Edison International CEO on providing power in high wildfire risk areas

Core Insights - Edison International is addressing the aftermath of the Eaton fire, which may have been caused by its equipment, and is working on a wildlife compensation fund to support affected victims [2][3][4] Company Actions - The company has launched a wildfire recovery compensation program allowing impacted individuals to file claims directly, with an expedited process for offers within 90 days [5][6] - Edison International has engaged experts to design the compensation program, aiming to attract a significant number of claims from eligible properties [6][7] Risk Mitigation Efforts - The company acknowledges that wildfire risk will increase, with predictions of a 20% rise in wildfire ignitions in California by 2050 [10] - Edison International has been proactive in redesigning its infrastructure, with 27% of its 50,000 square miles territory classified as high fire risk, and has replaced 6,800 miles of overhead bare wire with insulated wire to mitigate risks [11][12] Regulatory Environment - The state has implemented laws such as AB 1054 and SB 254 to establish clear wildfire mitigation plans and liability caps for utilities, balancing accountability and financial health [14][15] - A new study is mandated to assess building codes, insurance access, and the broader economic impacts of wildfire risks, recognizing that utilities should not bear the catastrophic risk alone [16][17]