Edison Intl Stock Price, News & Analysis

Edison International is offering a rebate of up to $4,000 for customers purchasing or leasing pre-owned electric vehicles (EVs) as part of Drive Electric Earth Day, a month-long national initiative aimed at promoting electric vehicle adoption. This initiative, which began on April 1, includes over 215 events across 41 states, designed to create a welcoming atmosphere for potential EV buyers. The rebates are funded through SCE's participation in California's Low Carbon Fuel Standard Program, promoting clean transportation and reducing greenhouse gas emissions. SCE is also addressing concerns over battery range anxiety by adding 30,000 EV charging stations in its service area in the coming years. The campaign seeks to enhance awareness and interest in EVs through community engagement.

Edison International submitted a proposal to the California Public Utilities Commission aimed at providing bill relief for lower-income households. If approved, this would reduce the fixed electric service costs for approximately 1.2 million lower-income customers by 16%-21% and decrease rates for all residential customers by 33%. The proposal is in response to the recently passed Assembly Bill 205, which supports an income-based fixed charge system. Under this system, lower-income customers would pay a fixed fee of $15 to $20, while higher earners could pay up to $85. The goal is to align with California's climate policies, making clean energy technologies more affordable for low-income families. The proceeding is expected to last until mid-2024.

Edison International has named thirty high school seniors as 2023 Edison Scholars, awarding a total of $1.5 million in scholarships. Each scholar will receive $50,000 over four years, an increase from the previous $40,000 award. The scholarship aims to support students pursuing studies in STEM, cybersecurity, or data analytics. For the first time since 2019, students received their awards through in-person surprise check presentations at school events. Edison International has awarded over $15 million in scholarships to 760 students since 2006, demonstrating its commitment to community investment and fostering pathways to clean energy careers.

Edison International has named 30 high school seniors as the 2023 Edison Scholars, awarding a total of $1.5 million in scholarships. The scholarship amount has increased from $40,000 to $50,000, distributed over four years. In addition, scholars can gain access to a paid summer internship with Southern California Edison after their first year of college. This initiative aims to support students pursuing degrees in STEM, cybersecurity, or data analytics. Since 2006, Edison International has contributed over $15 million to 760 students through the Scholars Program, emphasizing its commitment to community investment and fostering future leaders in clean energy.

Edison International (NYSE: EIX) announced its First Quarter 2023 Financial Results on May 2, 2023. The conference call will take place from 1:30 to 2:30 p.m. Pacific Time, accessible via phone or webcast. Investors can call 1-888-673-9780 for U.S. participants or 1-312-470-0178 for international callers, with the passcode Edison. A replay will be available until May 17, 2023. Edison International is a leading electric utility holding company, serving around 15 million people in California through its subsidiary, Southern California Edison Company.

Southern California Edison (EIX) announced its 2023-25 Wildfire Mitigation Plan, aimed at decreasing the risk of wildfires linked to its equipment. The company reports a 75%-80% reduction in probability since 2018. The plan outlines continued grid hardening through covered conductor installation, enhancing vegetation management, and deploying advanced monitoring systems. SCE aims to install 2,850 miles of covered conductor by 2025, contributing to replacing 7,200 miles of overhead lines in high-risk areas. SCE is also expanding its aerial firefighting resources, emphasizing safety for vulnerable communities.

Edison International showcased its commitment to clean energy at the World Ag Expo in Tulare, California, emphasizing electrification for agriculture. With over 100,000 attendees, SCE engaged customers about integrating clean energy into daily life. Highlighting the importance of electric appliances, the company aims for 30% electrification of space and water heating by 2030, increasing to 70% by 2045, aligning with California's zero-carbon emissions goal. Visitors learned about the benefits of electric technology for sustainability and potential cost savings through Time-of-Use rates and other incentives.

Edison International CEO Pedro Pizarro presented a vision for a clean energy future at the 2023 South by Southwest (SXSW) conference, highlighting significant advancements towards net-zero greenhouse gas emissions in California by 2045. He noted that California has reduced per-capita GHG emissions by over 33% since 2001. Pizarro emphasized the need for a $250 billion investment in clean power generation and infrastructure, as well as policies to support low-income customers, to ensure equitable access to clean energy. While he stated that electric bills may rise, overall energy costs will decrease for many customers by one-third by 2045.

Edison International engineers recently visited students at Cesar Chavez Academy in Corona, coinciding with National Engineers Week. During the event, the engineers engaged first graders in a hands-on activity to promote awareness of science, technology, engineering, and math (STEM) careers. The outreach aims to inspire young students, particularly underrepresented minorities in STEM fields, to consider engineering as a viable career path. SCE executives shared personal stories and emphasized the importance of early exposure to STEM education to foster future innovation and diversity in engineering.