Edison Intl Stock Price, News & Analysis

Edison International released a press statement emphasizing the benefits of switching from gas to electric appliances in residential and commercial buildings. The transition is aimed at reducing greenhouse gas emissions, which account for about 14% of California's emissions. By 2045, average households could save one-third on total energy costs. Notably, the company has proposed a $667.2 million plan to install 250,000 heat pumps over four years, targeting low-income communities impacted by pollution. California's new building code encourages all-electric designs as part of Governor Newsom's goal for 3 million climate-ready homes by 2030.

Edison International emphasizes the growing momentum in transportation electrification, addressing concerns about California's electric grid capacity amidst rising electric vehicle (EV) adoption. CEO Steven Powell highlighted that the grid can currently handle most EV demand, but significant investments are needed to meet the forecasted 60% load increase due to the electrification of transportation. Powell stated that these investments, while initially increasing electric bills, are projected to reduce overall consumer energy costs by 25-33%. Furthermore, EV models available in the U.S. surged from 29 in 2021 to 89 in the current model year, with projections estimating 170 by 2025.

Edison International has shared energy efficiency tips for hosting gatherings during the big game. The company suggests using LED bulbs which consume up to 90% less energy and last significantly longer than traditional bulbs. To protect electronics and reduce energy waste, it's recommended to use surge protectors. In the kitchen, substituting energy-intensive appliances with countertop devices like air fryers can lower energy consumption. The press release emphasizes that smart energy practices can help manage costs during social events. For more tips, consumers can visit their energy savings website.

Southern California Edison (EIX) has announced significant energy bill credits for its customers in response to rising natural gas prices. Over 5 million residential and small business customers will receive California Climate Credits amounting to $142, distributed across two credits this year. The first credit will be issued in March, a month earlier than usual. Additionally, 1.9 million customers will benefit from $40-$60 credits for participating in energy-saving programs. The total credits for Demand Response program participants reach $111 million, supporting efforts to stabilize the electric grid during peak demand.

Edison International celebrates Vikki Appel, a senior advisor in IT Services and a reigning world champion cyclist. Appel achieved remarkable success at the 2022 Masters Track World Championships, winning three gold medals. Her journey included overcoming a broken pelvis injury, showcasing resilience and determination. Appel's achievements in cycling parallel the core values of Edison International, emphasizing excellence, teamwork, and continuous improvement. Her focus on collaborative success both in sports and at work highlights the company's commitment to a performance-driven culture.

Edison International recently supported the One Spade Youth Packers program, which empowers underprivileged youths in Kernville, California, through hands-on training in mule handling. Operating from February to May, this initiative pairs children aged 9 to 17 with mules, teaching them responsibility and essential life skills. Since 2018, Edison has donated $20,000 to this nonprofit, facilitating free participation for families. The program aims to cultivate traits like honesty and teamwork, ultimately fostering productive citizenship among participants. The historical significance of mules in the Sierra Nevada ties into Edison's own legacy, further enriching this educational experience.

Edison International (NYSE: EIX) is set to release its Fourth Quarter and Full-Year 2022 Financial Results on February 23, 2023, from 1:30 to 2:30 p.m. PT. Investors can join via the live conference call or webcast at www.edisoninvestor.com. A replay will be available until March 10, 2023. Edison International, headquartered in Rosemead, California, delivers electricity to 15 million people across California through its Southern California Edison Company. It also offers energy solutions globally via Edison Energy LLC.

Edison International announced key advancements in its fleet electrification goals through its subsidiary, Southern California Edison (SCE). After acquiring 15 all-electric Ford F-150 Lightning trucks, SCE aims to electrify 100% of its light-duty vehicles by 2030. Additionally, it plans to electrify 30% of medium-duty and 8% of heavy-duty trucks. The company expects to save over 620,000 gallons of fuel and reduce greenhouse gas emissions by nearly 6,000 metric tons annually. With existing infrastructure and future installations, SCE is set to enhance its electric vehicle charger network significantly.

Edison International commends the $4,000 federal tax credit for pre-owned electric vehicles (EVs) from the Inflation Reduction Act, inspired by its own Pre-Owned EV Rebate Program. The federal initiative supports EV adoption with income limits of $75,000 for individuals and $150,000 for couples. Additionally, it includes $20 billion for clean vehicle manufacturing and funds for zero-emission technologies. Edison International advocates substantial investments—$175 billion in clean energy and $75 billion in infrastructure—to meet California’s 2045 electrification goals, which could create jobs and save customers on fuel costs.