Welcome to our dedicated page for Edison Intl news (Ticker: EIX), a resource for investors and traders seeking the latest updates and insights on Edison Intl stock.
Edison International (NYSE: EIX) news covers developments at one of the nation’s largest electric utility holding companies and its key subsidiaries. The company is headquartered in Rosemead, California and focuses on providing clean and reliable energy and energy services through Southern California Edison and Trio. Southern California Edison delivers electricity to approximately 15 million people via about 5 million customer accounts in a 50,000-square-mile service area across Southern, Central and Coastal California, while Trio provides sustainability and energy advisory services to large organizations in North America and Europe.
News about Edison International often includes financial and capital markets updates, such as quarterly earnings results, guidance discussions, and details of tender offers or redemptions for preferred stock and trust preference securities. Recent press releases describe cash tender offers for fixed-rate reset cumulative perpetual preferred stock, term loan arrangements, and actions related to trust preference securities issued by SCE-related trusts.
Another important category of EIX news involves regulatory and legislative developments. Company communications highlight decisions by the California Public Utilities Commission on cost of capital and general rate cases, wildfire-related cost recovery proceedings, and legislative measures like California Senate Bill 254 and Assembly Bill 1054 that affect wildfire liability and financial stability for investor-owned utilities.
Investors and observers can also find community and corporate responsibility stories, such as announcements about the Edison Scholars STEM scholarship program and tributes to influential company leaders who contributed to California’s energy policy and clean energy movement.
This news page aggregates these types of updates so readers can follow Edison International’s financial disclosures, regulatory milestones, capital structure actions, and community initiatives in one place.
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.
Edison International recently hosted its 21st Black History Month Celebration, highlighting diversity, equity, and inclusion (DEI) initiatives. Keynote speaker Stacey Gordon emphasized the importance of action in making impactful changes in workplaces. The company continues to support diversity through programs like the Lineworker Scholarship Program, aimed at increasing Black participation in skilled trades. Edison also awarded a $10,000 grant to the Los Angeles Urban League for workforce training. Musical performances and cooking demonstrations were featured during the livestream event, showcasing energy-efficient technologies.
Edison International (NYSE: EIX) has priced its offering of $500 million in 8.125% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2053. The transaction, which is scheduled to close on March 6, is expected to incur an annualized after-tax interest expense of $29 million. This offering is part of the company’s strategy to maintain its investment-grade credit ratings, with expected equity content of approximately $250 million. The offering was oversubscribed, indicating strong investor interest. The notes are issued under an effective shelf registration statement with the SEC.
Edison International's President and CEO, Pedro Pizarro, will speak at the 2023 South By Southwest (SXSW) Conference on March 11 in Austin, Texas. Pizarro's session, titled Making Energy Clean, Reliable and Equitable, will address the urgent need for equity and affordability in the clean energy transition. He will discuss the role of electric power companies and share insights on challenges and innovations related to decarbonizing the economy and enhancing grid resilience. This session aims to highlight the impact of clean energy initiatives on all communities, advocating for immediate action against climate change.
The board of directors of Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.7375 per share, payable on April 30, 2023, to shareholders of record on March 31, 2023.
Additionally, the board announced several other dividends, including a $26.875 semiannual dividend for Series A preferred stock and a $25.00 semiannual dividend for Series B preferred stock, both payable on March 15, 2023. Other quarterly dividends for Southern California Edison preference stocks were also declared, with payment dates ranging from March 15 to May 1, 2023.