Edison Intl Stock Price, News & Analysis

Southern California Edison (SCE) is set to enhance grid reliability by adding 535 megawatts (MW) of battery energy storage at three substations in response to an emergency proclamation by California Governor Gavin Newsom. This initiative aims to prepare for potential customer outages during extreme heat in the summers of 2021 and 2022. The new installations will increase SCE's total energy storage capacity to approximately 2,810 MW, contributing to California's clean energy goals and reducing reliance on natural gas. Ameresco has been contracted to implement the battery systems by next August.

Southern California Edison’s 2020 Supplier Diversity efforts resulted in $2.4 billion spent with over 600 small and diverse businesses, generating an economic impact exceeding $3.5 billion and supporting more than 23,000 jobs. The company's commitment to minority, women, disabled veteran, and LGBT-owned businesses includes providing technical assistance to enhance their capabilities. This economic impact reflects direct purchases, indirect activities within these suppliers' chains, and the induced spending by employees, significantly benefiting local economies.

Edison International is offering $1.2 million in scholarships through its Edison Scholars Program, awarding $40,000 to 30 high school seniors pursuing STEM fields at accredited U.S. colleges. Applications are open until Dec. 13, 2022. Since its launch in 2006, the program has provided approximately $12.3 million in scholarships to 700 students. The initiative aims to support students from diverse backgrounds, encouraging their contributions to the energy industry and promoting a clean, equitable energy future.

Edison International (NYSE: EIX) is set to announce its Third Quarter 2021 Financial Results on November 2, 2021. The results will be discussed during a conference call from 1:30 to 2:30 p.m. (Pacific Time). Interested parties can access the call by dialing 1-888-673-9780 for U.S. callers or 1-312-470-0178 for international callers. The call will also be available via a webcast. A replay will be accessible until November 16, 2021. Edison International is a leading electric utility company serving millions in California.

PG&E and Southern California Edison have announced a partnership to enhance emergency preparedness services during Public Safety Power Shutoffs (PSPS), coinciding with National Preparedness Month. Through the 211 California Network, customers can access 24/7 support connecting them to local resources for transportation, shelter, and meal delivery. This initiative aims to assist vulnerable communities, including those with disabilities. The agreement seeks to extend resource availability statewide, ensuring critical support to affected customers during power shutoffs.

Edison International emphasizes the urgent need for California to enhance its greenhouse gas (GHG) reduction efforts to meet 2030 decarbonization goals. A new policy paper, Mind the Gap, outlines the necessity for a 4.1% annual reduction in GHG emissions, quadrupling the current pace. The report identifies critical policy recommendations to decarbonize various sectors, amplifying the role of renewable energy and electrification to achieve state goals.

The Board of Directors of Edison International (NYSE: EIX) declared a quarterly common stock dividend of $0.6625 per share, payable on October 31, 2021, to shareholders of record on September 30, 2021. Additionally, an initial semi-annual dividend of $27.77083 per share was announced for the 5.375% Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series A, payable on September 15, 2021. Southern California Edison also declared quarterly dividends on various preference stocks.

Edison International (NYSE: EIX) reported a second quarter 2021 net income of $318 million, or $0.84 per share, compared to $318 million, or $0.85 per share, in Q2 2020. Adjusted core earnings were $356 million, or $0.94 per share, down from $375 million, or $1.00 per share, in the prior year. The decrease in core earnings is attributed to higher depreciation, despite increased FERC revenue and reduced wildfire mitigation expenses. The company is focused on grid resiliency and sustainability investments, including over $800 million for vehicle electrification.

Southern California Edison has launched the Charge Ready program, a $436 million initiative aimed at expanding electric vehicle charging infrastructure in Southern California. Over the next five years, the program will install approximately 38,000 new chargers in various locations, including disadvantaged communities. This effort follows a successful pilot program that added more than 2,700 charge ports at nearly 150 sites. The initiative also includes a related program, Charge Ready Transport, designed to support medium- and heavy-duty EVs with an investment of $356 million.