Edison Intl Stock Price, News & Analysis

Southern California Edison (SCE) emphasizes the need for significant changes in the planning and operation of the electric power grid to meet future demands. The Reimagining the Grid white paper outlines challenges posed by the increased use of electric vehicles and renewable energy sources. SCE plans to adopt a modular, region-specific grid design, incorporating advanced technologies like AI and predictive analytics. The company aims to enhance collaboration with stakeholders to ensure the grid can support California's greenhouse gas reduction goals and adapt to changing energy needs.

Southern California Edison has announced the signing of long-term contracts for four projects totaling 590 megawatts of battery energy storage, enhancing regional electric system reliability. This addition, alongside a previous procurement of 770 megawatts, raises the company's total battery capacity to approximately 2,050 megawatts. The projects aim to support California's transition to 100% clean renewable energy and are expected to come online by August 2022 and 2023. Approval from the California Public Utilities Commission is required before implementation.

Southern California Edison (SCE) issues a warning about rising utility bill phone scams, especially during the holiday season. Customers have reported losses nearing $300,000 in 2023 from such scams, which have proliferated since the onset of the COVID-19 pandemic. The top-10 cities affected include Fontana and Hemet. SCE advises customers against immediate payment demands and fraudulent practices. It emphasizes that it does not have a 'disconnection department' and will not request sensitive information over the phone. For assistance or to report scams, customers can contact SCE's customer service.

Edison International (NYSE: EIX) reported a third quarter 2020 net loss of $288 million, or $0.76 per share, down from a net income of $471 million, or $1.36 per share, in Q3 2019. However, adjusted core earnings increased to $632 million ($1.67 per share) from $519 million ($1.50 per share) in the previous year. The decline in net income was driven by higher operational expenses and non-core losses related to wildfire claims. Despite this, the company narrowed its 2020 earnings guidance range to $4.47 to $4.62, reflecting confidence in performance amid ongoing wildfire mitigation efforts.

Edison International has announced a significant donation of $520,000 to the California Bridging the Digital Divide (BDD) Fund, aimed at enhancing educational access during the COVID-19 pandemic. The contribution includes 600 refurbished laptops, valued at $270,000, alongside $250,000 in cash grants. This initiative will benefit school districts across Los Angeles, Riverside, San Bernardino, and Tulare counties by providing crucial resources for distance learning. Notably, the funds were sourced from Edison International's shareholder dollars, not from customer funds.

Edison International, alongside Southern California Edison, has partnered with the American Association of Blacks in Energy (AABE) to enhance the representation of African Americans in the energy sector. The initiative aims to improve diversity, equity, and inclusion through specific actions in employment and leadership. Currently, nearly 70% of the workforce reflects gender or racial diversity. Edison plans to increase data transparency and implement various programs to support Black employees. AABE's leadership welcomes this initiative, emphasizing the need for equitable workplace conditions.

Southern California Edison is contributing $2.2 million for the lease of a CH-47 Chinook helitanker to support the Orange County Fire Authority during a challenging fire season. The helitanker, capable of dropping 3,000 gallons of water or retardant, will be operational from October 1 to late December. This initiative is part of SCE’s Wildfire Mitigation Plan, which includes infrastructure inspections and fire risk management efforts. SCE emphasizes the safety of communities and firefighters as a top priority amid the intensified wildfire season exacerbated by the COVID-19 pandemic.

Edison International (EIX) announced its Third Quarter 2020 Financial Results during a conference call on October 27, 2020. The event is part of their ongoing commitment to transparency and communication with investors. Interested parties can join the live conference by calling designated numbers or through a webcast available on their investor relations website. A playback option will remain available until November 10, 2020.

Edison International remains a leading electric utility, serving 15 million customers in California.

Edison International is offering $1.2 million through its Edison Scholars Program to support high school seniors aiming for STEM careers. Annually, 30 students will receive $40,000 scholarships over four years, emphasizing support for those in underserved communities. Applications are open until Dec. 14, with criteria including a minimum 3.0 GPA and residency in SCE’s service area. Since 2006, the program has awarded $11.1 million to 670 students. Notably, all funding comes from shareholders, not utility customers.