On October 8, 2024, Southern California Edison Company (SCE), a subsidiary of Edison International (EIX, Financial), filed an application with the California Public Utilities Commission (CPUC) to recover $5.4 billion in losses related to the Woolsey Fire. This substantial amount includes approximately $4.4 billion in uninsured claims paid as of August 31, 2024, and $1.0 billion in associated costs, which encompass legal and financing expenses incurred by the same date, along with estimated ongoing financing costs.
In addition to the aforementioned recovery, SCE is also seeking to recoup approximately $84 million in restoration costs. The application requests that the CPUC issue a proposed decision on the matter by February 2026.
This filing represents a significant step for SCE in addressing the financial impacts of the Woolsey Fire, as the company aims to mitigate the financial burden through regulatory channels. Investors and stakeholders will be closely monitoring the CPUC's response and the potential implications for Edison International's financial health and future operations.
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