Shares of Edison International (EIX, Financial) fell more than 4%, marking the largest decline since September 2022, closing at $73.78. The drop comes as Southern California Edison, a subsidiary of Edison International, implemented power shutoffs affecting over 114,000 customers. These shutoffs were initiated as a public safety measure due to ongoing wildfires in the region.
The company has not provided a timeline for when power will be restored, adding to the uncertainty impacting its stock performance. These precautionary measures are part of efforts to prevent further wildfire-related damages, which have been a significant concern in California.
