Southern California Edison to Contribute to State Wildfire Fund
July 25 2019 - 05:01PM
Dow Jones News
By Michael Tobin
Edison International (EIX) subsidiary Southern California Edison
said Thursday that it will participate in California's recently
created fund to pay for future liabilities from wildfires caused by
electric companies' equipment.
Southern California Edison said that it will make a roughly $2.4
billion contribution to the wildfire fund by Sept. 10 and make $95
million in annual contributions to the fund for the next 10
years.
Pacific Gas & Electric, a subsidiary of PG&E Corp., also
said Thursday that it will make an initial contribution of $4.8
billion to the fund.
Southern California Edison said that it will finance the
payments to the fund through a mix of debt and equity contributions
from its parent company.
Write to Michael Tobin at michael.tobin@wsj.com
(END) Dow Jones Newswires
July 25, 2019 16:46 ET (20:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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