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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