SoCal Ed Announces Agreement to Settle Fire, Debris Flow Claims
November 13 2019 - 5:23PM
Dow Jones News
By Stephen Nakrosis
Southern California Edison said Wednesday it has reached
agreements in principle to settle a series of claims related to
several wildfires that occurred in California in 2017 and 2018.
The claims from 23 public entities related to the Thomas and
Koenigstein fires in 2017, and 2018's Woolsey Fire and Montecito
debris flow.
Under the terms of the settlements, Southern California Edison
will pay a total of $360 million. No admission of wrongdoing or
liability was made, the utility said.
"We are pleased to reach agreements to resolve the claims
brought by local government entities related to the 2017 and 2018
events," said Pedro J. Pizarro, president and chief executive of
Edison International (EIX), the parent company of SCE. "We look
forward to engaging with other parties who have a similar interest
in good faith settlement efforts. We also will continue to make
substantial investments in our system and enhance our operational
practices to reduce the risk of wildfires in our service area and
safely provide power to homes and businesses."
The settlement applies only to claims made by public entities,
and doesn't apply to claims made by individuals or businesses, the
company said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 13, 2019 17:08 ET (22:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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