Edison CEO: SCE conduct ‘consistent with actions of reasonable utility’

Edison International (EIX) CEO Pedro Pizarro said Thursday on the company’s Q4 earnings call the transmission operations of its Southern California utility were managed responsibly even if investigators determine the equipment sparked a deadly fire near Los Angeles, California. Pizarro said the company is “confident” SCE will make a good faith showing that its conduct with respect to its transmit facilities in the Eaton Canyon area “was consistent with actions of a reasonable utility.” The executive added that SCE continues to execute its “robust risk-prioritized wildfire mitigation plan, which is approved by California’s Office of Energy Infrastructure Safety and ratified by the CPUC,” and that the state’s $21B fire insurance fund will be used to pay out claims, if needed. In the event the utility were to make claims payments, it would not have to use its balance sheet, Pizarro added. Shares of Edison International are up 7% to $54.93 in morning trading.