Southern California Edison Launches Wildfire Compensation Program, Disbursing $21.98 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Compensation Program Launch: Southern California Edison (SCE) initiated its Wildfire Recovery Compensation Program in October, receiving 1,748 claims and disbursing $21.98 million, demonstrating the company's swift response and support for affected communities.
- Fast Compensation Commitment: The program promises to provide settlement offers within 90 days of a claim submission, and to date, SCE has delivered numerous offers ahead of schedule, reflecting its efficient execution in post-disaster recovery.
- Community Engagement Feedback: Prior to the program's launch, SCE engaged over 1,000 community members to gather feedback, resulting in more than 50 updates to the program, ensuring it meets community needs and enhancing public trust.
- Infrastructure Investment: The company plans to invest in infrastructure improvements, including undergrounding approximately 153 miles of power lines over the next few years to enhance fire prevention capabilities and support long-term growth in Southern California, showcasing its strategic foresight for the future.
Analyst Views on EIX
Wall Street analysts forecast EIX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EIX is 64.20 USD with a low forecast of 55.00 USD and a high forecast of 71.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
5 Buy
5 Hold
1 Sell
Moderate Buy
Current: 60.350
Low
55.00
Averages
64.20
High
71.00
Current: 60.350
Low
55.00
Averages
64.20
High
71.00
About EIX
Edison International is an electric utility holding company. The Company is focused on providing clean and reliable energy and energy services through its independent companies. It is the parent holding company of Southern California Edison Company (SCE) and Trio. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California. Trio is a global energy advisory firm providing integrated sustainability and energy advisory services to large commercial, industrial and institutional organizations in North America and Europe. Trio provides integrated strategy and implementation solutions in sustainability, renewables, energy procurement, conventional supply, energy optimization and transportation electrification.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
