Southern California Edison likely to incur 'material losses' related to Eaton fire, executive says

Southern California Edison's CEO, Pedro Pizarro, indicated the company might face substantial financial losses due to the ongoing investigations into the Eaton fire, which resulted in 18 fatalities and massive destruction. While it is uncertain if Edison's equipment sparked the blaze, the lack of other evidence points towards its potential liability. Estimates of damages are around $10 billion, with total economic losses exceeding $250 billion. The situation remains in early stages, making liabilities difficult to assess.

"It's still very early days here and the liability is simply not estimable today. I'm not sure when it may become estimable."

"Absent additional evidence, it is probable that Edison International and Southern California Edison will incur material losses in connection with the Eaton fire."

Read at Los Angeles Times