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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Edison International | NYSE:EIX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.37 | 0.51% | 72.34 | 72.68 | 71.77 | 72.50 | 1,475,379 | 01:00:00 |
Filing provides achievements to date and adjustments to reduce the risk of fire ignitions caused by utility infrastructure
Grid upgrades will lead to reduction and frequency of Public Safety Power Shutoffs
Southern California Edison today filed an annual update to its 2020-22 Wildfire Mitigation Plan with the California Public Utilities Commission. This year’s filing highlights adjustments that demonstrate the iterative and adaptive nature of the three-year plan to reduce the risk of fire ignitions caused by utility infrastructure during extreme weather conditions. Many of the mitigation measures will also lead to the reduction and frequency of Public Safety Power Shutoffs (PSPS) events, which have caused hardship to many of SCE’s customers.
“The worldwide impact of the COVID-19 pandemic is undeniable, and some of our local communities had the added hardship of PSPS due to extreme weather conditions,” said Steve Powell, SCE’s executive vice president of Operations. “We share in the urgency in reducing wildfire risk, and our Wildfire Mitigation Plan reflects this. With safety as our number one priority, we will continue to focus on working to protect our communities regardless of what Mother Nature has in store for us.”
The company takes seriously the commission’s recent recommendations and customer comments during a public meeting on Jan. 26 related to SCE’s PSPS execution during the 2020 wildfire season. SCE will file a PSPS action plan on Feb. 12 that responds to commission, customer and community concerns.
With another year of PSPS data, SCE will continue to review opportunities to accelerate mitigations for circuits that are frequently subject to PSPS events and evaluate new customer programs and resources.
SCE began implementing wildfire mitigation activities in 2018. This latest update incorporates lessons learned and reflects the continued progress the company has made in its analytical, engineering and process maturity.
This year, SCE looks forward to making significant progress in the following key focus areas:
SCE last year estimated it would invest about $3.8 billion to implement the 2020-22 Wildfire Mitigation Plan. The company devoted $1.3 billion last year and is on track to spend an additional $3.5 billion in 2021-2022. Primary drivers of the increase in forecast are expanded inspections and maintenance and data governance as well as a rise in labor costs driven by California’s Senate Bill 247.
SCE continues to invest in community preparedness, such as the company's $2.2 million contribution toward the Orange County Fire Authority’s (OCFA) lease of a Coulson-Unical CH-47 helitanker from October to December last year, a busy period during California’s now year-round wildfire season. SCE will expand its investments in aerial assets this year.
“The helitanker is a force multiplier, especially during wind-driven wildfires, with the ability to drop 3,000 gallons on a single pass, it made a significant difference in last year’s wildfires,” said OCFA Fire Chief Brian Fennessy. “We appreciate the vision and generosity of SCE in making this very large helitanker available to help keep the communities we both serve safe.”
In December alone, the aircraft saw 20 hours of flight time making 101 water drops totaling 223,438 gallons of water.
Results through 2020 and Targets for 2021
SCE met or exceeded nearly all the goals in its 2020 Wildfire Mitigation Plan.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005548/en/
Media Contact: David Song, (626) 302-2255 Investor Relations Contact: Sam Ramraj, (626) 302-2540
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