regulatory
confidence high
sentiment positive
materiality 0.80
SCE reaches CPUC settlement to recover $1.6B of $2.7B TKM fire losses
EDISON INTERNATIONAL
- Settlement authorizes SCE to recover 60% (~$1.6B) of ~$2.7B in uninsured claims, legal costs, and financing from TKM events.
- SCE also recovers $55M of $65M restoration costs; commits $50M in shareholder-funded wildfire safety enhancements.
- SCE will seek CPUC approval to finance authorized amounts through securitized bonds; equity charges excluded from regulatory capital.
- Settlement covers Thomas Fire, Koenigstein Fire, and Montecito Mudslides; $125M in uninsured claims previously waived under SED agreement.
- If approved, SCE's after-tax equity charges from disallowed costs are permanently excluded from CPUC regulatory capital structure.