{"id":105441,"date":"2021-01-25T17:18:53","date_gmt":"2021-01-25T17:18:53","guid":{"rendered":"https:\/\/fin2me.com\/?p=105441"},"modified":"2021-01-25T17:18:53","modified_gmt":"2021-01-25T17:18:53","slug":"socal-edison-reaches-2-2-billion-settlement-for-woolsey-fire","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/socal-edison-reaches-2-2-billion-settlement-for-woolsey-fire\/","title":{"rendered":"SoCal Edison Reaches $2.2 Billion Settlement for Woolsey Fire"},"content":{"rendered":"<p><meta itemprop=\"security\" content=\"EIX US Equity\"><meta itemprop=\"type\" content=\"SecurityLink\">Edison International\u2019s Southern California Edison utility will pay $2.2 billion to settle insurance claims for the Woolsey fire that tore through Malibu in 2018.<\/p>\n<p>The company also reached settlements with plaintiffs involving the 2017 Thomas and Koenigstein fires and the 2018 Montecito mudslides, it said in a <meta itemprop=\"suid\" content=\"QNHS60MEWG79\"><meta itemprop=\"type\" content=\"StoryLink\">statement. Edison, which did not<span> admit<\/span> wrongdoing or liability, last year reached a <meta itemprop=\"suid\" content=\"Q0XYZCDWX2PU\"><meta itemprop=\"type\" content=\"StoryLink\">$360 million settlement with local government agencies that were harmed by the same fires.<\/p>\n<p><\/path><g class=\"marker svelte-xiruid\" transform=\"translate(69.13025193107656,15.638924777010443)\"><\/p>\n<p><\/path><\/g><\/svg> <span>Bishkek, Kyrgyzstan<\/span>Most polluted air today, in sensor range  0 3 2 1 0 9 ,0 2 1 0 9 8 0 7 6 5 4 3 0 5 4 3 2 1   Soccer pitches of forest lost this hour, most recent data   -5.\u200b82% Today&#8217;s arctic ice area vs. historic average     <svg width=\"100%\" viewBox=\"0 0 400 100\" preserveAspectRatio=\"xMinYMid\" class=\"svelte-1agbo4c\"><defs><marker id=\"circle\" viewBox=\"0 0 3 3\" refX=\"1.5\" refY=\"1.5\" markerWidth=\"3\" markerHeight=\"3\" orient=\"auto-start-reverse\"><circle fill=\"currentColor\" cx=\"1.5\" cy=\"1.5\" r=\"1.5\"><\/circle><\/marker><\/defs><g transform=\"translate(2, 4)\"><\/p>\n<p><\/path><\/g><\/svg> $69.\u200b9B  Renewable power investment worldwide in Q2 2020 +0.\u200b78\u00b0 C Dec. 2020 increase in global temperature vs. 1900s average   84% Carbon-free net power in Brazil, most recent data   0 6 5 4 3 2 0 3 2 1 0 9 0 8 7 6 5 4 .0 1 0 9 8 7 0 8 7 6 5 4 0 9 8 7 6 5 0 5 4 3 2 1 0 4 3 2 1 0 0 0 9 8 7 6   Parts per million CO<sub>2<\/sub> in the atmosphere     <svg width=\"100%\" viewBox=\"0 0 400 100\" preserveAspectRatio=\"xMinYMid\" class=\"svelte-1agbo4c\"><defs><marker id=\"circle\" viewBox=\"0 0 3 3\" refX=\"1.5\" refY=\"1.5\" markerWidth=\"3\" markerHeight=\"3\" orient=\"auto-start-reverse\"><circle fill=\"currentColor\" cx=\"1.5\" cy=\"1.5\" r=\"1.5\"><\/circle><\/marker><\/defs><g transform=\"translate(2, 4)\"><\/p>\n<p><\/path><\/g><\/svg> 50,\u200b820  Million metric tons of greenhouse emissions, most recent annual data <\/p>\n<p>            <script class=\"params\" type=\"application\/json\">{\"contentId\":\"QNHZ7HT1UM1401\",\"position\":\"greensponsoredby\",\"dimensions\":{\"small_desktop\":[[190,31]],\"large_desktop\":[[190,31]],\"tablet\":[[190,31]],\"mobile\":[[190,31]]},\"positionIncrement\":2,\"targeting\":{\"position\":\"greensponsoredby2\",\"positionIncrement\":2,\"url\":\"\/news\/articles\/2021-01-25\/socal-edison-reaches-2-2-billion-settlement-for-woolsey-fire\"},\"containerId\":\"greensponsoredby-b9tXsaB\"}<\/script><\/p>\n<p>Utility equipment has been tied to several devastating California wildfires in recent years, saddling the state\u2019s power companies with billions of dollars in potential liabilities and forcing its largest, <meta itemprop=\"security\" content=\"PCG US Equity\"><meta itemprop=\"type\" content=\"SecurityLink\">PG&amp;E Corp., into bankruptcy in 2019.<\/p>\n<p>Edison Chief Executive Officer Pedro Pizarro said in the statement that Monday\u2019s settlement was \u201canother significant step toward resolving pending wildfire-related litigation.\u201d<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/media.sailthru.com\/4wm\/1k4\/c\/2\/5fc7b5e2f2004.jpg\"><\/p>\n<p>The utility estimates that total expected losses for the 2017 and 2018 events are $4.6 billion.<\/p>\n<p>Source: <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-01-25\/socal-edison-reaches-2-2-billion-settlement-for-woolsey-fire?srnd=premium\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Edison International\u2019s Southern California Edison utility will pay $2.2 billion to settle insurance claims for the Woolsey fire that tore through Malibu in 2018. The [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":105440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SoCal Edison Reaches $2.2 Billion Settlement for Woolsey Fire - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/socal-edison-reaches-2-2-billion-settlement-for-woolsey-fire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SoCal Edison Reaches $2.2 Billion Settlement for Woolsey Fire - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Edison International\u2019s Southern California Edison utility will pay $2.2 billion to settle insurance claims for the Woolsey fire that tore through Malibu in 2018. 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