Edison International

Edison International (NYSE: EIX), headquartered in Rosemead, California, stands as one of the nation's largest electric utility holding companies, focused on providing clean and reliable energy through its primary subsidiary, Southern California Edison Company (SCE). The company delivers electricity to approximately 15 million people across a vast service territory of approximately 50,000 square miles spanning Southern, Central and Coastal California. With annual revenue of $17.6 billion in 2024 and more than 10,000 employees, Edison International plays a critical role in California's energy infrastructure and the state's ambitious clean energy transition.

The company's roots trace back to 1886, with Southern California Edison officially incorporated in 1909 following the merger of multiple small electric companies. A pivotal moment in the company's history came in 1917 when SCE acquired the Big Creek Hydroelectric Project, originally developed by industrialist Henry Huntington to power Los Angeles's Red Car trolley system. This acquisition laid the foundation for what became America's first large-scale integrated hydroelectric facility and remains a cornerstone of SCE's clean energy portfolio today. The modern corporate structure emerged in 1988 when the company became SCEcorp, a holding company, and in 1996 adopted the name Edison International to reflect its diversified business activities.

Under the leadership of President and CEO Pedro J. Pizarro since 2016, Edison International has positioned itself at the forefront of California's clean energy transformation. The company's 2024 sustainability report, "Reaching Net Zero: Accelerating California's Clean Energy Transition," outlines a comprehensive plan to achieve net-zero greenhouse gas emissions across Scopes 1, 2, and 3 by 2045, aligned with California's statewide climate goals. In 2024, SCE delivered 49% carbon-free power to customers—67% cleaner than the national average GHG intensity among utilities—and contracted over 1,600 MW of energy storage, bringing its total owned or contracted portfolio to approximately 8,700 MW, one of the largest in the nation.

The company's financial performance has been strong, with 2024 net income of $1,284 million ($3.33 per share) and core earnings of $1,900 million ($4.93 per share). Edison International has committed to investing $26.6-$31.5 billion in capital expenditures from 2025-2028, focused on grid modernization, wildfire mitigation, clean energy infrastructure, and system reliability. However, the company faces significant challenges related to wildfire liability. In January 2025, SCE equipment was potentially implicated in the Eaton and Hurst wildfires in Los Angeles County, with preliminary indications suggesting possible material losses, though investigations continue. California's $21 billion Wildfire Fund provides some protection, but the frequency of catastrophic wildfires has raised questions about long-term adequacy and liability management in the utility sector.