The owner of the largest electric utility in Southern California announced Tuesday it had reached a settlement with California regulators over violations related to five wildfires.
Southern California Edison was investigated by the California Public Utilities Commission for alleged infrastructural deficiencies that are believed to have exacerbated the blazes, which included the disastrous Woolsey and Thomas fires.
The Woolsey Fire burned through parts of Malibu in 2018, destroying more than 1,6000 structures and killing three. The Thomas Fire scorched up to 300,000 acres north of L.A. in 2017, killing two and destroying more than 1,000 structures.
Edison has not admitted negligence or liability as part of the agreement with the commission. Settlement costs included a $110 million fine to be paid into state’s general fund, $65 million of shareholder-paid safety measures, and an agreement by Edison to waive its right to seek recovered costs for $375 million in third-party uninsured payment claims.
The settlement brings SoCal Edison’s estimated losses from 2017 and 2018 wildfires to a total of $7.5 billion.
The news comes as the utility announced a new billing system that will charge residential customers more for electricity during peak hours—4 to 9 p.m. on weekdays. Some bills may rise 5 to 10% under the new plan.
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