financetom
Business
financetom
/
Business
/
Southern California Edison to pay $82.5 million to settle claims over 2020 Bobcat Fire damages
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Southern California Edison to pay $82.5 million to settle claims over 2020 Bobcat Fire damages
May 26, 2025 1:35 PM

May 23 (Reuters) - Southern California Edison (SCE), a

unit of utility Edison International ( EIX ), agreed on Friday

to pay $82.5 million to settle claims with the U.S. Forest

Service for costs and damages resulting from the Bobcat Fire in

2020.

The U.S. government had filed a lawsuit against SCE in 2023,

alleging negligence that caused the wildfire, which burned

nearly 180 square miles (466.2 square kilometers) in one of the

largest wildfires in Los Angeles County.

In a complaint filed in Los Angeles federal court, the

government alleged that the wildfire began on September 6, 2020,

when a poorly maintained tree contacted power lines, igniting

vegetation on a branch, which then fell to the ground and spread

the fire.

"This record settlement against Southern California Edison

provides meaningful compensation to taxpayers for the extensive

costs of fighting the Bobcat Fire and for the widespread damage

to public lands," said United States Attorney Bill Essayli.

The company has agreed to pay the settlement within 60 days

of the effective date of the settlement agreement, which was May

14, without admitting wrongdoing or fault, the U.S. attorney's

office in Los Angeles said.

The utility did not immediately respond to a Reuters request

for comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Update: Boeing Shares Drop After CFO Says Q2 Deliveries Won't Recover From Q1
Update: Boeing Shares Drop After CFO Says Q2 Deliveries Won't Recover From Q1
May 23, 2024
01:34 PM EDT, 05/23/2024 (MT Newswires) -- (Updates with details on Q2 margins in the third and fourth paragraphs) Boeing ( BA ) shares fell 6.7% in recent Thursday trading after Chief Financial Officer Brian West said the aircraft manufacturers' deliveries would not recover in Q2, remaining in line with Q1 due to ongoing production challenges. West confirmed that the...
Great Ajax Files Shelf Registration for 12 Million Shares
Great Ajax Files Shelf Registration for 12 Million Shares
May 23, 2024
01:35 PM EDT, 05/23/2024 (MT Newswires) -- Great Ajax ( AJX ) filed a shelf registration Wednesday with the US Securities and Exchange Commission for the potential resale of 12 million of its common shares by selling shareholders. The company said it would not receive proceeds from the resale of the shares by the selling shareholders. Shares of Great Ajax...
Novavax Unusual Options Activity For May 23
Novavax Unusual Options Activity For May 23
May 23, 2024
Deep-pocketed investors have adopted a bearish approach towards Novavax ( NVAX ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NVAX usually suggests something big is about to happen. We gleaned this information from...
--Tesla CEO Elon Musk Avoids Stating Commitment to Cheaper Vehicles, Bloomberg Says
--Tesla CEO Elon Musk Avoids Stating Commitment to Cheaper Vehicles, Bloomberg Says
May 23, 2024
01:37 PM EDT, 05/23/2024 (MT Newswires) -- Price: 176.70, Change: -3.41, Percent Change: -1.89 ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved