|Bid||69.76 x 800|
|Ask||69.80 x 800|
|Day's Range||69.37 - 69.96|
|52 Week Range||45.50 - 76.45|
|Beta (3Y Monthly)||0.23|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||2.45 (3.51%)|
|1y Target Est||79.64|
The decline of nuclear in the global energy mix poses a threat to economies and efforts to reduce carbon emissions, International Energy Agency (IEA) Executive Director Fatih Birol said on Wednesday. Safety concerns, soaring costs and technological setbacks have slowed nuclear projects since the Fukushima nuclear plant disaster in Japan in March 2011. At the same time, despite governments setting ambitious targets to cut green house gas emissions responsible for global warming, emissions hit a record high in 2018.
A deadly wind-driven wildfire that raged across the northern edge of Los Angeles last week started near the base of high-voltage transmission tower owned by electric utility Southern California Edison, company and fire officials said on Monday. The "electric safety incident" report, a copy of which the utility provided to Reuters, identified the facility involved as a company-owned transmission tower near a traffic intersection in the foothills where the Saddleridge fire is thought to have erupted. Los Angeles Fire Department spokesman Captain Erik Scott said Monday that the cause of the fire was uncertain.
A destructive fire that broke out on the edge of Los Angeles began beneath a high-voltage transmission tower owned by Southern California Edison, fire officials said Monday.
(Bloomberg) -- California utility giant Edison International has sent state regulators a report on a deadly wildfire that broke out last week on the edge of Los Angeles, signaling that the company’s equipment may have been somehow involved in the blaze.Southern California Edison submitted a filing known as a safety incident report with the state Public Utilities Commission on a fire that erupted late Thursday on the city’s northern border, agency spokeswoman Terrie Prosper said. The Saddleridge blaze destroyed 23 buildings and led to the death of a man who suffered a heart attack while hosing down his house.Edison declined to say in an emailed statement whether its equipment may have caused the fire. The company instead said that its local equipment had been “impacted near the reported time of the fire” and that it filed the report with the commission on Friday “out of an abundance of caution.”Utilities are required to file such reports if an accident involving their equipment causes an injury or death, leads to damage of more than $50,000, blacks out at least 10% of the company’s service territory or generates significant media coverage. The last major report of this kind came when PG&E Corp. filed one shortly after the deadliest fire in California history broke out last November. That blaze, the Camp Fire, ended up killing 86 people, leveled the entire town of Paradise and eventually forced the company into bankruptcy.Prosper said by email on Monday that the report from Edison was deemed confidential, so the agency wasn’t immediately releasing it to the public. The report filed by PG&E on the Camp fire was made public and showed that a PG&E transmission line went dark 15 minutes before the fire was first spotted. State investigators later found the company’s power lines at fault for sparking the blaze.Stock Sell-OffEdison extended its losses on Monday, falling 1.8% to $70.06, the lowest close since July. That’s even after Citigroup Inc. analysts including Praful Mehta called the sell-off overdone and noted that the utility has $750 million in wildfire insurance and a statewide wildfire insurance fund to lean on.By Monday, the Saddleridge blaze had scorched nearly 8,000 acres and was 43% contained. Large sections of several major freeways in the Los Angeles area were shut last week as the fire spread and tens of thousands of people were forced to evacuate.The fire was driven by a wind storm that moved across California last week, prompting the state’s utilities to cut off electricity to roughly 2.3 million people in an unprecedented bid to prevent fires. Edison had shut power to more than 20,000 customers in its territory, but didn’t cut service in the area where the Saddleridge blaze broke out.To contact the reporters on this story: David R. Baker in San Francisco at email@example.com;Mark Chediak in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- An unprecedented blackout that plunged millions of Californians into the darkness for days is over.And nobody can say when the next will hit.Even as PG&E Corp. declared an end to last week’s shutoffs -- a deliberate move to keep its power lines from sparking the kind of blazes that forced the utility into bankruptcy -- the company warned that more will come. “It’s a future we must be ready for given the conditions and risks that we face,” Chief Executive Officer Bill Johnson told reporters.California has six weeks left in the wildfire season -- a time punctuated by dry, hot weather and high winds that have for years been the fuel for deadly and devastating blazes. While both PG&E and California state officials alike acknowledged that the shutoffs that began on Wednesday could have been better orchestrated, neither questioned their need.Climate change has made for more extreme conditions. In November 2018, a PG&E power line sparked the deadliest blaze in California history. And a year earlier, a series of wildfires devastated the state’s wine country. That, state and company officials said, necessitates more extreme measures.Mother Nature’s CallBy Friday, PG&E had restored power to 97% of those affected by the blackouts. On Sunday, 100% of customers had their lights back on. In all, roughly 738,000 homes and businesses went down in cities surrounding San Francisco. More than half of the state’s 58 counties were affected. When they’ll go dark again is Mother Nature’s call, Johnson said. “It really is weather-dependent -- where the wind is, where the conditions are.”Read More: Darkness, Frustration, Fire: Five Tumultuous Days in CaliforniaEven as the lights flickered back on, California firefighters were battling several infernos in Southern California. One that began in the hills north of the San Fernando Valley in the Los Angeles area -- now called the Saddleridge fire -- had burned about 8,000 acres as of Sunday and was less than 50% contained, destroying or damaging 32 structures. Another at the edge of the Sierra Nevada mountains had scorched more than 5,500 acres.For more on California’s blackouts, listen to this podcast.The Los Angeles Fire Department was still investigating the cause of the Saddlebridge fire. Sparks were reported at a transmission tower owned by Edison International’s Southern California Edison utility, but fire officials said it would take at least a week for them to come up with any substantial findings. Edison said in a statement Sunday that it would “fully cooperate with investigations.”The impact on Edison is expected to be minimal, according Citigroup Inc. analysts including Praful Mehta said in a report over the weekend. The utility has $750 million in wildfire insurance and now has the backing of a statewide wildfire insurance fund, they said. Investor concerns over the Saddleridge fire sent the stock sliding 3.9% on Oct. 11, the biggest weekly decline in more than four months.Undervalued StockBack in Northern California, PG&E said it had found 50 instances of weather-related damage in the course of inspecting lines following high winds. “There’s some vindication -- that’s not the right word,” Johnson said late Friday, but the fact that the utility discovered so many safety issues that could have ignited a wildfire made the blackout well worth it, he said.Johnson promised better communication going forward. For days, both ahead of the blackout and during it, the company’s website was down, overwhelmed by people trying to find out whether they would be cut off and for how long. Call centers were similarly flooded. Text messages to homes and businesses affected were few and far between.Read More: Dark Shops, Spotty Phones, Rotting Fish: Life in a Mass BlackoutThe operational act of turning off and on power actually “went really well,” Johnson said. But he committed to better notifications, more phone alerts, shorter call wait times and a website “that works no matter how much traffic is on it.”California officials will have their own say on what more should be done. Governor Gavin Newsom has blasted PG&E over the shutoffs, saying the company should have been more surgical -- and never would’ve been in this situation if it had invested in its infrastructure more heavily. He also called on state utility regulators to review PG&E’s actions.A spokeswoman for the California Public Utilities Commission said the agency, as a policy, reviewed all intentional outages by California utilities. PG&E said it will file a report with the agency detailing the damages it discovered.To contact the reporters on this story: Lynn Doan in San Francisco at firstname.lastname@example.org;Mark Chediak in San Francisco at email@example.com;Hailey Waller in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
AES Corp's (AES) subsidiary starts commercial operation at its 20-MW AC Antelope DSR 3 solar project, for providing energy to Edison International's subsidiary.
Millions of people were poised to lose electricity throughout northern and central California after Pacific Gas & Electric Co. announced Tuesday it would shut off power in the largest preventive outage in state history to try to avert wildfires caused by faulty lines. PG&E (PCG) said it would begin turning off power to 800,000 customers in 34 counties starting after midnight Wednesday amid forecasts of windy, dry weather that create extreme fire danger. To the south, Southern California Edison also said Tuesday that more than 106,000 of its customers in parts of eight counties could face power cuts.
As the Federal Reserve cuts interest rates, borrowing costs for companies have plummeted, leading to the refinancing of old debt at lower rates, as well as encouraging the assumption of yet more debt. Should the economy experience a significant slowdown, let alone slide into recession, servicing that debt is bound to become more problematic, sending shares of those debt-laden firms tumbling, according to several detailed stories in Bloomberg as outlined below. "Leverage is not a winning stock picking attribute,” warned Sandip Bhagat, the chief investment officer (CIO) at Whittier Trust. “The higher the leverage, the lousier the fundamentals, the lower quality the company is depicting.
If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see...
High school seniors whose dreams are to power the future and make a difference through the study of science, technology, engineering or math (STEM) are invited to apply for Edison International’s $1.2 million Edison Scholars Program. Each year, Edison International, the parent company of Southern California Edison, awards $40,000 scholarships, paid over four years, to 30 high school students who plan to major in designated STEM fields at a four-year accredited U.S. college or university. Applicants must live in SCE’s service area and plan to be a full-time undergraduate student majoring in a STEM field.
For the second time this week, PG&E Corporation (NYSE: PCG) has shut off power to thousands of California residents as a precautionary move to prevent possible wildfires given what it says are dangerous weather conditions. What Happened? On Wednesday, PG&E announced it has shut off power to 48,200 residents living in parts of Butte, Napa, Nevada, Placer, Plumas, Sonoma and Yuba counties in California. The latest shutdown comes after PG&E performed a similar shutdown impacting 24,000 residents earlier this week.
Edison International (EIX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Investors bid up offerings that Southern California Edison and its holding company, Edison International, will use to pay their required $2.4 billion contribution to help create a state wildfire insurance fund.