(Reuters) -The CEO of Edison said on Thursday that the Fund of $ 21 billion in California’s fire may protect the Edison International budget if the company’s electrical -owned equipment was found that caused the Los Angeles Fire of the killer last month.
Southern California Edison, one of the largest electrical facilities in the state, faces a number of lawsuits that claim that power generation lines caused the Etone fire in the slopes of hills near Pasadina.
In a call with investors, CEO of Edison International Pedro Pizarro, CEO of Edison International Pizarro, said in a call with investors.
“We have confidence in the box,” he said.
The Eaton Fire fire was one of the multiple fire that broke out in the Los Angeles region on January 7, while it became the most natural disaster in American history. No official reason was launched for the main fires, including Etone.
Edison’s executive officials said at a phone conference with investors, which is likely to start burying more underground lines as an effort to relieve massive fires.
Edison International shares have decreased by 35 % since the beginning of forest fires, as investors worry that the company may face huge responsibility claims.
When pressing it by the Wall Street analysts for the duration of which it might take to determine the cause of the fire, Bizaro said it is extremely difficult to know the timing. “You may remember from the previous fires, it took 12 to 18 months even to obtain the investigation report from the official firefighting authorities that may help in taking conclusions,” he said.
The company said that the fire investigation also focuses on examining and testing the lethargy transmission line, which is also suspected of being a possible source of ignition.
The equipment on the line will be examined for the signs of the bow and the lost metal pieces, for example. The company said that this process may take several weeks because it requires agreement on a protocol with prosecutors and other interesting interests.
(I participated in the reports of Laila Kearney in New York and Tim McLeulin in Boston; edited by Leslie Adler, Sonali Paul and David Gregorio)
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