Fighting to survive, an Altadena water company is charging a new ‘fire recovery fee' [Los Angeles Times (CA)]
Edison International (EIX)
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Source: Los Angeles Times
One small utility plans to charge residents more to stave off financial failure. Some in Altadena are objecting to the rising costs, saying it's one more financial burden as people work to rebuild. When the Eaton fire raged through neighborhoods in Altadena, the flames leveled three-quarters of the homes served by the tiny Las Flores Water Co. It also destroyed the roofs of two covered reservoirs where the utility stored drinking water. The company soon restored clean water to those homes left standing. But the disaster has left it with costly repairs, and a sharp drop in income since most of its 1,500 customers haven't yet rebuilt or reconnected their water. Attempting to avert financial failure, the private water company's board now plans to start charging people a new “fire recovery fee” of about $3,000 over the next five years, or about $50 a month. It's the best way to avoid insolvency, said John Bednarski, president of the Las Flores board. Its reserves, now roughly $50
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News
- Morgan Stanley Raises Edison (EIX) Price Target Amid Deleveraging and Wildfire Cost Securitization [Yahoo! Finance]Yahoo! Finance
- JPMorgan Revises Edison International (EIX) Assumptions Heading Into Earnings [Yahoo! Finance]Yahoo! Finance
- Southern California Edison Delivers More Than 200 Offers to Eaton Fire ClaimantsBusiness Wire
- Edison International (NYSE:EIX) had its price target raised by analysts at JPMorgan Chase & Co. from $65.00 to $66.00. They now have a "neutral" rating on the stock.MarketBeat
- Edison International (NYSE:EIX) had its price target lowered by analysts at Jefferies Financial Group Inc. from $59.00 to $54.00. They now have a "hold" rating on the stock.MarketBeat
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- 10/28/25 - Beat
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- 2/3/26 - Form 4
- 1/6/26 - Form 4
- 1/6/26 - Form 4
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