May 9, 2008 |
Utility owner Edison International said Thursday that sales rose for the year's first quarter, but net income fell 10% compared with the year-ago period, when results were boosted by a tax-related gain. The Rosemead-based company, which owns Southern California Edison Co., said net profit totaled $299 million, or 91 cents a share, for the three months that ended March 31, down from $333 million, or $1 a share, for the first quarter of 2007. Not counting special items, the per-share earnings were 92 cents, up from 90 cents and equal to analysts' mean estimate, according to Thomson Financial.
September 13, 2007 |
Edison International's Southern California Edison utility might not meet the state target for generating power from renewable energy sources, Chief Executive John Bryson said. A California law enacted last year requires utilities to get 20% of their electricity from renewable sources by 2010. Rosemead-based Southern California Edison last year provided 13 billion kilowatt-hours of power from renewable sources, or 17% of the total electricity it supplied.
March 11, 1998
Edison Capital, a financial services firm, recently closed two lease investments totaling $342 million in power plants in South Africa and the Netherlands. Edison Capital, a subsidiary of Edison International, invested $250 million in a transaction involving two 670-megawatt, coal-fired units that are part of the six-unit, 4,110-megawatt Majuba power station. The power station is located outside of Johannesburg, South Africa.
June 30, 2006 |
Edison International forecast a drop in 2006 profit on reduced earnings from power generation and investments. Net income is expected to drop to $3.13 a share this year from $3.47 in 2005, Edison said. Excluding a gain from a power-plant sale, costs for early debt retirement and benefits from a tax settlement, Edison forecast 2006 profit of $2.91 a share. Shares of Rosemead-based Edison fell 29 cents to $39.03.
October 28, 2000 |
PG&E Corp. and Edison International's plans for charging customers for the high power prices they paid this year won't be considered by two state officials reviewing problems with California's electricity market. Only accounting changes in how the utilities tally their power costs will be considered, said California Public Utilities Commission member Henry Duque and Assistant Chief Administrative Law Judge Angela Minkin at a meeting in San Francisco.
November 19, 2004 |
Rosemead-based Edison International said Thursday that it was raising its quarterly dividend by 25% to 25 cents a share. Edison suspended its dividend during the state's 2000-01 energy crisis as its Southern California Edison utility teetered on the brink of bankruptcy. It resumed payouts in January at the quarterly rate of 20 cents a share. The higher dividend will be payable on Jan. 31, 2005, to shareholders of record on Dec. 30.
June 25, 2001 |
Edison International is expected to issue $1.2 billion in bonds this week in a refinancing that will allow it to pay off bank loans that come due Saturday. But Rosemead-based Edison will pay a steep rate for the money. The bonds are expected to pay as much as 13%, well above the rate for other high-yield, or junk, investments. Investors are demanding the high rate because they fear the company could be dragged into bankruptcy by losses at its Southern California Edison utility.
July 27, 2007 |
State regulators approved $45.2 million of early-stage funding for Southern California Edison's program to install high-technology electricity meters that would give the utility and its customers more timely data on their power usage. The California Public Utilities Commission approved the funds to cover "pre-deployment" spending on business, technology and tariff programs before the utility, a unit of Edison International, installs the meter system for its 4.8 million customers.
May 1, 1999 |
Rosemead-based Edison International said its rapidly expanding Edison Mission Energy subsidiary has agreed to pay $2.03 billion to London-based PowerGen for two power plants in Britain. The Ferrybridge and Fiddler's Ferry electricity generating plants each have a generating capacity of about 2,000 megawatts, or enough to light 2 million homes.