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.
December 6, 2000 |
Edison International said Tuesday that its Edison Mission Energy Global Management Inc. unit in Irvine has scheduled a special shareholder meeting for Dec. 15 to vote on a plan of dissolution and liquidation. Upon shareholder approval, holders of the 1,200 shares of preferred stock will receive an additional liquidation premium of $3,875 a share and accrued dividends to and including Dec. 20.
April 18, 1996
Edison Mission Energy said Wednesday that it has completed the $70-million sale of its 50% stake in four geothermal facilities to CalEnergy Co. Inc. of Omaha. Under terms of the agreement, CalEnergy purchased the Vulcan, Hoch, Leathers and Elmore power plants in the Imperial Valley. Geothermal plants use hot water taken from the ground to produce steam, which is forced through turbines to produce energy.
November 21, 2006 |
Former KB Home Chief Executive Bruce Karatz, who retired last week amid a stock option scandal, has resigned from the boards of directors of Rosemead-based Edison International and its utility, Southern California Edison Co., Edison said Monday. The board resignations were effective Nov. 13 and "did not involve any disagreement" relating to Edison, according to regulatory filings. Honeywell International Inc. said Karatz had resigned from its board Nov. 14.
August 15, 2002 |
Edison International, parent of Southern California Edison, said it had been notified by the Internal Revenue Service that its taxes contained "deficiencies" for tax years 1994 to 1996. The Rosemead-based company said in a regulatory filing that it plans to challenge the IRS findings. Edison said it has "meritorious legal defenses" to the issues, most of which it dismissed as "timing deficiencies." Separately, Southern California Edison said it prepaid $300 million of a $1.