Edison International shares on watch as Malibu fire grows to 3,000 acres

Edison International (NYSE:EIX ), the parent company of Southern California Edison (SCE), is on watch as the Franklin Fire in Malibu has expanded to 3,000 acres, posing a threat to residential areas. The wildfire's growth is attributed to atypical wind conditions in Southern California, which have fueled the flames and exacerbated the situation.

SCE, a subsidiary of Edison International, has yet to issue an Electric Safety Incident Report (ESIR) in relation to the ongoing fire.

While the cause of the Franklin Fire has not been officially determined, the involvement of electrical infrastructure in wildfires has been a point of concern in the past. Utility companies like SCE are often scrutinized for their role in maintaining safety around power lines and equipment, especially during high-risk conditions such as those currently affecting Southern California.

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Source: Investing.com