Edison International is a public utility holding company based in Rosemead, California. Its subsidiaries include Southern California Edison, and un-regulated non-utility business assets Edison Energy. Edison's roots trace back to Holt & Knupps, a company founded in 1886 as a provider of street lights in Visalia, California. Wikipedia.
News Article | February 15, 2017
IRVINE, Calif.--(BUSINESS WIRE)--ENERActive Solutions, an Edison Energy company, today announced that it has been chosen by the New York City Department of Citywide Administrative Services (DCAS) to conduct audits and retro-commissioning projects on municipal buildings throughout New York City. ENERActive’s consultation will ensure that DCAS complies with New York City’s Local Law 87 (LL87), which requires buildings over 50,000 gross square feet to undergo periodic energy audit and retro-commissioning measures to help building owners and managers measure and develop an action plan to save energy. “It is an honor to partner with DCAS on this very exciting and important project in the initial phase of audits and recommendations,” said Dan Weeden, president and CEO, ENERActive Solutions. “Our mission is to offer solutions that will ensure compliance with LL87 and provide forward-looking plans that will allow these important facilities – such as schools, public transportation depots and hospitals – to utilize energy in a more efficient manner, positioning them to be more sustainable for years to come.” ENERActive will perform a thorough assessment of each building’s energy portfolio, allowing the company to advise DCAS on the optimum solutions for energy improvements through replacement and upgrades, as well as installation of new technology and implementation of renewable energy projects. The company will also offer guidance related to optimization of current equipment and operations, verifying that existing equipment meets current energy needs and providing staff training to ensure plans can be properly implemented and overseen. New York City is on a path to reduce citywide emissions by 80 percent by 2050. Public buildings are required to lead by example and reduce emissions from government buildings by 35 percent by 2025, as outlined in New York City’s sustainability plan, One City, Built to Last. Assessing the energy use of the city’s buildings and making the necessary changes or upgrades to infrastructure is a key step towards meeting these targets, as most buildings consume an average of 30 percent more energy than is needed to operate. ENERActive’s consultation and solutions are effective at cutting energy use and quick to implement, therefore critical to meet the urgent 35 percent reduction by 2025. For more information about Local Law 87 and the City’s progress in meeting its sustainability goals read our blog: http://www.edisonenergy.com/blog/blog-posts/energy-audits-retro-commissioning-reduce-new-york-city-ghg-emissions/ Headquartered in Asbury Park, NJ, with offices in New York City, Boston, Chicago, and Washington D.C., ENERActive Solutions is an independent, full service energy consulting, engineering, and project development firm specializing in the assessment, design, development, and installation of energy efficiency projects, building system optimization programs, and power generation solutions. ENERActive is also a Platinum Sponsor of Special Olympics New Jersey. For ongoing news, please go to http://eneractivesolutions.com/latest.html. Edison Energy, a subsidiary of Edison International, is an independent energy advisory and solutions integration company with the capabilities to develop and implement a broad range of energy solutions for the largest energy users. Edison Energy is focused on helping its customers reduce their energy costs, improve the environmental performance of their operations, ensure energy resiliency and manage exposure to energy price risk. For more information about Edison Energy visit www.edisonenergy.com. Edison Energy is not the same company as Southern California Edison, the utility, and Edison Energy is not regulated by the California Public Utilities Commission.
News Article | December 14, 2016
ROSEMEAD, Calif.--(BUSINESS WIRE)--First paragraph, first sentence of the release dated December 14, 2016, at 1:17 a.m. ET/December 13, 2016, at 10:17 p.m. PT, has been changed to correct an embedded link. Southern California Edison (SCE) is disappointed in a ruling issued Tuesday by the assigned commissioner and an administrative law judge at the California Public Utilities Commission directing that SCE confer with other parties in the San Onofre nuclear plant proceeding regarding possible changes to the SONGS settlement that was unanimously approved by the CPUC in 2014. SCE continues to believe the settlement reflects an appropriate allocation of costs but will begin preparing to participate in the process spelled out in the ruling to schedule a meeting and confer with other parties by Jan. 31. The settlement of the San Onofre nuclear plant shutdown protects customer interests by requiring investors to pay for the replacement steam generators that prompted the closure of San Onofre in June 2013 from the point that they failed. SCE has provided or will provide refunds and rate reductions of almost $1.6 billion under the settlement, and this amount may be increased by recoveries from Mitsubishi Heavy Industries, the supplier of the defective steam generators. The previously approved settlement also reduced the amount residential customers pay in their monthly bills for past investments to build and maintain San Onofre, which provided safe, reliable, low-cost power for nearly 30 years. SCE retired San Onofre in June 2013 and is focused on safely decommissioning the nuclear plant, guided by core principles of safety, stewardship and engagement. SCE has established a Community Engagement Panel to support those principles. For more information, visit songscommunity.com. An Edison International (NYSE:EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of nearly 14 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.
Cheryl Edison, co founder of The Gate 510, to share professional insight into real estate trends and safety implications for repurposing warehouses, factories and retail malls; with synergetic response to the recent Oakland fire tragedy
News Article | December 6, 2016
SAN LEANDRO, CA--(Marketwired - December 06, 2016) - The Gate 510, a creative commercial space for the art, tech and maker community, based in an upcycled warehouse, factory and shopping mall, announces Cheryl Edison is to join the Urban Land Institute panel for PWC Emerging Trends in Real Estate. Cheryl Edison said, "I am grateful to have the opportunity to highlight best practices, insight and perspective on emerging real estate trends, especially now as our community grieves the Oakland warehouse fire. It is possible to create environments where artists, makers and tech companies thrive in collaboration with the goals of developers and cities. Through my company, Edison International, I have had the opportunity to prototype new revenue models and prove out strategies and systems for leading developers, including ScanlanKemperBard and now WHI Real Estate Partners, whereby underutilized properties including warehouses, factories and retail buildings are repositioned and transformed into places where creativity, community and commerce grow. It has been a pleasure to work with my partners to transform the Westgate Mall with its 1940's Dodge Plymouth Car plant from puzzling commercial property in an economically challenged city, into a successful Makerspace, packed with Silicon Valley innovation leaders. Now is the time to develop more properties into places. More cities can benefit, developers succeed and artists, makers and technology companies can all thrive. The challenge is to discover the overlap in our common goals and adapt a shared language so that we can work together with more ease. There is so much good that wants to happen next." Stephen Wong, Senior Vice President of ScanlanKemperBard, together with WHI Real Estate Partners, owns and operates the property where TheGate510 and TheFactory510 were launched. "We applaud our tenants for their innovations and The Factory 510, for their co-working and creative space programs as the next step in our goal to provide art, tech and makers a place to meet, test projects, and grow their businesses," he continued, "All tenants of our building have full access to the newly outfitted lounges, co-working areas and program activities with new Factory 510 members, creating one of the largest incubation and acceleration environments for creative entrepreneurship in the whole Bay Area." The annual ULI Emerging Trends event and real estate publication has a 35-year history as one of the most highly-regarded and widely-read trends reports in the real estate industry from PricewaterhouseCoopers and ULI. A panel of leading East Bay and San Francisco real estate executives will respond to the Emerging Trends projections. The panel will reflect on local issues impacting the East Bay and San Francisco markets. Download the Emerging Trends in Real Estate report >> Register for the event here >> Kathleen Carey, President and CEO of the ULI Foundation The Gate 510 was cofounded by Cheryl Edison and is the nation's premier Makerspace, succeeding beyond the concept of a "commercial property." The Gate 510 melds commerce and creativity under one roof to meet the expanding needs of the 21st century's movers and shakers. Studded with high quality amenities, The Gate is five minutes from Oakland International Airport, has the nation's fastest fiber optic internet and nurtures a thriving community of large- scale artists, technologists, and makers. Make It Here! http://thegate510.com The Factory 510 was cofounded by Cheryl Edison and is creating a whole new definition of a place to work through an innovative business model that builds property value and local economies as it nurtures entrepreneurial companies and projects, TheFactory510 offers creative coworking programs for short term and drop-in users in an energetic accelerator/incubator environment. The Factory's memberships provide the right space for your next big thing. http://thefactory510.com ScanlanKemperBard is a privately held real estate merchant bank based in Portland, OR which acquires, manages and transforms commercial properties into profitable, risk-adjusted returns for select high-net-worth individuals, family offices, trusts, and institutional investors. https://skbcos.com/
News Article | February 21, 2017
ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE:EIX) today reported fourth quarter 2016 net income of $345 million, or $1.06 per share, compared to a net loss of $79 million, or $0.24 loss per share, in the fourth quarter 2015. As adjusted, fourth quarter 2016 core earnings were $332 million, or $1.02 per share, compared to core earnings of $287 million, or $0.88 per share, in the fourth quarter 2015. Southern California Edison's (SCE) fourth quarter 2016 net income increased by $419 million, or $1.29 per share, from the fourth quarter 2015. SCE's increase in net income consisted of $49 million of higher core earnings and $370 million of higher non-core earnings. The increase in core earnings was due to an increase in revenue from the escalation mechanism as set forth in the 2015 General Rate Case (GRC) and lower operations and maintenance expenses, partially offset by higher net financing costs and tax expense. There were no SCE non-core items in the fourth quarter 2016 results. Fourth quarter 2015 SCE core earnings excluded losses of $370 million, or $1.14 per share. This is primarily related to the $382 million, or $1.18 per share, write-down of SCE deferred income tax regulatory asset from certain 2012-2014 tax repair deductions. Fourth quarter 2016 losses from continuing operations at Edison International Parent and Other increased by $16 million, or $0.05 per share, compared to fourth quarter 2015. This increase consisted of $4 million of higher core losses and $12 million of non-core income related to the fourth quarter 2015. The higher core losses reflected lower revenue from Edison Capital's affordable housing investment portfolio, partially offset by lower corporate expenses. There were no non-core items in the fourth quarter 2016 for Edison International Parent and Other. Fourth quarter 2015 non-core items included income of $10 million, or $0.03 per share, related to the completion of the sale of Edison Capital's affordable housing investment portfolio and $2 million, or $0.01 per share, of income under the hypothetical liquidation at book value (HLBV) accounting method. Additionally, Edison International recorded $13 million of income, or $0.04 per share, and losses of $8 million, or $0.02 per share, from discontinued operations for the fourth quarter 2016 and fourth quarter 2015, respectively. “Edison International delivered excellent fourth quarter and full-year results at the high end of our guidance range, led by SCE’s strong operating performance,” said Pedro Pizarro, Edison International president and chief executive officer. “Additionally, we have introduced 2017 earnings guidance with the midpoint above consensus analyst estimates.” For 2016, Edison International reported net income of $1,311 million, or $4.02 per share, compared to $1,020 million, or $3.13 per share, in 2015. On an adjusted basis, Edison International’s core earnings were $1,294 million, or $3.97 per share, compared to $1,336 million, or $4.10 per share, in 2015. SCE’s 2016 net income increased $378 million, or $1.16 per share, from 2015. SCE's increased net income consisted of $8 million, or $0.02 per share, of higher core earnings and $370 million, or $1.14 per share, of higher non-core earnings. The increase in core earnings was due to an increase in revenue from the escalation mechanism as set forth in the 2015 GRC and lower operations and maintenance expenses, partially offset by higher net financing costs and tax expense. There were no non-core items in 2016 SCE results. 2015 SCE core earnings excluded losses of $370 million, or $1.14 per share. This loss primarily related to the $382 million, or $1.18 per share, write-down of SCE deferred income tax regulatory asset from certain 2012-2014 tax repair deductions. Edison International Parent and Other losses from continuing operations for 2016 increased by $64 million, or $0.19 per share, compared to 2015. This increase consisted of $50 million, or $0.15 per share, of higher core losses and $14 million, or $0.04 per share, of higher non-core losses. During the second quarter 2016, Edison International Parent and Other recorded an after-tax charge of $13 million, or $0.04 per share, related to the buy-out of an earn-out provision with the former shareholders of a company acquired by Edison Energy at the end of 2015. In addition, higher core losses reflected higher Edison Energy Group operating and development costs and lower results at SoCore Energy. Results during 2015 included income from Edison Capital's investments in affordable housing projects, which were sold at the end of 2015. Edison International Parent and Other's non-core items for 2016 included income of $5 million, or $0.02 per share, compared to income of $9 million, or $0.03 per share, for 2015 related to losses under the HLBV accounting method. During 2015, Edison International Parent and Other recorded non-core income of $10 million, or $0.03 per share, related to the completion of the sale of Edison Capital's affordable housing investment portfolio. Additionally, Edison International recorded income of $12 million, or $0.03 per share, and $35 million, or $0.11 per share, from discontinued operations for 2016 and 2015, respectively. Edison International uses core earnings, which is a non-GAAP financial measure that adjusts for significant discrete items that management does not consider representative of ongoing earnings. Edison International management believes that core earnings provide more meaningful comparisons of performance from period to period. Please see the attached tables for a reconciliation of core earnings to basic GAAP earnings. The company announced basic and core earnings guidance of $4.04 to $4.24 per share for 2017. See the presentation accompanying the company’s conference call for further information including key guidance assumptions. Edison International (NYSE:EIX), through its subsidiaries, is a generator and distributor of electric power, as well as a provider of energy services and technologies, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities. Edison International is also the parent company of Edison Energy Group, a portfolio of competitive businesses that provide commercial and industrial customers with energy management and procurement services and distributed solar generation. Edison Energy Group companies are independent from Southern California Edison. Use of Non-GAAP Financial Measures Edison International’s earnings are prepared in accordance with generally accepted accounting principles used in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission. Our management uses core earnings and core earnings per share (EPS) internally for financial planning and for analysis of performance of Edison International and Southern California Edison. We also use core earnings and core EPS when communicating with analysts and investors regarding our earnings results to facilitate comparisons of the Company’s performance from period to period. Financial measures referred to as net income, basic EPS, core earnings, or core EPS also apply to the description of earnings or earnings per share. Core earnings and core EPS are non-GAAP financial measures and may not be comparable to those of other companies. Core earnings and core EPS are defined as basic earnings and basic EPS excluding income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings. Basic earnings and losses refer to net income or losses attributable to Edison International shareholders. Core earnings are reconciled to basic earnings in the attached tables. The impact of participating securities (vested awards that earn dividend equivalents that may participate in undistributed earnings with common stock) for the principal operating subsidiary is not material to the principal operating subsidiary’s EPS and is therefore reflected in the results of the Edison International holding company, which is included in Edison International Parent and Other. Statements contained in this release about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, are forward-looking statements. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. These forward-looking statements represent our expectations only as of the date of this release, and Edison International assumes no duty to update them to reflect new information, events or circumstances. Important factors that could cause different results include, but are not limited to the: Other important factors are discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis” in Edison International’s Form 10-K, most recent Form 10-Q, and other reports filed with the Securities and Exchange Commission, which are available on our website: www.edisoninvestor.com. These filings also provide additional information on historical and other factual data contained in this news release. These forward-looking statements represent our expectations only as of the date of this news release, and Edison International assumes no duty to update them to reflect new information, events or circumstances.
News Article | February 23, 2017
ROSEMEAD, Calif.--(BUSINESS WIRE)--The Board of Directors of Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.5425 per share, payable on April 30, 2017, to shareholders of record on March 31, 2017. Edison International (NYSE:EIX), through its subsidiaries, is a generator and distributor of electric power, as well as a provider of energy services and technologies, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities. Edison International is also the parent company of Edison Energy Group, a portfolio of competitive businesses that provide commercial and industrial customers with energy management and procurement services and distributed solar generation. Edison Energy Group companies are independent from Southern California Edison.
Edison International | Date: 2016-03-10
A control method for controlling the intrusion of dissolved solids into a fresh water aquifer located proximate to an ocean includes the steps of: a) frequently measuring the TDS content at a control location, such frequent measuring of TDS content at the control location being conducted at least about once per calendar quarter, the frequent measuring of TDS content at the control location providing a plurality of control location TDS content values; b) comparing one or more of the plurality of control location TDS content values to a predetermined TDS control range; and c) adjusting the TDS content at the control location to within the predetermined TDS control range by one or more control measures.
Edison International | Date: 2015-09-02
A system for reducing salt water intrusion into a fresh water aquifer includes: a) generating means for removing brackish water from the aquifer via an brackish water extraction well at a first distance from the ocean; b) removal means for introducing the removed brackish water into a desalination system to generate a first stream of water with a first salt content and a second stream of water having a second salt content, the first salt content being less than the second salt content and less than the salt content of the removed brackish water; and c) introduction means for introducing at least a portion of the first stream of water into the aquifer via a barrier well at a second distance from the ocean, the second distance being greater than the first distance.
News Article | October 31, 2016
LOS ANGELES--(BUSINESS WIRE)--LA 2024 today announced Edison International’s support that reinforces the Olympic and Paralympic bid’s commitment to staging an innovative, energy efficient and environmentally friendly Games and that provides experience and support to bring the Games back to the USA for the first time in 28 years. Edison International, headquartered in Southern California, is a leading energy company that, through its subsidiaries, including the Southern California Edison utility
News Article | August 22, 2016
The California Public Utilities Commission, in a May 26 resolution, directed Edison International subsidiary South California Edison (SCE) to hold an expedited competitive energy storage procurement solicitation for capacity that must be available by the end of the year.
News Article | February 23, 2017
CHARLOTTE, N.C., Feb. 23, 2017 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of former Edison International chairman, president and CEO, Theodore F. ("Ted") Craver Jr., as a new board member, effective March 1, 2017. "Ted Craver has an...