Rosemead, CA, United States

Edison International

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Rosemead, CA, United States

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.

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News Article | April 19, 2017
Site: www.prlog.org

-- Edison International President and CEO Pedro J. Pizarro presented Don Bosco Technical Institute (Bosco Tech) senior Willam Ramos with a 2017 Edison International Scholar award and scholarship on April 10.Ramos, who will begin his studies in chemistry at California Polytechnic State University, San Luis Obispo (SLO) this fall, was one of 1,200 applicants for the scholarship that is annually awarded to 30 high-achieving high school seniors within Edison's broad service area who plan to pursue STEM degrees at four-year colleges and universities."Edison International congratulates this year's outstanding scholars," said Pizarro. "Through their pursuit of science, technology, engineering and math, we believe these students will make important contributions to our communities and society. We are proud to support them."Ramos, who was surprised and excited to receive the Edison award, is studying Materials Science, Engineering & Technology (MSET). He is a member of the school's award-winning band, a Youth Ministry program leader, and a Bosco Tech Ambassador."William truly epitomizes what a Bosco Tech student is," said Bosco Tech President Xavier Jimenez. "He is an intelligent, inquisitive student who wholeheartedly applies himself to his studies and who appreciates the opportunity to learn. He plans to become a teacher in order to instill in other young people a love of science. We're thrilled that Edison International has recognized William's abilities and potential."Celebrating its sixty second year, Bosco Tech is an all-male Catholic high school that combines a rigorous college-preparatory program with a technology-focused education. The innovative STEM curriculum allows students to exceed university admission requirements while completing extensive integrated coursework in one of five applied science and engineering fields. Each year for the past several years, one hundred percent of the graduating class has earned college acceptances. Visit www.boscotech.edu for more information.Edison International, 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's support of charitable causes, such as the Edison Scholars Program, is funded entirely by Edison International shareholders;SCE customers' utility bill payments do not fund company donations.


News Article | April 17, 2017
Site: www.greentechmedia.com

According to a report in Power Finance & Risk, Goldman Sachs has been retained to help sell Spruce Finance. Sources tell GTM that Spruce has been trying to sell itself for the past three quarters. Rumors about the future of the company and its leadership are rife. Spruce is the product of a merger between Clean Power Finance and Kilowatt Financial and provides financing for residential solar, water conservation and energy efficiency. The two merged companies have raised more than $2 billion. In early 2016, Spruce received $175 million from U.S. Bancorp Community Development Corporation to finance residential solar. Clean Power Finance's investors have included Edison International, Duke Energy, Google Ventures, Kleiner Perkins Caufield & Byers, Hennessey Capital, Claremont Creek Ventures and Sand Hill Angels. Kleiner was also an investor in Kilowatt Financial. GTM confirmed that Spruce issued layoffs in February, although the numbers involved were small enough that they didn't require WARN notices. Last week, Spruce told GTM that it has recently raised project and equity financing. Chris Wirth, a spokesperson for Spruce, told GTM today: "As a finance company, we're always raising capital and have an active pipeline. We recently raised equity from existing investors and announced significant project financing raises earlier this year. We’re constantly exploring innovative financing structures to lower the cost of capital for residential solar and home efficiency financing." That's the official line. CEO Nat Kreamer is out of the country and not available for comment. GTM sources have reported receiving resumes from laid-off and active Spruce employees; that CFO Darren Thompson is acting as company president; that solar installer partners are being paid late or not at all; and that there's too much debt for Spruce to service. Sources suggest another round of layoffs will be needed to trim back the business and avoid a fate similar to Sungevity. Years of manic growth have enabled some solar industry players to cover up deficiencies in their products, services or cost stacks. This year's leaner market growth and slimmer margins are exposing the weaknesses of some of the solar industry's leading firms.


News Article | April 21, 2017
Site: www.forbes.com

California may be at the vortex of Earth Day. Reducing greenhouse gas emissions is the state's number one goal, which it's working to achieve in a variety of ways, most notably by using more renewable energy. But to hit its green energy target, California will rely on new technologies like energy storage and demand response. In an ideal world, energy storage devices would soak up electricity at night when the cost of power is cheaper and then release it during the day if the wind is not blowing or the sun is not shining. In the real world, the technology is used to keep the electrical grid balanced and to prevent changes in frequency that can cause the lights to flicker out and potentially prompt rolling blackouts. In other words, the batteries detect an imbalance and immediately respond. California is trying to inspire investment in those tools that can inject electrons onto the grid: The California Public Utility Commission is requiring the utilities PG&E, San Diego Gas & Electric and Southern California Edison to collectively buy 1,325 megawatts of energy storage by 2020. To that end, Sempra Energy’s San Diego Gas & Electric has just signed contracts for 83.5 megawatts from five storage projects that use lithium-ion batteries. If approved by the California Public Utilities Commission, the utility will own and operate two of the five facilities that will come online between 2019 and 2021. The utility is on target to procure 165 megawatts of energy storage by 2020. “By building these projects, San Diego Gas & Electric will remain at the forefront of helping the state achieve its bold clean-energy and carbon-emission targets,” says Emily Shults, the company’s vice president for energy procurement. Similarly, Edison International’s Southern California Edison has the Tehachapi Energy Storage Project. It is located on a wind farm about 100 miles north of Los Angeles -- an undertaking that is part of the 2009 federal stimulus plan. The Tehachapi Energy Storage Project is projected to generate 8 megawatts for four full hours, which equates to 32 megawatt/hours. It also uses lithium-ion batteries, which are able to store and to discharge electricity at any time, although they have a limited duration. California is looking to revamp its greenhouse gas emission goals and has proposed a 40% reduction from 1990 levels by 2030. It has several tools in its arsenal to try and achieve that objective, with the increased use of renewables being a key method; it now has a 50% green energy mandate by 2030. “Our research shows considerable near-term potential for stationary energy storage,” McKinsey & Co. said in a report. “One reason for this is that costs are falling and could be $200 per kilowatt-hour in 2020, half today’s price, and $160 per kilowatt-hour or less in 2025.” Longer term and as the technology matures, it sees even greater business opportunities. No doubt, energy storage could add tremendous value in electricity markets. Still, the cost of such technology has limited its deployment. If a project is going to add up to $1 billion, utility executives want to see proof that the investment can be recouped and how that cost will be shared. Utilities are, by nature, conservative organizations that have long-term outlooks. When they build power generation, they are looking out at least 20 years. Energy storage is no different. To make it economically practical, the devices need to serve multiple functions such as injecting electrons to prevent outages or ultimately firming up intermittent renewable power. Energy storage is vital to the success of renewable generation. But so too is demand response. That’s why San Diego Gas & Electric has also just signed a contract to add a 4.5 megawatt demand response program that prompts consumers to shift their energy consumption when electricity prices skyrocket. That is preventing congestion and possibly brownouts during peak usage while also making room for more green electrons. It’s especially valuable if states increase their renewable energy requirements. California’s 50% goal by 2030 is one such challenge. That’s why experts emphasize that it is important to make investments in a modern grid. Such improvements would give utilities the opportunity to communicate with their customers so that they adjust their energy usage. “Through smart communications and quick communications and control, the other generators on the system are adjusting accordingly” to compensate for the variability of renewable power, says Ron Litzinger, president of the Irvine, Calif.-based Edison Energy Group. California has set the national pace when it comes to emissions reductions and renewable energy additions by advancing energy storage and demand response technologies. And while the state’s utilities are asking the hard questions and getting some federal assistance, they are helping to facilitate the movement — something that deserves notice on Earth Day 2017.


News Article | May 1, 2017
Site: www.businesswire.com

ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE:EIX) today reported first quarter 2017 net income of $362 million, or $1.11 per share, compared to $281 million, or $0.86 per share, in the first quarter of 2016. There were no non-core items in the first quarter 2017 results. First quarter 2016 core earnings were $278 million, or $0.85 per share. Southern California Edison's (SCE) first quarter 2017 net income increased by $54 million, or $0.17 per share, from the first quarter 2016 due to an increase in revenue from the escalation mechanism set forth in the 2015 General Rate Case (GRC) decision, lower operation and maintenance expenses, and higher income tax benefits partially offset by higher net financing costs to finance SCE's capital spending program. Edison International Parent and Other’s first quarter 2017 net income increased by $28 million, or $0.08 per share, compared to first quarter 2016. The increase in net income was due to higher core earnings of $30 million, or $0.09 per share, and $2 million, or $0.01 per share, of lower non-core earnings. The higher core earnings were due to higher income tax benefits related to stock option exercises. "Edison International is off to a solid start in 2017, reporting first quarter earnings of $1.11 per share," said Pedro Pizarro, Edison International president and chief executive officer. "It is early in the year, so for now we have left our full year guidance unchanged. Our normal practice is to wait until more of the year has gone by before formally updating guidance. At the same time, we recognize there is a bias toward the upper half of the range." The company reaffirmed its earnings guidance for 2017 as summarized in the following chart. See the presentation accompanying the company’s conference call for further information, including key guidance assumptions. In March 2016, the Financial Accounting Standards Board issued a new accounting standard for employee share-based payments. Edison International adopted this accounting standard during the fourth quarter of 2016, effective January 1, 2016. Under this new standard, share-based payments may create a permanent difference between the amount of compensation expense recognized for book and tax purposes. The tax impact of this permanent difference is recognized in earnings in the period it is created. First quarter 2016 earnings were updated to reflect the implementation of the accounting standard for share-based payments effective January 1, 2016. See the First Quarter Reconciliation tables below and the presentation accompanying the company’s conference call for further information. 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, California, 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, rate base growth, 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. 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. Edison International and SCE also routinely post or provide direct links to presentations, documents, and other information that may be of interest to investors at www.edisoninvestor.com (Events and Presentations) in order to publicly disseminate such information. 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. Note: Diluted earnings were $1.10 and $0.85 per share for the three months ended March 31, 2017 and 2016, respectively.


ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE:EIX) and Southern California Edison today announced that Timothy T. O’Toole has been elected to the board of directors of each company, effective August 1. “Tim’s impressive background will provide our boards with a wealth of experience and skills,” said Bill Sullivan, chair of the Edison International board of directors. “We look forward to his valuable contributions on a variety of significant issues.” “Tim’s extensive knowledge of the transportation sector, as well as his leadership abilities in an industry with an intense focus on safety values, will be extremely important as we move forward on a number of initiatives, including transportation electrification efforts,” said Pedro Pizarro, president and chief executive officer of Edison International. O’Toole, 62, is chief executive officer of FirstGroup PLC, a leading bus and rail transport operator in North America and the United Kingdom. The company’s divisions, which include Greyhound, First Student and First Transit in the U.S. and Canada, as well as First Bus and First Rail in the U.K., transport approximately 2.2 billion passengers annually. Prior to joining FirstGroup in 2009, O’Toole served as managing director of the London Underground, having previously been at Transport for London. O’Toole served as chief executive officer and president of Consolidated Rail Corporation from 1998 to 2001, having joined the company in 1980 as a corporate attorney and assistant to the president. He also served as vice president and general counsel, vice president and treasurer, senior vice president, Finance and chief financial officer, as well as senior vice president of Law and Government Affairs, during his tenure with the firm. O’Toole currently serves on the FirstGroup PLC board of directors. Previously, he was on the board of directors at CSX Corporation and Rail Delivery Group, Ltd. He earned a bachelor’s degree from LaSalle University in Philadelphia, and a J.D. from the University of Pittsburgh. 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.


News Article | May 31, 2017
Site: www.businesswire.com

ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International’s (NYSE:EIX) board of directors has elected Sam Ramraj vice president of investor relations, effective June 16, 2017. "We are pleased to have a person of Sam’s experience and skill joining the Edison International team to lead our investor relations program," said Maria Rigatti, Edison International executive vice president and chief financial officer. Ramraj will succeed Scott Cunningham, who will be retiring at the end of June. Ramraj has more than 20 years of experience in corporate investor relations and sell-side equity research and currently serves as vice president of investor relations for Tesoro Corporation. Tesoro Corporation, a Fortune 100 company, is an independent refiner and marketer of petroleum products. He also held various investor relations roles at URS Corporation, which was acquired by AECOM Technology Corporation in 2014, and was an equity research analyst with various investment banks, including Lehman Brothers, Salomon Smith Barney, and Dresdner Kleinwort Benson. Ramraj earned an MBA in Finance & Investments at The George Washington University in Washington, DC, and a Master of Commerce degree in Accounting at Annamalai University in Tamil Nadu, India. He earned a Bachelor of Commerce degree in Accounting at PSG College of Arts & Sciences, also located in Tamil Nadu. 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, California, 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.


ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE:EIX) and Southern California Edison today announced that Michael C. Camuñez has been elected to the board of directors of each company, effective June 15. “Michael brings a unique combination of diverse experience and skills to our boards,” said Bill Sullivan, chair of the Edison International board of directors. “We look forward to his insights and counsel on a broad range of critical issues.” “Michael’s public policy expertise, from a shared state, national and international perspective, as well as his extensive legal background and business leadership abilities, will be extremely valuable to our companies,” said Pedro Pizarro, president and chief executive officer of Edison International. Camuñez, 48, is president and chief executive officer of ManattJones Global Strategies, LLC. The firm offers strategic consulting, risk management and market assessment services to FORTUNE 500 companies, specializing in matters related to international business, corporate governance, public affairs, due diligence, economic policy and government relations. Prior to joining ManattJones Global Strategies in 2013, Camuñez served in the U.S. Department of Commerce as assistant secretary for market access and compliance, where he helped to lead the federal government’s efforts to open new markets for U.S. goods and services. In that role, he visited more than 30 countries to advance U.S. trade and economic policy. Before his Department of Commerce service, Camuñez was special counsel to President Obama in the Office of the White House Counsel and special assistant to the president, where he helped manage senior appointments to the domestic cabinet. Prior to his White House roles, Camuñez was an equity partner at the law firm of O’Melveny & Myers, LLP, where he worked for more than 10 years. Camuñez currently serves on the boards of the Pacific Council on International Policy and the U.S.-Mexico Chamber of Commerce. He earned a bachelor’s degree from Harvard University and a J.D. from Stanford Law School. 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.


News Article | June 29, 2017
Site: www.businesswire.com

In addition to the live conference call and webcast, a telephone replay will be available through August 10, 2017 at the following numbers: 1-800-846-4244 – for callers in the United States 1-203-369-3650 – for international callers Passcode: 48652 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.


Patent
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.


Patent
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.

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