Edison Intl Stock Price, News & Analysis

Edison International is offering a rebate of up to $4,000 for customers purchasing or leasing pre-owned electric vehicles (EVs) as part of Drive Electric Earth Day, a month-long national initiative aimed at promoting electric vehicle adoption. This initiative, which began on April 1, includes over 215 events across 41 states, designed to create a welcoming atmosphere for potential EV buyers. The rebates are funded through SCE's participation in California's Low Carbon Fuel Standard Program, promoting clean transportation and reducing greenhouse gas emissions. SCE is also addressing concerns over battery range anxiety by adding 30,000 EV charging stations in its service area in the coming years. The campaign seeks to enhance awareness and interest in EVs through community engagement.

Edison International submitted a proposal to the California Public Utilities Commission aimed at providing bill relief for lower-income households. If approved, this would reduce the fixed electric service costs for approximately 1.2 million lower-income customers by 16%-21% and decrease rates for all residential customers by 33%. The proposal is in response to the recently passed Assembly Bill 205, which supports an income-based fixed charge system. Under this system, lower-income customers would pay a fixed fee of $15 to $20, while higher earners could pay up to $85. The goal is to align with California's climate policies, making clean energy technologies more affordable for low-income families. The proceeding is expected to last until mid-2024.