(Reuters) – Southern California Edison has reached a settlement agreement with several intervenors to allow the utility to recover about $2 billion of $5.6 billion in losses tied to the 2017–2018 wildfire and mudslide events.
Out of the $2 billion, about $1.6 billion consists of uninsured claims and $400 million comprises of legal costs paid as of May 31 this year, the company’s parent, Edison International, said on Friday.
The costs are primarily related to the Woolsey fire of 2018 that burned 96,949 acres of land in California, destroyed 1,643 structures, killed three people, and prompted the evacuation of more than 295,000 people…