"Pedro Pizarro, chief executive of the parent company of Southern California Edison, received $16.6 million in cash, stock and other compensation last year, up 20% from 2024, according to a new company filing. Steven Powell, president of Southern California Edison, received compensation totaling $6.5 million last year, up from $3.9 million in 2024 - a jump of more than 65%."
"The utility's transmission equipment is suspected of igniting two wildfires on Jan. 7, 2025, including the Eaton fire, which left thousands of families homeless. The Times earlier detailed how Edison fell behind in performing maintenance on its aging transmission lines - work that it had told state utility regulators was needed."
"A state law championed by Gov. Gavin Newsom in 2019 protects utilities from paying for the damage due to fires sparked by their equipment. When it passed, Newsom touted the law's requirement that utilities must tie executive compensation to their safety record, saying it would keep them accountable."
Edison International raised compensation for top executives in 2025 despite their oversight of power lines suspected of igniting the Eaton fire in Altadena. CEO Pedro Pizarro received $16.6 million, a 20% increase, while Southern California Edison President Steven Powell's compensation jumped 65% to $6.5 million. Although cash bonuses were reduced citing wildfires, overall compensation increased as company profits soared. Edison's transmission equipment is suspected of igniting two fires on January 7, 2025. The utility had fallen behind on maintenance of aging transmission lines previously deemed necessary by state regulators. County prosecutors are investigating potential criminal charges against Edison. A 2019 state law championed by Governor Newsom requires utilities to tie executive compensation to safety performance, though the law uses permissive language allowing rather than mandating this requirement.
#executive-compensation #utility-safety #eaton-fire #regulatory-accountability #corporate-responsibility
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