Edison Cuts Bonuses, Posts $4.5B Profit, Still Ties Housing Aid to Settlements
The NY Times reports Southern California Edison announced cuts to executive bonuses in the wake of the deadly January 2025 Eaton Fire, reducing roughly $2 million in compensation for six senior executives as pressure mounts over the company’s role in the disaster. The move reflects external criticism and internal recognition of the fire’s devastating impact, even as Edison reported substantial profits of $4.5 billion last year, up from $1.3 billion a year earlier. Edison acknowledged that its equipment may have sparked the blaze and has expanded its compensation program for victims, but many survivors and public critics argue the offers are insufficient and tied to waiving litigation rights to sue over health damages that loom for residents in the future due to the contamination impacts of the fire on the community. Edison continues to face hundreds of lawsuits and a criminal investigation into its potential liability in the fire.