EIX - Earnings call transcript Q1 2024

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Operator

Good afternoon, and welcome to the Edison International First Quarter 2024 Financial Teleconference. My name is Missy, and I'll be your operator today. [Operator Instructions] Today's call is being recorded.

I would now like to turn the call over to Mr. Sam Ramraj, Vice President of Investor Relations. Mr. your begin may you conference. Ramraj,

Sam Ramraj

and Thank everyone. you, Missy, welcome,

are and Officer, and team. Pedro speakers the Financial today and Executive President are call on Also President Our Pizarro; the Chief Executive Maria Rigatti. members other of Officer, management Chief Vice

supporting presentation. at These Tomorrow, update distribute regular Form are we include and Maria presentation. available from business prepared will remarks Pedro call and today's our Materials www.edisoninvestor.com. XX-Q, the teleconference our

International about nearest During Important subsidiaries. includes and Please reconciliation this presentation different certain The Edison non-GAAP we'll forth outlook call, filings. to materially factors expectations. our these measure. set in as cause its of measures statements results current the outlook GAAP differ forward-looking could could results assumptions Actual are carefully. well the read SEC for make from that as

session, During limit one one follow-up. question to and yourself the question-and-answer please

turn I will over now to Pedro. the call

Pedro Pizarro

everyone. quarter core Sam, thank International's EPS good Edison $X.XX. first afternoon, for was Well, and you, XXXX

start and with $X.XX are the XXXX $X.XX. EPS guidance we affirming in to our We are to of confident core pleased our year,

in on We for confident XXXX to similarly targets for XXXX delivering to remain our through and growth long-term XXXX XXXX. of also X% EPS X%

that continue Our conviction grounded support in the our outlook. remains to drivers

working resolve process California to everywhere. and committed With through impacting or the tax. We after legacy now on, Starting million best on to by cost issue, of resolving recovery. estimate the to losses expeditiously The claims. ultimate $XXX wildfires. with outside a wildfires expand claims advance of SCE's by the Based certainty Maria which latest continues seeking utility achieving are the million $XXX will process information outcomes national the increased cost available, litigation of remain

and like in significant made reiterate warranted about confident SCE our cost case the projections. would we conservatively reflected we make will are the public potential We not for have recovery and that strongly [indiscernible]. is I in that interest, in TKM believe to has and financial the

clean operations for as is are climate mitigation further the the front, conditions, peers its the start who need leader expertise I SCE to underscore conditions. stark nation by response clear a leadership changing to Recent and a to enhancing highlighting across change. resiliency a across want the Edison's industry's wildfire of which provided future. On wildfires reminder climate of the in the is we similar energy transition now adaptation sharing and with experiencing industry, have

including state risk wildfire is aerial in firefighting dramatically that civil utility associated having the our Also, world. increased manageable. shown have fire fleet the for We has infrastructure largest suppression with resources

regulators in healthy Our prudency understand constructive AB put utilities. insurance the standards importance financially and fund. of the XXXX place

five mitigation-related Over past more invested the highest This among next and years, expects the of billion invest years. billion over capital $X the has about utility ranks $X investment in levels five the SCE wildfire than to sector.

On to risk is to of than into effectiveness. can Page from the We all conductor, has for program results. I not future failure see ignitions the risk the numbers losses the it and SCE the for is of covered Putting out point due its recognized together seen X, means XX% that and well wildfires. reducing you will XX% this estimate pre-XXXX. what lower

Page X. to Turning

enhance Let this the key highlight three that me points significance of reduction.

physical because important primary power reduction driver is Unlike behind mitigation. physical is operational This it like means much a burden this for measures risk dominates. settings, shutoffs on First, faster or customers. mitigation reliance lower heavy the

This trusted widely predict Moody's by Second, intricate SCE's wildfire terrain, historical estimate model, RMS probabilities. industry-leading insurers. vegetation, considers factors, to comes data and model from more

than regulators companies clear a today past In utilities mitigation picture. used dramatically analyze only contrasts risk by model of a sizes runs SCE's and model. considering events. efforts. different a while the SCE's approach that strategy. in our profile This terms, the losses other employ simpler stochastic data-driven dollar Third, is validated mitigation fire rigorous and some paints incorporating externally deterministic potential in This summary, to past estimate the simulations, as probabilities methods XX,XXX of we approach result emissions with

IOUs X over proud communities enhance California To high team of highlight focus miles specifically overhead made, those and be other X,XXX efforts underground for to With safety already SCE's XX% We're the all on the look of SCE physical grid expects more with hardened, miles of fire I'm risk hardening these I By continued miles SCE's and really to grid its of progress safer. than to date. hardening, progress surpassed progress and and X,XXX lines making SCE's Pages X swiftly pleased our XXXX, combined. hardened end distribution significant has forward approaching areas. total to our customers. even

beginning driven we Turning area, by to vehicles, After in X% relatively adoption growth growth industrial and the building new in inflection vehicles, higher SCE In X% trend annual continuing is years flat the an demand, X% growth. that X/X In in of to are XXXX. electrification California, growth project increases zero be load will cars point above in emission years service of into electrification. of XXXX. we of continued seeing sold penetration electric with this and annual XXXX coming were

on installed acceleration, of that chargers chargers. home now the of over throughout As and over of reached state milestone this recently XXX,XXX public XXX,XXX a is top California, EV at another indication

Southern center California presence. has data already significant a

we transportation, increase see also potential from we growth the this demand. substantial more a region's in low to expect while drive electricity sector, electrification So

of As support our affordability to mind. remains grow investment levels top economy-wide electrification,

in over leadership managing the our We California focus. of among average discipline resulting This cost continuous years, system a is have cost IOUs. major demonstrated the rate the lowest

mitigate previously further included the to this For $XX million $XX rebuttal O&M utility an customers. testimony example, as submitted that that million in XXXX application benefit revenue on the highlighted earlier GRC annual savings annual building Well, the O&M of identified we month, for increase. immediate of SCE's savings another

are of to and the to continues XXXX the SCE year start our a pleased safer is year very the make and much significant execution investments with after we make year. business, across year. grid

resolution also SCE progress see of is to full wildfires. toward continue constructive making legacy decisions. regulatory the We

allows us to ability our this to and achieve our commitments. long-term of remain in confident All near

conclude SCE will of energy reemphasizing in that California's adaptation. five hardening wildfire at clean is and investors, the and the an grid its customers forefront is running. benefit mitigation transition. investment participate decarbonization results International by day to the seasons electrification, positive offers California excellent of climate Edison wildfire shown vehicle I every for and execution has to

on position an As electric-only, utility, focus to the which will be wires-focused in a led. strong future is SCE electric

is energy has and is recognized further only to growth. transition of more in the investments the the innovation climate clean resilient impacts the well ready paramount become elevated clean Ensuring and Our greatest commitment to and industry driving reliable, our energy prominent. and been theme the leadership as achieving and of change

over report. that, turn financial With to for her it Maria I'll

Maria Rigatti

Thanks, Pedro, proceedings first good confidence EPS and discuss our guidance. comments provide I also today, XXXX in cover targets. reaffirm In update to my afternoon, on want I EPS everyone. regulatory our will results, and growth quarter an XXXX achieving continued

of EIX quarter reported with begin $X.XX. EPS first me results. core Let

debt track of primarily the you Page by year-over-year core variance in due XXXX X grew X, see the revenue As last authorized in authorized on was Parents for GRC from period can and to wildfire associated analysis rates $X.XX, shown CPUC offset payments. returns, by Other the higher quarterly and claims earnings higher higher partially of year. same EIX line with interest with expense

be demand necessary includes future. traditional the support on load driven load plan activities reflects capital traditional plan growth base bulk mitigation. system making facing well will disclosures. customers' investments placement infrastructure quarter's the the of Turning of grid reliability shown to the critical SCE's XXXX These growth, for This is resiliency The placements Pages as by capital meet readiness distribution The fastest XX. electrification. up meet on and continued and to to investments consistent the in and gearing investments Thus, SCE's objectives decades. rate significant infrastructure transportation in resuming GRC. necessary are addressed reliability, as SCE and and includes rate today forecast of such part capital X as with case levels wildfire growth large needs to and electricity in last by

growth first The secure we Page XX. will we of range. key Cal summary, approximately and not on to are we surprised quarter, rate that customers. areas, X% Altogether, are testimony would translate submitted During consistent summarized their good X% In confident outcome by projected GRC recommendations and the base base rate points a is the with focus proceeding. the recommendations our in are Advocates for Turn's X%, interveners growth to and which

SCE over months at our this get earlier CPUC's approval be month, CEMA XX application filed $XXX key and and voted would Further million positive adopted, of the scheduled to approved decision SCE May proceedings, year If revenue and It's big advancing on in that WMCE it the on is regulatory fully PD the received of XXXX cost The decision the be including a XX capital handful XXXX TKM a recently the recovery authorize Earlier its expenditures. the other application. meeting. favorable would proposed to a the this is recovered $XXX XXXX in EPS CEMA, of proceeding. strengthens million front, guidance.

articulated decision the by the deny mechanism. to constructive decision recently cost a views and is that intervenors originally the of the our suspend on would capital the capital proceeding proposed and for the CPUC ALJ with capital modification regulatory when the cost Additionally, reinforces mechanism that consistent and petition adopted environment. cost This was California intent of issued sought topic the of

fewer to required had plaintiffs dropped change Fire information their in to demands the February. on and TKM in to were that the who Woolsey received continues losses update program related an to program. opted that Recall observed mediation of driven litigation intend wildfires, by in provides XX pursue primarily demand The SCE's Woolsey claims the advance. have the into obtained as revealed process. plaintiffs The plaintiffs which legacy more Page estimated considerably in the submit a resolution their by to continue deadline was

intervener testimony of the will increase claims previously now Woolsey on next Settlement claims cost in steps XX. be recovery and you seek individual individual costs, quarter values. application due June estimated I and is May recovery proceeding, also to XX% plaintiff due outcomes XX% SCE so has SCE's Woolsey to of the TKM include eligible the cost resolved TKM file in reflected rebuttal full track In of recovery remind XX during exceeded applications. the that testimony plaintiff all SCE will and the intends QX.

Turning our to EPS guidance. considerations. modeling core XXXX XX and Page shows EPS guidance

year We our are are in to start the range to $X.XX. of confident pleased $X.XX and the with affirming

and for As increased. XXXX estimated events mentioned, losses Pedro the the XXXX

result will As the to SCE EPS of its which structure. financing applications expects guidance. which is excluded expense we in a our debt, XXXX. associated issue incremental SCE's $X.XX with resolve Regardless, reminder, claims about our with SCE cost cost in interest costs achieving capital confidence resolving funds Thus, recovery additional include to from the maintain claims. regulatory debt, in

So will the be this increase in cost recovery application. also reflected

financing deploy substantial On to record. front, to the as needs amounts of dividend extend we underscore equity continue our I track that have and we want limited capital

Page and Parent's As we XX, via we through addressed have plan already forecast shown our internal complete the nearly financing year is about of needs equity maintain on $XXX XXXX million per programs. equity of Also, XXXX. our

the Page right cash all see needs generation XX, our and debt As cash through can you to on nearly growth finance accretive SCE's address flow of side XXXX. the strong incremental

regulation, regulatory efficient through the yet last asset ability We regulatory ability another through prior spending over have is sheet and work significantly billion critical recover balance and financing recovery constructive with approximately expected with $X of which years billion feature execution the to about This XXXX. strengthened track three along oversight. balances our $X execute to of our strong

our of outlook. that our week, stable balance credit affirmed we recognition were ratings strength, last In S&P and pleased sheet

thresholds downgrade Importantly, leadership are risk, XX%. threshold wildfire to recognition across key debt role environment action in climate from and they an business risk industry lowered proud mitigating especially of to risk. Noting We're the this the our driver XX% in our FFO company's credit of decreasing increasing. is the where to S&P's see

much $X sensitivities quantify you recovery expense interest about recovery reduce help Lastly, billion million debt to don't FFO we've benefit year. believe you the billion We by to of XXXX ratio I'll provided our and cost events of XXXX modeling means to will benefits a XX potentially win as Each for a improve only accrue costs, financing and points $XX by for to metrics. owners. basis clear customers would few as our avoiding $X.X remind by that what XX for affordability. overall key These per excess

saying for to regulatory Underpinning leadership and execution long and targets, focus That this term on deliver term in that is and to cost the advance IOUs remarks, by Sam. average cost conclude initiatives, execution. on our of our confidence in remain our California. strong. my Let in and cornerstone me targets Execution among our management financial execution meeting system near our confidence SCE's the proceedings back you, rate major lowest to concludes earnings

Sam Ramraj

Missy, call please questions. the open for

limit request follow-up. As to and you yourself a reminder, one we one to question

line So the to questions. everyone opportunity has ask in

Operator

from Our first Nick question comes with Campanella Barclays.

Nicholas Campanella

quarter wouldn't I estimates. as to start $XXX talk in about your last should that of think exceeding but past of out move as you I an quarter environment charge. confidence we unfavorable good we your maybe to revision higher previous mind? guess how kind just you of kind you kind the kind highlight and third Or of Is the kind it's level another did revision we see million. guess and knock with kind deadline, kind this litigation the we mediation of just get third remaining settlements to progress this that of program Can remaining of that about here deadline? that

Pedro Pizarro

that the and them best middle by we're pointing so change question. providing we our in, estimate, cap. make appreciate this want Look, said doing We research buck back right? test need We've really I'll disclosures, the along our are to there's just estimate go of whether per adjust you the I start right? a down to of to quarter, sure by the that we best road we Nick, all the every

did we said, that you with so pretty milestone, pass a important event. as And Woolsey

the expectation of on commented less And what that now saw awards. have so we the higher analyzing of in and we we benefit factors both in, overall came drop-off and claims

here, having really right, a true and the to moving my continue process And finish you certainly I with our to I the here honestly, will pleased finish quickly the last through it can, I'm filing Nick, certainty we made in this lot as getting TKM, on line. we we're said as as like closer As year. from that think come comments, line doing saw

be we Woolsey, we'll ready do We and milestone are important that track do with be to in approaching QX. to that where to continue our on filing,

best on or equal definition, it has we being So if But continue we'll we're can, again, of test kind means higher things. being quarter, our the giving Every you to process and the lower, reality behind us. it And of we that to getting we'll by right? this an focus retest chance estimate completing quarter. is probably continue that every fully

Maria Rigatti

settled. maybe, have final of been completion, to been individual two underscore numbers individual the said XX% of have today the plaintiffs out component I'll thing one largest plaintiffs of comment the XX% are other Pedro's just settled on already plaintiffs driving the point on we've And certainty. Woolsey what's here. individual and about going TKM Nick, call, that

what's Cost we're track that's Woolsey recovering. that us driving So on QX a filing for comment for really to also

Nicholas Campanella

I only balance impacts, think think still here. it's see then I the sheet million of year of as committed you're kind $XXX equity to that changing. That's about to not and good just a And

of the You remarks, you side what range then net through 'XX? in just ranges on are you or of XX% do just into the the your we of of as the in drivers now? to the as talked FFO kind And stand higher of to kind year prepared where charge, you get got debt to put and this kind kind XX% about lower

Maria Rigatti

Sure.

to actually XX% latest the just S&P I've FFO is has seen debt. that over report think I from

debt in cetera, that We're minimal of their this with for we us different quarter into that over we get years. put earn materials $X a our making moving as financing is quarter the et range on continue to we that's good depreciation, through is three The So still or ability to XX% last again, And above billion provided scenarios, range, have, XX% FFO that also but and that came through over and consistent to next continue progress several base claims objective. the we we plan with tested downward to we behind rational $X $XXX us every year those inside that rate equity how XXXX. the on accounts, growing the really and of that's recover last XXXX. That, through billion million as lot moving up that. years, and to plus more the

Operator

Evercore. comes with question Lonegan next Our from Michael

Michael Lonegan

for Woolsey, about estimate On of losses of that extensions. spoke a the plaintiffs received limited have you best number

that, harder you that about could losses detail into be would wondering because visibility more those estimate. have if obviously, Just you the of kind share to probably

Maria Rigatti

Yes.

So think for, in information times sometimes a couple in know they extensions. receive couple get with and claims, but through in, of the been as put went information put will months. of they as XXX% over sometimes less plaintiffs them, we've sometimes people about some get this their their case, the group we in ask we've the what extensions. claims are past of what number which we We I that things February, deadlines, we've did more to for, when they a the asked deadline process In for their put next in asked we is they than to noted, able

we've Again, as these we through claims, more those have the progress get demands. more information. next to we more so information range quarter. evaluate prior will keep the quarters them to done The of across where And is claims. work that had we've work we've that broad that taken to we've we've experience obviously, done similar we about the applied we And in a other settling that understanding

Michael Lonegan

filing billion NextGen ERP for for of And and capital spoken then X.X programs. the applications stand-alone the about AMI $X-plus incremental secondly for me, you've

when And specific on could plan line rolled we have a to finance you your it? to you file plan? much more -- potentially they could expect when Just how wondering incremental could be equity time these applications you if into if

Maria Rigatti

Sure.

are them, XXXX meter a couple we application and would XXXX. So next-gen of expecting of ERP two Across the in in be late that smart application billion that the the AMI, dollars capital. the

always about capital we'll really accordance those SCE its in obviously, we are requirements, our And -- As we where or we're additional metrics. incremental in to will with see authorized capital structure. financing credit going think for of terms finance

credit minimizing metric strongly for that that as we'll I be incremental our equity stay amount of the As said, be would long as otherwise growing we're range. And we range, in opportunities. into capital those can required

Operator

question comes next Our from Orrill UBS. Greg with

Gregg Orrill

there's to be the in Just otherwise of Cal ISO that wondering if for terms on anything or planning watching CapEx transmission about? process you're thinking trends through

Pedro Pizarro

I'll Maybe have and Yes. Steve that thoughts start well. on might one, as Powell

seen the last that So the long-term the over is in years, you've few really process. engaged planning fully Cal ISO

the think make white goals state significant with for that to order I its work. other by be last paper they recognize our countdown XXXX own need in achieve had the investment state help a XXXX, fall statewide all wires parties a lot of work to net And the it's along in to pretty to zero done. of this

So that Xx to they've what we transmission the of rate historically. [evasions] be will need estimate been

a ISO plans seen the So couple that years. through has there's in that couple the been last you've of cycled Cal now of

as where capital Maria already entitled our to the there's projects an to mentioned for XX work. do I like $X you refusal right it's something or of SCE billion is first of materials, incumbent like the but certainly think in something see

we that So will do that expect SCE work.

that projects. competitive now of your with ISO process. on are more I current But ISO SCE hear on of Cal maybe solicitation pending new comment their application Cal what's are that waiting a has for team, Steve, one process continued in projects since you terms has existing process. not that this engaged extensions to next on addition, know in In planning

Steven Powell

Yes.

its runs annual CAISO each year. planning the process So transmission

build for that there although SCE so And you in was million recent the And 'XX-'XX of of territory. in to cycle, our can plan year incumbent most projects plan projects the to out. California, the released $XX look Northern having for each was are up most that about come

opportunities participate CAISO competitive longer in XX-year of on In future us, for those. each also those if we outlook. evaluate identify So we'll plans additional term, the does will solicitations the a

it over of out pointing CAISO information of out more a came the XX-year outlook. outlook, final the towards by of for They've a the whole recently will needed continues report hub years. give more And you that last ago, process The lot updating that more energy couple XX-year of is the draft about investment in resources transmission a put that transmission. years in the show but was $XX next really but in targets of to June some clean will the backed fulfill billion and to which outlook, need XX the

Operator

Our Tonet next question JPMorgan. comes with from Jeremy

Jeremy Tonet

with, And guess, expectations Just with provide a right all your on just conditions been accomplished seeing an into want across of derisking And you're approaching, buyer has can off overall to summer question. start you over territory I I now? update guess, given the time? broader season the

Pedro Pizarro

you years like I'll real I I the to not ago risk in climate-driven a walk quick going maybe wildfire The with. to change, is, I answer risk for published answer message and below that that want decreased but it not season. average see we up with an to know away average to white conditions, XX% a your the have XXXX. suggest something little with, pointed or stuff we're paper away wildfire through the message want latest climate-driven I bit to tomorrow, even I'll That's are think ahead, question be seen of adapting quickly, seems a walk you increase real climate with follow then in years risk increased, couple the

table table. on prepared risk even in taken off done, that off amount hardening down capabilities. the risk to the XX% include about that real my remarks, XX% firefighting the right? so the doubled is stuff And the doesn't having its I we've of the headline And all the taken talked the here by we've state

look. is, how investors does and to frankly, does given year less or I time, year interesting, any this question. how ask obviously, other should But that I to is So know we look us less the continuing the from hardening there. time our think it's and do And doing we're are more, our I asking more well question And and be measures. and you how think in

Maria Rigatti

with reduction, we're And of [PJ], all even constantly vigilant. risk the

So to grid but more refining technologies. do just at to more just and that hardening underscore models, also point, continuing our not we're looking new

I at some can think you as that is that's report of just aspect see to the what when ongoing look the we every paying of mitigating S&P you are that well attention risk.

Pedro Pizarro

And using S&P new but to technologies at like customers. was impact potential for the about you we said, have it, for right? an that. refine ways risk accounts to important continue Think nice overall minimize recognized of our reduction. That So that to only look And since been now it PSPS. has something Maria, and XX% tool, to it

it's industry it's -- The because role other is of and we're learnings the this California longer the national longer a sharing a no a with Powell rest Steve -- is thing It's I'd we're our issue. is issue. that making share problem no leading level playing not in this, western sure a

through find through EEI, on a to level that as in as things at AB share year, sharing to industry able have that's states June co-chairing practices the to well we federal is EEI, California liability across the protections or XXXX. a Steve a achieve whether through like could proud way EEI, we have discussion other so And were I'm we're CEO taskforce best which of but is helping this the that

not sure seriously, here we're leaderships sharing about our take that we industry. the making just it's customers, with the that protecting of rest So but

Jeremy Tonet

that. hits of question, kind maybe second my That just it. continue Got but with to

to movement policymakers you level, And nationwide see you point? in actually something a in could today how get here? comprehensive but be that divisive given moving at that are that approach Just actually could direction we On think some motion the wondering D.C.? national do develop politics if

Pedro Pizarro

Yes.

it So a right? engaged Capital of days, number it's Hill through is Look, these we're budget past to on of get challenging visits. a environment hill. EEI, really hard in kind a you're So national right, capital that,

risk increasing red, challenge multiple that other this the to risks that level a up. that issue across Steve, Act, operating And On not think states, managing as and the in example. but been in point -- well. here is It's a number blue economy single everything I national there's where hand, Anything the solution the is they're for engaged will still fact state there's as Think I there alright? examples And between, you'd I there other know an national solution. a that of Hill and capital Price-Anderson about framing so a needs nuclear a you've anymore. discussions is recognition these add?

Steven Powell

risk I'd just about the now, physical and manage right mitigations the to evolving itself. focused say industry we've taking is really how the risk been on the education that is

you can what's at terms different In for the financial that efforts there's in combine think it approaching ways. We'll done level potentially the at being that federal look of risk, I ways with the know -- complementary I state different states level. are

And in do like streamline areas. able utilities and their effectively get there's things is permitting to around to things Some in the there's tactical being of timber. work high-fire done to know the process that I allowing interesting the Hill things on of lots remove

think to In with likely take to I solution, it's terms but of the lot that's more some some most potential level. federal shape the and time, to there's the be it is be of of state solutions at combination again, a ask work what done of just financial even will

Jeremy Tonet

to deadline for plaintiff there. with quick clarification, could, And if extensions the regards I point a of just the

coming there have in date it the in should [indiscernible], might any looking I for is think said specific there? months time be that we

Maria Rigatti

the of next couple all are but deadlines we'll you the months, now, posted. Right over keep

Operator

Citi. with comes Levine Ryan from question next Our

Ryan Levine

it costs could you into Is read ticked points costs? share up color anything interested Maybe this driving year-over-year some the inspection around in your maintenance Or like that? terms of escalation any higher being numbers your of and your structure, to looks O&M what's in cost footnotes the quarter. there on

Maria Rigatti

Yes.

lot cost. with quarter, when exactly has to in you're booking a each So that sometimes of the do

in weather do year-over-year. where just driven some worse less years So do and year, to is in differences it another you're is you work weather can of work. not, That then than timing by can be going there more

our I So not structure changing is think per cost se.

our In how actually cost all to processes streamline on those is of focus over fact, reduce time. and the

to nothing in to that. So read

Ryan Levine

nationwide And plans more wildfire the country? this for maybe can mitigation as that iterations the in any phenomenon? that initiative more of implementation cost to utilities streamline becomes you the becomes broadly national opportunities there a anticipate of then Are it the of more around terms or to extent

Pedro Pizarro

I So say maybe continues do we our do is, a improve, to we this how think technologies, refine, team us couple you heard of use new constantly that. how earlier, angles cetera. and One Ryan, et look on for

part from that your scale place you lead of you my more bit of mass question tell streamlining a have the me comes little a that extent make and got technologies those across is I this multiple on up maybe to end thing conceptually, theory, the it states, some costs. think being you're in a I'll deployed To So of about. maybe thinking up kind of if --

turning of then risk, view reducing the and But we and have an the team very that constantly that there capital is underlying you reprioritizing adoption, think risk. refining that our from I driving view description of the the crank, and make risk scale. of towards commitments refining greater the you're models, If focused greater further on the O&M SCE prioritizing perspective,

anything else? Steve,

Steven Powell

risk decisions through about as on of sure risk, the any the make and focus it the affordability wildfire maybe the the path And for experience as we utility making down going we been Ryan. around deploy. Yes, both mitigating we're mitigations we've the starts I have you right balancing think

very conductor example, our for risk may address different for is the a look face. covered that grid way different we hardening cost-effective It on us to for So us, side, for utilities.

get combining inspection, we've around into fewer inspections. As inspection, you out and the to things our like go do things to done times aerial ground we're having to the so our

for are begin use and have There's example, the we and those, help you opportunities. may they're we bring certainly, cost improve, tools down more developing go able that us those those management to areas as that veg to The to more do around, may people more ones you how and inspections. do as if broader are

industry whether LiDAR us the or will whole cost. detection, with faster and to those, the those using satellite, allow on advance lower the it's focused So

definitely mitigation, of bring wildfire learn down. of So and deploy most the we the learn now us as we cost will others from to them from but effective all try

Pedro Pizarro

the recording is Maybe, on but final I we it's that the would I Steve, just this. thought technology -- subsector CEO-led physical the And matters the group not with is and also really partners, it's and add Council, one security industry industry between are about and along role in might doing government's government co-chaired the we what the cyber you know partnership electricity and resiliency. federal of the and which about

a sector, do how for agency technologies, about DOE so resources. sponsoring we around to been partner think our we they've is and how do engaging our And access federal in good really get

the the where Bureau A more benefits more lot of of but and work scale has particularly vegetation we and in partner how to areas of looking great be forest been or working at like to made sort we need in service in DOE states these to done it. say, a management, that all work bring land with there's progress be

we'll it makes so everybody safer. partnership And continue that and

Operator

the I'll to our call was Ramraj. question. back last turn Mr. now That Sam

Sam Ramraj

call. Thank you good concludes This rest the joining day. us. the a Have of for conference

may You disconnect. now

Edison International (EIX) 30 Apr 242024 Q1 Earnings call transcript