Eaton

The chief executive of Southern California Edison’s parent company said on Tuesday that the company was likely to suffer “material losses” related to the deadly Eaton fire, which ignited on Jan. 7 and burned more than 14,000 acres.

How will it handle the financial fallout of the Eaton fire remains an open question.

“Absent additional evidence” and “in light of pending litigation, it is probable that Edison International and Southern California Edison will incur material losses in connection with the Eaton fire,” Pizarro said.

The Eaton fire killed 18 people and destroyed thousands of homes and other structures.

If Edison has to cover the damages caused by the Eaton fire, the utility will be partially protected by an emergency fund that state lawmakers created in 2019 in the wake of earlier wildfires.