Edison CEO Says Tariffs Risk Raising Electric Rates

(Bloomberg) -- Edison International’s top executive said Trump administration tariffs risk raising costs for the California utility giant as it rebuilds parts of its system after the Los Angeles-area wildfires. 

The company, which owns a utility that supplies electricity to much of Southern California, estimates tariffs on imported materials may add as much as several percentage points to rates, Chief Executive Officer Pedro Pizarro said during an interview with Bloomberg Television. 

“It could be a significant impact,” Pizarro said Friday. 

President Donald Trump has called for 25% tariffs on imports of steel and aluminum and is looking at levies for copper as part of his administration’s sweeping efforts to remake US trade policy and spur more domestic manufacturing and jobs. The moves have whipsawed markets and sparked concerns about further strains on the US economy. 

Edison is investigating the possibility that its utility equipment could have started January’s Eaton Fire, which destroyed more than 9,000 structures and killed 17 people. No cause of the blaze has been determined. The utility is considering burying more power lines in places impacted by the Los Angeles-area fires, Pizarro said. 

Edison shares rose 2.4% to $56.40 on Friday.

(Updates with share price in last paragraph.)

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