North America Power & Utilities: The Week Ahead

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North America Power & Utilities: The Week Ahead

Barclays | North America Power & Utilities

All PA exposed utilities are understandably under pressure given this dynamic, but we would

recommend buying PPL and FE (both OW rated) on weakness (limited GRC risk next 12 months)

while remaining Underweight AWK / WTRG given 3 pro-forma rate cases exposed, plus a merger

proceeding.

See here for our report where we sensitize impacts to Pennsylvania utilities following the

Governor's April 29th letter where he stressed lower returns for utilities.

EIX: Offers Nearly $700mm in Wildfire Recovery Compensation Program

Southern California Edison (SCE) announced that it has offered nearly $700 million in relief to

customers impacted by the Eaton Fire through its Wildfire Recovery Compensation Program,

with more than 2,000 offers extended to over 4,900 claimants and more than 1,700 claimants

paid over $250 million to date. The program has received more than 3,800 claims covering

roughly 11,100 individuals and entities, and it aims to provide faster compensation than

litigation, with average offer delivery in about 35 days and payments typically made within 30

days of settlement completion. Most offers have been accepted, with a high acceptance rate

and limited disputes or rejections, indicating strong participation and program effectiveness.

The company highlighted continued progress in advancing community recovery, including

ongoing claim processing, payments, and outreach efforts such as a community meeting to

support rebuilding. Participant feedback has been largely positive, with a majority reporting

favorable views of the program, as SCE continues to expand compensation efforts across

varying claim types and loss levels while working to accelerate recovery for affected households