Edison International, a prominent energy company, is currently under investigation due to a potential link to one of the wildfires raging through Los Angeles.
The $25 billion corporation reported the discovery of a downed electrical conductor near the area where the Hurst Fire ignited on Tuesday evening, following a fierce Santa Ana windstorm.
However, the company has yet to confirm whether the damage occurred before or after the fire started, which has now scorched nearly 800 acres of land.
Edison’s Findings and Financial Impact
The conductor was found near the Eagle Rock Sylmar 220 kV circuit, according to Edison’s press release.
While the findings are still preliminary, the situation has already impacted the company’s market cap, which dropped by a significant $5.73 billion, falling from $30.89 billion on January 3 to $25.16 billion by today.
The broader energy, utility, and insurance sectors have also faced turmoil, with Edison’s stock price plummeting 10 percent on Wednesday and another 6.5 percent on Friday.
Speculation About the Causes of the Fires
As the worst cluster of wildfires in U.S. history continues to wreak havoc, questions about their cause have become central.
Los Angeles residents affected by the fires are demanding answers.
Spikes in electrical faults were detected earlier this week, raising concerns about their potential role in the ignition of the fires.
Bob Marshall, CEO of Whisker Labs, shared with Fox News that his company registered faults in the hours leading up to the outbreaks.
The data suggested that power wasn’t immediately shut off after the surges, which might have been caused by tree limbs touching power lines or wires blowing in the wind.
These issues can cause sparks that potentially ignite nearby vegetation.
Marshall noted that typical days show very few faults, but on the day of the fires, grid faults were alarmingly high—especially in the Pacific Palisades area, where 63 faults were recorded in the two-to-three hours before the fire started.
The Eaton Fire near Altadena experienced 317 faults, while the Hurst Fire had around 230.
Investigators are considering whether these sparks, combined with dry conditions and strong winds, contributed to the rapid spread of the flames.
The Devastating Impact of the Fires
The Hurst Fire, potentially linked to Edison’s equipment, continues to devastate San Fernando in Los Angeles County.
As of Sunday afternoon, the fire was 89 percent contained. However, two other fires, Eaton and Palisades, are still much larger.
By 2 pm Sunday, the Eaton Fire had ravaged over 14,000 acres north of Pasadena and was only 27 percent contained.
The Palisades Fire, which had consumed nearly 24,000 acres, was only 11 percent contained.
The toll of these fires has been staggering, with at least 16 people confirmed dead and around 29,000 acres of land destroyed.
Over 12,300 structures have been lost, and the total economic damage is estimated at $57 billion.
The wildfires have forced 180,000 people to evacuate their homes.
Harsh Weather Conditions and Ongoing Threats
Fierce Santa Ana winds have intensified the fires, turning them into uncontrollable infernos.
With no significant rainfall in the region for over eight months, these winds have been blamed for rapidly spreading the flames.
The National Weather Service issued red flag warnings for severe fire conditions continuing through Wednesday, with gusts expected to reach up to 70 mph in the mountains.
Meteorologist Rich Thompson warned that Tuesday would be the most dangerous day, with dry conditions and strong winds fueling the fires.
Los Angeles County Fire Chief Anthony C. Marrone assured the public that additional water trucks had been dispatched to help contain the flames.
Meanwhile, the authorities have created an online database for evacuated residents to check if their properties have been damaged or destroyed.
Evacuations and Safety Concerns
As of Sunday, around 150,000 people in Los Angeles County were still under evacuation orders.
Over 700 residents have taken refuge in nine shelters, according to local officials.
LA City Fire Chief Kristin Crowley urged the public to stay away from burned-out neighborhoods, which remain perilous due to ongoing fires, broken gas lines, and unstable structures.
With hazardous materials like lead, arsenic, and asbestos in the ash, safety remains a top concern.
Authorities are working tirelessly to secure the area before allowing residents to return to their homes.
As the fires continue to burn, more than 62 square miles of land have been destroyed, a size larger than San Francisco, adding to the overwhelming devastation caused by the ongoing wildfires.
This article was published on TDPel Media. Thanks for reading!
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