The utility expects the fund's payments to be reimbursed by California's public wildfire insurance program, which Gov. Gavin Newsom is reportedly looking to expand.

We recently compiled a list of 10 Cheap Utility Stocks to Buy According to Hedge Funds. Edison International stands third on our list among cheap utility stocks. Edison International (NYSE:EIX), through its utility arm Southern California Edison (SCE),

Supporters say victims could get paid more quickly through Edison's plan, but lawyers say they might get shortchanged

After transmission lines from Southern California Edison were blamed for igniting the deadly Eaton and Palisades fires, the utility company said it will compensate those impacted by the Eaton Fire in Altadena.

Edison International (NYSE:EIX) is among the 13 Best Electrical Infrastructure Stocks to Invest In. A Wildfire Recovery Compensation Program for Eaton Fire victims will be launched by Edison International (NYSE:EIX)’s company,

The Eaton Fire’s cause is still under investigation, but Southern California Edison is planning to launch a fund to compensate those affected. Survivors say the utility is trying to “buy us off.”

Some Eaton Fire victims say they feel the program is disingenuous and would mean victims miss out from a potentially larger payout from lawsuits.