Edison president discusses Eaton Fire, compensation program for victims

Nearly a year after the Eaton Fire ripped through Altadena, destroying thousands of buildings and homes and killing at least 19 people, the Edison International president is addressing the devastating blaze and the company's work to help victims. 

Pedro Pizzaro, President and CEO of Edison, the parent company of Southern California Edison, says that despite there being no official cause of the destructive inferno, the company has started to pay out to victims through a compensation program. 

"We are taking accountability," Pizzaro said. "We've set up a claims program that already sent the first check out."

This comes after months of speculation that SoCal Edison equipment sparked the fire, shown in a dramatic video captured by Altadena resident Jeffrey Ku on Jan. 7. 

"It's not an admission, we're clear, it's not an admission of fault, but it is taking the steps that are needed, and frankly, it's the right thing to do for the community," Pizzaro said. 

Those who accept the settlements from Edison, though, lose their right to sue the utility. 

"To get that money, you have to sign a legal waiver that waives all future legal rights," said an Eaton Fire victim while speaking with CBS Los Angeles on Tuesday morning. "That includes future health claims."

They say that the more victims who accept Edison's offer, the less amount of potentially pricey lawsuits the company could face. 

"We got over a thousand inputs. We made over 50 changes to the program based on community inputs. We launched a program in record time, mindful of the fact that people need to get on with recovery and rebuilding," Pizzaro said. "We now have over 1500 claims that have been submitted by members of this community, who are checking out our program. As I said earlier, we've sent out the first check already."

Joy Chen, one of the leaders of the Eaton Survivors Network, says that Edison's compensation formula is not offering full pre-fire market value for lost properties, and that they aren't giving tenants enough to cover rent, given the loss of affordable housing in the area. 

"At this point, people have drained their retirement accounts, maxed out their credit cards, gone into crushing debt and are struggling to put a roof over their heads," Chen said. 

Pizarro said that Edison hears differently from other Eaton Fire survivors. 

"We engaged the experts who designed the 9/11 Fund. What we've done is size the program that are similar to what we've seen in settlements in other fires," he said. 

SoCal Edison currently faces a number of lawsuits for the Eaton Fire, including those initiated by Los Angeles County and the U.S. Department of Justice.