Why did Edison CEO Pedro Pizarro call Tom Steyer's anti-utility message 'unfortunate'?

Pedro Pizarro called Tom Steyer's anti-utility message 'unfortunate' because Steyer, as a California gubernatorial candidate, promoted breaking up utility monopolies to lower rates—a stance Pizarro characterized as 'decoupled from fact.' Specifically, Pizarro rejected Steyer's claim that dismantling utilities like Southern California Edison would magically achieve a 25% rate reduction, stating it 'has no basis whatsoever.' He emphasized the need for factual grounding, noting he knows Steyer personally from UN climate events and would seek dialogue if Steyer were elected.

What is Tom Steyer's central policy proposal regarding California utilities, and how does Edison International respond to it?

Tom Steyer's central policy proposal is to break up utility monopolies—including Edison's Southern California Edison—to introduce competition and lower customer bills, tapping into public frustration over sharply rising rates. Edison International CEO Pedro Pizarro firmly rejects this idea, calling it 'decoupled from fact' and asserting that the notion of achieving a 25% rate reduction through monopoly breakup 'has no basis whatsoever.' He stressed that if Steyer were elected, Edison would engage with him to ensure his policies are grounded in reality.

Edison CEO Calls Tom Steyer’s Anti-Utility Message ‘Unfortunate’

Jun 3, 2026

Edison International CEO Pedro Pizarro rejected California candidate Tom Steyer's plan to break up utility monopolies, disputing claims that it would cut rates by 25%. He stated such measures lack factual basis during a Bloomberg interview.

bloomberg

2026-06-03

Edison CEO Calls Tom Steyer’s Anti-Utility Message ‘Unfortunate’

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