California's $21 billion wildfire fund may shield Edison International's balance sheet if equipment owned by the company's electric utility is found to have caused a deadly Los Angeles fire last month,

California's $21B wildfire fund may shield Edison International's balance sheet if the company's equipment is found to have caused the deadly Eaton fire, CEO Pedro Pizarro said.

Edison International rose the most in more than a month after executives told investors that it thinks it acted prudently around the Los Angeles wildfires and that a state insurance fund would protect its finances.