The California Public Utilities Commission (CPUC) is evaluating a proposal to ban energy-inefficient television sets in the state. The proposal intends to lower electricity demand, and if implemented would be a first in the country. This would stipulate televisions sold in California to be more energy efficient from the inception of fiscal 2011. The standards would apply to all television sets up to 58 inches. For example, all new 42-inch television sets have to use less than 183 watts by fiscal 2011 and less than 116 watts by fiscal 2013. That's considerably more efficient than current models in the market. A 42-inch Hitachi plasma TV sold in 2007 uses 313 watts while a 42-inch Sharp Liquid-crystal display, or LCD, TV draws 232 watts, according to Energy Commission research. However, as of now only one-quarter of the television sets on the market meet the required standard. Television sets ...

Edison International's (EIX) adjusted EPS of $1.09 in the third quarter of fiscal 2009 pushed past the Zacks Consensus Estimate of $1.05 by 4 cents. However, adjusted EPS for the quarter fell short of the year-ago $1.46 EPS.

On a GAAP basis, the company reported quarterly EPS of $1.23, compared to $1.33 in the year-ago quarter. The discrepancy between GAAP and adjusted EPS were due to non-cash accounting benefit from the final regulatory approval to transfer its Mountainview power plant to utility rate base.

Edison's revenue fell 14.7% year-over-year to $3.7 billion from $4.3 billion. The downside was more prominent in electric utility revenue (83.7% of total revenues), which decreased 11.6% year-over-year. Competitive power generation revenues fell 27.2% to $592 million. Financial services and other revenues were only $7 million in the reported quarter from $14 million in the year-ago quarter.

Southern California Edison's (SCE) GAAP EPS in the reported quarter

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Southern California Edison, a subsidiary of Edison International (EIX), and First Solar (FSLR) have joined forces in developing two solar power facilities in Southern California, having a combined generating capacity of 550 megawatts (MW) of clean energy. Requisite approvals are pending at the California Public Utilities Commission. First Solar will be responsible for engineering, procurement and construction (EPC) of these two projects – a 250MW Desert Sunlight plant near Desert Center and another 300 MW Stateline plant at San Bernardino. Southern California Edison will be in charge of electricity distribution once the project is over. Construction work for Desert Sunlight is planned to start in 2012 and for Stateline in 2013. Both the projects are likely to be completed by 2015. First Solar will deploy its advanced thin-film photovoltaic solar modules within the plants.   These plants will generate around 1.2 billion kilowatt-hours (kWh) of ...

Edison International (EIX) announced fourth-quarter earnings per share of 66 cents earlier today, which inched past both the analyst consensus and year-ago result of 65 cents each.

Revenue advanced to $3.23 billion from $3.14 billion a year earlier.

For the full year, core earnings advanced 4% to $3.84 from $3.69. Revenue moved higher to $14.1 billion from $12.9 billion.

EIX did not release an earnings guidance for 2009, but plans to do so after Southern California Edison Company receives a decision from the California Public Utilities Commission.

Shares of the company are down by almost 6% on Monday afternoon.

EIX, through its subsidiaries, is a generator and distributor of electric power, and an investor in infrastructure and energy assets, including renewable energy.

"EIX" Free Stock Analysis: Buy? Sell? Hold?Zacks Investment Research

California-based XsunX Inc. (XSNX.OB) is a thin-film photovoltaic company. The company has focused on the development of thin-film amorphous technologies and products due to the inherent advantages of amorphous silicon over other solar absorbers.

XsunX stated that the passage of solar ITC legislation by the U.S. Senate earlier this week was significant. The company also said that the adoption earlier this month of the California Public Utilities Commission call for energy efficient homes by 2020 is an important regulatory action.

XsunX CEO Tom Djokovich noted that the extension of the solar tax credit is a huge bonanza to the solar industry’s future. He stated, “With this legislation by the Senate, that extends the solar investment tax credit by eight years, coupled with actions such as that in California, as well as numerous western states, XsunX is particularly well positioned for growth.” XsunX is currently progressing with the buildout of its first 25MW

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We maintain a market-neutral Hold recommendation on PG&E Corporation (PCG) common stock with a six-month target price of $41.25. Price appreciation to our near-term valuation target, coupled with a quarterly cash dividend of $0.39 per share, which we deem secure and sustainable, given reasonable projected payouts and the accretive effect of share repurchases, represents annualized total return potential of 12.9%.

Going forward, positive investment factors, including favorable decisions from California Public Utilities Commission (CPUC) and Federal Energy Regulatory Commission (FERC) including a CPUC authorized 11.35% return-on-equity (ROE) until 2010, long-term supply agreements, diversification into alternative power sources and infrastructure improvement programs such as the Cornerstone, Smart Meter and Tesla generating stations, will be partially offset by risks including rising natural gas prices, increased purchased power cost, higher pension costs, settlement of regulatory assets and an over-leveraged balance sheet.

The company has $13 billion of planned capital expenditures in the pipeline

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