Power company says it will pay damages for January Los Angeles fires

The power company whose transmission lines are suspected of sparking one of the deadly fires that ravaged Los Angeles this year said Wednesday it would compensate victims even before there is a formal finding that it was at fault.

Southern California Edison (SCE), which faces multiple costly lawsuits over the blazes, said it would set up a fund to provide compensation to those who lost their homes or had their health affected.

The company has not given precise figures or timelines on the size of the fund, but with such a mechanism it could avoid some of the legal battles it is likely to face.

Still under investigation are the causes of the fire that ravaged the affluent Pacific Palisades neighborhood and parts of Malibu, as well as the city of Altadena, a more modest suburb nestled in the mountains.

For months, SCE power line has been pointed to as the cause of the Eaton fire that consumed Altadena.

Several videos and testimony suggest that the equipment produced sparks that could have caused the flames which spread rapidly.

Victims "should not have to wait for the final conclusions of the Eaton fire investigation to get the financial support they need to start rebuilding," said Pedro Pizarro, president and CEO of Edison International, SCE's parent company.

"While the details of how the Eaton fire started are still being evaluated, SCE will offer an accelerated process to pay and resolve claims fairly and quickly."

"This allows the community to focus more on recovery than on lengthy and costly litigation," he added.

It will also pay for personal damages and offer compensation to the families of those killed in the fire.