Energy giant worth $25,000,000,000 under investigation in connection with LA wildfires

An energy company worth billions is under investigation linked to the catastrophic LA fires.

Tragedy has struck the United States, and as the Los Angeles wildfires continue to rage, the devastation is only getting worse. Major celebrities including Paris Hilton, Ben Affleck, and Sir Anthony Hopkins have all had their homes affected, while there have been at least 24 deaths and widespread destruction.

The worst affected area is the Palisades, with more than 23,000 acres being scorched and the fire being only 11% contained as of January 12.

A curfew is in place to prevent looting, although the Los Angeles Police Department has been escorting some residents back to their homes to collect pets and vital items like medication.

While pinning down the cause is difficult, high winds and a tinder box of vegetation are only helping the fire spread, with no end in sight.

The devastating fires have affected thousands of homes across Los Angeles (DAVID SWANSON / Contributor / Getty)

Even though investigators are already looking into potential causes, it's likely to take months until these findings are concluded.

In the meantime, theories are running rife, with some claiming a directed-energy weapon is what started the blaze.

Now, there are reports that energy company Southern California Edison is under investigation after admitting one of its grids experienced a short circuit on January 7.

Southern California Edison is a subsidiary of Edison International and has posted a report confirming the incident. The parent company is worth a whopping $25 billion, making it a juggernaut of the energy industry.

The energy giant says it "does not know whether the damage observed occurred before or after the start of the fire."

Southern California Edison admitted, "Fire agencies are investigating whether SCE equipment was involved in the ignition of" the fire, adding that the investigation was ongoing.

The release explains, "Preliminary information reflects the Eagle Rock - Sylmar 220 kV circuit experienced a relay at 10:11 p.m. A downed conductor was discovered at a tower associated with the Eagle Rock - Sylmar 220 kV circuit."

Utility companies have to report when an investigation is launched into serious incidents like a potential wildfire.

Investigations into possible causes for the wildfires are already underway (Apu Gomes / Stringer / Getty)

Los Angeles Fire Department's Capt. Adam Vangerpen said that a 'unified investigation' is underway with multiple fire and law enforcement agencies.

In the meantime, Edison International has said it will offer relief to community-based organizations in the form of a $1 million donation. This includes $150,000 to the American Red Cross and $100,000 each to the Los Angeles Regional Food Bank, Pasadena Humane, and YMCA of Metropolitan Los Angeles. It's also giving $100,000 to America's Charities in hopes of assisting its employees who have been impacted by fires.

Southern California Edison has restored power to around 500,000 customers, although 62,662 are thought to be without power as of January 12.

As for the rising death toll, the Los Angeles coroner has attributed eight to the Palisades fire and 16 to the raging Eaton fire.

Fires are said to have affected 12,000 structures, and with estimates ranging from anywhere between $50 billion to $150 billion, it's thought to be the most costly fires in American history.