The fine came after a multiyear investigation into a Jan. 14, 2011, downed electric transmission line that started a small fire in San Bernardino County and resulted in the electrocution of three family members.
A second incident involved strong winds that uprooted trees and knocked down lines, causing major power outages in the San Gabriel Valley on Nov. 30 and Dec. 1.
Edison will pay $15 million to the state treasury and the rest of the $24.5 million will be spent on public-safety activities, the PUC said.
The utility must also file periodic reports to the commission about its ongoing safety work.
Edison in a statement said that the uncontested settlement with the PUC "is in the public interest and allows it to move forward with the utility's principal mission of providing safe, reliable and affordable electric service.