Company: SCE-PL
Filing Date: 2025-09-08
Form Type: SF-1
Source: 0001193125-25-198426
Chunk: 25

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-09-08
Form: SF-1
Chunk 25
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, infrastructure, and data from attacks, intrusions or other catastrophic events that could result in their failure or reduced functionality. There is no guarantee that
SCE’s security program, including prevention, detection, mitigation, and remediation of risks, will prevent all future cyber and physical security incidents that could materially impact its operations or financial condition.

If SCE’s information technology and operational technology systems’ security measures were to be breached, or a critical system
failure were to occur without timely recovery, SCE could be unable to fulfill critical business functions, such as delivery of electricity to customers and the ability to meter and bill customers all of which could materially affect SCE’s
ability to bill and collect fixed recovery charges or otherwise service the recovery property.

It may be difficult to collect fixed recovery charges from other parties who bill retail customers

Under California’s “direct access”
program, SCE faces competition in certain areas of its retail business from ESPs. Currently the direct access program is limited to 13,456.87 gigawatt hours of annual sales for SCE’s service area. However, as has been done previously in 2009
and 2018, the Legislature or the California commission could expand the direct access program at any time. Please read “The Depositor, Seller, Initial Servicer and Sponsor—Community Choice Aggregation, Direct Access and Departing Load” in this prospectus. In respect of customers taking service from an ESP, SCE remains the transmission and distribution provider. The Wildfire Financing Law provides that the fixed recovery charges must be paid by all existing and
future customers within SCE’s service territory as it existed as of the date of the financing order. The financing order

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provides that customers with departing load must pay the fixed recovery charges on the departing load. Nevertheless, ESPs that elect to do their own billing will be responsible for billing the
fixed recovery charges and any delay in the remittance of such fixed recovery charges may reduce the fixed recovery charge collections available to make payments on the bonds.

It might be difficult for successor servicers to collect the fixed recovery charges from SCE’s customers

Any successor servicer may bring an action against a customer for non-payment of the fixed recovery
charge, but only a successor servicer that is a successor electrical corporation may terminate service for failure to pay the fixed recovery charges. A successor servicer that does not have the threat of termination of service available to enforce
payment of the fixed recovery charge would need to rely on the successor electrical corporation to threaten to terminate service for