Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 28

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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 Impact of Derivative InstrumentsSCE recognizes realized gains and losses on derivative instruments as purchased power expense and unrealized gains and losses as regulatory assets or liabilities. Both realized and unrealized gains and losses are expected to be refunded to or 

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recovered from customers and therefore do not affect earnings. Cash flows from derivative activities, including cash collateral, are reported in cash flows from operating activities in SCE's condensed consolidated statements of cash flows.The following table summarizes the gains/(losses) of SCE's economic hedging activity:Three months ended September 30,Nine months ended September 30,(in millions)2025202420252024Realized$(37)$(187)$(81)$(313)Unrealized(122)(19)(111)(56)Notional Volumes of Derivative InstrumentsThe following table summarizes the notional volumes of derivatives used for SCE's economic hedging activities:CommodityUnit ofMeasureEconomic HedgesSeptember 30, 2025December 31, 2024Electricity options, swaps and forwardsGigawatt hours5,6793,295Natural gas options, swaps and forwardsBillion cubic feet84Congestion revenue rightsGigawatt hours4,9738,141Fin Toll arrangementsGigawatt hours236—

Note 7.  Revenue

The following table is a summary of SCE's revenue:Three months endedSeptember 30,Nine months endedSeptember 30,(in millions)2025202420252024Revenue from contracts with customers1 Commercial$2,558 $2,731 $5,980 $6,132  Residential2,478 2,845 5,563 5,770  Other807 987 2,222 2,532 Total revenue from contracts with customer25,843 6,563 13,765 14,434 Alternative revenue program and other3(103)(1,375)309 (858)Total operating revenue$5,740 $5,188 $14,074 $13,576 1The revenue requirement in the 2025 GRC final decision are retroactive to January 1, 2025. SCE recorded the impact of the 2025 GRC decision in the third quarter of 2025, including $418 million related to the six-month period ended June 30, 2025. 2At September 30, 2025 and December 31, 2024