Company: SCE-PL
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001193125-25-283973
Chunk: 50

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-17
Form: 424B3
Chunk 50
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 moneys, or proceeds of or arising from the fixed recovery charges 
 that are the subject of a financing order described in the bullet point immediately above.                     |

The Wildfire Financing Law provides that recovery property that is specified in a financing order shall constitute an existing, present property right, notwithstanding the fact that the imposition and collection of fixed recovery charges depend on the electrical corporation continuing to provide electricity service or continuing to perform its servicing functions relating to the collection of fixed recovery charges or on the level of future electricity consumption. Recovery property shall exist whether or not the fixed recovery charges have been billed, have accrued, or have been collected and notwithstanding the fact that the value for a security interest in the recovery property, or amount of the recovery property, is dependent on the future provision of service to customers. All recovery property specified in a financing order shall continue to exist until the recovery bonds issued pursuant to a financing order and all associated financing costs are paid in full. A Financing Order is Irrevocable, Commission Shall Not Impair Recovery Property The Wildfire Financing Law provides that the financing order is irrevocable. In addition to the State Pledge discussed below, under the Wildfire Financing Law, the California commission may not, either by rescinding, altering, or amending the financing order or otherwise, revalue or revise for ratemaking purposes the recovery costs or the costs of recovering, financing, or refinancing the recovery costs, in any way reduce or impair the value of recovery property either directly, or indirectly by taking fixed recovery charges into account when setting other rates for the electrical corporation. Moreover, the amount of revenues generated by the fixed recovery charges shall not be subject to reduction, impairment, postponement, or termination. Fixed Recovery Charges May Be Adjusted The Wildfire Financing Law requires the California commission to provide in any financing order a procedure for periodic true-upadjustments to fixed recovery charges, which shall be made at least annually and may be made more frequently. The electrical corporation shall submit an advice letter with the commission to implement any true-upadjustment. Please read “ SCE’s Financing Order—Fixed Recovery Charges—The Financing Order Requires the Servicer to Periodically “True-Up”the Fixed Recovery Charge” and “ The Servicing Agreement— True-UpAdjustment Letters” in this prospectus. The Wildfire Financing Law and the financing order do not impose a cap on the fixed recovery charge. The Wildfire Financing Law Provides for the Creation of Consensual and Statutory Liens on Recovery Property The Wildfire Financing Law provides