Company: SCE-PL
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001193125-25-283973
Chunk: 61

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-17
Form: 424B3
Chunk 61
---
 of the periodic payment requirement.

In addition, the financing order requires the servicer
to implement quarterly true-up adjustments 12 months prior to the last scheduled final payment date of the last maturing tranche of the bonds. Mandatory annual true-up
adjustments, semi-annual true-up adjustments, interim true-up adjustments and mandatory quarterly true-up adjustments as
described above are referred to as routine true-upadjustments. Each such routine true-up adjustment shall utilize the methodology described above under the
heading “—The Financing Order Establishes the Methodology used to Calculate the Fixed Recovery Charges” to determine the fixed recovery charges requested on the next adjustment date.

Routine annual true-up adjustment advice letters, semi-annual
true-up adjustment letters, if required, and routine interim true-up adjustment letters must be submitted or filed at least fifty days prior to proposed effective date
of the adjustment. In each case, the California commission has committed in the financing order to provide a negative or affirmative response within twenty days of the submission of any routine true-up
adjustment letter. Under the financing order, the California commission’s review of any routine true-up adjustment advice letter, and any protest, will be limited solely to determining whether there is
any mathematical error in such advice letter. Any required correction of mathematical errors will not delay the effective date of such adjustment and, if such correction cannot be corrected prior to the effective date, such correction will be
reflected in the next adjustment request.

The servicer is also authorized under the financing order to seek a non-routine true-up at any time to revise the logic, structure and components of the methodology approved in the financing order to determine the fixed recovery charges. We
refer to such an adjustment as anon-routine true-upadjustment. A non-routine true-up adjustment advice letter must be submitted with the California commission at least ninety days prior to the effective date specified therein and will be acted upon by the California commission within
sixty days. In connection with a non-routine true-up adjustment, the financing order provides that the energy division of the California commission should prepare a
resolution for the California commission’s consideration that adopts, modifies or rejects the changes to the methodology proposed by the servicer. Absent such a resolution of the California commission that adopts, modifies or rejects the
change proposed in a non-routine true-up mechanism letter, the servicer may implement such change if the proposed effective date is at least ninety days after the date
of submission.

- 50 -

The Initial Fixed Recovery Charges