Company: SCE-PL
Filing Date: 2025-11-24
Form Type: 424B1
Source: 0001193125-25-293755
Chunk: 32

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-24
Form: 424B1
Chunk 32
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 collected by or for the benefit of SCE will be allocated among the tranches of bonds as set forth in the expected sinking fund schedule and the priority of payments set forth
under “Security for the Bonds—How Funds in the Collection Account Will Be Allocated” in this prospectus. However, we cannot assure you that the existence of multiple tranches of bonds would not cause reductions or delays in
payment on your bonds. In addition, some matters relating to the bonds may require the vote of the holders of all tranches of the bonds. Your interests in these votes might conflict with the interests of the beneficial owners of bonds of another
tranche and therefore these votes could result in an outcome that is materially unfavorable to you.

SCE may cause the issuance, either through us or other affiliated entities, of additional recovery bonds or other bonds secured by additional recovery property or other property that includes a nonbypassable charge on customers, which may cause a delay in the payment of the bonds and potential conflicts of interest among bondholders

SCE may seek additional financing orders from the California
commission under the Wildfire Financing Law to approve the recovery of certain wildfire-related costs through the issuance of additional recovery bonds.

We may, at our sole discretion, but subject to conditions set forth in our organizational documents and the indenture, acquire additional
recovery property created under a separate financing order, and issue, subject to satisfaction of the rating agency condition in respect of the Prior Recovery Bonds and the bonds, one or more series of additional recovery bonds supported by such
additional recovery property without your prior review or approval. Please read “Description of the Bonds—Conditions of Issuance of Additional Recovery Bonds” and “Security for the Bonds—Issuance of Additional Recovery Bonds” in this prospectus. In addition, SCE may in its sole discretion sell recovery property or property similar to recovery property, created by a separate financing order to one or more entities other than us in connection with
the issuance of additional recovery bonds or obligations similar to the bonds without your prior review or approval.

Any new issuance may
include terms and provisions that would be unique to that particular issuance. SCE has covenanted in the sale agreement that the satisfaction of the rating agency condition and the execution and delivery of an intercreditor agreement are conditions
precedent to the sale of additional recovery property or similar property consisting of nonbypassable charges payable by customers comparable to the recovery property to another entity. Please read “Security for the Bonds—Intercreditor Agreement” and “The