Company: SCE-PL
Filing Date: 2025-03-13
Form Type: 424B5
Source: 0001193125-25-053812
Chunk: 37

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-03-13
Form: 424B5
Chunk 37
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 described below, in principal amounts equal to the lesser of (i) the amount authorized under the net earnings test described below and (ii) the sum of the following:

| a. | Certain bonds and underlying bonds acquired, redeemed or otherwise retired. |

| b. | Cash deposited to pay or redeem bonds or underlying bonds. |

| c. | 662/3% of the net amount of                                                                                                                                             
 additional property constructed or acquired by us and not theretofore used for other purposes under the first mortgage bond indenture, subject to certain restrictions. |

| d. | Cash deposited in an advance construction account with The Bank of New York Mellon Trust Company, N.A., as                           
 trustee (in certain events with such trustee’s consent), to be withdrawn to reimburse us for 662/3% of unbonded additional property. |

As of June 30, 2024, there were no first mortgage bonds acquired, redeemed or otherwise retired against which bonds might be issued under the first mortgage bond indenture pursuant to clause (a) above. The net amount of additional property against which bonds might be issued under the first mortgage bond indenture pursuant to clause (c) above was approximately $24.56 billion, resulting in the ability to issue $16.37 billion of bonds pursuant to clause (c) ( i.e.$24.56 billion x .6666 = $16.37 billion). The aggregate amount of bonds which we could issue under clauses (a) and (c) above would, if other conditions were met, be approximately $16.37 billion. As of June 30, 20214 we had $28.1 billion of our first mortgage bonds outstanding (including the first mortgage bonds issued to secure $751.9 million of pollution control bonds). Furthermore, in addition to the first mortgage bond indenture’s bondable property requirement described in clause (c) above, the first mortgage bond indenture also provides that additional first mortgage bonds may not be issued unless our net earnings (as defined) for twelve months shall have been at least two and one-half(2.5x) times our total annual first mortgage bond interest charge. At June 30, 2024, under the net earnings test we could issue $17.8 billion of additional first mortgage bonds (based on net earnings for the year ended June 30, 2024). Notwithstanding the net earnings requirement, additional first mortgage bonds may be issued under the provisions referred to in (a) and (b) above under