Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 82

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 7
Chunk 82
---
," the 2025 GRC final decision approved an authorized revenue requirement of $9.7 billion in 2025, an increase of $880 million over the adjusted 2024 authorized revenue requirement. This led to an increase in authorized revenue of $243 million and $661 million for the three-month and the nine-month periods ended 2025, respectively, compared to the same periods in 2024. See "Management Overview—2025 General Rate Case" for further information.

In the first and second quarters of 2025, SCE recognized revenue based on the 2024 authorized revenue requirement in the absence of a 2025 GRC final decision. Upon receipt of the 2025 GRC final decision in September 2025, SCE retroactively recorded $418 million of increased authorized revenue for the first and second quarters in the third quarter of 2025. Additionally, SCE recorded net asset impairment related charges of $76 million ($39 million after-tax) in the same quarter. See "Management Overview—2025 General Rate Case" for further information.

The following tables summarize SCE's results of operations for the periods indicated.

Three months ended September 30, 2025 versus September 30, 2024

Three months endedSeptember 30,Favorable (Unfavorable)(in millions)202520242025 to 2024Operating revenue$5,740 $5,188 $552 Purchased power and fuel1,701 1,898 197 Operation and maintenance1,153 1,364 211 Wildfire-related claims, net of recoveries295 — (295)Wildfire Insurance Fund expense36 36 — Depreciation and amortization861 710 (151)Property and other taxes160 167 7 Asset impairment88 — (88)Total operating expenses4,294 4,175 (119)Operating income1,446 1,013 433 Interest expense(403)(403)— Other income, net119 126 (7)Income before income taxes1,162 736 426 Income tax expense203 95 (108)Net income959 641 318 Less: Preference stock dividend requirements34 39 5 Net income available to common stock$925 $602 $323 

Operating Revenue 

Higher net operating revenue of $552 million was primarily due to:

•An increase in revenue of $661 million resulting