Company: SCE-PL
Filing Date: 2025-11-24
Form Type: 424B1
Source: 0001193125-25-293755
Chunk: 59

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-24
Form: 424B1
Chunk 59
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 advice letter), applying the true-up methodology described above, to adjust the fixed recovery charges to ensure the recovery of revenues sufficient to provide for the timely payment of the periodic payment
requirement. In addition to the mandatory annual true-up adjustment, the servicer is required to submit semi-annual advice letter to provide an accounting of historical
over-collection and under-collection of Fixed Recovery Charges. The financing order permits the servicer to make a semi-annual true-up adjustment in connection with the filing of the semi-annual advice
submission if it forecasts that Fixed Recovery Charge collections will be insufficient to make scheduled payments of principal of and interest on the Bonds and other Financing Costs on a timely basis during the current or next succeeding payment
period or to replenish any draws upon the capital subaccount. In addition, the servicer is authorized under the financing order to make interim routine adjustments at any time the servicer deems necessary to ensure the recovery of revenues
sufficient to provide for the timely payment 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