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

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-24
Form: 424B1
Chunk 25
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 SCE customers. One of the largest of these wildfires, the Eaton Fire, ignited in SCE’s service area in Los
Angeles County and spread under conditions of an extreme Santa Ana windstorm. Previous wildfires, including the Eaton Fire and future wildfires could lead to significant losses which may materially impact SCE and Edison International. In addition,
the Wildfire Insurance Fund created by AB 1054 and other provisions of AB 1054 may not be sufficient or effectively mitigate the significant risk faced by California investor-owned utilities related to liability for damages arising from catastrophic
wildfires where utility facilities are a substantial cause which could have a detrimental effect on SCE’s business and financial condition, which could impact its ability to restore power to customers, resulting in reduced or delayed fixed
recovery charge collections and possible delays in payment on the bonds.

In addition, weather-related incidents and natural disasters
could lead to legislative action adverse to the bondholders taken in response to such events, and such legislation, if challenged as a violation of the State pledge, might be defended on the basis of public necessity. Please read “Risk Factors—Risks Associated with Potential Judicial, Legislative or Regulatory Actions—Future state legislative action, including a voter initiative, might attempt to reduce the value of your investment in the bonds” in this
prospectus.

RISKS ASSOCIATED WITH POTENTIAL BANKRUPTCY PROCEEDINGS OF THE SELLER OR THE SERVICER

For a more detailed discussion of the following bankruptcy risks, please read “How a Bankruptcy May Affect Your Investment”
in this prospectus.

The servicer will commingle the fixed recovery charges with other revenues it collects, which might obstruct access to the fixed recovery charges in case of the servicer’s bankruptcy and reduce the value of your investment in the bonds

The servicer will be required to remit fixed recovery charge collections to the trustee no later than the second servicer business day of
receipt. The servicer will not segregate the fixed recovery charges from the other funds it collects from customers or ESPs or its general funds. The fixed recovery charges will be segregated only when the servicer pays them to the trustee.

Despite this requirement, the servicer might fail to pay the full amount of the fixed recovery charges payable to the trustee or might fail to
do so on a timely basis. This failure, whether voluntary or involuntary, might materially reduce the amount of fixed recovery charge collections available to make payments on the bonds.

The Wildfire Financing Law provides that the priority of a lien and