Company: SCE-PL
Filing Date: 2025-11-24
Form Type: 424B1
Source: 0001193125-25-293755
Chunk: 53

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-24
Form: 424B1
Chunk 53
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 emergency conditions under the California Takings Clause, leading to correspondingly narrower restrictions on State action under the California Takings Clause than under the Federal Takings
Clause. There is no assurance, however, that, even if a court were to award just compensation, it would be sufficient for you to recover fully your investment in the bonds.

In connection with the foregoing, Norton Rose Fulbright US LLP has advised us that issues relating to the Contract and Takings Clauses of the
United States and California constitutions are essentially decided on a case-by-case basis and that the courts’ determinations, in most cases, appear to be
strongly influenced by the facts and circumstances of the particular case, and Norton Rose Fulbright US LLP has further advised us that there are no reported controlling judicial precedents that are directly on point. The opinions described above
will be subject to the qualifications included in them. The degree of impairment necessary to meet the standards for relief under a Takings Clause analysis or Contract Clause analysis could be substantially in excess of what a bondholder would
consider material.

For a discussion of risks associated with potential judicial, legislation or regulatory actions, please read
“Risk Factors—Risks Associated with Potential Judicial, Legislative or Regulatory Actions” in this prospectus.

Exemptions from Fixed Recovery Charges

Under the Wildfire Financing Law, customers enrolled in the CARE or FERA programs are exempted from the
payment of fixed recovery charges. See “SCE’s Financing Order” in this prospectus.

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SCE’S FINANCING ORDER

SCE’s Financing Order

In April 2025, SCE filed an application with the California commission for a financing order seeking recovery of $1.398 billion of Thomas
Fire and Montecito debris flows WEMA costs that are subject to a prior settlement decision of the California commission, together with certain interim financing costs relating to these costs and financing costs relating to the issuance of the bonds.

On August 29, 2025, the California commission issued the financing order which authorized SCE to cause to be issued bonds in an
approximate aggregate principal amount of $1.629 billion, equal to the sum of $1.398 billion million in recovery costs, plus an estimated $219.8 million in pre-financing costs and an estimated
$11.6 million in bond-related financing costs relating to the issuance of the bonds (collectively, the Authorized Amount). The final principal amount of the bonds will be subject to the approval of the California commission in the