Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 59

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 59
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 information.

•Other Wildfire Events claims and expenses, net of recoveries:

•Net earnings of $6 million ($5 million after-tax) recorded in 2025 consisted of $14 million insurance reimbursements for costs incurred in previous years, partially offset by $8 million of legal expenses, net of expected regulatory recoveries.

•Charges of $121 million ($88 million after-tax) recorded in 2024 for wildfire claims and related legal expenses, net of expected insurance and regulatory recoveries. 

See "Notes to Condensed Consolidated Financial Statements—Note 12. Commitments and Contingencies" for further information.

•Charges of $72 million ($52 million after-tax) and $73 million ($52 million after-tax) recorded in 2025 and 2024, respectively, from amortization of SCE's contributions to the Wildfire Insurance Fund. See "Notes to Condensed Consolidated Financial Statements—Note 1. Summary of Significant Accounting Policies" for further information.

•Charges of $50 million ($39 million after-tax) recorded in 2025 and $1 million ($1 million after-tax) recorded in 2024, both related to wildfire claims insured by EIS. See "Notes to Condensed Consolidated Financial Statements— Note 12. Commitments and Contingencies" for further information.

See "Results of Operations" for discussion of SCE's and Edison International Parent and Other's results of operations.

4

2025 General Rate Case

In July 2025, the CPUC issued a proposed decision on the 2025 GRC that, if adopted, would result in a base rate revenue requirement of $9.8 billion in 2025, an increase of approximately $1.2 billion over the revenue requirement authorized for 2024. The proposed decision would also allow adjustment to the post-test years' base revenue requirements based on an attrition index, capped at five percent each year, plus additional increases for budget-based wildfire mitigation capital additions. Assuming a three percent attrition index increase each year, the proposed decision provides the post-test years' revenue requirements of $10.2 billion, $10.6 billion, and $11.0 billion, for 2026, 2027 and 2028, respectively. The proposed decision, if adopted, would authorize GRC capital expenditures of $6.2 billion for 2025.

Reflected below is SCE's weighted average annual rate base