Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 109

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 109
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's condensed consolidated balance sheets. At December 31, 2024, SCE posted $74 million of cash collateral, of which $46 million was offset against derivative liabilities and $28 million was reflected in "Other current assets" on the condensed consolidated balance sheets. Financial Statement Impact of Derivative InstrumentsSCE recognizes realized gains and losses on derivative instruments as purchased power expense and unrealized gains and losses as regulatory assets or liabilities. Both realized and unrealized gains and losses are expected to be refunded to or recovered from customers and therefore do not affect earnings. Cash flows from derivative activities, including cash collateral, are reported in cash flows from operating activities in SCE's condensed consolidated statements of cash flows.

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The following table summarizes the gains/(losses) of SCE's economic hedging activity:Three months ended June 30,Six months ended June 30,(in millions)2025202420252024Realized$(3)$(55)$(43)$(126)Unrealized35 (9)11 (37)Notional Volumes of Derivative InstrumentsThe following table summarizes the notional volumes of derivatives used for SCE's economic hedging activities:CommodityUnit ofMeasureEconomic HedgesJune 30, 2025December 31, 2024Electricity options, swaps and forwardsGigawatt hours6,9143,295Natural gas options, swaps and forwardsBillion cubic feet104Congestion revenue rightsGigawatt hours4,1198,141Fin Toll arrangementsGigawatt hours240—

Note 7.  RevenueThe following table is a summary of SCE's revenue:Three months endedJune 30,Six months endedJune 30,(in millions)2025202420252024Revenue from contracts with customers1 Commercial$1,874 $1,922 $3,422 $3,401  Residential1,506 1,363 3,085 2,925  Other773 816 1,415 1,545 Total revenue from contracts with customer24,153 4,101 7,922 7,871 Alternative revenue program and other3379 223 412 517 Total operating revenue$4,532 $4,324 $8,334 $8,388 1Since January 1, 2025, and until a GRC decision is issued, SCE is recognizing revenue based on the 2024 authorized revenue requirement, adjusted to reflect