Company: SCE-PL
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001193125-25-283973
Chunk: 65

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-17
Form: 424B3
Chunk 65
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 within SCE’s service territory. Customers not
wishing to participate must opt out. As of year-end 2024, SCE had twelve CCAs serving customers in its service territory that represent approximately 20.6% of SCE’s total service load. Based on recent
load statistics, SCE anticipates that direct access and CCA load will be approximately 36.8% of its total service load by the end of 2025. When customers are served by a CCA, SCE continues to be responsible for the transmission and distribution of
the electricity, as well as metering and billing and consumers must pay the fixed recovery charges on all electricity consumption.

California law also provides limited opportunities for customers in SCE’s service territory to choose to purchase power directly from an
ESP or a Community Aggregator, other than a CCA. A limited, phased-in partial reopening of direct access for nonresidential customers was authorized in 2010, and an additional limited partial reopening of
direct access was authorized in 2018. As of the end of 2024, SCE had 38,756 customers, consuming 12,056 GWh of electricity, who took service on direct access.

Please read “The Depositor, Seller, Initial Servicer and Sponsor—Forecasting Electricity Consumption” in this
prospectus. As with the CCAs, when a customer who previously took bundled service from SCE converts to taking procurement service from an ESP or Community Aggregator, SCE remains that customer’s transmission and distribution provider and
customers must pay the fixed recovery charges on all electric consumption. When consumers are served by CCA, SCE continues to be responsible for metering and billing of the fixed recovery charges.

Other forms of departing load (DL) include customer generation, and load that departs SCE service entirely to take electricity
service from a publicly owned utility or a tribal utility. Please read “—Municipalization; Municipal Departing Load” in this prospectus.

Another form of departing load includes customer generation. Under current CPUC decisions, DL customers taking NEM service with solar
generation are billed on a net-metered basis. Pursuant to the financing order, and in accordance with SCE’s existing tariffs, fixed recovery charges will be imposed only on each kWh of electricity that
is imported from the SCE net of exports in each metered interval. Under SCE’s current tariffs, DL customers who self-generate using generation facilities which do not qualify for NEM but which interconnect to and operate in parallel with
SCE’s