Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 21

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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Three months ended June 30,Six months ended June 30,(in millions)2025202420252024Fair value of net assets at beginning of period$156 $80 $212 $91 Settlements(4)4 (14)4 Total realized/unrealized gains (losses)127 (5)(19)(16)Fair value of net assets at end of period$179 $79 $179 $79 1Due to regulatory mechanisms, SCE's realized and unrealized gains and losses are recorded as regulatory assets and liabilities.There were no material transfers into or out of Level 3 during 2025 and 2024.The following table sets forth the significant unobservable inputs used to determine fair value for Level 3 assets and liabilities:Fair Value(in millions)SignificantUnobservableInputRange($ per MWh)WeightedAverage($ per MWh)AssetsLiabilitiesJune 30, 2025CRRs$173 $5 CAISO CRR auction prices$(10.95) - $36,279.67$42.24 Fin Toll arrangements11 — Hourly Forecast Power Prices(2.70) - 174.6763.00 December 31, 2024CRRs$212 $— CAISO CRR auction prices$(4.64) - $50,048.16$27.20 Level 3 Fair Value UncertaintyFor CRRs, increases or decreases in CAISO auction prices would result in higher or lower fair value, respectively.For Fin Toll arrangements, the fair value measurements are sensitive to the spread between daily high and daily low hourly power prices. Increases or decreases in this spread would result in higher or lower fair value, respectively.Nuclear Decommissioning TrustsSCE's nuclear decommissioning trust investments include equity securities, U.S. treasury securities, and other fixed income securities. Equity and treasury securities are classified as Level 1 as fair value is determined by observable market prices in active or highly liquid and transparent markets. The remaining fixed income securities are classified as Level 2. There are no securities classified as Level 3 in the nuclear decommissioning trusts. See Note 10 for more information on nuclear decommissioning trusts.Edison International Parent and OtherEdison International Parent and Other assets measured at fair value and classified as Level 1 consisted of money market funds of $53 million and $101 million at June 30, 2025 and December