Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 372

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 372
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 offset in the consolidated balance sheets(1)(1)Cash collateral posted— (46)Net amounts presented in the consolidated balance sheets$212 $— December 31, 2023(in millions)Derivative AssetsShort-Term1Derivative LiabilitiesShort-Term2Commodity derivative contractsGross amounts recognized$94 $77 Gross amounts offset in the consolidated balance sheets(3)(3)Cash collateral posted— (74)Net amounts presented in the consolidated balance sheets$91 $— 1Included in "Other current assets" on SCE's consolidated balance sheets.2Included in "Other current liabilities" on SCE's consolidated balance sheets. At December 31, 2024, SCE posted $74 million of cash collateral, of which $46 million was offset against derivative liabilities and $28 million was reflected in "Other current assets" on the consolidated balance sheets. Financial Statement Impact of Derivative InstrumentsSCE recognizes realized gains and losses on derivative instruments as purchased power expense and unrealized gains and losses as regulatory assets or liabilities. Both realized and unrealized gains and losses are expected to be recovered from customers and therefore do not affect earnings. Cash flows from derivative activities, including cash collateral, are reported in cash flows from operating activities in SCE's consolidated statements of cash flows.The following table summarizes the gains/(losses) of SCE's economic hedging activity:Years ended December 31,(in millions)202420232022Realized$(409)$(14)$178 Unrealized149 (322)310 

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Notional Volumes of Derivative InstrumentsThe following table summarizes the notional volumes of derivatives used for SCE's economic hedging activities:Economic HedgesUnit ofMeasureDecember 31,Commodity20242023Electricity options, swaps and forwardsGigawatt hours3,2953,494Natural gas options, swaps and forwardsBillion cubic feet431Congestion revenue rightsGigawatt hours8,14135,011

Note 7. Revenue

The following table is a summary of SCE's revenue:Years ended December 31,(in millions)202420232022Revenue from contracts with customers Commercial$8,000 $7,333 $7,028  Residential7,060 6,421 6,707  Other3,335 3,266 3,025 Total revenue from contracts with customer118,395 17,020 16,760 Alternative revenue