Company: SCE-PL
Filing Date: 2025-11-24
Form Type: 424B1
Source: 0001193125-25-293755
Chunk: 1

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-24
Form: 424B1
Chunk 1
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 provided by the “true-upmechanism” as well as by accounts held under the indenture. The bonds will be issued pursuant to Article 5.8 of Chapter 4 of the California Public Utilities Code, as amended (the Wildfire Financing Law), and an irrevocable financing orderissued by the CPUC on August 29, 2025 approving the issuance of the bonds. The CPUC’s obligations under the Wildfire Financing Law and the financing order are irrevocable and pursuant to the Wildfire Financing Law the CPUC shall neither reduce, alter nor impair the value of the recovery property nor the fixed recovery charges authorized under a financing order, except for the true-upadjustments to the fixed recovery charges. The bonds represent obligations only of the issuing entity, SCE Recovery Funding LLC, and do not represent obligations of the sponsor or any of its affiliates other than the issuing entity. The bonds are secured by the collateral, consisting principally of the recovery property acquired pursuant to the sale agreement and funds on deposit in the collection account for the bonds and related subaccounts. Please read “ Security for the Bonds” in this prospectus. The bonds are not a debt or liability of the State of California, the California Public Utilities Commission or any other governmental agency or instrumentality. The bonds are not a charge on the full faith and credit or the taxing power of the State of California or any governmental agency or instrumentality. Southern California Edison has sponsored, and we have previously issued three series of bonds in the initial aggregate principal amount $1,646,467,000 (herein described and referred to as the “ Prior Recovery Bonds”) pursuant to the Wildfire Financing Law. The Prior Recovery Bonds were issued pursuant to separate financing orders and are secured by separate fixed recovery charges, separate recovery property and separate collateral. Interest will accrue on the bonds from the date of issuance. The bonds are scheduled to pay principal and interest semi-annually on March 15 and September 15 of each year, beginning on September 15, 2026. The first scheduled payment date is September 15, 2026. On each payment date, each bond will be entitled to payment of principal, sequentially, but only to the extent funds are available in the collection account after payment of certain fees and expenses and after payment of interest. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROS