Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 272

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 272
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 other critical contract provisions (including completion of major milestones for construction), were as follows:(in millions)Total2025$2,986 20263,139 20272,704 20282,423 20292,421 Thereafter16,493 Total future commitments1$30,166 1Certain power purchase agreements are treated as operating leases. For further discussion, see Note 13. Includes long-term lease contracts commencing in 2024 with total future minimum lease payments of $57 million.Additionally, as of December 31, 2024, SCE has executed contracts that have not met the critical contract provisions that would increase contractual obligations by $25 million in 2025, $140 million in 2026, $274 million in 2027, $381 million in 2028, $450 million in 2029 and $5,370 million thereafter, if all critical contract provisions are completed. Costs incurred for PPAs were $4.0 billion in 2024, $4.5 billion in 2023 and $5.1 billion in 2022, which include costs associated with contracts with terms of less than one year.Other CommitmentsThe following summarizes the estimated minimum future commitments for SCE's other commitments:(in millions)20252026202720282029ThereafterTotalOther contractual obligations$62$59$59$59$48$142$429Costs incurred for other commitments were $65 million in 2024, $60 million in 2023 and $58 million in 2022. Other commitments include fuel supply contracts for Palo Verde which require payment only if the fuel is made available for purchase. Also included are commitments related to maintaining reliability and expanding SCE's transmission and distribution system.The table above does not include asset retirement obligations, which are discussed in Note 1.IndemnitiesEdison International and SCE have agreed to provide indemnifications through contracts entered into in the normal course of business. These are primarily indemnifications against adverse litigation outcomes in connection with underwriting agreements, indemnities for specified environmental liabilities and income taxes or other contractual arrangements. Edison International's and SCE's obligations under these agreements may or may not be limited in terms of time and/or amount, and in some instances Edison International and SCE may have recourse against third parties. Edison International and SCE have not recorded a liability related to these indemnities. The overall maximum amount of the obligations under these indemnifications cannot be reasonably estimated.ContingenciesIn addition to the matters disclosed in these Notes, Edison