Company: SCE-PL
Filing Date: 2025-10-28
Form Type: SF-1/A
Source: 0001193125-25-253849
Chunk: 2

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: SF-1/A
Chunk 2
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 recovery charges, paid by all existing and future consumers (subject to the exceptions described in this prospectus) within SCE’s service territory as it existed as of the date of the financing order (as defined below). The Wildfire Financing Law (as defined below) requires that fixed recovery charges be adjusted (or “trued-up”)at least annually, and the California Public Utilities Commission (the CPUCor the California commission) has authorized the fixed recovery charges to be adjusted more frequently to ensure the expected recovery of fixed recovery charge revenues sufficient to timely provide all scheduled payments of principal and interest on the bonds and related financing costs, as described further in this prospectus. Credit enhancement for the bonds will be 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