Company: SCE-PL
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000827052-25-000100
Chunk: 68

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-10-28
Form: 10-Q
Item: Item 7
Chunk 68
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 at five percent each year, along with budget-based wildfire mitigation capital additions. Additionally, the final decision adopted zero escalation for all of SCE's non-wildfire related capital additions in the attrition years. Assuming a three percent attrition index increase each year, the final decision results in post-test years' revenue requirement adjustments of $544 million, $522 million, and $447 million, for 2026, 2027, and 2028, respectively.

The table below sets out the authorized revenue and costs of service for the 2024 authorized revenue requirement and the 2025 GRC final decision:

(in millions)2024AuthorizedRevenueAdjustments1Adjusted2024AuthorizedRevenue2025Final DecisionAuthorizedRevenue2IncreaseAuthorized revenue$8,582 $198 $8,780 $9,660 $880 3Cost of service:Operation and maintenance2,734 — 2,734 2,857 123 4Depreciation2,284 108 2,392 2,729 337 5Property and payroll taxes487 6 493 550 57 Income taxes403 25 428 554 126 Authorized return2,674 59 2,733 2,970 237 6Total$8,582 $198 $8,780 $9,660 $880 

1Adjustments to the 2024 authorized revenue requirement primarily related to the Customer Service Re-Platform project, which was recovered through a CPUC non-GRC recovery mechanism and approved to be included in the GRC-authorized revenue in the 2025 GRC.

2Reflects SCE's GRC authorized revenue as filed in SCE's September 2025 GRC implementation advice letter.

3Authorized revenue increased $661 million for the nine-month period ended 2025 compared to the same period in 2024. See "Results of Operations—SCE—Impact of 2025 GRC" for further information.

4Authorized revenue for operation and maintenance expenses increased primarily due to higher authorized wildfire expenditures.

5Authorized revenue for depreciation increased primarily due to higher plant balances.

6Authorized revenue for return increased primarily due to authorized rate base growth.

In the first and second quarters of 2025, SCE recognized revenue based on the 2024 authorized GRC revenue requirement in the absence of a 2025 GRC final decision. The approved 2025 revenue requirement in the 2025 GRC final decision is