Company: SCE-PL
Filing Date: 2025-09-08
Form Type: SF-1
Source: 0001193125-25-198426
Chunk: 7

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-09-08
Form: SF-1
Chunk 7
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, the term “customers” has the same meaning as “consumers” in the Wildfire Financing Law, and includes any existing or future customer of SCE, including customers purchasing energy from any ESP, and any other                           
 individual, governmental body, trust, business entity, or nonprofit organization located in the service territory of SCE as such service territory as it existed as of the date of the financing order that consumes electricity that has been           
 transmitted or distributed by means of electric transmission or distribution facilities, whether those electric transmission or distribution facilities are owned by the customer, SCE, or any other party. Under the Wildfire Financing Law, the only   
 customers exempt from paying fixed recovery charges are those customers enrolled in the California Alternative Rate for Energy (CARE) or the Family Electric Rate Assistance (FERA) programs, which customers are collectively referred to               
 herein as exempted customers.   The amount and terms for collections of these                                                                                                                                                                            
 fixed recovery charges are governed by the financing order. The Wildfire Financing Law permits an electrical corporation to transfer its rights and interests under a financing order, including the right to impose, collect and receive fixed recovery 
 charges, to a special purpose entity formed by the electrical corporation to issue debt securities secured by the right to receive revenues arising from the fixed recovery charges. The electrical corporation’s right to receive the fixed             
 recovery charges, all revenues and collections resulting from the fixed recovery charges and its other rights and interests under a financing order, upon transfer to the issuing entity, constitute recovery property. As provided in the financing     
 order, recovery property does not come into existence until SCE sells the recovery property to the issuing entity.                                                                                                                                       
 The California commission has previously issued three financing orders (referred to in this prospectus as the AB 1054 Financing Orders) to SCE to                                                                                                        
 recover previously incurred wildfire risk mitigation capital expenditures, prudently incurred financing expenses and financing costs, pursuant to which we issued the three series of Prior Recovery Bonds (as defined below) in the initial aggregate   
 principal amount of $1,646,467,000, of which $1,507,464,323 is outstanding as of June 30, 2025.                                                                                                                                                          |

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| Financing Order Authorizing the Bonds and Transaction Structure |     | On August 29, 2025, the California commission issued a further financing order to SCE to enable SCE to recover approximately                                                                                                                         
 $1.629 billion of WEMA costs, prudently incurred financing expenses and financing costs. References in this prospectus to