Company: SCE-PL
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000827052-25-000074
Chunk: 61

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 7
Chunk 61
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 Program

Total capital expenditures (including accruals) were $3.1 billion and $2.5 billion for the six months ended June 30, 2025 and 2024, respectively. 

As discussed in the 2024 Form 10-K, in the absence of an approved 2025 GRC decision, SCE has developed, and is executing against, a capital expenditure plan that is expected to allow SCE to meet what is ultimately authorized in the 2025 GRC decision while minimizing the associated risk of unauthorized spending. In its 2024 Form 10-K, SCE forecasted total capital expenditures from $26.6 billion to $31.5 billion for 2025 – 2028, and weighted average annual rate base from $48.1 billion to $60.6 billion for 2025 – 2028. For further information regarding the capital expenditures, see "Liquidity and Capital Resources—SCE—Capital Investment Plan" below and "Management Overview—Capital Program" in the 2024 MD&A.

In May 2025, the CAISO approved its 2024-2025 Transmission Plan, which identified six transmission projects expected to be constructed by SCE with anticipated capital expenditures of approximately $300 million. SCE also expects to construct projects associated with previously approved CAISO Transmission Plans requiring capital investment of at least $2 billion. Most of the capital expenditures are expected to be incurred beyond 2028. For further information, see "Management Overview—Capital Program" in the 2024 MD&A.

Southern California Wildfires and Mudslides 

Unprecedented weather conditions in California due to climate change have contributed to wildfires, including those where SCE's equipment has been alleged to be associated with the fire's ignition, that have caused loss of life and substantial damage in SCE's service area, including as recently as January 2025.

5

SCE continues to implement its WMP to reduce the risk of SCE equipment contributing to the ignition of wildfires. Further to the investments SCE is making as part of its WMP, SCE also uses its PSPS program to proactively de-energize power lines as a last resort to mitigate the risk of significant wildfires during extreme weather events. In addition, California has increased its investment in wildfire prevention and fire suppression capabilities. Yet, the potential for catastrophic wildfire activity in SCE's service area still exists.

Eaton Fire

In January 2025, several wind-driven wildfires impacted portions of SCE's service area, causing loss of life, substantial damage