Company: SCE-PL
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001193125-25-283973
Chunk: 25

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-11-17
Form: 424B3
Chunk 25
---
 by physical or by electronic means, could result in loss or changes to confidential or sensitive information and interruption of business processes. While SCE’s vendors have experienced cybersecurity
incidents, such incidents have not, to SCE’s knowledge, resulted in a material impact to SCE to date.

SCE’s systems have
experienced and will continue to face, cyber and physical security events involving malicious codes, unauthorized access attempts, vandalism and other illicit activities, but to SCE’s knowledge it has not experienced a material cybersecurity
or data breach to date. No security program can completely shield its systems, infrastructure, and data from attacks, intrusions or other catastrophic events that could result in their failure or reduced functionality. There is no guarantee that
SCE’s security program, including prevention, detection, mitigation, and remediation of risks, will prevent all future cyber and physical security incidents that could materially impact its operations or financial condition.

If SCE’s information technology and operational technology systems’ security measures were to be breached, or a critical system
failure were to occur without timely recovery, SCE could be unable to fulfill critical business functions, such as delivery of electricity to customers and the ability to meter and bill customers all of which could materially affect SCE’s
ability to bill and collect fixed recovery charges or otherwise service the recovery property.

It may be difficult to collect fixed recovery charges from other parties who bill retail customers

Under California’s “direct access”
program, SCE faces competition in certain areas of its retail business from ESPs. Currently the direct access program is limited to 13,456.87 gigawatt hours of annual sales for SCE’s service area. However, as has been done previously in 2009
and 2018, the Legislature or the California commission could expand the direct access program at any time. Please read “The Depositor, Seller, Initial Servicer and Sponsor—Community Choice Aggregation, Direct Access and Departing Load” in this prospectus. In respect of customers taking service from an ESP, SCE remains the transmission and distribution provider. The Wildfire Financing Law provides that the fixed recovery charges must be paid by all existing and
future customers within SCE’s service territory as it existed as of the date of the financing order. The financing order

- 28 -

provides that customers with departing load must pay the fixed recovery charges on the departing load. Nevertheless, ESPs that elect to do their own billing will be responsible for billing the
fixed recovery charges and any delay in the remittance of such fixed recovery charges may reduce the