SCE Customer Rates to Decrease

ROSEMEAD, Calif.–(BUSINESS WIRE)–An average Southern California Edison residential customer’s bill would
decrease about 6 percent by the end of March as a result of several
actions by the California
Public Utilities Commission
, including
a vote on Thursday for funding SCE’s day-to-day operations.

The commission’s decision authorized recovery of costs reviewed in SCE’s General
Rate Case
, which includes inspecting,
repairing and replacing infrastructure that will make it easier to
restore power after an emergency outage in the future. It also funds the
people SCE employs, such as the workers who climb the poles to restore
electric service in storms and answer customer service calls.

“Southern California Edison is working hard to keep rates reasonable for
our customers while also making the necessary infrastructure
improvements for the 21st century power network, and we were able to do
that while requesting a rate decrease for our customers,” SCE President
Pedro Pizarro said.

Every three years, the
commission reviews a request from SCE
for the next three-year
spending cycle.

As of late November, an average residential customer’s bill will
decrease about 2 percent as a result of the commission approval on Oct.
22 of the 2015
costs for energy sources
SCE needs to supply electricity. These
expenses are passed through to customers at cost; there is no markup or
profit. SCE generates about 20 percent of its own power and buys the
rest through contracts and short-term markets. These costs are approved
annually.

The November bill decrease also includes settlement refunds from the
2000-2001 California energy crisis.

SCE expects the commission to approve its anticipated 2016 costs for
energy sources in the first quarter of the year. If the commission
approves SCE’s request, an average residential customer’s bill would
decrease 4 percent. Part of that decrease will be implementation of a
settlement with Nuclear
Electric Insurance Limited
for the San Onofre outages caused by the
failures of replacement steam generators. Ninety-five percent of the net
insurance proceeds will benefit customers — SCE’s share of the
settlement is $312.8 million.

The General Rate Case makes up more than 40 percent of rates for the
nearly 14 million people SCE serves. About half of customer rates comes
from the cost of energy sources for power. The remaining portion comes
from a variety of other factors, such as large transmission projects
regulated by the Federal
Energy Regulatory Commission
and programs for energy efficiency and
to protect low-income customers.

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About Southern California Edison

An Edison International (NYSE:EIX) company, Southern California Edison
is one of the nation’s largest electric utilities, serving a population
of nearly 14 million via 5 million customer accounts in a
50,000-square-mile service area within Central, Coastal and Southern
California.

Contacts

Media
Contact:
Lauren Bartlett, 626-302-2255