EDISON INTERNATIONAL

Impact of 2025 GRC

The 2025 GRC final decision was approved by the CPUC in September 2025, and determines the amount of revenue that SCE is authorized to collect from customers to recover anticipated costs, including return on rate base. The final decision approved an authorized revenue requirement of $9.7 billion in 2025, an increase of $880 million over the adjusted 2024 authorized revenue requirement (see table below for more details).

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

1 Adjustments 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.

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

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

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

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

SCE recorded net charges of $76 million ($39 million after-tax), primarily due to an $88 million impairment of utility property, plant and equipment associated with historical capital expenditures disallowed in the final decision, mainly related to the rooftop solar photovoltaic program. This was partially offset by the recognition of a $12 million clean energy subsidy previously received for this program.