May 17, 2012 - Southern California Edison Announces Partial Redemption of Series A Preference Stock

Media relations contact: Charles Coleman, (626) 302-7982
Investor relations contact: Scott Cunningham, (626) 302-2540

ROSEMEAD, Calif., May 17, 2012 – Southern California Edison Company (SCE) announced today that it intends to redeem 750,000 shares of the 4 million outstanding shares of its Series A Preference Stock.  The redemption date will be June 16, 2012, and the redemption price will be $100.00 per share of Series A Preference Stock plus accrued and unpaid dividends up to, but excluding the redemption date.  SCE intends to redeem the variable-rate shares of Series A Preference Stock using a portion of the proceeds of a recent offering of fixed-rate preference securities.

All shares of the Series A Preference Stock are held through The Depository Trust Company (DTC), and the shares called for redemption will be chosen and redeemed according to the DTC’s procedures.  On or before the redemption date, SCE will have deposited in escrow for the benefit of the holders the funds necessary for the aggregate payment of the redemption price. 

On and after the redemption date, 750,000 shares of the total 4 million shares of Series A Preference Stock shall be deemed no longer to be outstanding, dividends on the Series A Preference Stock shall cease to accrue, and all rights with respect to the 750,000 shares called for redemption will thereafter cease and terminate at the close of business on the redemption date, except only the right of the holders to receive the redemption price, but without interest, upon surrender of their shares. 

Questions relating to, and request for additional copies of, the notice of redemption and related materials should be directed to Wells Fargo Bank, N.A. at (800) 347-8625. 

This news release does not constitute an offer to sell or a solicitation of any offer to buy such securities nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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 4.9 million customer accounts in a 50,000-square-mile service area within central, coastal and southern California.

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Southern California Edison Announces Partial Redemption of Series A Preference Stock

May 8, 2012 - Southern California Edison and California Independent System Operator Corporation Clarify Planning Dates and Process Regarding the San Onofre Nuclear Generating Station

ISO: Stephanie McCorkle | smccorkle@caiso.com  
ISO: Steven Greenlee | sgreenlee@caiso.com 
SCE: Jennifer Manfre | Jennifer.manfre@sce.com  | (626) 302-2255

ROSEMEAD and FOLSOM, Calif., May 8, 2012 — Southern California Edison (SCE) and the California Independent System Operator Corporation (ISO) seek to clarify media statements with regard to the restart of the San Onofre Nuclear Generating Station (SONGS).

SCE and the ISO have maintained throughout the SONGS outage that nuclear safety has no timeline and the units will only be returned to service when SCE and the Nuclear Regulatory Commission (NRC) are satisfied it is safe to do so.  SCE has not filed a request with the NRC seeking to restart the plant.

Recent media reports referred to June dates for the restart of Units 2 and 3 at SONGS. However, those dates were provided by SCE to the ISO as a purely administrative matter in March of 2012 because, for long-range planning purposes, ISO requires an estimated return to service date to be posted. These dates are for planning purposes only and are subject to change. 

“We want to clarify the use of planning dates and make sure it is clear that there is no timeline on nuclear safety,” said SCE President Ron Litzinger.

SCE continues to do causal analysis and develop repair and corrective actions plans.   When SCE is satisfied it can return the units to service safely, it will submit these plans to the NRC.

Both units of the plant are currently safely shut down for inspections, analysis and tests. Unit 2 was taken out of service Jan. 9 for a planned outage. Unit 3 was safely taken off line Jan. 31 after station operators detected a leak in a steam generator tube.

More information is available at www.edison.com/songsupdate.

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 4.9 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

About California Independent System Operator Corporation
The California ISO operates the state’s wholesale transmission grid, providing open and non-discriminatory access supported by a competitive energy market and comprehensive planning efforts. Partnering with about a hundred client organizations, the nonprofit public benefit corporation is dedicated to the continual development and reliable operation of a modern grid that operates for the benefit of consumers. The ISO bulk power market allocates space on transmission lines, maintains operating reserves and matches supply with demand.

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Southern California Edison and California Independent System Operator Corporation Clarify Planning Dates and Process
Regarding the San Onofre Nuclear Generating Station

May 7, 2012 - SCE Reminds Customers to ‘Avoid the Shock,’ Stay Safe Around Electricity

Media Contact: Mashi Nyssen, (626) 302-2255
 
ROSEMEAD, Calif., May 7, 2012 — May is National Electrical Safety Month and Southern California Edison (SCE) reminds its customers to stay safe around electricity, and to establish and practice good electrical safety habits throughout the year.

SCE’s goal is to increase public awareness of the electrical hazards at home, work and school.

“We have a tremendous reliance on electricity, but we should be aware of its hazards and take safety precautions when we are near it,” said Karli Massey, SCE public safety manager. “We are pleased to join in the national effort to raise awareness about potential electrical hazards and the importance of safety at work and at home.”

Electrical Safety Foundation International raises awareness about potential home electrical hazards and the importance of electrical safety. Each year in the United States, ESFI reports, home electrical failures or malfunctions cause more than 50,000 fires, resulting in more than 450 deaths, nearly 1,500 injuries and in excess of $1.5 billion in property damage.

Los Angeles County Fire Capt. Mark Savage says electricity is “one of the leading causes of fires and fire-related deaths. Because we use electricity and electrical appliances in our daily lives, we must treat it with the respect it deserves. It is critical that residents stay informed and prepared.”

SCE encourages its customers to follow these electrical safety tips:

Electrical Safety at Home:

• To protect against electrical shock, the U.S. Consumer Product Safety Commission recommends the use of a Ground Fault Circuit Interrupter, or GFCI.
• Have a qualified electrician install GFCI outlets in the kitchen, bath and anywhere water may be present; GFCIs are designed to protect against electric shock.
• Water conducts electricity, so it’s possible to be electrocuted by water that has come in contact with electricity.
• Keep electrical appliances and power tools away from water.
• Never use electrical appliances in the shower or bath.
• Dry hands thoroughly before reaching for any electrical appliance.

If an electrical fire breaks out:

• Do not throw water on an electrical fire. You could be electrocuted.
• If an appliance catches fire, safely unplug it as soon as possible.
• Call 911 for the fire department.
• If you see smoke or fire, or smell a strange odor coming from wires, appliances or electric motors, turn off the appliance and the main switch at the circuit breaker or fuse box if it is safe to do so.

For more safety tips, visit www.sce.com/staysafe.

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 4.9 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

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SCE Reminds Customers to ‘Avoid the Shock,’ Stay Safe Around Electricity

May 2, 2012 - Edison International Reports First Quarter 2012 Results

Media relations contact: Charles Coleman (626) 302-7982
Investor relations contact: Scott Cunningham (626) 302-2540

ROSEMEAD, Calif., May 2, 2012 – Edison International (NYSE: EIX) today reported first quarter 2012 basic earnings of $0.28 per share, compared to basic earnings of $0.61 per share in the same quarter last year. First quarter 2012 core earnings were $0.35 per share, compared to core earnings of $0.65 per share in the first quarter of 2011.

The decrease in earnings primarily related to losses at Edison Mission Group' (EMG) Midwest Generation unit and to a delay in the 2012 rate case decision at Southern California Edison (SCE). SCE incurred higher costs in the quarter to support its ongoing investment programs, but the revenues to support these investment programs are pending a decision from California regulators.

"The timing impact on SCE’s first quarter results should correct itself when a final rate case decision is received," said Ted Craver, chairman and chief executive officer of Edison International.  "Prospects remain strong for rate base and earnings growth at SCE."

In anticipation of the transfer of EMG’s Homer City station to its owner-lessors, results for Homer City are now classified as non-core for both periods.

First Quarter Earnings Detail

SCE' first quarter 2012 basic and core earnings were $0.56 per share compared to $0.68 per share in the first quarter of 2011. The core earnings decrease was primarily due to a delay in the 2012 California Public Utilities Commission (CPUC) general rate case decision as higher depreciation and net interest expenses are not being recovered in currently authorized revenue. The revenue requirement ultimately adopted by the CPUC will be retroactive to January 1, 2012. SCE also incurred $0.04 per share of incremental steam generator inspection and repair costs related to outages at the San Onofre Nuclear Generating Station that were offset by other operation and maintenance cost reductions.

Note: GAAP earnings and losses refer to net income or losses attributable to Edison International throughout this release. Core earnings are a non-GAAP financial measure. See Reconciliation of Core Earnings to GAAP Earnings and Reconciliation of Core Earnings Per Share Guidance to Basic Earnings Per Share Guidance.

EMG' first quarter 2012 basic losses were $(0.26) per share compared to losses of ($0.06) per share in the first quarter of 2011. Core losses were $(0.19) per share compared to losses of ($0.02) per share in the same quarter last year. 2012 core losses were due to lower generation, average realized energy, and capacity prices, along with higher fuel costs at Midwest Generation. Non-core items for both quarters included the results for Homer City in anticipation of the transfer of Homer City to the owner-lessors.

Edison International parent company and other reported a first quarter 2012 basic and core loss of $(0.02) per share compared to a $(0.01) per share basic and core loss in the same quarter last year.

2012 Earnings Guidance

The company will provide 2012 earnings guidance after SCE has received a final decision on its 2012 General Rate Case from the CPUC. See the risk disclosure statement on page 3 and the financial teleconference presentation accompanying the company’s earnings conference call for further information.

About Edison International

Edison International, through its subsidiaries, is a generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities, and Edison Mission Group, a competitive power generation business.

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Appendix and Summary Financial Schedules

Edison International Reports First Quarter 2012 Results

April 27, 2012 - SCE and Scripps Institution of Oceanography To Collaborate on Offshore Seismic Research Project at San Onofre

SCE Media Contact: Media Relations, (626) 302-2255
Scripps Media Contact: Mario Aguilera or Robert Monroe, 858-534-3624; scrippsnews@ucsd.edu

ROSEMEAD, Calif., April 27, 2012 — Southern California Edison (SCE) and Scripps Institution of Oceanography at the University of California at San Diego will collaborate on a project to gather seismic data off the coast of the San Onofre Nuclear Generating Station (SONGS). The work, part of SCE’s seismic research projects for SONGS Units 2 and 3, will involve state-of-the art data-gathering and analysis technologies, and will begin later this year and continue through 2013.

Scripps scientists will lead the project, which will include collecting and processing data from 2-D and 3-D multichannel seismic reflection and refraction off San Onofre State Beach. The raw and processed survey data will be open-source and available to other experts to view and use in further studies. This data will also be made available to the general public. Offshore seismic research is conducted with specially equipped boats that tow cables, or streamers, with underwater microphones at regular intervals. Two-dimensional seismic surveys usually have one streamer; three-dimensional surveys have four or more.

“Our number one priority is safety, and seismic safety plays an important role in our operations at the plant,” said Caroline McAndrews, SCE director of nuclear strategic projects. “Having Scripps take the lead on this important project will provide us with objective and world-class expertise in geophysics, and increase our understanding of SONGS’ seismic setting. This knowledge is key to ensuring the continued safe operation of SONGS.”

 Besides evaluating the existing and potential faults in the area, the seismic reflection and refraction surveys will image the offshore structures at an unprecedented resolution, and will allow scientists to test between the alternative hypotheses for the tectonic deformation observed off San Onofre. In addition, the geophysical surveys will reveal vertical motions of the crust through time, associated with margin reorganization.
Both units of the plant are currently safely shut down for inspections, analysis and tests. Unit 2 was taken out of service Jan. 9 for a planned outage. Unit 3 was safely taken off line Jan. 31 after station operators detected a leak in one of the unit’s steam generator tubes.

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 4.9 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

About Scripps Institution of Oceanography
Scripps Institution of Oceanography at University of California, San Diego, is one of the oldest, largest and most important centers for global science research and education in the world. Now in its second century of discovery, the scientific scope of the institution has grown to include biological, physical, chemical, geological, geophysical and atmospheric studies of the earth as a system. Hundreds of research programs covering a wide range of scientific areas are under way today in 65 countries. The institution has a staff of about 1,400, and annual expenditures of approximately $170 million from federal, state and private sources. Scripps operates robotic networks, and one of the largest U.S. academic fleets with four oceanographic research ships and one research platform for worldwide exploration. Birch Aquarium at Scripps serves as the interpretive center of the institution and showcases Scripps research and a diverse array of marine life through exhibits and programming for more than 415,000 visitors each year. Learn more at scripps.ucsd.edu. 

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Southern California Edison and Scripps Institution of Oceanography To Collaborate on Offshore Seismic Research Project at San Onofre