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May 15, 2006
On May 11, 2006, the California Public Utilities Commission (CPUC) issued a final decision in Southern California Edison Company's (SCE) 2006 general rate case. SCE is a subsidiary of Edison International. The general rate case decision authorized a base rate increase above currently-authorized rates of approximately $134 million for 2006. The increase authorized by the CPUC is $274 million above currently-authorized rates, but SCE will offset $140 million of this increase through a one-time credit from an existing balancing account. The CPUC also authorized increases of $74 million in 2007, and $104 million in 2008. The decision substantially approved SCE's request to continue its capital investment program for the infrastructure replacement and expansion.
The decision is retroactive to January 12, 2006, when the decision was initially forecasted to be rendered. The balance in the account established to record the recovery of the authorized rate increase since that date will be recovered in rates over the next 12 months.
A copy of the decision will be posted to the Regulatory Information section of the Edison International Investor Relations Web site after it becomes available.
This release includes forward-looking statements. Edison International based these forward-looking statements on its current expectations and projections about future events in light of its knowledge of facts as of the date of this release and its assumptions about future circumstances. These forward-looking statements are subject to various risks and uncertainties that may be outside the control of Edison International. Edison International has no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, or otherwise. This release should be read with Edison International's Annual Report on Form 10-K for the year ended December 31, 2005, and subsequent Quarterly Reports on Form 10-Q.
CPUC Issues Decision in SCE’s 2006 General Rate Case
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