8-KOther Events

EDISON INTERNATIONAL 8-K Report, Corporate Update (May 15, 2006)

Filed May 15, 2006For Securities:EIX

Summary

This 8-K filing from Edison International (EIX), dated May 15, 2006, reports a significant decision from the California Public Utilities Commission (CPUC) regarding Southern California Edison Company's (SCE) general rate case. The CPUC authorized a base rate increase for SCE, providing a net positive revenue adjustment. This decision is crucial for investors as it impacts the profitability and operational capacity of EIX's primary subsidiary, SCE.

Key Highlights

  • 1The CPUC issued a final decision on SCE's 2006 general rate case on May 11, 2006.
  • 2The decision authorizes an approximate $134 million base rate increase for 2006 compared to current rates.
  • 3The total authorized increase is $274 million, offset by a $140 million one-time credit from an existing balancing account.
  • 4Additional rate increases of $74 million and $104 million are authorized for 2007 and 2008, respectively.
  • 5The CPUC substantially approved SCE's request to continue its capital investment program for infrastructure.
  • 6The rate increase decision is retroactive to January 12, 2006, with the balance to be recovered over the next 12 months.
  • 7The filing includes forward-looking statements subject to risks and uncertainties.

Frequently Asked Questions

The primary event is the final decision issued by the California Public Utilities Commission (CPUC) on Southern California Edison Company's (SCE) 2006 general rate case, which affects Edison International's (EIX) subsidiary.

The CPUC authorized a base rate increase for SCE of approximately $134 million for 2006, after accounting for a $140 million credit. Future increases of $74 million in 2007 and $104 million in 2008 are also authorized.

No, the decision is retroactive to January 12, 2006. The difference between the authorized increase and current rates since that date will be recovered through customer rates over the next 12 months.

The decision substantially approved SCE's request to continue its capital investment program, which is focused on infrastructure replacement and expansion.