Commission Continues San Onofre Nuclear Plant Settlement Review Process

ROSEMEAD, Calif.–(BUSINESS WIRE)–Southern California Edison will participate in the additional process
ordered today by the California Public Utilities Commission in a ruling
regarding the San Onofre nuclear plant closure settlement approved in
2014.

Ron Nichols, SCE president, said that today’s ruling does not invalidate
the settlement. The ruling establishes a process to determine whether
the settlement should be changed and, if so, how. The ruling sets forth
an initial expedited schedule with hearings tentatively scheduled to end
in early March and a commission decision to follow.

“Southern California Edison will actively participate in the process
ordered today,” Nichols said.

The San Onofre settlement was approved by the commission in 2014
following the premature retirement of the nuclear plant.

Nichols noted the settlement ensured that customers did not pay for the
faulty steam generators, which prompted the closure of San Onofre, from
the time this equipment failed. The settlement also reduced the portion
SCE customers pay in their monthly bills for the past investments to
build and maintain San Onofre over the nearly 30 years the plant
provided safe, reliable and low-cost power.

SCE and plant co-owner, San Diego Gas & Electric, have already returned
more than $2 billion to customers under the 2014 settlement.

SCE retired San Onofre in June 2013 after a contractor provided faulty
steam generators. SCE is focused on safely decommissioning the nuclear
plant, guided by core principles of safety, stewardship and engagement.
SCE has established a Community Engagement Panel to support those
principles. For more information, visit songscommunity.com.

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 approximately 15 million via 5 million customer accounts in a
50,000-square-mile service area within Central, Coastal and Southern
California.

Contacts

Southern California Edison
Media
Contact:
Maureen Brown, (626) 302-2255
or
Investor
Relations:
Sam Ramraj, (626) 302-2540