UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
Edison International:
Southern California Edison Company: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
This current report and its exhibits include forward-looking statements. Edison International and Southern California Edison Company ("SCE") based these forward-looking statements on their current expectations and projections about future events in light of their knowledge of facts as of the date of this current report and their assumptions about future circumstances. These forward-looking statements are subject to various risks and uncertainties that may be outside the control of Edison International and SCE. Edison International and SCE have no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, or otherwise. This current report should be read with Edison International's and SCE's combined Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Quarterly Reports on Form 10-Q. Additionally, Edison International and SCE provide direct links to EIX and SCE presentations, documents and other information at www.edisoninvestor.com (Presentations) in order to publicly disseminate such information.
Item 8.01Other Events
On August 19, 2021, the California Public Utilities Commission (“CPUC”) approved a final decision in Edison International’s subsidiary Southern California Edison Company’s (“SCE”) 2021 General Rate Case. The decision authorized a base rate revenue requirement of $6.9 billion for 2021, a decrease of $730 million from SCE’s requested revenue requirement and an increase of $356 million over revenue requirements authorized for 2020. The final decision is retroactive to January 1, 2021.
The final decision authorizes escalation of wildfire capital additions based on forecast spending for both 2022 and 2023 and authorizes operation and maintenance expenses to be escalated for 2022 and 2023 through the use of various escalation factors for labor, non-labor and medical expenses. The methodology adopted in the decision results in a revenue requirement of $7.3 billion in 2022 and $7.7 billion in 2023.
Item 7.01Regulation FD Disclosure
Edison International announced earnings per share guidance for 2021. See the presentation attached hereto as Exhibit 99.1 for further information including key guidance assumptions.
Members of Edison International management will use the information in the presentation attached hereto as Exhibit 99.1 in meetings with institutional investors and analysts and at investor conference presentations. The attached presentation will also be posted on www.edisoninvestor.com.
Item 9.01Financial Statements and Exhibits
(d) | Exhibits |
EXHIBIT INDEX
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Exhibit No. |
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99.1 | ||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |