EDISON INTERNATIONAL (EIX)

Edison International is the parent holding company of Southern California Edison Company (SCE), a California public utility incorporated in 1909. Edison International itself was incorporated in 1987. It also owns Trio, a global energy advisory firm that provides integrated sustainability and energy solutions to commercial, industrial and institutional customers, aiming to address cost, carbon and complex energy choices. SCE is an investor-owned public utility primarily engaged in supplying and delivering electricity through its electrical infrastructure.

SCE is the principal operating business. It supplies and delivers electricity across an approximately 50,000 square-mile area of southern California. Trio, which includes the UK-based subsidiary Alfa Energy Ltd., is the other subsidiary. SCE's operations also include the decommissioning of the San Onofre nuclear plant, which it permanently retired in 2013, and an interest in the Palo Verde Nuclear Generating Station. Wildfire mitigation is a significant part of its capital program, including targeted undergrounding and covered conductor deployment in high fire risk areas.

SCE serves approximately 5.4 million customers, up from about 5.3 million in 2023. At December 31, 2025, these were roughly 4.67 million residential, 625 thousand commercial, 70 thousand public authority, and smaller numbers of industrial, agricultural and other customers. Trio serves commercial, industrial and institutional customers globally. SCE's revenue is set by regulators and decoupled from sales volume, so the amount of electricity sold does not directly affect its financial results.

SCE is regulated mainly by the California Public Utilities Commission (CPUC), which sets retail rates, capital structure and authorized returns, and by the Federal Energy Regulatory Commission (FERC), which regulates wholesale and transmission rates. Other oversight comes from NERC, the Office of Energy Infrastructure Safety, the NRC for nuclear facilities, and various environmental and land agencies. SCE has placed its transmission system under the operational control of the California Independent System Operator. Its revenue requirement is set in quadrennial general rate cases, and the 2025 GRC authorized $9.7 billion for 2025 rising to $11.2 billion for 2028. Its authorized capital structure is 43% long-term debt, 5% preferred equity and 52% common equity, with a 10.03% return on equity for 2026. At December 31, 2025, Edison International had 13,725 employees, of whom 13,235 were full-time SCE employees. About 4,600 are represented by the IBEW, and about 1,100 more voted in 2025 to be represented by ESC 20. SCE also relies on many contract workers. The company is headquartered at 2244 Walnut Grove Avenue, Rosemead, California.