In June 2024, SCE updated its 2025 revenue requirement request to $10.5 billion, which includes a $220 million increase associated with the cost of capital adjustment authorized by CPUC in a separate proceeding. The amended and revised rebuttal testimony also proposed post-test year revenue requirement increases of approximately $670 million, $750 million and $730 million in 2026, 2027 and 2028, respectively.

On May 20, 2024, SCE, in association with Lotus Infrastructure Global Operations, LLC ("Lotus"), was selected as the approved project sponsor for a 30-mile overhead transmission line project connecting San Diego and Orange Counties. The project is expected to be completed and in-service in 2032.

In March 2024, the CPUC issued a decision fully authorizing SCE's requested revenue requirement of approximately $327 million plus ongoing capital-related revenue requirement for the 2021 non-WCCP wildfire mitigation and vegetation management activities. The revenue requirement is being recovered in rates over 12 months starting June 1, 2024.

In July 2024, the CPUC approved SCE's request for interim rate recovery of $210 million of the $384 million revenue requirement associated with 2022 operations and maintenance and capital expenditures above levels authorized in wildfire mitigation accounts and the vegetation management balancing account. The revenue requirement for the interim rate recovery will be recovered in rates over 17 months starting October 1, 2024.

In May 2024, the CPUC issued a decision approving the recovery of SCE's capital request of $312 million and operation and maintenance expenses of $200 million for the 2020 emergency wildfire restoration efforts, resulting in a revenue requirement of $191 million plus ongoing capital-related revenue requirement. The revenue requirement will be recovered in rates over a 12-month period starting October 1, 2024.

Edison International and SCE may incur a material loss in excess of amounts accrued in connection with the remaining alleged and potential claims related to the 2017/2018 Wildfire/Mudslide Events. The estimated losses for the 2017/2018 Wildfire/Mudslide Events litigation are based on a number of assumptions and are subject to change as additional information becomes available.

While the CPUC has not made a determination regarding SCE's prudency relative to any of the 2017/2018 Wildfire/Mudslide Events, SCE is unable to conclude, at this time, that uninsured CPUC-jurisdictional wildfire-related costs are probable of recovery through electric rates. There is substantial uncertainty regarding how the CPUC will interpret and apply its prudency standard to an investor-owned utility in wildfire claims related cost-recovery proceedings for fires ignited prior to the adoption of AB 1054 on July 12, 2019.

SCE's credit ratings may be affected if, among other things, regulators fail to successfully implement AB 1054 in a consistent and credit supportive manner, or the Wildfire Insurance Fund is depleted by claims from catastrophic wildfires. Credit rating downgrades increase the cost and may impact the availability of short-term and long-term borrowings.

During the first six months of 2024, SCE issued a total of $3.8 billion of first and refunding mortgage bonds. The proceeds were used to fund and refinance debt for the payment of wildfire claims and related expenses above the amount of insurance proceeds, repay commercial borrowings, and for general corporate purposes.

In May 2024, SCE issued $350 million of preference stock. The proceeds were used in June 2024 to redeem all outstanding shares of SCE's Series E Preference Stock.

In the second quarter of 2024, Edison International Parent issued $500 million of 5.45% senior notes due in 2029. The proceeds were used for general corporate purposes and to repay commercial paper borrowings.