Edison International (EIX) Corporate presentation summary

Strategic thesis and regulatory framework

• Wires-focused utility serves 5M+ customer accounts across 50,000 square miles; owned generation supplies less than 20% of delivered power, with a $38–41B infrastructure investment opportunity for 2026–2030.

• Investment thesis centers on reliability, resiliency and climate adaptation; rate base is projected to grow ~7% CAGR from 2025–2030, with a 45–55% target dividend payout of SCE core earnings.

• Revenue decoupling separates earnings from electricity sales; balancing accounts true up authorized-revenue variances, while forecast ratemaking reduces regulatory lag.

• California system average rates are 28.0¢/kWh for SCE, versus 32.6¢ for PG&E and 39.3¢ for SDG&E; rate growth is expected at or below inflation through 2030.

Wildfire mitigation and liability

• The 2026–2028 wildfire plan combines 700+ additional miles of covered conductor and targeted undergrounding with transmission upgrades, situational awareness, vegetation management and aerial suppression.

• Since 2018, SCE completed 7,230+ miles of covered conductor, 2.3M+ HFRA trims and removals, and 2M+ inspections; covered-conductor failure has caused no ignitions among the drivers it is designed to mitigate.

• Distribution hardening covers ~90% of the High Fire Risk Area system; 14,880+ circuit miles are complete, with up to 880 additional planned miles through 2028 under the approved GRC.

• AB 1054 establishes a safety-certification and prudency framework, a $21B+ Wildfire Fund and a reimbursement cap for eligible imprudence findings; SCE's 2025 cap was ~ $4.3B.

• SB 254 created an $18B continuation fund with no upfront contribution and authorizes securitization of $6B in wildfire-mitigation capital spending; durable liability reform remains a priority for affordability and grid investment.

Electrification and customer affordability

• Electricity sales are projected to grow ~1–3% annualized in 2025–2030, 30–40% cumulatively by 2035 and ~100% by 2045, relative to 2025.

• EV load in SCE's service area could rise from ~3,000 GWh in 2025 to 50,000+ GWh by 2045; approved charging programs and state zero-emission-vehicle funding support adoption and infrastructure.

• Average residential household energy expenses are projected to decline ~36%, from $6,452 in 2026 to $4,160 in 2045; the household share of income spent on energy is projected to fall from ~6% to below 3%.

• SCE has installed or procured ~9.3 GW of storage, with ~6.5 GW online; California-wide utility-scale storage needs are projected to exceed 30 GW by 2045.