Edison International (EIX) Corporate presentation summary

Strategic focus and regulatory environment

• Prioritizing grid modernization, wildfire mitigation, and clean energy to support California's climate goals and customer technology choices.

• Wires-focused utility model with limited power generation ownership and a $38–41 billion infrastructure investment plan for 2026–2030.

• Constructive regulatory mechanisms include revenue decoupling, balancing accounts, and forward-looking ratemaking, providing revenue certainty and supporting affordability.

• California's aggressive GHG reduction targets and electrification drive significant investment and sustained rate base growth.

• Target dividend payout of 45–55% of core earnings, with 22 consecutive years of dividend growth.

Wildfire mitigation and risk management

• Layered wildfire mitigation strategy includes grid hardening, undergrounding, advanced technology, aerial suppression, and vegetation management.

• Achieved ~90% hardening of high fire risk area distribution system, with over 7,170 miles of covered conductor and 2.3 million vegetation trims/removals since 2018.

• California legislation (AB 1054, SB 254) provides a $21+ billion wildfire fund and a new $18 billion continuation account, capping utility liability and enhancing financial stability.

• Wildfire Fund and regulatory prudency standards limit exposure and provide liquidity for claims, with clear funding sources for major events like the Eaton Fire.

• Ongoing investments and adaptive risk-based analysis aim to further reduce wildfire risk and improve system resilience.

Electrification, clean energy, and customer affordability

• Electrification expected to nearly double load by 2045, requiring rapid grid expansion and supporting net-zero emissions goals.

• Transportation and building electrification, supported by state incentives and utility programs, drive sustained load growth and downward pressure on rates.

• SCE maintains the lowest system average rate among California IOUs, with rate increases projected at or below inflation through 2030.

• Electrification reduces total household energy expenses by ~36% by 2045, with SCE customers in the lowest-cost quartile nationally.

• Energy storage capacity is expanding, with 9.3 GW installed or procured and a target of 30+ GW statewide by 2045.