Articles from Southern California Edison

Southern California Edison announced today that it will redeem all the outstanding shares of its Series H Preference Stock, which will cause SCE Trust III to redeem all of its outstanding 5.75% Fixed to Floating Rate Trust Preference Securities (“Trust Preference Securities”). The redemption date will be Nov. 28, 2024, and the redemption price will be $25.00 per Trust Preference Security, plus accrued and unpaid dividends up to, but excluding the redemption date. The amount of accrued and unpaid distributions to but excluding Nov. 28, 2024 is $0.426992 per Trust Preference Security.

Ford Motor Company electric vehicle owners and lessees in Southern California Edison’s (SCE) service area now have the option to be compensated for assisting the electric grid during peak periods of energy demand. Ford is the first major U.S. automaker to facilitate customer participation in SCE’s Emergency Load Reduction Program (ELRP), one of the utility’s ongoing efforts to enhance grid resilience that also advances vehicle grid integration (VGI).

Southern California Edison and Lotus Infrastructure Partners today announced they were chosen by the California Independent System Operator (CAISO) to develop, permit, own, operate and maintain new transmission infrastructure that will deliver energy from renewable sources, such as utility-scale solar, wind and battery installations, to Southern California. The companies will build a high-voltage transmission line from Serrano Substation in north-central Orange County to a substation in the vicinity of the retired San Onofre Nuclear Generating Station (SONGS), largely utilizing existing rights of way for the line.

Southern California Edison announced today that it will redeem all of the outstanding shares of its Series E Preference Stock. The redemption date will be June 6, 2024, and the redemption price will be $1,000 per share of Series E Preference Stock, plus accrued and unpaid dividends up to, but excluding, the redemption date. The amount of accrued and unpaid distributions to, but excluding, June 6, 2024, will be $9.7874 per share of Series E Preference Stock. SCE will redeem the Series E Preference Stock using the proceeds of an offering of a new series of preference securities.

The board of directors of Southern California Edison today declared the following dividends:

Southern California Edison’s 5 million-plus residential and small business customers will receive an $86 California Climate Credit on their April and October bills, the largest climate credit payout SCE has distributed since California launched the program in 2014.

The board of directors of Southern California Edison today declared the following quarterly dividends, payable on Dec. 15, 2023, to shareholders of record on Dec. 14, 2023, on the:

The Board of Directors of Southern California Edison today declared the following dividends:

Southern California Edison today submitted its 2023-25 Wildfire Mitigation Plan to California’s Office of Energy Infrastructure Safety. SCE has reduced the probability of wildfires associated with its utility equipment by 75%-80% since 2018. This is a significant improvement within a short period and the company’s long-term public safety goals continue to be ambitious.

Southern California Edison is accelerating efforts to help customers navigate energy bill increases this year. SCE’s 5 million-plus residential and small business customers will receive the first of two California Climate Credits on their SCE bill a month early, in their March billing cycle. The first credit from this state program is typically issued each spring, but this year, SCE is pushing up its schedule to help customers whose bills are affected by the dramatic rise in natural gas prices that began late last year.

Southern California Edison launched the 2022 Catalina Island Clean Energy All-Source Request for Offers (RFO) to solicit bids from interested parties, including project sponsors and developers. The successful offer(s) will be part of the Catalina Island Repower Project and SCE’s long-term clean energy strategy as part of its Pathway 2045 vision for carbon neutrality by 2045.

The Board of Directors of Southern California Edison today declared the following quarterly dividends, payable on December 15, 2022, to shareholders of record on December 14, 2022, on the:

Southern California Edison estimates that it has reduced the probability of losses from catastrophic wildfires associated with SCE’s infrastructure by 65% to 70% compared to pre-2018 levels. The ongoing deployment of covered conductor and other grid hardening measures, enhanced inspections, expanded vegetation management and more targeted use of Public Safety Power Shutoffs (PSPS) allowed the company to achieve this significant reduction in wildfire risk. SCE expects to further reduce risk and decrease the need for PSPS with continued grid hardening investments.

With the height of fire season around the corner throughout California, Southern California Edison and Pacific Gas and Electric Company, in partnership with the 211 California Network, have ramped up their emergency preparedness support for customers in preparation for Public Safety Power Shutoffs (PSPS).

The Board of Directors of Southern California Edison today declared the following dividends:

Southern California Edison’s residential customers will receive a $59 California Climate Credit on their April and October billing statements. For the first time since the credit’s inception in 2014, most of SCE’s small business customers will receive the credit on their statements as well.

Southern California Edison today filed its annual update to its 2020-2022 Wildfire Mitigation Plan with the California Office of Energy Infrastructure Safety. The 2022 plan has an ambitious mission to continue to strengthen and adapt the grid to withstand extreme weather events likely exacerbated by climate change, including the installation of more insulated wire.

Southern California Edison is distributing $205 million in relief to help customers with past-due balances accrued between March 4, 2020 – the early days of the COVID-19 pandemic – through June 15, 2021. About 260,000 eligible SCE residential customers, including those enrolled in Community Choice Aggregators, will receive one-time credits on their February or March bills to partially reduce their past-due balances. No customer action is required.

With the federal government’s recent restart of the consent-based siting effort, the San Onofre Community Engagement Panel (CEP) will receive a briefing Feb. 10 from Dr. Kimberly Petry of the Department of Energy’s (DOE) Office of Nuclear Energy on a new effort regarding off-site consolidated interim storage of spent nuclear fuel. The meeting will begin at noon Pacific Time, to accommodate East Coast participants, and take place via Microsoft Teams video conference.

Southern California Edison, a leader in the transformation of the energy sector, is proposing to create healthier, clean energy homes and businesses by reducing the use of carbon-emitting fossil fuels in buildings through the installation of about 250,000 electric heat pumps across its service area.

Southern California Edison announced today that it is offering a $4,000 rebate to income-qualified customers who buy or lease pre-owned electric vehicles.

Southern California Edison (SCE), the principal subsidiary of Edison International (NYSEEIX), today announced a series of senior executive changes.

The Board of Directors of Southern California Edison today declared the following quarterly dividends, payable on December 15, 2021, to shareholders of record on December 14, 2021, on the:

To increase grid reliability for next summer, Southern California Edison will add 535 megawatts of battery energy storage at three strategically located SCE substations. This action responds to Gov. Gavin Newsom’s emergency proclamation to accelerate the rapid deployment of new clean energy and storage projects for summer 2021 and 2022. SCE will use land at its existing substations to quickly develop, permit and interconnect the battery storage resources. The company has contracted with Ameresco to install the battery energy storage systems that are expected to be online next August.

Southern California Edison recorded 37.66% of its corporate purchases, or $2.4 billion in spending, with more than 600 small and diverse businesses in 2020. The company’s contracting with these companies had an economic impact of more than $3.5 billion and sustained more than 23,000 jobs. This is according to SCE’s 2020 Supplier Diversity Economic Impact Report, prepared by data consultancy supplier.io, which helps companies evaluate the real-world effects of their spending in their communities and beyond.

Beginning today, businesses, government agencies and other organizations in Southern California will be able to sign up to participate in Southern California Edison’s Charge Ready program, the largest electric passenger vehicle charging infrastructure program in the nation run by an investor-owned electric utility company.

Southern California Edison’s support of California’s clean energy goals hit a tangible milestone in May with the completion of upgrades to SCE’s West of Devers transmission lines. The project increases transmission capacity necessary to bring renewable generation — more than 7,000 megawatts of renewable and battery energy storage resources in the coming years — from desert areas in the eastern part of California to the population centers of the Inland Empire and San Gabriel Valley.

With funding from Southern California Edison, local firefighting agencies now have additional state-of-the-art aircraft to combat wildfires.

Southern California Edison is encouraging more eligible customers to take part in the utility’s Medical Baseline program, which can provide more resiliency and support, especially during critical times.

The Board of Directors of Southern California Edison today declared the following dividends: