Edison International Business Update

This report details Edison International's business update as of July 30, 2026. The company, through its principal subsidiary Southern California Edison (SCE), is a major electric utility focused on strengthening and modernizing its grid to support California's climate goals and the transition to clean energy. Key initiatives include significant investments in infrastructure, wildfire mitigation, and electrification. The company highlights its "wires-focused" strategy, emphasizing investments in reliability and resilience. Regulatory mechanisms like revenue decoupling and forward-looking ratemaking are in place to ensure revenue certainty. Edison International is actively managing wildfire risks through a comprehensive mitigation plan involving distribution and transmission hardening, new technology deployment, vegetation management, and Public Safety Power Shutoffs (PSPS). Recent legislation, including SB 254, provides a framework for wildfire cost recovery and liability management, aiming to enhance financial stability and customer affordability. The company forecasts substantial capital expenditures of $38–41 billion from 2026–2030, primarily for grid modernization and electrification, projecting a 7% rate base growth. Edison International also provided updated core earnings per share guidance for 2026 and 2027, with a commitment to consistent dividend growth and maintaining investment-grade credit ratings. The company anticipates significant load growth driven by electrification, projecting a doubling of electricity demand by 2045, and emphasizes its role in enabling a clean energy future while managing customer affordability.