AI English summary of an SEC filing — figures as filed
Edison International EIXThe company said the California Public Utilities Commission (CPUC) issued a final decision on December 18, 2025 authorizing the cost of capital for SCE for 2026. The authorized capital structure for 2025 is 43.00% long-term debt, 5.00% preferred equity and 52.00% common equity. The decision extends the cost of capital mechanism in its current form through this cycle.
Key points
AI summaryThe company said the California Public Utilities Commission (CPUC) issued a final decision on December 18, 2025 authorizing the cost of capital for SCE for 2026. The authorized capital structure for 2025 is 43.00% long-term debt, 5.00% preferred equity and 52.00% common equity. The decision extends the cost of capital mechanism in its current form through this cycle.
The company said the CPUC-authorized cost of capital for 2026 is 4.71% long-term debt, 6.89% preferred equity and 10.03% common equity, with a rate of return of 7.59%. For 2025, the figures were 4.58%, 6.42% and 10.33%, respectively, with a rate of return of 7.66%.
The company said that following the CPUC decision, it reaffirmed its guidance for Core EPS compound annual growth of 5 to 7% for 2025 to 2028 (2028 Core EPS of $6.74 to $7.14), compound annual rate base growth of 7 to 8% for 2024 to 2028, and a capital plan of $28 to 29 billion for 2025 to 2028. It also maintained its outlook for no annual equity needs for 2025 to 2028.
The company reaffirmed its 2025 EIX Basic EPS guidance of $8.05 to $8.30 and its Core EPS guidance of $5.95 to $6.20, which excludes non-core items of $2.10. Non-core items were $808 million recorded over the 9 months ended September 30, 2025, and the Basic EPS guidance reflects only non-core items through September 30.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Final 2026 Cost of Capital Decision
The company said the California Public Utilities Commission (CPUC) issued a final decision on December 18, 2025 authorizing the cost of capital for SCE for 2026. The authorized capital structure for 2025 is 43.00% long-term debt, 5.00% preferred equity and 52.00% common equity. The decision extends the cost of capital mechanism in its current form through this cycle.
Source · Based on the filing body and exhibits
2026 CPUC-Authorized Cost of Capital and Rate of Return
The company said the CPUC-authorized cost of capital for 2026 is 4.71% long-term debt, 6.89% preferred equity and 10.03% common equity, with a rate of return of 7.59%. For 2025, the figures were 4.58%, 6.42% and 10.33%, respectively, with a rate of return of 7.66%.
Source · Based on the filing body and exhibits
Long-Term Outlook Reaffirmed
The company said that following the CPUC decision, it reaffirmed its guidance for Core EPS compound annual growth of 5 to 7% for 2025 to 2028 (2028 Core EPS of $6.74 to $7.14), compound annual rate base growth of 7 to 8% for 2024 to 2028, and a capital plan of $28 to 29 billion for 2025 to 2028. It also maintained its outlook for no annual equity needs for 2025 to 2028.
Source · Based on the filing body and exhibits
2025 Earnings Guidance Reaffirmed
The company reaffirmed its 2025 EIX Basic EPS guidance of $8.05 to $8.30 and its Core EPS guidance of $5.95 to $6.20, which excludes non-core items of $2.10. Non-core items were $808 million recorded over the 9 months ended September 30, 2025, and the Basic EPS guidance reflects only non-core items through September 30.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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