Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California, USA. It provides 11 million people with electricity. However, the Los Angeles Department of Water and Power, San Diego Gas & Electric, Imperial Irrigation District, and some smaller municipal utilities serve substantial portions of the southern California territory. The northern part of the state is generally served by the Pacific Gas & Electric Company of San Francisco.
Southern California Edison (SCE) still owns all of its electrical transmission facilities and equipment, but the deregulation of California's electricity market forced the company to sell many of its power plants, though some were probably sold by choice. In California, SCE retained only its hydroelectric plants, totaling about 1,200 MW, and its 75% share of the 2,150-MW San Onofre Nuclear Generating Station. The utility lost all of its natural gas-fired plants, which provided most of its electrical generation. The large, aging plants were bought by out-of-state companies such as Mirant and Reliant Energy, which allegedly used them to manipulate the California energy market. However, SCE still owns about half of the 1,580-MW coal-fired Mohave Generating Station in Laughlin, Nevada, which supplied electricity to California, Nevada, and Arizona. Mohave closed in December 2005, amid concerns regarding water rights and coal supplies.
Southern California Edison's power grid is linked to PG&E's by the Path 26 wires that generally follow Interstate 5 over Tejon Pass. The interconnection takes place at a massive substation at Buttonwillow. PG&E's and WAPA's Path 15 and Path 66, respectively, from Buttonwillow north eventually connect to BPA's grid in the Pacific Northwest. There are several other interconnections with local and out-of-state utilities, such as Path 46.
In addition, SCE operates a regulated gas and water utility. SCE is the sole commercial provider of natural gas and fresh water service to Santa Catalina Island, including the city of Avalon, California. SCE operates the utilities under the names of Catalina Island Gas Company and Catalina Island Water Company.
Edison International, formerly known as SCEcorp, acts as a holding company for Southern California Edison, one of the largest public utilities in the United States. Edison's other subsidiaries include: Edison Mission Energy, an independent power producer; Edison Capital, a unit that provides financing for energy-related projects and affordable housing; Edison Enterprises, a firm that oversees Edison's International's retail companies; and Edison O&M Services, a company that offers services related to increasing power plant efficiency. With operations in nine countries, Edison International maintains a power generation portfolio of over 28,000 megawatts and has assets exceeding $33 billion. California's deregulation and subsequent energy crisis nearly forced the company into bankruptcy in 2001. Edison International avoided insolvency by focusing on paying off debt and recovering costs related to the crisis.
Southern California Edison Company (SCE), incorporated in 1909, is a public utility primarily engaged in the business of supplying electric energy to a 50,000-square-mile area of central, coastal and southern California, excluding the City of Los Angeles and certain other cities. During the year ended December 31, 2007, SCE’s total operating revenue derived included 41% of commercial customers, 37% of residential customers, 4% of resale sales, 7% of industrial customers, 5% of other electric revenue, 5% of public authorities, and 1% of agricultural and other customers. SCE supplies electricity to its customers through transmission and distribution networks.
The Company’s transmission facilities, which deliver power from generating sources to the distribution network, consist of approximately 7,200 circuit miles of 33 kilovolt, 55 kilovolt, 66 kilovolt, 115 kilovolt and 161 kilovolt lines, and 3,500 circuit miles of 220 kilovolt lines (all located in California), 1,240 circuit miles of 500 kilovolt lines (1,040 miles in California, 90 miles in Nevada and 110 miles in Arizona), and 888 substations. SCE’s distribution system, which takes power from substations to the customer, includes approximately 71,550 circuit miles of overhead lines, 40,000 circuit miles of underground lines, 1.5 million poles, 717 distribution substations, 710,980 transformers, and 804,771 area and streetlights, all of which are located in California.
SCE owns and operates an undivided 78.21% interest (1,760 megawatt) in San Onofre Units 2 and 3, which are pressurized water nuclear generating units located on the California coastline between Los Angeles and San Diego; 36 hydroelectric plants (1,178.9 megawatt) located in California’s Sierra Nevada, San Bernardino and San Gabriel mountain ranges, three of which (2.7 megawatt) are no longer operational; a diesel-fueled generating plant (9 megawatt) located on Santa Catalina island off the southern California coast, and a natural gas-fueled two unit power plant (1,050 megawatt) located in Redlands, California.
During 2007, SCE completed construction of four gas-fueled, combustion turbine peaker plants located in the cities of Norwalk, Ontario, Rancho Cucamonga and Stanton, California. SCE also owns an undivided 15.8% interest (601 megawatt) in Palo Verde Units 1, 2 and 3, which are pressurized water nuclear generating units located near Phoenix, Arizona, and an undivided 48% interest (720 megawatt) in Units 4 and 5 at Four Corners, which is a coal-fueled generating plant located near the City of Farmington, New Mexico. Palo Verde and Four Corners are operated by Arizona Public Service Company.
In 1980 William R. Gould became chairman and chief executive officer of Edison, marking an important change in approach for the company. Gould had joined Edison in 1948 as a mechanical engineer, working his way up to vice-president in 1963, senior vice-president in 1973, and president in 1978. Within a few months of being named chairman in 1980, Gould unveiled a plan calling for a major commitment to alternative and renewable energy sources in the coming years. In 1981 oil, gas, and coal supplied the fuel for 70 percent of the company's 15.5-million kilowatt capacity. Under Gould's plan, however, one-third of the company's new power needs during the 1980s would come from nontraditional sources such as solar, geothermal, and wind power. The plan also entailed increasing the purchase of alternative forms of power from third-party sources, thereby decreasing the company's reliance on power from large, centralized generating stations, which were no longer as economical to run as they once were. In 1980 Edison began generating 3,000 kilowatts with a wind-powered turbine at San Gorgino Pass near Palm Springs, California. In 1981 it purchased the steam required to produce about 10,000 kilowatts of power from a geothermal well operated by Union Oil Company of California. Construction on a pilot solar facility was begun in the Mojave Desert that year as well.
In 1984 Howard P. Allen became chief executive officer of Edison, inheriting Gould's expansive network of energy suppliers, which together represented nine different sources of power. Although not all of these sources were as cost-efficient as oil, this diversified approach made the company less vulnerable to the volatile world oil market. By 1985 oil accounted for only 2 percent of the company's fuel needs, down from 60 percent ten years earlier. In the mid-1980s, the emergence of cogeneration by nonutility companies began to erode the earnings of some electric utilities, including Edison.
One way that Allen and Edison battled this trend was by reducing the rates charged to large industry, which accounted for about one-fifth of Edison's revenues, in order to encourage them to stay within Edison's system. Another strategy employed by the company was to start its own cogenerating subsidiary, Mission Energy.
By 1987 Edison was the second-largest electric-generating company in the United States, earning a company record $789 million that year. One-tenth of its power came from cogeneration and alternative sources, and 20 percent came from the San Onofre nuclear facility.
In 1988 SCEcorp was formed as the holding company for Edison, and a newly formed subsidiary called The Mission Group. The Mission Group--eventually known as Edison Mission Energy--in turn became a holding company for SCEcorp's nonutility subsidiaries. Edison stockholders received shares of SCEcorp stock, and operations continued essentially as before. Also in 1988 a merger was proposed between SCEcorp and San Diego Gas & Electric Company. The merger was approved by the shareholders of both companies the following year, but after two years of review it was rejected by the California Public Utilities Commission (CPUC).
Howard Allen retired in 1990, and was replaced as chairman and chief executive of both SCEcorp and Edison by John Bryson. Bryson, a former head of the CPUC, had joined Edison in 1984 as chief financial officer. Company records were set in 1990 in both earnings and revenue. Two trends that had begun in the 1980s had continued into the 1990s: the movement toward cogeneration continued to the degree that 57 percent of the new generating capacity built in the United States in 1990 was built by nonutility companies; and the trend toward zero consumption of oil as a generating fuel reduced SCEcorp's oil use to three million barrels in 1990 from a peak of 58 million barrels in 1977.
Deregulation Leads to Crisis: Mid-1990s and Beyond
SCEcorp and Southern California Edison traditionally benefited from the advantages of their location; advantages that were grounded in demographic, economic, and environmental factors. Although California's rate of growth did not assure the health of its utility companies forever, SCEcorp's willingness to adapt to the demands of the global economy and the global environment appeared to put it in a envied position. This would soon change however, as future deregulation promised to significantly change the utility landscape in California.
Before deregulation took place, Edison and its subsidiaries were focused on expanding business. The company's financing arm, Edison Capital, began investing in affordable housing projects and in 1993 started to provide financing to the Dutch national rail authority. Edison Mission Energy entered the international scene when it became involved in the Roosecote project in England. This unit also branched out into Australia and Northern Wales and by 1997 had interests in Indonesia, Italy, Turkey, the Philippines, and Thailand.
To prepare for deregulation, Edison began to sell off its oil and gas power plants in 1996 due to changes in laws that made it illegal for utilities to own both power generation and distribution operations. That year the company adopted Edison International as its new corporate moniker and with a new name in place, continued to restructure its operations successfully.
California's market opened up to competition in 1998, which marked the beginning of a chaotic period for California's citizens, the state's utilities companies, the government, and investors around the world. Rates were frozen that year, which proved to be problematic for Edison. From December 1999 into 2001, the company experienced a 900 percent rise in its power purchasing costs as demand increased. According to an August 2000 Los Angeles Business Journal article, there had been excess capacity in the industry during the mid-1990s. "Utilities were wary about adding capacity because of uncertainty about deregulation," the article claimed. "That didn't matter during the recession of the early to mid-1990s. But since the economy has come roaring back, demand has soared." This demand eventually began to outweigh supply, leaving many California residents in the dark.
Edison and its competitors stood in an unfavorable position. The public utilities had to purchase additional power, but were unable to pass on those costs to customers due to the rate freeze. From May 2000 to June 2001, the cost of unregulated wholesale power greatly exceeded what Southern California Edison collected from its customers. By 2001, costs had risen to $4.7 billion, and the company faced impending bankruptcy. In January of that year, the state began purchasing power for Southern California Edison so it could continue to supply its customers.
In October 2001, Edison reached an agreement with the CPUC in which it was allowed to recover $3.6 billion in costs by passing along a surcharge to its power customers. The plan was highly controversial and met with opposition from The Utility Reform Network (TURN), a consumer group that claimed the surcharge violated California's deregulation laws. The case was slated to go before the California Supreme Court in the summer of 2003.
During 2002, Edison focused on reducing debt and recovering costs related to the energy crisis. Meanwhile, the CPUC continued to revamp certain aspects of California's utilities industry to encourage infrastructure investment in an attempt to head off any future crises. Southern California Edison resumed its purchasing function in early 2003 and Edison planned to restore its dividend payment to shareholders--a payment it had made from the start of its history until it was suspended in 2000--by year end. Edison's financial turnaround however, was contingent upon success in the aforementioned case.
Principal Subsidiaries: Southern California Edison; Edison Mission Energy; Edison Capital; Edison Enterprises; Edison O&M Services.
Principal Competitors: Mirant Corporation; PG&E Corporation; Sempra Energy.
OVERALL
Beta: 0.03
Market Cap (Mil.): $92.83
Shares Outstanding (Mil.): 4.80
Annual Dividend: --
Yield (%): --
FINANCIALS
SCE_pc.A Industry Sector
P/E (TTM): -- 22.00 21.38
EPS (TTM): -- -- --
ROI: 3.60 1.23 1.47
ROE: 13.72 2.75 3.23
Statistics:
Public Company
Incorporated:1909 as Southern California Edison Company
Employees:15,038
Sales:$11.4 billion
Stock Exchanges:New York
Ticker Symbol:EIX
NAIC:22111 Hydroelectric Power Generation; 221112 Fossil Fuel Electric Power Generation; 221113 Nuclear Electric Power Generation; 221119 Other Electric Power Generation; 221121 Electric Bulk Power Transmission and Control; 221122 Electric Power Distribution; 551112 Offices of Other Holding Companies
Key Dates:
1909: Southern California Edison is organized to acquire all of Edison Electric Company's properties.
1917: The firm acquires Pacific Light & Power Corporation and a controlling interest in Mount Whitney Power & Electric Company.
1930: The company changes its name to Southern California Edison Company Ltd.
1980: Edison begins to focus on alternative and renewable energy.
1988: SCEcorp is formed as a holding company for Edison and new subsidiary The Mission Group.
1996: SCEcorp changes its name to Edison International; deregulation begins in California's energy sector.
2001: Edison faces bankruptcy during its home state's energy crisis.
Name Age Since Current Position
Litzinger, Ronald 51 2011 President, Director
Sullivan, Linda 47 2010 Chief Financial Officer, Senior Vice President
Pickett, Stephen 60 2011 Executive Vice President - External Relations
Ziegler, Lynda 58 2011 Executive Vice President - Power Delivery Services
Swartz, Russell 59 2011 Senior Vice President, General Counsel
Dietrich, Peter 46 2010 Senior Vice President and Chief Nuclear Officer
Hemphill, Stuart 47 2011 Senior Vice President - Power Supply
Dominski, Chris 44 2010 Vice President, Controller
Olson, Ronald 70 1995 Director
Craver, Theodore 59 2008 Director
Cordova, France 63 2004 Independent Director
Freeman, Bradford 69 2002 Independent Director
Nogales, Luis 67 1993 Independent Director
Rosser, James 71 1985 Independent Director
Schlosberg, Richard 66 2002 Independent Director
Sutton, Thomas 68 1995 Independent Director
Curtis, Charles 70 2006 Independent Director
White, Brett 51 2007 Independent Director
Chang, Vanessa 58 2007 Independent Director
Bindra, Jagjeet 63 2010 Independent Director
Address:
2244 Walnut Grove Avenue
Rosemead, California 91770
U.S.A.
Southern California Edison (SCE) still owns all of its electrical transmission facilities and equipment, but the deregulation of California's electricity market forced the company to sell many of its power plants, though some were probably sold by choice. In California, SCE retained only its hydroelectric plants, totaling about 1,200 MW, and its 75% share of the 2,150-MW San Onofre Nuclear Generating Station. The utility lost all of its natural gas-fired plants, which provided most of its electrical generation. The large, aging plants were bought by out-of-state companies such as Mirant and Reliant Energy, which allegedly used them to manipulate the California energy market. However, SCE still owns about half of the 1,580-MW coal-fired Mohave Generating Station in Laughlin, Nevada, which supplied electricity to California, Nevada, and Arizona. Mohave closed in December 2005, amid concerns regarding water rights and coal supplies.
Southern California Edison's power grid is linked to PG&E's by the Path 26 wires that generally follow Interstate 5 over Tejon Pass. The interconnection takes place at a massive substation at Buttonwillow. PG&E's and WAPA's Path 15 and Path 66, respectively, from Buttonwillow north eventually connect to BPA's grid in the Pacific Northwest. There are several other interconnections with local and out-of-state utilities, such as Path 46.
In addition, SCE operates a regulated gas and water utility. SCE is the sole commercial provider of natural gas and fresh water service to Santa Catalina Island, including the city of Avalon, California. SCE operates the utilities under the names of Catalina Island Gas Company and Catalina Island Water Company.
Edison International, formerly known as SCEcorp, acts as a holding company for Southern California Edison, one of the largest public utilities in the United States. Edison's other subsidiaries include: Edison Mission Energy, an independent power producer; Edison Capital, a unit that provides financing for energy-related projects and affordable housing; Edison Enterprises, a firm that oversees Edison's International's retail companies; and Edison O&M Services, a company that offers services related to increasing power plant efficiency. With operations in nine countries, Edison International maintains a power generation portfolio of over 28,000 megawatts and has assets exceeding $33 billion. California's deregulation and subsequent energy crisis nearly forced the company into bankruptcy in 2001. Edison International avoided insolvency by focusing on paying off debt and recovering costs related to the crisis.
Southern California Edison Company (SCE), incorporated in 1909, is a public utility primarily engaged in the business of supplying electric energy to a 50,000-square-mile area of central, coastal and southern California, excluding the City of Los Angeles and certain other cities. During the year ended December 31, 2007, SCE’s total operating revenue derived included 41% of commercial customers, 37% of residential customers, 4% of resale sales, 7% of industrial customers, 5% of other electric revenue, 5% of public authorities, and 1% of agricultural and other customers. SCE supplies electricity to its customers through transmission and distribution networks.
The Company’s transmission facilities, which deliver power from generating sources to the distribution network, consist of approximately 7,200 circuit miles of 33 kilovolt, 55 kilovolt, 66 kilovolt, 115 kilovolt and 161 kilovolt lines, and 3,500 circuit miles of 220 kilovolt lines (all located in California), 1,240 circuit miles of 500 kilovolt lines (1,040 miles in California, 90 miles in Nevada and 110 miles in Arizona), and 888 substations. SCE’s distribution system, which takes power from substations to the customer, includes approximately 71,550 circuit miles of overhead lines, 40,000 circuit miles of underground lines, 1.5 million poles, 717 distribution substations, 710,980 transformers, and 804,771 area and streetlights, all of which are located in California.
SCE owns and operates an undivided 78.21% interest (1,760 megawatt) in San Onofre Units 2 and 3, which are pressurized water nuclear generating units located on the California coastline between Los Angeles and San Diego; 36 hydroelectric plants (1,178.9 megawatt) located in California’s Sierra Nevada, San Bernardino and San Gabriel mountain ranges, three of which (2.7 megawatt) are no longer operational; a diesel-fueled generating plant (9 megawatt) located on Santa Catalina island off the southern California coast, and a natural gas-fueled two unit power plant (1,050 megawatt) located in Redlands, California.
During 2007, SCE completed construction of four gas-fueled, combustion turbine peaker plants located in the cities of Norwalk, Ontario, Rancho Cucamonga and Stanton, California. SCE also owns an undivided 15.8% interest (601 megawatt) in Palo Verde Units 1, 2 and 3, which are pressurized water nuclear generating units located near Phoenix, Arizona, and an undivided 48% interest (720 megawatt) in Units 4 and 5 at Four Corners, which is a coal-fueled generating plant located near the City of Farmington, New Mexico. Palo Verde and Four Corners are operated by Arizona Public Service Company.
In 1980 William R. Gould became chairman and chief executive officer of Edison, marking an important change in approach for the company. Gould had joined Edison in 1948 as a mechanical engineer, working his way up to vice-president in 1963, senior vice-president in 1973, and president in 1978. Within a few months of being named chairman in 1980, Gould unveiled a plan calling for a major commitment to alternative and renewable energy sources in the coming years. In 1981 oil, gas, and coal supplied the fuel for 70 percent of the company's 15.5-million kilowatt capacity. Under Gould's plan, however, one-third of the company's new power needs during the 1980s would come from nontraditional sources such as solar, geothermal, and wind power. The plan also entailed increasing the purchase of alternative forms of power from third-party sources, thereby decreasing the company's reliance on power from large, centralized generating stations, which were no longer as economical to run as they once were. In 1980 Edison began generating 3,000 kilowatts with a wind-powered turbine at San Gorgino Pass near Palm Springs, California. In 1981 it purchased the steam required to produce about 10,000 kilowatts of power from a geothermal well operated by Union Oil Company of California. Construction on a pilot solar facility was begun in the Mojave Desert that year as well.
In 1984 Howard P. Allen became chief executive officer of Edison, inheriting Gould's expansive network of energy suppliers, which together represented nine different sources of power. Although not all of these sources were as cost-efficient as oil, this diversified approach made the company less vulnerable to the volatile world oil market. By 1985 oil accounted for only 2 percent of the company's fuel needs, down from 60 percent ten years earlier. In the mid-1980s, the emergence of cogeneration by nonutility companies began to erode the earnings of some electric utilities, including Edison.
One way that Allen and Edison battled this trend was by reducing the rates charged to large industry, which accounted for about one-fifth of Edison's revenues, in order to encourage them to stay within Edison's system. Another strategy employed by the company was to start its own cogenerating subsidiary, Mission Energy.
By 1987 Edison was the second-largest electric-generating company in the United States, earning a company record $789 million that year. One-tenth of its power came from cogeneration and alternative sources, and 20 percent came from the San Onofre nuclear facility.
In 1988 SCEcorp was formed as the holding company for Edison, and a newly formed subsidiary called The Mission Group. The Mission Group--eventually known as Edison Mission Energy--in turn became a holding company for SCEcorp's nonutility subsidiaries. Edison stockholders received shares of SCEcorp stock, and operations continued essentially as before. Also in 1988 a merger was proposed between SCEcorp and San Diego Gas & Electric Company. The merger was approved by the shareholders of both companies the following year, but after two years of review it was rejected by the California Public Utilities Commission (CPUC).
Howard Allen retired in 1990, and was replaced as chairman and chief executive of both SCEcorp and Edison by John Bryson. Bryson, a former head of the CPUC, had joined Edison in 1984 as chief financial officer. Company records were set in 1990 in both earnings and revenue. Two trends that had begun in the 1980s had continued into the 1990s: the movement toward cogeneration continued to the degree that 57 percent of the new generating capacity built in the United States in 1990 was built by nonutility companies; and the trend toward zero consumption of oil as a generating fuel reduced SCEcorp's oil use to three million barrels in 1990 from a peak of 58 million barrels in 1977.
Deregulation Leads to Crisis: Mid-1990s and Beyond
SCEcorp and Southern California Edison traditionally benefited from the advantages of their location; advantages that were grounded in demographic, economic, and environmental factors. Although California's rate of growth did not assure the health of its utility companies forever, SCEcorp's willingness to adapt to the demands of the global economy and the global environment appeared to put it in a envied position. This would soon change however, as future deregulation promised to significantly change the utility landscape in California.
Before deregulation took place, Edison and its subsidiaries were focused on expanding business. The company's financing arm, Edison Capital, began investing in affordable housing projects and in 1993 started to provide financing to the Dutch national rail authority. Edison Mission Energy entered the international scene when it became involved in the Roosecote project in England. This unit also branched out into Australia and Northern Wales and by 1997 had interests in Indonesia, Italy, Turkey, the Philippines, and Thailand.
To prepare for deregulation, Edison began to sell off its oil and gas power plants in 1996 due to changes in laws that made it illegal for utilities to own both power generation and distribution operations. That year the company adopted Edison International as its new corporate moniker and with a new name in place, continued to restructure its operations successfully.
California's market opened up to competition in 1998, which marked the beginning of a chaotic period for California's citizens, the state's utilities companies, the government, and investors around the world. Rates were frozen that year, which proved to be problematic for Edison. From December 1999 into 2001, the company experienced a 900 percent rise in its power purchasing costs as demand increased. According to an August 2000 Los Angeles Business Journal article, there had been excess capacity in the industry during the mid-1990s. "Utilities were wary about adding capacity because of uncertainty about deregulation," the article claimed. "That didn't matter during the recession of the early to mid-1990s. But since the economy has come roaring back, demand has soared." This demand eventually began to outweigh supply, leaving many California residents in the dark.
Edison and its competitors stood in an unfavorable position. The public utilities had to purchase additional power, but were unable to pass on those costs to customers due to the rate freeze. From May 2000 to June 2001, the cost of unregulated wholesale power greatly exceeded what Southern California Edison collected from its customers. By 2001, costs had risen to $4.7 billion, and the company faced impending bankruptcy. In January of that year, the state began purchasing power for Southern California Edison so it could continue to supply its customers.
In October 2001, Edison reached an agreement with the CPUC in which it was allowed to recover $3.6 billion in costs by passing along a surcharge to its power customers. The plan was highly controversial and met with opposition from The Utility Reform Network (TURN), a consumer group that claimed the surcharge violated California's deregulation laws. The case was slated to go before the California Supreme Court in the summer of 2003.
During 2002, Edison focused on reducing debt and recovering costs related to the energy crisis. Meanwhile, the CPUC continued to revamp certain aspects of California's utilities industry to encourage infrastructure investment in an attempt to head off any future crises. Southern California Edison resumed its purchasing function in early 2003 and Edison planned to restore its dividend payment to shareholders--a payment it had made from the start of its history until it was suspended in 2000--by year end. Edison's financial turnaround however, was contingent upon success in the aforementioned case.
Principal Subsidiaries: Southern California Edison; Edison Mission Energy; Edison Capital; Edison Enterprises; Edison O&M Services.
Principal Competitors: Mirant Corporation; PG&E Corporation; Sempra Energy.
OVERALL
Beta: 0.03
Market Cap (Mil.): $92.83
Shares Outstanding (Mil.): 4.80
Annual Dividend: --
Yield (%): --
FINANCIALS
SCE_pc.A Industry Sector
P/E (TTM): -- 22.00 21.38
EPS (TTM): -- -- --
ROI: 3.60 1.23 1.47
ROE: 13.72 2.75 3.23
Statistics:
Public Company
Incorporated:1909 as Southern California Edison Company
Employees:15,038
Sales:$11.4 billion
Stock Exchanges:New York
Ticker Symbol:EIX
NAIC:22111 Hydroelectric Power Generation; 221112 Fossil Fuel Electric Power Generation; 221113 Nuclear Electric Power Generation; 221119 Other Electric Power Generation; 221121 Electric Bulk Power Transmission and Control; 221122 Electric Power Distribution; 551112 Offices of Other Holding Companies
Key Dates:
1909: Southern California Edison is organized to acquire all of Edison Electric Company's properties.
1917: The firm acquires Pacific Light & Power Corporation and a controlling interest in Mount Whitney Power & Electric Company.
1930: The company changes its name to Southern California Edison Company Ltd.
1980: Edison begins to focus on alternative and renewable energy.
1988: SCEcorp is formed as a holding company for Edison and new subsidiary The Mission Group.
1996: SCEcorp changes its name to Edison International; deregulation begins in California's energy sector.
2001: Edison faces bankruptcy during its home state's energy crisis.
Name Age Since Current Position
Litzinger, Ronald 51 2011 President, Director
Sullivan, Linda 47 2010 Chief Financial Officer, Senior Vice President
Pickett, Stephen 60 2011 Executive Vice President - External Relations
Ziegler, Lynda 58 2011 Executive Vice President - Power Delivery Services
Swartz, Russell 59 2011 Senior Vice President, General Counsel
Dietrich, Peter 46 2010 Senior Vice President and Chief Nuclear Officer
Hemphill, Stuart 47 2011 Senior Vice President - Power Supply
Dominski, Chris 44 2010 Vice President, Controller
Olson, Ronald 70 1995 Director
Craver, Theodore 59 2008 Director
Cordova, France 63 2004 Independent Director
Freeman, Bradford 69 2002 Independent Director
Nogales, Luis 67 1993 Independent Director
Rosser, James 71 1985 Independent Director
Schlosberg, Richard 66 2002 Independent Director
Sutton, Thomas 68 1995 Independent Director
Curtis, Charles 70 2006 Independent Director
White, Brett 51 2007 Independent Director
Chang, Vanessa 58 2007 Independent Director
Bindra, Jagjeet 63 2010 Independent Director
Address:
2244 Walnut Grove Avenue
Rosemead, California 91770
U.S.A.