GRC Decision 8-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 8, 2004
EDISON INTERNATIONAL
(Exact name of registrant as specified in its charter)
CALIFORNIA 001-9936 95-4137452
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2244 Walnut Grove Avenue
(P.O. Box 800)
Rosemead, California 91770
(Address of principal executive offices, including zip code)
626-302-2222
(Registrant's telephone number, including area code)
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This current report includes forward-looking statements. These forward-looking statements are based on
current expectations and projections about future events based on knowledge of facts as of the date of this
current report and assumptions about future events. These forward-looking statements are subject to various
risks and uncertainties that may be outside the control of Edison International and its subsidiaries. Edison
International has no obligation to publicly update or revise any forward-looking statements, whether as a result
of new information, future events, or otherwise. This current report should be read in conjunction with Edison
International's 2003 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the first quarter of 2004.
Item 5. Other Events and Required FD Disclosure.
General Rate Case Decision
On July 8, 2004, the California Public Utilities Commission issued a final decision in Southern
California Edison Company's 2003 general rate case. Southern California Edison is the largest subsidiary of
Edison International. The general rate case decision authorized an annual increase of approximately $73 million
in base rates. Southern California Edison had requested an increase of about $250 million.
The decision is retroactive to May 22, 2003, when the decision initially was forecasted to be rendered.
The balance in the account established to record the recovery of the authorized rate increase since that date
will be recovered in rates over the next 12 months. To stabilize customer rates, Southern California Edison
proposed that the general rate case decision be combined with several other rate-related proceedings. Southern
California Edison estimates that the outcome of this consolidated rate decision will decrease average rates for
bundled service customers by 0.34%.
The general rate case decision approves nearly all of Southern California Edison's request to continue
its multi-billion infrastructure investment program through 2005. This program is essential to preserve current
levels of electric grid reliability. The decision also establishes revenue adjustments for 2004 and 2005 to meet
cost escalation and planned capital investments.
The decision rejects Southern California Edison's requested increase in depreciation to cover the rising
disposal costs of retired equipment, instead choosing to shift recovery of about $114 million annually to future
years. The balance of the reduction in Southern California Edison's request is primarily in the areas of
capital-related ratemaking adjustments of about $42 million, and operations and maintenance expense of about $17
million.
While Southern California Edison's case was pending before the California Public Utilities Commission,
the company identified $28 million of supplemental costs being incurred above the general rate case forecast.
The commission's final decision did not recognize these cost increases, which are primarily in the area of
transmission and distribution operations. Southern California Edison intends to review its operations to better
align its costs with the authorized revenues.
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Southern California Edison is planning to submit a notice of intent for its 2006 general rate case this
summer and then file a formal application in the fall once it has met the California Public Utilities
Commission's standard for completeness. In this upcoming application, Southern California Edison will renew its
request to establish appropriate levels of operating and depreciation expenses.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.
EDISON INTERNATIONAL
(Registrant)
/s/ KENNETH S. STEWART
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KENNETH S. STEWART
Assistant General Counsel and Assistant Secretary
July 14, 2004