ROSEMEAD, Calif.–(BUSINESS WIRE)–Following a 2-percent decrease in November, an average Southern
California Edison customer’s bill will go down another 6 percent in
Public Utilities Commission today approved SCE’s
2016 costs for energy sources the utility needs to supply
electricity, which is the main factor in January’s rate decrease. These
costs are approved annually. SCE generates about 20 percent of its own
power and buys the rest through contracts and short-term markets.
“Southern California Edison is working hard to keep rates reasonable for
our customers,” SCE President Pedro Pizarro said. “With lower prices
forecast over the coming months for energy sources that provide
electricity, we’re able to reduce customer bills.”
Part of the January reduction is the implementation of a settlement
with Nuclear Electric Insurance Limited for the San Onofre outages
caused by the failures of replacement steam generators. SCE’s customers’
share of the settlement is $312.8 million.
SCE’s residential customers will benefit next year through increases in
the twice yearly climate credits on their April and October bills —
those credits are increasing from $29 twice a year to $38 twice a year.
In late November, an average customer’s bill decreased about 2 percent
because of the commission’s Oct. 22 approval of the 2015
costs for energy sources.
Another rate change taking effect on Jan. 1 is the commission’s decision
authorizing recovery of costs reviewed in SCE’s General
Rate Case, which includes inspecting, repairing and replacing
infrastructure that will make it easier to restore power after an
emergency outage in the future. It also funds the people SCE employs,
such as the workers who climb the poles to restore electric service in
storms and answer customer service calls.
Every three years, the
commission reviews a request from SCE for the next three-year
The General Rate Case makes up more than 40 percent of rates for the
nearly 14 million people SCE serves. About half of customer rates comes
from the cost of energy sources for power. The remaining portion comes
from a variety of other factors, such as large transmission projects
regulated by the Federal
Energy Regulatory Commission and programs for energy efficiency and
to protect low-income customers.
About Southern California Edison
An Edison International (NYSE:EIX) company, Southern California Edison
is one of the nation’s largest electric utilities, serving a population
of nearly 14 million via 5 million customer accounts in a
50,000-square-mile service area within Central, Coastal and Southern
Lauren Bartlett, 626-302-2255