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: October 3, 1996
Date of earliest event reported: September 23, 1996
SOUTHERN CALIFORNIA EDISON COMPANY
(Exact name of registrant as specified in its charter)
CALIFORNIA 1-2313 95-1240335
(State or other jurisdiction of (Commission (I.R.S. employer
incorporation or organization) file number) identification no.)
2244 Walnut Grove Avenue
(P.O. Box 800)
Rosemead, California 91770
(Address of principal executive offices, including zip code)
818-302-1212
(Registrant's telephone number, including area code)
PAGE
Item 5. Other Events
On September 23, 1996, California Governor Pete Wilson signed Assembly
Bill 1890, providing for the restructuring of the California electric
utility industry. The legislation, building upon the California Public
Utilities Commission's (CPUC) December 20, 1995 restructuring decision,
opens electric power generation in California to competition commencing
January 1, 1998, while leaving in place the regulatory system governing
its transmission and distribution. A copy of the Governor's office press
release on the signing of the legislation is attached hereto as Exhibit
20.1, with press releases from Southern California Edison Company (Edison)
on the matter attached as Exhibits 20.2 and 20.3.
In addition, on September 20, 1996, the CPUC adopted a new mechanism
for setting electric rates for transmission and distribution called
Performance-Based Ratemaking (PBR). Under the PBR (scheduled to take
effect on January 1, 1997), adjustments to Edison's approved revenue
requirements shall be made based on various factors, including
productivity, service quality, safety, inflation, and unforeseen external
events. Resulting gains and losses are to be shared between Edison's
shareholders and customers in a prescribed manner. A copy of a press
release issued by Edison on September 23 describing the new ratemaking
method is attached hereto as Exhibit 20.4.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibits
Exhibit
Number Description
- ------- -----------
20.1 News Release -- Wilson Signs Historic Legislation Restructuring
Electic Industry
20.2 News Release -- Edison Applauds Gov. Wilson's Signing of Historic
Electricity Restructuring Bill
20.3 Investor Relations News -- Electric Utility Industry
Restructuring Bill Signed by Governor
20.4 News Release -- Edison Applauds CPUC Incentive-Based Rate
Decision
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 thereunto duly authorized.
SOUTHERN CALIFORNIA EDISON COMPANY
KENNETH S. STEWART
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KENNETH S. STEWART
ASSISTANT GENERAL COUNSEL
October 3, 1996