EXHIBIT 1


1992 SUMMARY ANNUAL REPORT FOR
EMPLOYEE STOCK OWNERSHIP PLAN (ESOP)


This is a summary of the annual report for the Southern California Edison
Company Employee Stock Ownership Plan, EIN 95-1240335-003, for January 1,
1992, through December 31, 1992.  The annual report has been filed with
the Internal Revenue Service, as required under the Employee Retirement
Income Security Act of 1974 (ERISA).

Basic Financial Statement

Benefits under the plan are provided by a trust.  Plan expenses were
$19,153,319.  These expenses included $100,000 in administrative expenses
and $19,053,319 in benefits paid to participants and beneficiaries.  A
total of 13,229 persons were participants in or beneficiaries of the plan
at the end of the plan year.

The value of plan assets, after subtracting liabilities of the plan, was
$330,591,266 as of December 31, 1992, compared to $348,827,123 as of
January 1, 1992.  During the plan year, the plan experienced a net
decrease in its assets of $18,235,857.  This net decrease includes
dividends, unrealized appreciation, plan expenses and withdrawals. 
Unrealized appreciation is the difference between the value of plan assets
at the end of the year and the price the plan originally paid for those
assets.  The plan had a total income of $917,462, including gains of
$3,084,665 from the sale of assets and losses from investments of
$2,167,203.

Minimum Funding Standards

Enough money was contributed to the plan to keep it funded in accordance
with the minimum standards of ERISA.

Your Rights to Additional Information

You have the right to receive a copy of the full annual report, or any
part thereof, on request.  The items listed below are included in that
report:

     1.   An accountant's report
     2.   Assets held for investment; and
     3.   Transactions in excess of three percent of plan assets.

To obtain a copy of the full annual report, or any part thereof, write or
all the office of the Secretary of the Employee Benefits/Health Care
Committee (The Committee is the Plan Administrator), 8631 Rush Street,
Rosemead, California 91770, (818) 302-5209.  The charge to cover copying
costs will be $2.25 for the full report, or $0.10 per page for any part
thereof.


1992 SUMMARY ANNUAL REPORT FOR
EMPLOYEE STOCK OWNERSHIP PLAN (ESOP)
Page 2


You also have the right to receive from the Plan Administrator, on request
and at no charge, a statement of the assets and liabilities of the plan
and accompanying notes or both.  If you request  a copy of the full annual
report from the Plan Administrator, these statements and accompanying
notes will be included as part of that report.  The charge to cover
copying costs given above does not include a charge for the copying of
these portions of the report because these portions are furnished without
charge.

You also have the legally protected right to examine the annual report at
the main office of the plan, 8631 Rush Street, Rosemead, California 19770,
and at the U. S. Department of Labor in Washington, D.C., or to obtain a
copy from the U. S. Department of Labor upon payment of copying costs. 
Requests to the Department should be addressed to:  Public Disclosure
Room, Pension and Welfare Benefit Administration, Department of Labor, 200
Constitution Avenue, N.W., Washington, D.C. 20210.