EXHIBIT 1


1992 SUMMARY ANNUAL REPORT FOR
STOCK SAVINGS PLUS PLAN (SSPP)


This is a summary of the annual report for the Southern California Edison
Company Stock Savings Plus Plan, EIN 95-1240335-002, 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 and insurance.  Plan
expenses were $66,763,640.  These expenses included $66,713,491 in
benefits paid to participants and beneficiaries, and $50,149 in other
expenses.  A total of 16,921 persons were participants in or beneficiaries
of the plan at the end of the plan year, although not all of these persons
had yet earned the right to receive benefits.

The value of plan assets, after subtracting liabilities of the plan, was
$1,033,816,713 as of December 31, 1992, compared to $1,006,621,371 as of
January 1, 1992.  During the plan year, the plan experienced an increase
in its net assets of $27,195,342.  This increase includes unrealized
appreciation in the value of the plan's assets at the end of the year and
the price the plan originally paid for these assets.  The plan had a total
income of $93,745,461 including employer contributions of $19,615,568,
employee contributions of $56,629,814, gains of $8,218,027 from the sale
of assets and earnings from investments of $9,282,052.

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
STOCK SAVINGS PLUS PLAN (SSPP)
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.