Maria C. Rigatti
and to Thank you, afternoon, period comments compared the financial cover quarter a third everyone. results updates same and EIX for XXXX the year other ago My SCE. Pedro. Good will today
of authorized communicated base will from decision Also General Rate SCE recognize we the consistent purposes. you are XXXX the have the isolated key As the focus at XXXX known prior on statutory cost Reform. so quarters, rate CPUC requirements will for we of we underlying Tax effects the decision that with receive capital combined XXXX of revenues Reform prior financial reserves revenue tax and be before, based Case, activity XX% largely a of for including to to we our the items business. approximately Tax both analysis comparability operational XXXX until providing with and largely driver on we on Therefore, for taken continue can and drivers
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wildfire last insurance in insurance. is are amounts. the insurance application for related $XX GRC XXXX, the the for Overall, we XXXX In date Year the Approximately SCE insurance following for Test million. cumulative expenses we expenses As third forecasted wildfire for period Year. exceeded liability for discussed million to have premiums its XXXX quarter, the of our approximately XX% wildfire for $XXX quarter, Test obtained
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any be expect a decision period a can receive true-up We decision. is requirement voted decision review a there XX-day to issued, is when regulatory out. report Once proposed proposed and before for comment a final we
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SCE on and memo will account As Please a be you our expenditures for aggregate track the to turn capital basis. In know, an costs total, quarter X. we established to page remained unchanged have to retroactive XXXX. January decision X, the
XXXX XXXX with to GRC plan request aligned the while plans. to note reminder, level, spending items CPUC capital capital jurisdictional related a As are execution There our work year. XXXX capital this our and at remain expenditures expenditures for two our
discussed as the vehicle and $XXX medium- we capital. which received transportation we final million of electrification approving previously, First, a heavy-duty program, million in decision $XXX May is
capital incorporated $XX of and now spending $XXX our falls expenditures forecast. majority program's spend period; XXXX. have is profile. approximately our associated electrification base near-term spending increase to million We through an outside transportation there of that into The the forecast of cumulative these most however, approximately are million spending rate adjustments Offsetting FERC of our
the forecasts, the decision During final and the details proposed on System proceeding to and to Project. the the load quarter, possible we SCE a on supplemental information and This project, holds alternatives of decision submit including received open demand project. Alberhill directs
flexibility. area needed continue to increase project We proposed the to is local to believe forecasted and serve demand reliability operating as and
proposed forecast recently is and outside Ready million million Given and System forecast II $XXX approximately capital the ongoing million include Grid application of proposed in Project capital are capital analysis, not is the our application our Alberhill which on spending Other spending. we $XXX have which million our $XXX $XXX the approximately Safety Resiliency period. projects of that deferred Charge spending
XXXX you'll financial same X, CPUC changes. We capital the related the work On page page continue spending largely to slight two assumptions our will program, by and the heavy-duty vehicle when except On rate our remained education forecast on for for offset electrification with see update XXXX medium- to proposed increase from expect in the our as a transportation has X, a and XXXX. to get we in increase FERC these full decision we on proceedings GRC. necessary. forecast update Last, the base
items as should few on key consider a out you you beyond. XXXX laid that model page this and have We
As slide expect insurance to information share $X.XX a regulatory we expenses, information per on has more of do the page we be reminder, the tax remained this this statutory our although quarter. our the approximately since for unchanged to incremental wildfire deferral rate provide XX%. regarding reflects last provide new of continue year. combined We detail on Most
regulatory delay longer awarded in and to guidance. expect of quarter we financial XXXX on process. in Additionally, will EPS to first to efficiency component the equity incentives as due We in XXXX the incentives expect At we our you want a the approval no XXXX be energy to receive update issue of our further comments other topics. common was few provide additional September I average total capitalization when SCE, a XX, now XX%.
the to a a file, This effective, corresponds calculation standard to the the third from the the and of XX-month average reflects quarter I a equity cost SCE of allocations. The common XX% capital change basis. this to structure XX-month period SCE's made XXXX, between component During capital weighted noted of of moving CPUC change.
maintain balance at company We strong both continue a the sheet SCE. to and holding
both as the while uncertainty to and Rate capital await liability around obtain also long-term of flexibility the we and programs We and to entities decision through Case continue consider requested such Ready we these XXXX debt General recovery, have cost options short- evaluate Charge other the as wildfire work II.
continue other markets required operational and base rate issue. capital address operational while needs, growth legislative, the manage effectively the We to to to our California fund regulatory, wildfire we through solutions the and legal, also access
and customers. relative increased costs further and wildfires Moody's credit the costs than will have be quarter, the we remarks. during prior to impacted my concludes remain However, third downgrades to likely XXXX which borrowing That experienced by by higher our Fitch means
