Edison International has been around the world, but its largest subsidiary is Southern California Edison (SCE), which distributes electricity to a population of almost 14 million people in central, coastal, and southern California; it is also the top purchaser of renewable energy in the US. The utility's system consists of about 12,000 circuit miles of transmission lines and more than 103,500 circuit miles of distribution lines. SCE also has 5,574 MW of generating capacity from interests in nuclear, hydroelectric, and fossil-fueled power plants. Through Edison Mission Group's Edison Mission Energy unit Edison owns, leases, operates and sells energy and capacity (10,780 MW) from power generation facilities.
Southern California Edison (SCE) is a regulated electric utility serving Southern California. After having sold plants in Asia and Europe Edison Mission Energy markets energy in the US and Turkey. The company has interests in more than 40 power plants in the US and one in Turkey (the Doga project) that give it a net physical generating capacity of about 10,780 MW.
Through its subsidiaries, Edison International generates and distributes electric power and invests in infrastructure and energy assets, including renewable energy projects.
In 2011 rate increases and solid cost-recovery income by SCE helped to lift Edison International's overall revenues by 3%, after two years of almost flat revenue growth, and despite a weak wholesale market which resulted in weaker competitive energy sales. However, net income dropped by more than 98% in 2011 due to higher purchased power prices, increased depreciation, decommissioning, and amortization expenses, and a jump in asset impairment costs.
Edison International's strategy is to focus on the financially more secure US power market, balancing revenues from its regulated utility with higher-margin returns from its competitive power generation business. Edison also provides consulting, management, and maintenance services for energy projects. It is investing in upgrading its traditional power infrastructure and expanding its portfolio of solar and wind energy projects to make the company compliant with increasingly stringent state and federal carbon emission requirements. In 2011 SCE had the capacity to deliver 3,720 MW of power from renewable sources, although in late 2011 it reduced its development pipeline of potential wind projects to 1,300 MW in order conserve cash.
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