One of the Golden State's largest utilities, Southern California Edison (SCE) distributes power to a population of more than 14 million people (4.9 million customer accounts) in central, coastal, and southern California (excluding Los Angeles and some other cities). SCE has 6,287 MW of net generating capacity from stakes in nuclear, hydroelectric, and fossil-fueled power plants (although it has sold a number of its fossil-fueled facilities in response to the state's deregulation legislation). The utility sells excess power to wholesale customers. SCE is a unit of utility and competitive power holding company Edison International.
SCE supplies and delivers electricity to a 50,000 square-mile area of southern California. This service area contains a population of nearly 14 million people and SCE serves the population via about 4.9 million customer accounts.
The utility's system consists of about 12,782 circuit miles of transmission lines and more than 91,000 circuit miles of overhead and underground distribution lines, and more than 800 distribution substations.
SCE's net revenues decreased by 14% in 2015 due to lower sales from utility cost-recovery activities, including a drop in CPUC-related (California Public Utilities Commission) revenues.
The company's net income decreased by 29% due to lower revenues and higher expenses related to depreciation, decommissioning, and amortization.
Operating cash flows for 2015 increased by 26% due to changes in working capital as a result of changes in regulatory assets and liabilities, including the collections of balancing accounts.
Parent Edison International has been addressing the changing industry environment by focusing SCE on investing in and strengthening its electric grid and driving operational and service excellence to improve system safety, reliability and service while controlling costs and rates. At the same time, Edison International is investing in competitive businesses to meet the electricity needs of commercial and industrial customers both inside and beyond SCE's service area.
In recent years the utility has been ramping up its green energy options in order to comply with the state of California's aggressive long term renewable energy goal .In 2014, the company signed contracts with solar and geothermal energy producers representing more than 1,500 MW of clean, renewable power, and the re-contracting of 225 MW with an existing California geothermal energy project.
As part of its strategy to reduce its fossil-fuel power plant holdings, in 2013 SCE sold its ownership interest in Units 4 and 5 of the Four Corners Generating Station, a coal-fired electric generating facility in New Mexico, to the operator of the facility, Arizona Public Service Company for $181 million.
SCE also offers power contract options designed to help smaller biomass generators and is installing up to 150 solar photovoltaic installations on Southern California commercial rooftops. The utility is also installing smart electric meters -- digital, two-way communication devices which allow customers and the utility to better manage energy use than the older mechanical meters can.