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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 22, 1995
Date of earliest event reported: November 21, 1995
SCEcorp
(Exact name of registrant as specified in its charter)
CALIFORNIA 1-9936 95-4137452
(State or other jurisdiction of(Commission (I.R.S. employer
incorporation or organization) file number) identification no.)
2244 Walnut Grove Avenue
(P.O. Box 800)
Rosemead, California 91770
(Address of principal executive offices, including zip code)
818-302-2222
(Registrant's telephone number, including area code)
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Item 5. Other Events
Alternate Proposed General Rate Case Decision
On November 21, 1995, California Public Utilities
Commission (CPUC) President Daniel Fessler issued an alternate
proposed decision on Southern California Edison's (Edison)
1995 General Rate Case. The proposed decision would reduce
operating revenues to Edison by approximately $120 million in
1996, including reduced operating and maintenance funds and a
reduced rate of return on San Onofre, compared to the $67
million reduction specified in a settlement between Edison,
San Diego Gas & Electric Company and the Division of Ratepayer
Advocates reached in November 1994.
The alternate order is a proposal and may be accepted,
rejected or modified by the CPUC. Comments on the proposed
decision are due by November 29 and a formal CPUC decision is
currently anticipated on December 6. A copy of a press
release issued by Edison on November 22 concerning the
alternate proposed decision is filed herewith as Exhibit 20.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibits
Exhibit
Number Description
- ------- -----------
20 News Release -- Edison Hits Alternate Proposed
Decision for 1995 General Rate Case
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SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
SCEcorp
W. J. SCILACCI
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W. J. SCILACCI
ASSISTANT TREASURER
November 22, 1995
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EXHIBIT 20
FOR IMMEDIATE RELEASE
Contact:
Tom Higgins
(818) 302-2255
EDISON HITS ALTERNATE PROPOSED
DECISION FOR 1995 GENERAL RATE CASE
ROSEMEAD, Calif., Nov. 21, 1995 -- Southern California Edison today
reacted strongly to an alternate proposed decision on its 1995 General
Rate Case issued by California Public Utilities Commission (CPUC)
President Daniel Fessler. The alternate proposed decision would
substantially change, in a way adverse to Edison, a settlement negotiated
with the CPUC's Division of Ratepayer Advocates (DRA) last November.
"We made difficult and substantial concessions in our negotiations with
the CPUC's consumer advocate staff," said Bryson. "We entered into
negotiations with the strong encouragement of the CPUC, and reached the
agreement only after weeks of intense negotiation. To take that proposed
settlement now and selectively alter key elements, in each case against
Edison's interests, undermines the basic principles upon which negotiated
settlements depend."
According to Edison, the proposed alternate decision also undermines
basic tenets of the Memorandum of Understanding recently entered into by
Edison, customer representatives and independent power producers. The MOU
proposes a course for the restructuring of the electric utility industry,
including the treatment of San Onofre, the nuclear facility operated by
Edison.
"In the coming days, we will make every effort to persuade the
commission it should support the general rate case settlement previously
negotiated," Bryson said.
Compared to the settlement, the proposed alternate decision would
reduce operating revenues to the company by approximately $120 million in
1996, including reduced operating and maintenance funds and a reduced rate
of return on San Onofre. The alternate order is a proposal and may be
accepted, rejected or modified by the commission. Comments on the
proposed decision are due by Nov. 29, and a final CPUC decision is
currently anticipated on Dec. 6.
--SCE--
