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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: March 31, 1995
Date of earliest event reported: March 28, 1995
SOUTHERN CALIFORNIA EDISON COMPANY
(Exact name of registrant as specified in its charter)
CALIFORNIA 1-2313 95-1240335
(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)
818-302-1212
(Registrant's telephone number, including area code)
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Item 5. Other Events
On March 28, 1995, Southern California Edison Company
announced that it will freeze rates through 1996 for four
million customers and lower rates by 25% across the board by
the year 2000. The Company also announced a broad set of
initiatives to provide customers more pricing options, new
service guarantees and enhanced environmental quality.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibits
See Exhibit 20 -- Edison Announces Price Freeze for
Homes and Small Businesses, Sets
Five-Year 25% Price Reduction
Goal, Unveils New Price Options
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.
SOUTHERN CALIFORNIA EDISON COMPANY
W. J. Scilacci
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W. J. Scilacci
Assistant Treasurer
March 31, 1995
EXHIBIT 20
FROM SOUTHERN CALIFORNIA EDISON
For Release Tuesday, March 28
EDISON ANNOUNCES PRICE FREEZE FOR HOMES AND SMALL
BUSINESSES, SETS FIVE-YEAR 25% PRICE REDUCTION GOAL,
UNVEILS NEW PRICE OPTIONS
ROSEMEAD CA, March 28, 1995 -- Southern California Edison
today announced a broad set of initiatives to provide
customers "lower electricity prices, more pricing options, new
service guarantees and enhanced environmental quality," said
John E. Bryson, chairman and chief executive officer of the
utility. "By making us more competitive, the initiatives we
are announcing today will benefit our customers and our
shareholders."
Edison's plans include the following:
o Five-year price cut goal: a goal to reduce Edison's
system average price from 10.7 cents per kilowatt hour
today to below 10 cents by the year 2000, a reduction
of 25% after adjusting for inflation.
o Immediate price freeze for homes and small businesses:
a freeze on average prices for residential, small
business and small agricultural customers, effective
immediately, and lasting through 1996. This would
insulate those customer groups from the increases in
average prices previously announced for October of
this year.
o Guaranteed service quality: new service guarantees to
assure continued high-quality customer service, even
while electricity prices are being reduced. Edison
would pledge to continue meeting demanding standards
of performance on such matters as service connections
and restoration of power after storms or would pay
affected customers if it didn't meet those performance
standards.
o Flexible business pricing choices: new pricing options
for eligible business customers, including special
economic development pricing that will help create and
preserve jobs in Southern California.
o State-of-the-art billing options: new billing options
for customers, including summary billing,
pay-by-phone, electronic billing programs, and
customer-selected billing dates.
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EDISON, Page 2
o Environmental quality initiatives: expanded
shareholder funding of energy efficiency investments,
enhanced support for environmentally sound electric
technologies and innovative "Green Pricing" options.
"These initiatives reflect our commitment to listen to our
customers and respond to their needs," Bryson said. "The
challenges we have set out for ourselves will be difficult,
but I believe we can meet them. This will continue to require
tough decisions."
Many of the changes Edison is proposing will require
approval by the California Public Utilities Commission (CPUC)
before they can be implemented. Within 90 days, Edison will
complete the necessary regulatory filings to make these
changes possible, and will ask the CPUC to approve the plans
"on the fastest regulatory track possible to allow our
customers to realize these benefits," Bryson said. Edison's
goal is to have all these changes completed before year-end.
Edison will notify affected customers as each new program is
implemented.
In announcing these initiatives, Edison recognizes that
the CPUC will soon be announcing its proposals for reshaping
industry regulation, Bryson noted. "Some profound changes
could result. Nevertheless, we can't stand still while those
changes are being debated and implemented. We have to respond
to our customers' immediate needs. The steps we are taking
will help prepare Edison to compete effectively in whatever
new marketplace emerges."
- SCE -
