Edison International
Sector unknown·EIX · USA (SEC 10-K)·Fiscal year to 31/12/2025
SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California.
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Consumer spending
Macro
DriverPositive impact: strengthens
“Rising electricity demand across the U.S. economy is a primary force reshaping grid needs and investment planning. SCE projects electricity demand to nearly double between 2025 and 2045, driven by transportation electrification, new residential housing, and increases in commercial and industrial consumption.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Customer-owned generation and load departures to CCAs or Electric Service Providers each reduce the amount of electricity that customers purchase from utilities and have the effect of increasing utility rates unless customer rates are designed to allocate the costs of the distribution grid across all customers that benefit from its use. For example, some customers in California who generate their own power are not currently required to pay all transmission and distribution charges and non-bypassable charges, subject to limitations, which results in increased costs for other customers.”
Annual report 2025A · The company itself
Market
“SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California.”
Annual report 2025A · The company itself
Market
“Trio is a global energy advisory firm providing integrated sustainability and energy solutions to commercial, industrial and institutional customers.”
Annual report 2025A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
EU climate and energy policy
Regulation
DriverPositive impact: strengthens
“California has set RPS targets which require California retail sellers of electricity to provide 60% of power from renewable resources by 2030. California also requires sellers of electricity to deliver 100% of retail sales from carbon-free sources by 2045, including interim targets of 90% by 2035 and 95% by 2040.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“Emerging market uncertainties, tighter resource timelines, and rising costs have increased the complexity of long‑term clean energy planning, adding pressure to California's climate goals. Despite this, California has demonstrated strong long-term support of transportation electrification.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“In addition, Edison International is committed to achieving net-zero GHG emissions by 2045, in alignment with economy-wide climate actions planned by California. This commitment covers the power SCE delivers to customers and Edison International's enterprise-wide operations.”
Annual report 2025A · The company itself
Market
“Many other states and countries are also pursuing climate change and GHG reduction objectives, and large commercial and industrial customers are continuing to pursue cost reduction and sustainability goals. Trio is a global energy advisory firm providing integrated sustainability and energy solutions to commercial, industrial and institutional customers who may be impacted by these changes.”
Annual report 2025A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Electricity
Raw materials and inputs
InputNegative impact: weakens
“Commodity Price Risk SCE and its customers are exposed to the risk of a change in the market price of natural gas, electric power and transmission congestion. Due to regulatory mechanisms, exposure to commodity prices is not expected to impact earnings but may impact timing of cash flows.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Edison International's vision is to lead the transformation of the electric power industry and the company is focused on opportunities in delivering clean energy, advancing electrification, building a modernized and more reliable grid, and enabling customers' technology choices. SCE's ongoing focus to drive operational and service excellence is intended to allow it to achieve these objectives safely while controlling costs and customer rates.”
Annual report 2025A · The company itself
Market
“SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California.”
Annual report 2025A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
Electrification
Technology
DriverPositive impact: strengthens
“Electricity Industry Trends The electric power industry is undergoing urgent and fundamental changes in how energy infrastructure is planned and built, driven by new sources of demand, such as electric vehicles, data centers, and building electrification; technological innovations that support clean energy adoption, such as distributed generation and energy storage; and government actions to reduce GHG emissions. These factors, coupled with the increasing impacts of climate change, are altering the way in which electricity is generated and delivered.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“Customers and third parties are increasingly deploying DERs, such as solar generation, energy storage, energy efficiency and demand response technologies. California's environmental policy objectives are accelerating the pace and scope of industry change.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Edison International's vision is to lead the transformation of the electric power industry and the company is focused on opportunities in delivering clean energy, advancing electrification, building a modernized and more reliable grid, and enabling customers' technology choices. SCE's ongoing focus to drive operational and service excellence is intended to allow it to achieve these objectives safely while controlling costs and customer rates.”
Annual report 2025A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Electric vehicles and EV batteries
End markets
DriverPositive impact: strengthens
“SCE projects electricity demand to nearly double between 2025 and 2045, driven by transportation electrification, new residential housing, and increases in commercial and industrial consumption.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“SCE also continues to implement its transportation electrification programs. As of December 31, 2025, SCE had completed construction at 572 sites to support 9,761 charge ports under its suite of light-duty Charge Ready programs, and 132 sites to support the electrification of 2,859 medium and heavy-duty vehicles through its Charge Ready Transport program.”
Annual report 2025A · The company itself
SMEs
End markets
Market
“SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California.”
Annual report 2025A · The company itself
Market
“Trio is a global energy advisory firm providing integrated sustainability and energy solutions to commercial, industrial and institutional customers.”
Annual report 2025A · The company itself
Public investment and infrastructure
Regulation
StrategyPositive impact: strengthens
“2026 FERC Formula Rate Annual Update In November 2025, SCE filed its 2026 annual transmission revenue requirement update with the FERC, with rates effective January 1, 2026. The update reflects a 2026 transmission revenue requirement of $1.5 billion, which is a $157 million, or 12%, increase from the 2025 annual rates.”
Annual report 2025A · The company itself
Chains in: Reconstruction of Ukraine strengthens
Chains out: this strengthens Construction, strengthens Digitalisation, strengthens IT consulting and public-sector IT
United States
Geography
Market
“SCE is an investor-owned public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area across Southern, Central and Coastal California.”
Annual report 2025A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“SCE continues to implement its WMP to reduce the risk of SCE equipment contributing to the ignition of wildfires. Further to the investments SCE is making as part of its WMP, SCE also uses its PSPS program to proactively de-energize power lines as a last resort to mitigate the risk of significant wildfires during extreme weather events.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Yet, the potential for catastrophic wildfire activity in SCE's service area still exists. In 2025, a Continuation Account within the Wildfire Fund was established under SB 254 to supplement the Initial Account within the Wildfire Fund that was established in 2019.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Eaton Fire In January 2025, several wind-driven wildfires impacted portions of SCE's service area, causing loss of life, substantial damage to both residential and business properties, and service outages for SCE customers. One of the largest of these wildfires, the Eaton Fire, ignited in SCE's service area in Los Angeles County and spread due to a number of contributing factors under conditions of an extreme Santa Ana windstorm.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“While SCE has not conclusively determined that its equipment caused the ignition of the Eaton Fire, a viable explanation is that a de-energized idle SCE transmission facility in the preliminary area of origin was associated with the ignition of the fire and SCE is not aware of evidence pointing to another possible source of ignition. Absent additional evidence, SCE believes that it is likely that its equipment could have been associated with the ignition of the Eaton Fire and is pursuing settlement of claims through its Wildfire Recovery Compensation Program, a program designed to enable eligible individuals and businesses impacted by the Eaton Fire to seek expedited resolution of their claims.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“As of December 31, 2025, SCE had recorded $1.1 billion in losses related to these settlements. SCE also recorded expected recoveries from customer-funded self-insurance of $917 million, from the Wildfire Fund of $134 million, and through FERC electric rates of $70 million.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Through December 31, 2025, SCE has recorded estimated losses of $9.9 billion, recoveries from insurance of $2.0 billion, all of which have been collected, and expected recoveries through electric rates of $3.4 billion, $413 million of which has been collected through FERC rates subject to refund, related to the 2017/2018 Wildfire/Mudslide Events claims. The cumulative after-tax net charges to earnings recorded through December 31, 2025, have been $3.2 billion.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Regulatory Proceedings Wildfire Related Regulatory Proceedings In response to the increase in wildfire activity and faster progression of and increase in damage from wildfires across SCE's service area and throughout California, SCE has incurred wildfire mitigation and wildfire and drought restoration related spending at levels exceeding amounts authorized in SCE's GRCs.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For example, SCE has incurred, and expects to further incur, wildfire mitigation expenses before it is clear whether such costs will be recoverable from customers. Also, the CPUC may deny recovery of costs incurred by SCE, including uninsured wildfire-related costs, if the CPUC determines that SCE was not prudent.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Operating Risks Damage claims against SCE for wildfire-related losses may materially affect SCE's financial condition and results of operations. Prolonged drought conditions and shifting weather patterns in California resulting from climate change as well as, among other things, buildup of dry vegetation in areas severely impacted by years of historic drought and lack of adequate clearing of hazardous fuels by responsible parties have increased the duration of the wildfire season and the risk of severe wildfire events.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Edison International's and SCE's costs of accessing capital markets have increased due to the risks associated with wildfires in Southern California. Edison International's and SCE's access to the bank and capital markets could also be constrained and/or the costs of accessing those markets could increase further as a result of wildfire risk, including if Edison International's and/or SCE's credit ratings are downgraded or placed on negative watch due to concerns about Edison International and/or SCE's financial health as a result of wildfires.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Climate change exacerbated weather-related incidents and other natural disasters have and could continue to materially affect SCE's financial condition and results of operations. Weather-related incidents, including storms and events caused, or exacerbated, by climate change, such as wildfires, flooding and debris flows, and other natural disasters such as earthquakes can disrupt the generation and transmission of electricity, and can seriously damage the infrastructure necessary to deliver power to SCE's customers.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Climate change has caused, and exacerbated, extreme weather events and wildfires in southern California, and wildfires could cause, among other things, public safety issues, property damage and operational issues. In addition, the risk of flooding and debris flows occurring as a result of rain may be heightened.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Extreme heat events have and can continue to lead to prolonged widespread outages due to, among other things, state-wide capacity supply shortages or equipment failure. Extreme weather events can also lead to use of PSPS.”
Annual report 2025A · The company itself
Chains out: this weakens Agriculture and food production
Interest rates
Macro
DriverNegative impact: weakens
“SCE may finance balancing account undercollections and working capital requirements to support operations and capital expenditures with commercial paper, its credit facilities or other borrowings, subject to availability in the bank and capital markets and within levels authorized by the CPUC. As necessary, SCE will utilize its available liquidity, capital market financings, other borrowings or parent company equity contributions to SCE in order to meet its obligations as they become due, including costs related to the wildfire events.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“MARKET RISK EXPOSURES Edison International's and SCE's primary market risks include fluctuations in interest rates, commodity prices and volumes, investment prices, and counterparty credit. Interest Rate Risk Edison International and SCE are exposed to changes in interest rates primarily as a result of financing, investing and borrowing activities used for liquidity purposes, and to fund business operations and capital investments.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“However, S&P downgraded SCE's long-term issuer credit rating.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE also has approximately $2.3 billion available to borrow on its $3.4 billion revolving credit facility. The credit facility is available for borrowing needs until May 2029.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“RISKS RELATING TO SOUTHERN CALIFORNIA EDISON COMPANY Regulatory and Legislative Risks SCE's financial results depend upon its ability to recover its costs and to earn a reasonable rate of return on capital investments in a timely manner from its customers through regulated rates. SCE's ongoing financial results depend on its ability to recover its costs from its customers, including the costs of electricity purchased for its customers, through the rates it charges its customers as approved by the CPUC and FERC. SCE's financial results also depend on its ability to earn a reasonable return on capital, including long-term debt and equity.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE's CPUC-authorized cost of capital is subject to potential adjustment should interest rates move substantially in years between cost of capital proceedings.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Financing Risks As a capital-intensive company, SCE relies on access to the bank and capital markets. If SCE were unable to access these markets or the cost of financing were to substantially increase, its liquidity and operations could be materially affected.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE's ability to obtain financing, as well as its ability to refinance debt and make scheduled payments of principal and interest, are dependent on numerous factors, including SCE's levels of indebtedness, maintenance of acceptable credit ratings, financial performance, liquidity and cash flow, increases in interest rates and credit spreads due to inflationary pressures, and other market conditions.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Edison International and SCE could be materially and adversely impacted by catastrophic, macroeconomic and geopolitical events, such as the effects of increased inflationary pressures and interest rates, potential economic downturns or recessions, geopolitical pressures, and pandemics and regional health emergencies.”
Annual report 2025A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Inflation
Macro
DriverNegative impact: weakens
“SCE expects its bundled system average rate will rise at a compound annual growth rate equal to or below inflation through 2030.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“RISKS RELATING TO SOUTHERN CALIFORNIA EDISON COMPANY Regulatory and Legislative Risks SCE's financial results depend upon its ability to recover its costs and to earn a reasonable rate of return on capital investments in a timely manner from its customers through regulated rates. SCE's ongoing financial results depend on its ability to recover its costs from its customers, including the costs of electricity purchased for its customers, through the rates it charges its customers as approved by the CPUC and FERC. SCE's financial results also depend on its ability to earn a reasonable return on capital, including long-term debt and equity.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE's capital investment plan, increasing procurement of renewable power and energy storage, inflation, commodity price volatility, increasing self-generation, load departures to CCAs or Electric Service Providers, and increasing environmental regulations, among other things, collectively place continuing upward pressure on customer rates.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE's ability to obtain financing, as well as its ability to refinance debt and make scheduled payments of principal and interest, are dependent on numerous factors, including SCE's levels of indebtedness, maintenance of acceptable credit ratings, financial performance, liquidity and cash flow, increases in interest rates and credit spreads due to inflationary pressures, and other market conditions.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Edison International and SCE could be materially and adversely impacted by catastrophic, macroeconomic and geopolitical events, such as the effects of increased inflationary pressures and interest rates, potential economic downturns or recessions, geopolitical pressures, and pandemics and regional health emergencies.”
Annual report 2025A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Natural gas
Raw materials and inputs
DriverMixed impact: mixed
“MARKET RISK EXPOSURES Edison International's and SCE's primary market risks include fluctuations in interest rates, commodity prices and volumes, investment prices, and counterparty credit. Interest Rate Risk Edison International and SCE are exposed to changes in interest rates primarily as a result of financing, investing and borrowing activities used for liquidity purposes, and to fund business operations and capital investments.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE may not be able to hedge its risk for commodities on economic terms or fully recover the costs of hedges through the rates it is allowed to charge its customers, which could materially affect SCE's liquidity and results of operations, see "Market Risk Exposures" in the MD&A.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Additionally, reducing emissions to near zero in the electric sector relies on developing clean firm resources to replace natural gas. Clean firm resources, such as next-generation geothermal, small modular nuclear reactors, natural gas with carbon capture and storage, and clean hydrogen, produce constant power through any weather condition or season with little or no greenhouse gas emissions.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Commodity Price Risk SCE and its customers are exposed to the risk of a change in the market price of natural gas, electric power and transmission congestion. Due to regulatory mechanisms, exposure to commodity prices is not expected to impact earnings but may impact timing of cash flows.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Table of Contents SCE's energy procurement activities are subject to regulatory and market risks, including availability, that could materially affect its financial condition and liquidity. SCE obtains energy, capacity, environmental credits and ancillary services needed to serve its customers from its own generating plants and through contracts with energy producers and sellers. California law and CPUC decisions allow SCE to recover, through the rates it is allowed to charge its customers, reasonable procurement costs incurred in compliance with an approved procurement plan. Nonetheless, SCE's cash flows remain subject to volatility primarily resulting from changes in commodity prices, including as a result of gas supply constraints.”
Annual report 2025A · The company itself
Business cycle and GDP growth
Macro
DriverPositive impact: strengthens
“Rising electricity demand across the U.S. economy is a primary force reshaping grid needs and investment planning. SCE projects electricity demand to nearly double between 2025 and 2045, driven by transportation electrification, new residential housing, and increases in commercial and industrial consumption.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE's ability to recover its costs and earn a reasonable rate of return can be affected by many factors, including the time lag between when costs are incurred and when those costs are recovered in customers' rates and differences between the forecast or authorized costs embedded in rates (which are set on a prospective basis) and the amount of actual costs incurred.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“SCE's capital investment plan, increasing procurement of renewable power and energy storage, inflation, commodity price volatility, increasing self-generation, load departures to CCAs or Electric Service Providers, and increasing environmental regulations, among other things, collectively place continuing upward pressure on customer rates.”
Annual report 2025A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“Yet, the potential for catastrophic wildfire activity in SCE's service area still exists. In 2025, a Continuation Account within the Wildfire Fund was established under SB 254 to supplement the Initial Account within the Wildfire Fund that was established in 2019.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Edison International and SCE could be materially and adversely impacted by catastrophic, macroeconomic and geopolitical events, such as the effects of increased inflationary pressures and interest rates, potential economic downturns or recessions, geopolitical pressures, and pandemics and regional health emergencies.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Additionally, the geopolitical developments involving the Russia-Ukraine conflict, China and the Middle East, could cause delays and disruptions in the supply chain and the availability and timely delivery of services, materials and components used in SCE’s operations.”
Annual report 2025A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Labour and wages
Raw materials and inputs
InputNegative impact: weakens
“Forecast expenditures for FERC capital projects are subject to change due to factors such as timeliness of permitting, licensing, regulatory approvals, contractor bids, supply chain issues, and other operational considerations. Based on management's judgment of potential capital spending variability informed by historical precedent of previously authorized amounts, potential permitting delays, and other operational considerations, a range case was prepared reflecting reductions to CPUC non-GRC capital expenditures and FERC capital expenditures.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Constrained labor market in California and nationally and SCE's relations with its unionized workforce also impact SCE's ability to maintain its workforce. For example, the increased electrification efforts in California and nationally have led to greater competition for certain skilled workers.”
Annual report 2025A · The company itself
Equity and capital markets
Macro
DriverNegative impact: weakens
“SCE may finance balancing account undercollections and working capital requirements to support operations and capital expenditures with commercial paper, its credit facilities or other borrowings, subject to availability in the bank and capital markets and within levels authorized by the CPUC. As necessary, SCE will utilize its available liquidity, capital market financings, other borrowings or parent company equity contributions to SCE in order to meet its obligations as they become due, including costs related to the wildfire events.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Margin and Collateral Deposits Certain derivative instruments, power and energy procurement contracts, and other contractual arrangements contain collateral requirements. Future collateral requirements may differ from the requirements at December 31, 2025 due to the addition of incremental power and energy procurement contracts with collateral requirements, if any, the impact of changes in wholesale power and natural gas prices on SCE's contractual obligations, and the impact of SCE's credit ratings falling below investment grade.”
Annual report 2025A · The company itself
Artificial intelligence
Technology
DriverPositive impact: strengthens
“Electricity Industry Trends The electric power industry is undergoing urgent and fundamental changes in how energy infrastructure is planned and built, driven by new sources of demand, such as electric vehicles, data centers, and building electrification; technological innovations that support clean energy adoption, such as distributed generation and energy storage; and government actions to reduce GHG emissions. These factors, coupled with the increasing impacts of climate change, are altering the way in which electricity is generated and delivered.”
Annual report 2025A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Batteries and energy storage
Technology
DriverNegative impact: weakens
“For example, utility owned storage facilities utilize lithium-ion battery technology that in certain circumstances can and have caused a thermal event that can ignite nearby materials, including other lithium-ion cells particularly when deployed in indoor facilities. SCE's financial condition and results of operations could be materially affected if it is unable to successfully manage these risks as well as the risks inherent in constructing, operating, and maintaining its facilities, the operation of which can be hazardous and important for system reliability.”
Annual report 2025A · The company itself
Carbon tax and ETS prices
Regulation
DriverNegative impact: weakens
“Reflected below is SCE's weighted average annual rate base for 2025 – 2030, based on the capital expenditure forecasts discussed above. In addition, the table below does not reflect the SB 254 Excluded Capital Expenditures, which SCE plans to recover through the issuance of securitized bonds.”
Annual report 2025A · The company itself
Chains out: this weakens Shipping and logistics, strengthens Energy efficiency, weakens Cement and building materials
Cement and building materials
Raw materials and inputs
InputNegative impact: weakens
“Capital Program Capital Expenditures Total capital expenditures (including accruals) were $6.7 billion in 2025 and $5.7 billion in 2024. SCE's capital expenditure forecast has been updated to reflect planned CPUC-jurisdictional spending as informed by the 2025 GRC final decision and expected FERC capital expenditures.”
Annual report 2025A · The company itself
Chains in: Carbon tax and ETS prices weakens, Reconstruction of Ukraine strengthens
Construction
End markets
InputNegative impact: weakens
“Capital Program Capital Expenditures Total capital expenditures (including accruals) were $6.7 billion in 2025 and $5.7 billion in 2024. SCE's capital expenditure forecast has been updated to reflect planned CPUC-jurisdictional spending as informed by the 2025 GRC final decision and expected FERC capital expenditures.”
Annual report 2025A · The company itself
Chains in: Interest rates weakens, Housing market strengthens, Public investment and infrastructure strengthens, Business cycle and GDP growth strengthens, Reconstruction of Ukraine strengthens
Data centres
Technology
DriverPositive impact: strengthens
“Electricity Industry Trends The electric power industry is undergoing urgent and fundamental changes in how energy infrastructure is planned and built, driven by new sources of demand, such as electric vehicles, data centers, and building electrification; technological innovations that support clean energy adoption, such as distributed generation and energy storage; and government actions to reduce GHG emissions. These factors, coupled with the increasing impacts of climate change, are altering the way in which electricity is generated and delivered.”
Annual report 2025A · The company itself
Chains in: Artificial intelligence strengthens
Chains out: this strengthens Electricity, strengthens Copper
Oil
Raw materials and inputs
DriverMixed impact: mixed
“MARKET RISK EXPOSURES Edison International's and SCE's primary market risks include fluctuations in interest rates, commodity prices and volumes, investment prices, and counterparty credit. Interest Rate Risk Edison International and SCE are exposed to changes in interest rates primarily as a result of financing, investing and borrowing activities used for liquidity purposes, and to fund business operations and capital investments.”
Annual report 2025A · The company itself
Chains out: this strengthens Plastics and polymers
Denmark
Geography
Geography
“Edison International's and SCE's business activities are concentrated in one industry and in one region. Substantially all of Edison International's and all of SCE's business activities are concentrated in the electric utility industry. Edison International's principal subsidiary, SCE, serves customers only in southern and central California.”
Annual report 2025A · The company itself
Subcontractors and haulage capacity
Raw materials and inputs
InputNegative impact: weakens
“Forecast expenditures for FERC capital projects are subject to change due to factors such as timeliness of permitting, licensing, regulatory approvals, contractor bids, supply chain issues, and other operational considerations. Based on management's judgment of potential capital spending variability informed by historical precedent of previously authorized amounts, potential permitting delays, and other operational considerations, a range case was prepared reflecting reductions to CPUC non-GRC capital expenditures and FERC capital expenditures.”
Annual report 2025A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 19.32 bn USD |
| Revenue growth vs. the year before, same method | 9.8 % |
| EBITDA reported by the company | 10.33 bn USD |
| Net debt debt incl. leasing minus cash | 39 bn USD |
| Diluted EPS per share | 11.55 USD |
Source: 10-K (SEC) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | ✗ |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (USD), not converted to DKK. Quotes are shown as the company's own words in English.