Slide 1: Second Quarter 2011 Financial Teleconference
Exhibit 99.2 Leading4, Second August EDISON Quarter the INTERNATIONAL® 2011 Way2011 in Electricity Financial SM Teleconference
Slide 2: Forward-Looking Statements
Leading Forward-Looking Statements historical, current circumstances. Form factual August 1E DISON 10-Q data expectations. 4,the INTERNATIONAL® 2011 are contained and contained Way forward-looking Important other inStatements Electricity These reports in inthis this factors forward-looking presentat
Slide 3: Second Quarter Earnings Summary
Leading Second Non-Core SCE EMG EIX Total Core $205 GAAP ($ Basic $344 $176 1Q2 quarter August 2EDISON See millions) 10 parent $0.75 $0.17 EPS1 EPS Earnings $0.62 $1.05 $0.54 Non-Core Earnings EPS (0.10) 0.18 Q2 Earnings ended 4, Quarter the INTERNATIONAL® 2011 $0.62 11 Items — $0.65 company $177 W
Slide 4: SCE Second Quarter EPS
Leading SCE EPS Core1 Non-Core Basic Key Rate Operating Higher Income Change 21•Recent August 3EDISON FERC In See Global July Core Q2 base Second Use EPS1 $0.75 Developments operating O&M net 4, taxes of accepted 10 the 2011, tax INTERNATIONAL® growth Earnings 2011 revenue Items2 of tax interest Q2
Slide 5: EMG Second Quarter EPS
Leading EMG EPS Core1 Non-Core Basic Key Merchant Midwest Homer Doga 321•Recent August 4EDISON Walnut Final Community Pinnacle SeeCore Global Includes Q2 distribution Use EPS1 Second $(0.10) Cross Developments City 4,10 the Creek tax Generation INTERNATIONAL® coal3 Earnings 2011 Items2 of (WV) impac
Slide 6: Year-to-Date Earnings Summary
Leading Year-to-Date Non-Core SCE EMG EIX Total Core $1.44 $473 GAAP ($ Basic $580 $376 1YTD ended August 5EDISON See millions) parent $1.38 $0.05 EPS1 Earnings EPS $1.77 $1.15 Non-Core 10 Earnings EPS 0.12 0.20 $379 June Earnings 4,YTD the INTERNATIONAL® 2011 $1.44 Items (0.15) (0.01) $1.33 compan
Slide 7: SCE Year-to-Date EPS
Leading SCE EPS Core1 Non-Core Basic Key Rate Operating Higher 21Income August 6E DISON SeeCore Global YTD Year-to-Date base Use EPS1 $1.38 operating O&M 4, taxes the tax INTERNATIONAL® growth Earnings 2011 10 revenue Items2 of$1.43 Way settlement $1.33 Non-GAAP YTD and (0.04) in revenue 0.05 other
Slide 8: EMG Year-to-Date EPS
Leading EMG EPS Core1 Non-Core Basic Key Merchant Midwest 2010 321Higher August 7EDISON SeeCore Global Includes YTD March Year-to-Date Use EPS1 $0.12 net 4,the tax Generation INTERNATIONAL® coal3 Earnings 2011 10 Items2 of impact interest $0.32 Way Point settlement. $(0.15) Non-GAAP YTDin0.20 of $(0
Slide 9: EMG Installed Capacity
Leading EMG Installed Capacity Price MW July June Midwest 321Homer 54capacity August 8EDISON Capacity Other Excludes Includes 1, MW 30, 1, per Coal 2011 City4 2012 2013 2014 4, capacity the transactions 2011 Unsold Generation Average Capacity1 INTERNATIONAL® MW 2011 the not Fleet renewable 175 Way t
Slide 10: EMG Hedge Status
Leading EMG June Change Remainder Midwest 2013 2012 Q1 2011 1,020 2,448 7,798 (772) 6,892 $39.11 $2.13 $37.38 $0.92 $38.70 Homer 1.9 11.7 (3.5) 8.9 Total Average 204 (30) 1,340 807 2,002 Coal $51.85 $(0.02) $51.66 $(2.52) 1$56.34 — 0.8 0.3 2.2 (0.8) 22.7 summer 43West 65not August 9EDISON The Net In
Slide 11: EMG Recent Development Activities
Leading EMG June Recent Portfolio 1,677 479 Thermal: Project Wind: •Wind August EDISON 10 Walnut Taloga Pinnacle Community 940 921 479 80 MW MW 30, MW Turbine Development MWActivities Debt 4,the (130 2011 Creek & under available INTERNATIONAL® 2011 (55 not financed in Development Way service Wind MW
Slide 12: Renewable Energy Funding
Leading Electricity Funding June ($ = $214 ($50) $275 $225 $279 $290 $173 $533 $117 Term $360 •$125 12/31/10 2011 YTD Remaining 1Sources 2in 3and portion August EDISON 11 Viento—$77 Other—$48 $50 $495 Estimate Thermal Wind turbine millions) $43 30, Spending $102 $173 million 2011 Loans2 million mill
Slide 13: EMG Capital Expenditures
Leading EMG June ($ 2010 Midwest Homer Plant Environmental Walnut Renewable Capital Turbine Other 1Total August EDISON 12Includes millions) 30, 20111 $736 capital Capital capital City Creek & 4,commitments the 2011 Generation INTERNATIONAL® 2011 construction actual $683 Energy 2012 Way expenditures
Slide 14: Maximizing Value of EMG
Leading Maximizing ??Midwest ??Homer ??Credit ??Unsecured ??Seeking •??Constructing ??2014 August EDISON 13 Address Finalize Continue Need recovery –4,the Facilities: 15 City: INTERNATIONAL® durable upcoming 2011 external generation Generation: Way RPM EMG Notes: under 479 of insolution auction Opti
Slide 15: 2011 Earnings Guidance
Leading 2011 Earnings as Low Non-core Actual/Midpoint by SCE EMG EIX Total Southern Assumptions ?48% Edison 1•Other August EDISON 14 Average Approved Forward EMMT Normal No Excludes See of key core basic parent energy changes Mid $3.08 5/2/11 Earnings 2011 non-core $2.75 Use –(no (0.19) equity, busi
Slide 16: Appendix
Leading4,the August Appendix EDISON 15 INTERNATIONAL® 2011 Way in Electricity SM
Slide 17: Updates since last presentation
Leading •Updates August EDISON 16 Q2 11Transmission Funding SCE EMG 2012 Cost Key Coal Hedge Development Capital 2006 4, results the Since INTERNATIONAL® 2011 for Regulatory of CPUC Way Fleet Illinois 2011 Capital Program Our and Expenditures inCapacity General Last Development standard Electricity
Slide 18: Delivering Our Strategy
Leading Delivering Southern •Edison ??Implement ??Manage ??Continue Our August EDISON 17 Diversified Celebrating Positioned Balancing Strategic Pursuing Decoupled 10,000 Unlocking keyMission International 4,operating the MW California INTERNATIONAL® 2011 liquidity focus advanced Superior generation
Slide 19: Financing Policy
Leading Financing Southern ??48% ??43% ??9% Edison •Dividend August EDISON 18 Authorized Target Periodic Current Balance No Modest Depending financial preferred equity long-term Mission 4, payout the annual California development INTERNATIONAL® Policy of 2011 debt Strategies Way capital upon capital
Slide 20: Liquidity Profile
Leading Liquidity June ($ EME EMG & Sources Credit Cash 21Available 3Lehman August restrictions. EDISON 19Edison Excludes EME Capital millions) 30, &Edison Facility had 4, short-term SCE Brothers the 2011 Capital INTERNATIONAL® Profile Liquidity 2011 parent the corporate Way EIX Subs $2,894 (availab
Slide 21: Debt Maturities and Credit Facilities
Leading Debt June ($ 2011 Short- SCE EMG EIX Expiration SCE1 EME MWG 1EIX1 August EDISON 20$98 millions) 79 30, $200 Maturity 2012 — 138 million $— and —4, —the 2011 600 —INTERNATIONAL® 500 2011 54 $— — Long-Term 2013 of1,426 Way — 560 Credit of — —Profiles $— $2,894 — 2014 SCE in —271 — $1,050 Elec
Slide 22: Reconciliation of Earnings
Leading ($ Reconciliation Earnings Core EMG Non-core SCE EIX Q2 YTD $248 205 53 58 2127 August EDISON 21(1) See Includes millions) —10 177 parent Core GAAP –8Earnings1 $211 10 Use 14 58 27 Q2 tax (3) 4,473 YTD the Attributable — Non-GAAP INTERNATIONAL® items Earnings 2011 11 of settlement 139 termin
Slide 23: Our Commitment to Shareholder Value
Leading Our Among Supportive Leadership See Working •Current August EDISON 22 Dual Southern Commitment Incentive Edison real Shareholder platform 4, the wind equity the Mission people coal INTERNATIONAL® 2011 California compensation regulatory in best Way construction fleet renewable to value operat
Slide 24: SCE Appendix
Leading SCE August EDISON 23 Appendix 4,the INTERNATIONAL® 2011 Way in Electricity SM
Slide 25: SCE Capital Expenditures Forecast
Leading SCE ($ $4.4 $4.8 2010 $3.8 $4.0 Range1 $Forecast Solar Edison Generation Transmission Distribution By % 1Total related August EDISON 24%2009 Currently billions) Proceeding $4.3 Capital 2011 17.5 $17.5 Photovoltaic to SmartConnect™ 4, $3.9 CPUC the $4.4 ByINTERNATIONAL® execution 2011 100 201
Slide 26: SCE Rate Base Forecast
Leading SCE ($ Rate 2011 $18.0 $19.9 $18.2 $20.8 $21.2 $22.6 $24.7 12013 (3) 2Insurance 4, August EDISON 25 Forecast Forecasted 2011 billions) FERC Base Rate –2014 2012 $22.8 2014 4, 25 the INTERNATIONAL® Reauthorization 2011 Base construction 8-11% range EDISON Way CAGR2 Rate Forecast1 includes: in
Slide 27: SCE 2012 General Rate Case
Leading SCE Rate Excludes Cost •DRA Updated 2010 Estimated Q3 July November Opening Final Evidentiary 1ALJ August EDISON 26 Application DRA On Scoping Q4 19 Proposed April July increase 2012 of 2011 Decision1 and testimony Q1 4, Capital Notice the testimony, &fuel INTERNATIONAL® 5, Intervenors 2011
Slide 28: SCE Cost of Capital Mechanism
Leading SCE Moody’s Starting Sep-07 10 Rate ROE •authorized August EDISON 27 ROE In9April 8(%) Cost September 7Since Sep-08 4,Index 6the Baa INTERNATIONAL® 2012, 2011 of 5ROE Way Capital annually Utility =Sep-09 SCE changes 6.26% adjustment in Electricity Mechanism Index—12-month will 2008, Sep-10 M
Slide 29: SCE Major Transmission Projects
Leading SCE Project 2011-2014 Tehachapi Devers-Colorado Eldorado-Ivanpah Red Alberhill Other Grand Rector Antelope Santa Ivanpah Vincent San DCR 321Transmission August EDISON 28FERC Segments Includes Joaquin Diego Bluff Transmission 500kV Clarita Projects3 Total SCE Name 4,Pardee jurisdictional the
Slide 30: SCE FERC Transmission Project Status
Leading SCE FERC Tehachapi Devers-Colorado Eldorado-Ivanpah Alberhill Case Number ER11-3697 October (ROD) July Construction Permit and A. Assessment submitted August EDISON 29 07-06-031 05-04-015 09-05-027 09-09-022 converted 2011, Key Date Formula to obtained 2011, 4, 2010, the Filing INTERNATIONAL
Slide 31: SCE Three Months Results
Leading SCE ($ Three Utility Earning Activities Fuel Operation Depreciation, Property Operating Income Dividends subject Net Core Non-Core Tax 1Total August EDISON 30See millions) interest income settlement and Results Earnings operating SCE Use Months Utility Cost- to 4, before tax Recovery the and
Slide 32: SCE Reconciliation of Earnings Per Share
Leading Reconciliation Earnings Attributable Non-core Tax Health Regulatory Generator Total 1SCE August EDISON 31Seesettlement Core GAAP non-core Use care 4,the Per INTERNATIONAL® items 2011 settlement/refund of EPS Earnings and legislation Way Earnings to Non-GAAP Share of items — SCE Non-GAAP tax
Slide 33: EMG Appendix
Leading EMG August EDISON 32 Appendix 4,the INTERNATIONAL® 2011 Way in Electricity SM
Slide 34: EMG Portfolio as of June 30, 2011
Leading EMG June 964 133 1114 3240 Operating Coal Natural Other Total Wind Pipeline2 Thermal Under August EDISON 33Natural Owned Deliveries 141 167 30, 7,096 10,195 1,677 Development Business 153 Construction Construction3 4, Gas 19 145 the 2011 Development or INTERNATIONAL® gas ~3,900 2011 Platform
Slide 35: Midwest Generation Operational Statistics
Leading Midwest •Operational 43215,172 All-in $52.12 $34.57 $17.55 Q2 Average August EDISON 34 Total Forced Capacity Equivalent Load Average Will Includes See 10Other MW Average County Q2 Generation Factor $49.91 $31.03 $18.88 4,the realized Outage Generation INTERNATIONAL® 2011 11 realized the Fact
Slide 36: Homer City Operational Statistics
Leading Homer •Operational 3211,884 All-in $61.38 $36.30 $25.08 Q2 Average August EDISON 35 Total Forced Capacity Equivalent Load Average Includes See 10Other MW Average Q2 Generation Factor $60.02 $31.80 $28.22 City 4,the realized Outage INTERNATIONAL® 2011 11 realized the Factor –Statistics Non-GA
Slide 37: Completed Environmental Construction
Leading EMG Completed 2010 Mercury (lb/GWh) $45mm NOx SNCR SO2 $34mm emission (lb/mmbtu) 0.28 0.15 Construction 0.11 0.13 Up 21Fleet-wide system. Generation August EDISON 36Actual Based toCounty 0.195 2006 $1.2 4, 2010 Cost on the mercury rate INTERNATIONAL® 2011 Crawford billion average requirement
Slide 38: EMG Covenant Ratios
Leading EMG 6/30/10 EME Funds Corporate-Debt-to-Capital Midwest Debt Homer Senior Covenant August EDISON 37 to Credit Debt Flow Rent City 4, Capitalization 9/30/10 the Generation INTERNATIONAL® Threshold threshold 2011 Covenant Available Way Lease Service Facility 12/31/10 inAgreement (not (less Ele
Slide 39: EMG Q2 Comparative Operating Information
Leading EMG Q2 Midwest Load Total Energy Homer Generation Equivalent Performance Forced Pricing Average Flat Basis August EDISON 38 10 energy 5,430 requirement (PJM Comparative Q2 City outage only Information 4,the realized cost Generation INTERNATIONAL® 2011 11 availability (in price 5,560 West Way
Slide 40: EMG Adjusted EBITDA Reconciliation
Leading EMG June 30, – Adjusted the 2011Way EBITDA in Electricity SM ($See Reconciliation Earnings Addback Discontinued Interest Income Depreciation EBITDA2 Production Gain Addback: 21Adjusted August EDISON 39Earnings millions) on Use 4, from expense income taxes sale/disposal $27 (Deduct): EBITDA I
Slide 41: EMG Q2 Generation Reconciliation
Leading EMG ($ Q2 Generation Less: All-in Add Realized Average Reconciliation Operating Renewable Fuel Midwest Homer Other Segment August EDISON 40 millions) 10 back: costs Costs Unrealized Other revenues average Q2 City 4,the realized revenues fuel Generation INTERNATIONAL® 2011 11 revenues $98 Unr
Slide 42: Use of Non-GAAP Financial Measures
Leading Use United used communicating Core does principal may material production loss financial statistical or generation A included August EDISON 41 either such of on common Our International and orNon-GAAP Edison includes 4, losses loss reconciliation company, the either measure shareholders core