Edison International · NYSE:EIX
Edison International — Investor Presentation (April 2025)
53 slides from Edison International's investor presentation, Apr 30, 2025
Slide 1: April 29, 2025 Business Update
APRIL 29, 2025 BUSINESS UPDATE Exhibit 99.1
Slide 2: Forward-Looking Statements
1Edison International | April 2025 Business Update Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, ar
Slide 3: Electrifying the Future: Customers and Clean Energy
2Edison International | April 2025 Business Update Wildfire Mitigation Financial Information AppendixIntroduction Electrifying the Future: Customers and Clean Energy Edison International leads the transformation of the electric power industry One of the nation’s largest electric-only utilities, with
Slide 4: Investment thesis: wires-focused utility
3Edison International | April 2025 Business Update Wildfire Mitigation Financial Information AppendixIntroduction Electrifying the Future: Customers and Clean Energy Thesis: Wires-focused utility with continuing investments in reliability and resiliency while enabling clean energy transition Constru
Slide 5: California's regulatory mechanisms provide revenue certainty
4Edison International | April 2025 Business Update Wildfire Mitigation Financial Information AppendixIntroduction Electrifying the Future: Customers and Clean Energy California’s regulatory mechanisms provide revenue certainty Revenue Decoupling means earnings aren’t affected by changes in electrici
Slide 6: SCE Wildfire Mitigation: Approach, Progress, and Results
SCE WILDFIRE MITIGATION: APPROACH, PROGRESS, AND RESULTS
Slide 7: Wildfire mitigation links and resources
6Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy AB 1054 (2019) SB 599 (2022) SCE Safety Certification Wildfire Insurance Fund AB 1054-Related Edison for the Record Map of SCE’s Servi
Slide 8: SCE is seeing proof points and results from wildfire mitigation
7Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE is seeing proof points and results from its substantial wildfire mitigation efforts 1. Since 2018 and as of March 31, 2025 6,450+
Slide 9: California has a comprehensive wildfire risk reduction profile
8Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy California has a comprehensive wildfire risk reduction profile, benefiting customers and investors Suppression CAL FIRE Budget: Double
Slide 10: AB 1054 provides a strong regulatory construct for wildfire liability
9Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy AB 10541 provides a strong regulatory construct for determining wildfire liability and cost recovery Established safety certification
Slide 11: Wildfire Insurance Fund provides liquidity for claims payments
10Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Wildfire Insurance Fund provides liquidity for claims payments and ceiling on liability to reimburse fund AB 1054 Wildfire Insurance
Slide 12: SCE does not reimburse Fund for eligible claims above $1 billion
11Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE does not reimburse Fund for eligible claims above annual aggregate insurance of $1 billionIf authorized 100% recovery1 SCE’s Insu
Slide 13: California has increased investments in wildfire suppression and prevention
12Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy $2.0 $2.5 $2.9 $2.5 $2.6 $3.7 $4.1 $4.2 $4.3 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26* California has
Slide 14: Covered conductor is a valuable tool to reduce wildfire risk
13Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy ~4.0 ~0.9 Under- ground Covered Conductor Covered conductor is a very valuable tool to expeditiously and cost-effectively reduce wild
Slide 15: SCE has completed 88% of planned distribution line hardening
14Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE has completed 88% of planned distribution line hardening in high fire risk area (HFRA) Completed Hardening (~13,850 miles) Remain
Slide 16: Electrifying the Future: Customers and Clean Energy
ELECTRIFYING THE FUTURE: CUSTOMERS AND CLEAN ENERGY
Slide 17: Reaching California's 2045 GHG goals requires near-complete transformation
16Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Reaching California’s 2045 GHG goals requires a near-complete transformation of energy use economy wide 100% of grid sales with carbo
Slide 18: EIX net-zero action plan
17Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Neutralize remaining emissions: Mostly from natural gas generation supporting reliability and affordability EIX is directly contribut
Slide 19: Load growth of 80% by 2045 requires grid expansion
18Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Load growth of 80% by 2045 requires a significant acceleration in grid expansion Source: SCE’s Countdown to 2045 analysis. See Countd
Slide 20: Electricity demand projected to rise; household savings from electrification
19Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 2023 2045 By 2045, electricity demand is projected to rise by over 80% from 2022, primarily due to electrification Households will be
Slide 21: Energy share of wallet in SCE's service area compares favorably
20Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 0% 2% 4% 6% 8% 10% 12% 14% Mississippi Alabama West Virginia Montana South Dakota Arkansas Kentucky South Carolina Oklahoma Wyoming M
Slide 22: SCE has lowest system average rate among California IOUs
21Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 35.6 34.0 26.2 PG&E SDG&E SCE SCE has lowest system average rate among California IOUs and remains focused on affordability for custo
Slide 23: 2019-2024 rate increases largely driven by external events
22Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 2019–2024 rate increases largely driven by external events % of Total Increase 2019–2024: SCE’s rate trend outpaced inflation (~12% v
Slide 24: Composition of an average SCE residential bill
23Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Composition of an Average SCE Residential Bill 6% Transmission Investment in operations and maintenance for high-voltage transmission
Slide 25: Customer demand is accelerating; load growth forecast increased
24Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Customer demand is accelerating — 10-year load growth forecast has increased significantly over last two years 2022 Distribution Syst
Slide 26: EIX has one of the strongest electrification profiles
25Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Edison International has one of the strongest electrification profiles in the industry 1. Source: EPRI analysis of Experian data 2. I
Slide 27: SCE leads utility transportation electrification programs
26Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy $872 $806 $457 $414 $394 $313 $309 EIX Utility A Utility B Utility C Utility D Utility E Utility F SCE leads the largest utility tran
Slide 28: Future load growth is highly levered to EV adoption
27Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE’s future load growth is highly levered to EV adoption, helping affordability by providing downward pressure on rates 1. Includes
Slide 29: Financial Information
FINANCIAL INFORMATION Reo
Slide 30: Capital deployment expected to increase in 2025-2028
29Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 5.2 5.4 6.7 7.2 7.2 7.0 0.2 0.3 0.8 0.9 1.0 0.7 $5.4 $5.7 $7.5 $8.1 $8.2 $7.7 2023 2024 2025 2026 2027 2028 Capital deployment expect
Slide 31: Over 85% of capital investments are in distribution grid
30Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Over 85% of SCE’s capital investments are in its distribution grid and essential to reliability, resiliency, and readiness objectives
Slide 32: Projected rate base growth of 6-8% 2023-2028
31Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 33.6 35.4 41.8 45.3 48.7 51.8 7.6 7.4 7.6 7.7 8.1 8.8 $41.2 $42.8 $49.4 $53.0 $56.8 $60.6 2023 2024 2025 2026 2027 2028 Projected ~6–
Slide 33: 2025 GRC record complete, awaiting proposed decision
32Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy 2025 GRC record complete — now awaiting proposed decision 1. Does not reflect updates to 2025 cost of capital All steps by parties co
Slide 34: 2026 cost of capital application filed requesting 11.75% ROE
33Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Ongoing wildfire risk (Request does not include an ROE “adder" above the reasonable range) SCE’s role in advancing California’s clean
Slide 35: Resolution of legacy wildfires entering final stages
34Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Resolution of legacy wildfires entering final stages: TKM settlement approved, and Woolsey proceeding in progress TKM (A.23-08-013) W
Slide 36: Cost recovery benefits financial strength and reduces customer costs
35Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Cost recovery for 2017/2018 events benefits financial strength of the utility and reduces costs for customers Modeling sensitivities:
Slide 37: Reaffirmed 2025 Core EPS guidance of $5.94-6.34
36Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Reaffirmed 2025 Core EPS guidance of $5.94–6.34 Component Modeling Considerations Rate Base EPS (based on capex levels) 6.60–6.80 • C
Slide 38: Memo account recovery
37Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy ~$5.4 billion memo account recovery 2021– Q1 20251 ~$1.6 billion securitizations of AB 1054 capex completed ~$2.8 billion remaining r
Slide 39: Approvals and pending applications for capital spending in memo accounts
38Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy $465 million for Wildfire Mitigation & Restoration (GRC Track 3) $702 million for Wildfire Mitigation & Restoration1 (WMCE) SCE has o
Slide 40: Committed to investment grade credit ratings
39Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX and SCE are committed to investment grade credit ratings 1. Excludes amortization of securitized bonds related to SCE’s AB 1054 E
Slide 41: No variable-rate long-term debt exposure
40Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX & SCE do not have variable-rate long-term debt exposure Approximately $13 billion of the total ~$37 billion long-term debt portfo
Slide 42: Track record of delivering on Core EPS guidance
41Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX has a solid track record of delivering on Core EPS guidance over the last two decades 2024 2023 2022 2021 2020 In-line In-line In
Slide 43: 21 consecutive years of dividend growth
42Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX has 21 consecutive years of dividend growth1 $0.80 $3.31 2004 2025 7% CAGR Dividends per Share 1. 2025 dividend annualized based
Slide 44: 5-7% Core EPS growth for 2025-2028 with minimal equity needs
43Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy EIX expects 5–7% Core EPS growth for 2025–2028, with financing plan showing minimal equity needs 1. For 2025, represents the midpoint
Slide 45: Rate base and EPS growth aligned with grid safety and reliability
44Edison International | April 2025 Business Update Financial Information AppendixIntroduction Wildfire Mitigation Electrifying the Future: Customers and Clean Energy Rate base and EPS growth aligned with grid safety and reliability 1. Compound annual growth rate (CAGR) based the midpoint of the ori
Slide 46: Appendix
APPENDIX INTERNATIONAL
Slide 47: Edison Energy: partners with large organizations on energy transition
46Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Partners with large commercial, industrial, and institutional organizations to navigate the energy transition by providing integrated
Slide 48: SCE continues to fund wildfire claims payments with debt
47Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE continues to fund wildfire claims payments with debt Series Principal Due Rate 2022C 300 6/1/25 4.200% 2020C 350 2/1/26 1.200% 202
Slide 49: Key 2028 earnings sensitivities
48Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Key 2028 Earnings Sensitivities Variable Sensitivity 2028 EPS1(“Per year” amounts refer to 2025–2028) Capex & Rate Base Rate Base $100
Slide 50: SCE key regulatory proceedings
49Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy SCE Key Regulatory Proceedings Proceeding Description Next Steps Base Rates 2025 GRC (A.23-05-010) Sets CPUC base revenue requirement
Slide 51: Woolsey cost recovery schedule
50Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Woolsey Cost Recovery Schedule Event Date Application Filed October 8, 2024 Protests and responses November 12, 2024 SCE’s reply
Slide 52: Non-GAAP reconciliations
51Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Low High Basic EIX EPS $8.30 $8.70 Total Non-Core Items1 2.36 2.36 Core EIX EPS $5.94 $6.34 1. Non-core items are presented as they ar
Slide 53: Use of non-GAAP financial measures and IR contact
52Edison International | April 2025 Business Update AppendixIntroduction Financial InformationWildfire Mitigation Electrifying the Future: Customers and Clean Energy Use of Non-GAAP Financial Measures EIX Investor Relations Contact Sam Ramraj, Vice President Derek Matsushima, Principal Manager (626)
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