Slide 1: Second Quarter 2009 Financial Teleconference
Exhibit 99.2 Leading7, August EDISON Second Quarter the INTERNATIONAL® 2009 Way2009 in Electricity FinancialSMTeleconference
Slide 2: Forward-Looking Statements
Leading August EDISON Forward-Looking Statements not differ them Analysis” www.edisoninvestor.com. 1 purely to materially 7, reflect the INTERNATIONAL® 2009 in historical, contained Way Edison new from inStatements information, Electricity International’s are in current this forward-looking These pr
Slide 3: Second Quarter Earnings Summary
Leading August EDISON Second GAAP $(0.05) $(16) $261 ($ Earnings Core1 Q2 $0.78 $0.79 $253 $262 EPS 1 shareholders. core 2 GAAP millions) 08 items. Q2 7, Quarter the earnings (Loss) INTERNATIONAL® 2009 09Way Q2 See Earnings 08 in Second refers Electricity Q2 09toSummary Quarter net income SMFinancia
Slide 4: Second Quarter Reconciliation of Core Earnings and Variances
Leading August EDISON Second Reconciliation Non-core EIX and Total Basic Diluted Core SCE $0.06 other parent $0.06,$–EPS Midwest EMG $0.13 capacity Homer Higher expenses Non-Core Q2 1 company 2 3 See EMMT 09: Earnings Non-Core EPS 0.34 —(1.90)(1.90) Renewable Timing turbine Natural Primarily revenue
Slide 5: Year-to-Date Earnings Summary
Leading August EDISON Year-to-Date GAAP $0.72 $1.70 $234 $559 ($ Earnings Core1 YTD $1.58 $1.72 EPS $512 $565 1 shareholders. core 4 GAAP millions) items. 087,YTD the earnings INTERNATIONAL® 2009 Way Earnings See 09 YTD in Year-to-Date refers Electricity Summary 08toYTD net income SM Financial 09 at
Slide 6: Year-to-Date Reconciliation of Core Earnings and Variances
Leading August EDISON Year-to-Date Reconciliation Non-core EMG(0.02)(1.93)(1.91) and Total Basic Diluted Core includes due Midwest buy-out SFAS Homer expense Renewable More Natural Primarily revenues EMMT2 Corporate Higher offset Edison Lower sale Non-Core SCE EMG Q2 EIX 1 company 2 5 See 09 09: oth
Slide 7: Midwest Generation Operating Statistics
Leading Midwest Operating Total Equivalent Capacity Load Forced Q2 Improved Lower Higher All-in $57.53 $68 $/MWh $51 $34 $15.56 $17 $0 Average 1 2 3 August EDISON 6 Average Includes See Q2 08 $49.00 $41.97 Generation Factor Non-GAAP Average vs. 08 average $56.82 $18.19 Outage fuel 7,the realized Gen
Slide 8: Homer City Operating Statistics
EDISON Leading Homer Operating Total Equivalent Capacity Load Forced o All-in $58.65 $68 $51 $35.42 /MWh $ $23.23 Q2 $0 Average 1 2 3 August 7 17 Average Improved Lower Includes See 08 $52.13 Generation Factor Non-GAAP Average vs. Q2 $34 $58.51 $35.67 $20.91 City Outage 7,the realized average Factor
Slide 9: EMG Capacity Status
Leading August EDISON EMG Status Installed Capacity Price MW July Midwest EME 1 RPM 2 auctions 3 8 Capacity Other Includes 1, MW per Homer auction. Capacity at2012 2009 2010 2011 7, capacity the and June Unsold Generation Average Capacity1 INTERNATIONAL® MW 2009 342 not Way to other City 30, sold MW
Slide 10: EMG Hedge Status
Leading August EDISON EMG Status Remainder 2009 Midwest Additional Homer Total Average Coal 1 MWh) 2 9 As June At of under 2010 estimated Hedge atto City 7, June the price June Generation1 INTERNATIONAL® hedge 30, 2009 2011 coal of contract Way 30, Program 2009, 30, ($/MWh) GWh contracted Midwest 20
Slide 11: Global Tax Settlement and Cash Flow
Leading August EDISON Global Year-to-date Income Overall Edison EIX Net of Taxes Estimated Cash 1 2 10See Includes cross-border proceeds ($ flow the settled Tax parent 7, Statement global millions)1 the “EIX: INTERNATIONAL® 2009 future expected all Settlement Way status through from other co. tax le
Slide 12: Liquidity Profile
EDISON Leading Liquidity March EMG Sources EME SCE Edison EIX Credit Cash Available 1 2 subsidiary 3 August 11Edison Excludes SCE parent && EMG Facility amounts 31, Capital 7, short MWG (in the Capital INTERNATIONAL® Profile Liquidity 2009 2009 of co.& co. the Millions) Way Lehman term amp; (availabil
Slide 13: Reconciliation of 2009 Core Earnings Guidance
Leading August EDISON Reconciliation 2009 as Low Midpoint EIX SCE ??Includes ??Assumes ??48% ??11.5% EMG Non-Core •Other core 1 of 122009 Potential Forward EMMT Increased Pre-tax Prior Mountainview Normal No Excludes See participating ofparent core GAAP item) significant changes Midpoint $2.49 05/08
Slide 14: Appendix
Leading7,the August EDISON Appendix INTERNATIONAL® 2009 Way in Electricity SM
Slide 15: EMG Estimated Capital Expenditures
Leading EMG Estimated Remainder (in 2009 MWG Homer Plant Environmental Growth Projects Turbine Other Total (a) Capital Completion Development EME No 1 executed $210 August EDISON 14See See Millions) decision 2010 million $725 capital working the Capital capital City the Expenditure 7, projects commi
Slide 16: EMG Earnings and Adjusted EBITDA Reconciliation
Leading August EDISON EMG Reconciliation Earnings Addback Discontinued Interest Income Depreciation EBITDA2 Production Addback: Gain Loss Charge Adjusted 1 2 3 15 on – to 7, Adjusted Earnings (loss) expense income(9)(5)(20)(12)(101)(37) taxes lease early sale the (Loss) (Deduct): EBITDA1 SeeINTERNAT
Slide 17: SCE Capital Investment Forecast
Leading August EDISON SCE $4 2009 Base Low $ Solar 5-Yr % 2012 Other FERC Total 1 and 2 experienced 16009 Billions % Subject Low $3 (2) Case2 Capital Base Case 2010 CPUC 100 Rooftop $2 CPUC Rate Case SCE’s 7,the $1 INTERNATIONAL® to 2009 $5 Case $3.3 2011 $2.7 Cases Way $0 reflects timely in Rate In
Slide 18: SCE Rate Base Forecast
Leading August EDISON SCE $ $20 2008 5-Yr Base Low 1 construction program 2 17Billions Forecast $15 Case2 Rate CAGR Case 2009 7, Reflects $10 the atINTERNATIONAL® 2009 Base $25 as $12.5 2010 SCE; $14.4 Way work $5 of Forecast1 $0 July Low 2011 $14.5 and in $15.8 inElectricity 2009 progress (6) Case
Slide 19: SCE Renewables and Transmission Projects 2009-2013
Leading August EDISON •SCE Santa Vincent Antelope Windhub Pardee Los Valley Devers MiraLoma San DPV2 Project 2009-2013 Renewables Tehachapi DPV2—CA Rancho Reliability Other Total Grand 1 Investment 2 3 4 18Additional Tehachapi Transmission Subject “Other Petition FERC Angeles Diego Transmission Rene
Slide 20: Non-GAAP Reconciliation of Realized Prices
Leading August EDISON Non-GAAP Generation Capacity All-in Less: Realized Average Reconciliation Q2 Operating Wind Fuel Midwest Homer Other Segment 19 08Costs expenses Unrealized projects revenues revenues(1)(1)(4)(1) Average Q2 City 7,the realized Revenues fuel revenues Generation and INTERNATIONAL®
Slide 21: Use of Non-GAAP Financial Measures
Leading August EDISON Use Edison accurately EPS share. weighted stock) we EBITDA gain evaluating The and impact A referenced 20reconciliation refer Exchange EPS unrealized average of on byfor Non-GAAP of International’s 7, the principal the to by is average INTERNATIONAL® hedge each 2009 compare EMG