SCE Responds to FERC Price Mitigation Decision

June 21, 2001

June 21, 2001

ROSEMEAD, Calif., June 21, 2001-Southern California Edison (SCE) commends the Federal Energy Regulatory Commission (FERC) for its decision this week expanding its April 26 electricity spot market price mitigation plan to cover all 11 western states and all hours of trading.

"We have long advocated price constraints as one of several emergency regulatory measures needed to stabilize California's wholesale energy markets," said SCE Chairman, President & CEO Stephen E. Frank.  "We now urge the commission to follow through, making certain that the necessary refunds of unjust and unreasonable wholesale power prices are made promptly." 

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An Edison International (NYSE:EIX) company, Southern California Edison is one of the nation's largest electric utilities, serving a population of more than 11 million via 4.3 million customer accounts in a 50,000-square-mile service area within central, coastal and Southern California.