Southern California Edison Makes Payment to California DWR

March 28, 2001

March 28, 2001

ROSEMEAD, Calif., March 28, 2001--Southern California Edison (SCE) today announced that, pursuant to a California Public Utilities Commission (CPUC) order adopted yesterday, a payment of $43.5 million was made to the California Department of Water Resources (CDWR). This payment is for power purchased by the agency for SCE customers for the period Jan. 19, 2001 through Feb. 11, 2001.

Based on the CPUC's order, the rate applied to purchases between Jan. 19 and Jan. 31 is 6.277 cents per kilowatt-hour. For the period of Feb. 1 through Feb. 11, the rate applied is 7.277 cents per kWh.

The CPUC order also requires SCE to make daily payments to the CDWR going forward for power purchased for SCE customers. Payments will be for power purchased 45 days prior to payment and will be based on the 7.277 cents per kWh rate and actual deliveries.

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An Edison International company, Southern California Edison is one of the nation's largest electric utilities, serving more than 11 million people in a 50,000-square-mile area within central, coastal and Southern California.