2. Background

On January 8, 2010, Southern California Edison Company (SCE) filed Application (A.) 10-01-011 requesting authorization to issue, sell, and deliver $3.5 billion of Debt Securities and $1.0 billion of Preferred Equity. Notice of the application appeared in the Commission's Daily Calendar of January 15, 2010 and no protests were filed. On January 21, 2010, Resolution ALJ 176-3247 was issued, preliminarily categorizing this application as ratesetting and that no hearings were needed.

On February 16, 2010, the assigned Administrative Law Judge (ALJ) issued Administrative Law Judge Ruling Requiring Applicant to File a Response to Request for Information within 10 Days (Ruling). On February 26, 2010, SCE filed its response to the ALJ Ruling. On March 26, 2010, SCE filed Southern California Edison Company's (U 338-E) Response to Administrative Law Judge's Follow-Up Questions (Response). In that Response, SCE reduced its request to $2.49 billion of Debt Securities and $811 million of Preferred Equity ($439 million for construction expenditures, acquisition of property, or to reimburse SCE's treasury for money it has expended for those purposes and $372 million for retirement/refinancing of securities previously issued).