ALJ/DUG/tcg Date of Issuance 10/8/2008

Decision 08-10-015 October 2, 2008

BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA

Application of Southern California Edison Company (U338-E), for Modification of Decision No. 05-06-020.

Application 08-06-013 (Filed June 10, 2008)

DECISION GRANTING SOUTHERN CALIFORNIA EDISON COMPANY
AUTHORITY TO ISSUE UP TO $2,000,000,000
TO FINANCE ITS SHORT-TERM BORROWING NEEDS

1. Summary

This decision grants Southern California Edison Company (Edison) the relief requested in Application (A.) 08-06-013 to modify Decision (D.) 05-06-020 and does not impose any expiration date on the authority. This decision exempts Edison from the complicated formula limit imposed by Pub. Util. Code § 823(c), exempts this authority from the Commission's competitive bidding rules, imposes certain reporting requirements, imposes a fee of $561,500, and supersedes the prior decision for short-term borrowing authority.

Pursuant to § 823(b) and the Commission's broad authority under Pub. Util. Code § 701¹ this decision grants Edison's request to have a flat sum limit to its authority to borrow up to $2 billion in short-term debt to finance its various short-term borrowing needs, i.e., no portion of this sum is fixed and no portion relies on and varies pursuant to § 823(c).

This proceeding is closed.

¹ The commission may supervise and regulate every public utility in the State and may do all things, whether specifically designated in this part or in addition thereto, which are necessary and convenient in the exercise of such power and jurisdiction.