6. Assignment of Proceeding

Loretta Lynch is the Assigned Commissioner and Dean Evans is the assigned Administrative Law Judge in these proceedings.

Findings of Fact

1. SCE has previously requested and has received an exemption from the Commission's Competitive Bidding Rule.

2. SCE expects to use current financing authority in 2003 in order to refinance outstanding debt.

3. SCE has $1.3 billion of PROACT-related debt maturing which will need to be repaid using proceeds from a financing, as described herein.

4. SCE expects that even when it has returned to a single-A credit status, competitive bidding may not be possible for these financings.

5. SCE is not seeking additional debt authorization. It intents to use the debt previously authorized to fund any past due obligations, refinance existing debt and to fund its construction program.

6. SCE has a continuing need for an exemption from the Competitive Bidding Rule.

Conclusion of Law

1. It is reasonable to grant SCE's request for exemption from the Commission's Competitive Bidding Rule.

ORDER

IT IS ORDERED that:

1. Southern California Edison Company's Amended Expedited Petition for modification of Decision (D.) 88-07-069 and D.00-10-063 is granted.

2. Applications (A.) 00-07-006, A.88-03-024, A.00-07-048, and A.97-11-032 are closed.

This order is effective today.

Dated June 5, 2003, at San Francisco, California.

MICHAEL R. PEEVEY

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