ALJ/DJE/avs Mailed 6/6/2003

Decision 03-06-011 June 5, 2003

BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA

In the Matter of the Application of SOUTHERN CALIFORNIA EDISON COMPANY U-338-E, for authority to issue, sell, and deliver one or more series of Debt Securities and to guarantee the obligations of others in respect of the issuance of Debt Securities, the total aggregate principal amount of such indebtedness and guarantees not to exceed $1,586,840,000; to execute and deliver one or more indentures; to sell, lease, assign, mortgage, or otherwise dispose of or encumber utility property; to issue, sell and deliver in one or more series, an aggregate amount not to exceed $250,000,000 par or stated value of Cumulative Preferred Stock $25 Par Value, Cumulative Preferred Stock --$100 Par Value, Preference Stock or any combination thereof and for an exemption from the Commission's Competitive Bidding Rule.

Application 00-07-006 (Petition for Modification Filed January 25, 2001)

In the Matter of the Application of SOUTHERN CALIFORNIA EDISON COMPANY U-338-E, for an Order to issue Debt Securities, and/or Guarantee the Debt Securities of an Edison affiliate, to finance its Fuel Oil, Nuclear Fuel, and Coal Inventories in an aggregate principal amount not to exceed $900,000,000.

Application 88-03-024 (Petition for Modification Filed January 25, 2001)

In the Matter of the Application of SOUTHERN CALIFORNIA EDISON COMPANY U-338-E, for an order increasing the currently authorized amount of variable interest rate debt instruments, or guarantees of the debt securities of another, to finance undercollections in its Regulatory Balancing Accounts, from $700,000,000 to an aggregate principal amount not to exceed $1,200,000,000.

Application 00-07-048 (Petition for Modification Filed January 25, 2001)

In the Matter of the Application of SOUTHERN CALIFORNIA EDISON COMPANY U-338-E, forAuthority to issue, sell, and deliver one or more series of Debt Securities and to guarantee the obligations of others in respect of the issuance of Debt Securities, the total aggregate principal amount of such indebtedness and guarantees not to exceed $800,000,000; to execute and deliver one or more indentures; to sell, lease, assign, mortgage, or otherwise dispose of or encumber utility property; and for an exemption from the Commission's Competitive Bidding Rule.

Application 97-11-032 (Petition for Modification Filed January 25, 2001)

OPINION

1. Summary

This decision grants the amended expedited petition filed on March 8, 2002, by Southern California Edison Company (SCE) to modify Decisions (D.) 88-07-069 and D.00-10-063. SCE is granted an exemption from the Competitive Bidding Rule.