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SOUTHERN CALIFORNIA EDISON ISSUES STATEMENT

 SOUTHERN CALIFORNIA EDISON ISSUES STATEMENT
 ROSEMEAD, Calif., Oct. 26 /PRNewswire/ -- Southern California Edison


today issued the following statement.
 On October 23, an administrative law judge at the California Public Utilities Commission (CPUC) recommended that Southern California Edison's authorized return on equity be set at 11.80 percent for 1993, compared to 12.65 percent currently authorized. The judge also recommended that Edison's request to increase the proportion of equity in its capital structure be denied.
 In May, Edison requested the CPUC to set its 1993 equity return in a range between 12.65 percent and 13.05 percent. The company also requested an increase in its common equity ratio from 46 percent to 48 percent and an increase in its preferred equity ratio from 6 percent to 7 percent, to reduce the proportion of debt in its regulatory capital structure. Edison believes that these capital structure changes are needed to counter increased financial risks, including the risks associated with long-term purchased power contracts.
 Edison officials expressed disappointment with the judge's proposed decision, citing numerous errors of fact and misapplication of financial principles. "Although the judge agreed that Edison's numerous purchased power obligations increase our financial risk, the proposed decision does not acknowledge this risk by authorizing increased common equity in our capital structure," said Alan J. Fohrer, Edison's vice president, treasurer and chief financial officer.
 Edison has until November 12 to file its comments on the proposed decision. The CPUC may accept, reject or modify the proposed decision, and is scheduled to issue its final ruling November 23.
 -0- 10/26/92
 /CONTACT: Jim Scilacci of Southern California Edison, 818-302-2255/
 (SCE) CO: Southern California Edison ST: Caliornia IN: UTI SU:


TS -- NY006 -- 4556 10/26/92 08:30 EST
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Publication:PR Newswire
Date:Oct 26, 1992
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