These dividends are payable on 31 August 2008 to shareholders of record as of 5 August 2008.

In addition, the company announced quarterly dividends of USD1.53125 per share on the Series B preference stock and USD0.27 per share on the 4.32% series of cumulative preferred stock.

These dividends will be paid on 30 September 2008 to shareholders of record on 5 September 2008.

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"One of our highest objectives is to save our customers money while helping to achieve California's greenhouse gas reduction targets," said SCE President John Fielder. "By acting now under the voluntary provisions of AB 32, SCE can achieve greenhouse gas reductions that likely will be substantially less costly for customers than when the final rules implementing the law take effect in 2012."

If approved, SCE's plan could reduce the equivalent of 3.7 million metric tons of carbon dioxide, comparable to removing approximately 800,000 cars from California roads. The plan includes eight individual projects that would apply advanced clean technologies to a variety of emissions sources. Examples include reducing emissions from idling trucks at large truck stops and converting livestock waste to fuel. (All eight projects are described in an attachment.)

"SCE's program calls for independent state validation, before we begin these projects, of the specific greenhouse gas reduction methods proposed plus strict results measurements after the projects are in operation," said Michael Hertel, SCE director of environmental policy.

The utility estimates its combined early action program would cost about $23 million. SCE soon will file a related request at the California Public Utilities Commission for authority to include these greenhouse gas reduction costs in customer rates if the Air Resources Board confirms the soundness of SCE's greenhouse gas reduction calculations in today's filing. Approval by regulators of the full set of SCE early action projects would represent two-tenths of 1 percent of current rates.

Background

-- SCE has industry-leading renewable energy and customer energy-efficiency programs as well as a low-carbon generating portfolio. As a result, the utility's greenhouse gas emissions already are lower than its 1990 levels.

-- SCE's current generation mix -- 50 percent natural gas, 21 percent nuclear, 16 percent renewable, 8 percent coal and 5 percent large hydro -- has a marginal rate of about 0.4 metric tons of carbon dioxide per megawatt-hour, well below the national average.

Southern California Edison, an Edison International (NYSE:EIX) company, is California's largest electric utility. SCE serves a population of more than 13 million via 4.8 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

Southern California Edison's Proposed Early Action Project List

Southern California Edison (SCE) examined potential projects both inside and outside California. Because greenhouse gases distribute quickly and evenly around the globe, reducing emissions elsewhere has the same beneficial effect on California as reductions inside the state. Projects proposed meet the following criteria:

They are the most viable, least-costly projects currently available that are capable of producing the greatest emissions reductions.

They address emissions not currently covered by other greenhouse gas reduction programs.

1. Converting Large Truck Stops to Operate with Electricity

SCE's proposal would reduce diesel emissions from large truck stops by allowing long-distance truck drivers to shut down their engines during mandatory rest stops. Truck stop owners would be offered financial incentives to help convert 1,000 parking spaces, providing truck cabs with heating, cooling, cable TV and electrical service. The project would target truck stops in California and in bordering states like Nevada where trucks stop before completing deliveries to California.

2. Converting Livestock Waste to Power Fuel

The project would reduce methane emissions from animal waste by converting this greenhouse gas into a renewable fuel for power generation. Incentives would help small dairy farms not covered by other similar programs that are located in the Central Valley of SCE's service territory. The project would help fund renewable energy projects using anaerobic digesters, a process in which microorganisms are used to break down biodegradable material, to produce a methane biogas and fuel on site electricity production.

3. Converting Forklifts to Operate with Electricity

SCE's proposal would reduce diesel, propane and gasoline emissions at Southern California warehouse, manufacturing centers and ports. Incentives would help forklift users acquire clean electric units.

4. Advancing Plug-in Hybrid Electric Vehicles

SCE proposes offering rebates to consumers purchasing plug-in hybrid electric vehicles. This project would encourage the advancement of plug-in transportation technologies, thereby reducing emissions from one of the nation's largest sources of greenhouse gases.

5. Increasing Urban Tree Planting

SCE's proposal would result in 70,000 new urban trees across the 15 counties it serves, capturing carbon dioxide from the air while beautifying participating communities. SCE would provide the trees to city, county and state agencies that would plant and maintain them.

6. Convert Agriculture Pump Engines to Operate with Electricity

SCE's plan would target emissions from older diesel pump motors, primarily in the Central Valley, focusing on those not covered by other state financial incentives to switch to cleaner electro-technologies.

7. Converting Gases from Abandoned Mine to Power Fuel

This project would reduce methane currently escaping into the atmosphere from abandoned mines, likely in a neighboring state. Methane is 24 times more potent than carbon dioxide.

8. Reducing Sulfur Hexafluoride Emissions

Sulfur hexafluoride is a greenhouse gas with 22,200 times the climate change impact as the same volume of carbon dioxide. It is used as an insulator in high voltage electrical equipment such as circuit breakers, transformers and switch gears. The gas often escapes into the atmosphere through leakage in older equipment, during maintenance or repairs and during equipment disposal.

For more than 20 years, SCE voluntarily has been capturing and reclaiming or safely disposing of sulfur hexafluoride emissions from its operations.

SCE proposes assisting utilities in countries not yet taking steps to control this greenhouse gas, offering them information on SCE's successful sulfur hexafluoride capture and disposal program plus financial incentives for implementing such a program.

SOURCE: Southern California Edison

Southern California Edison
Media Contact:
Gil Alexander, 626-302-2255
www.edisonnews.com
Investor Relations Contact:
Scott Cunningham, 626-302-2540
www.edisoninvestor.com

Jet Propulsion Laboratory is achieving complex and ambitious energy efficiency initiatives. It has installed over 4.2 million kilowatt hours of annual savings, which is equivalent to removing over 350 cars from the road for one year. "We are creating innovative engineering achievements in space and then applying them right here on earth too," said Matthew Berbee, Jet Propulsion Laboratory Facilities Engineer. Berbee recently received the Legend in Energy designation from the Association of Energy Engineers for his outstanding innovation in this area.

"Southern California Edison is very pleased to collaborate with Jet Propulsion Laboratory and the California Climate Action Registry to find and apply innovative new ways to tackle the challenge of climate change through energy efficiency," said Gene Rodrigues, Director of Energy Efficiency for Southern California Edison.

"The innovation of Jet Propulsion Laboratory's energy efficiency projects are remarkable," said Gary Gero, President of the California Climate Action Registry."

Southern California Edison is the largest electricity utility in California, serving a population of more than 13 million via 4.8 million customer accounts in a 50,000-square-mile service area within Central and Coastal California.

The California Climate Action Registry is a non-profit public/private partnership that serves as a voluntary greenhouse gas registry to protect, encourage, and promote early actions to reduce emissions. More than 320 major companies, cities, government agencies and NGOs measure and publicly report their GHG emissions through the Registry. http://www.climateregistry.org

SOURCE California Climate Action Registry

http://www.climateregistry.org

On the heels of its $130 million funding round in April led by Idealab, Google.org, and Oak Investment Partners, eSolar is aggressively pursuing a novel approach to large or utility-scale solar projects. Leveraging a proprietary combination of optics and software in a pre-fabricated form factor, eSolar achieves economies of scale with a modular design that focuses on the key business obstacles that have characterized large solar installations - price, scalability, speed of deployment and grid impact.

"eSolar's proprietary approach to solar thermal generation can be designed to meet the needs of utilities large and small - a smarter-sized footprint and variable configurations ensure power can be delivered where it is needed most," said Asif Ansari, CEO of eSolar. "We are proud to be supporting SCE in its commitment to delivering clean, reliable electricity to its customers."

About eSolar

eSolar is an Idealab company founded by CEO Asif Ansari in 2007 to develop, construct and deploy modular, scalable solar thermal power plants. eSolar's approach marries a low-impact, pre-fabricated form factor with advanced optics and computer software engineering to meet the demands of utilities of any size for clean, renewable and cost-competitive solar energy. By focusing on the key business obstacles that have characterized large solar installations - price, scalability, speed of deployment and grid impact - eSolar has developed a proprietary solution to make a dramatic reduction in the cost of solar thermal technology. eSolar is based in Pasadena, California and has 76 employees. For more information please visit http://www.esolar.com/.

About Southern California Edison

An Edison International (NYSE:EIX) company, Southern California Edison is the largest electric utility in California, serving a population of more than 13 million via 4.8 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.

SOURCE: eSolar

Antenna Group for eSolar
Casey Cronin, 415-977-1912
casey@antennagroup.com
or
Southern California Edison
Vanessa McGrady, 626-302-2255
vanessa.mcgrady@sce.com