Edison International's Q2 2026 filing details a recalibrated capital investment program driven by CAISO’s approval of the 2025-2026 Transmission Plan, which reshaped Southern California Edison’s infrastructure projects and future rate base growth potential [S2]. The utility’s customer-funded wildfire self-insurance program, initiated in 2023, reclassifies wildfire-related claims as non-core items, reducing earnings volatility and improving core earnings quality [S2], [S7]. Additionally, the sale of the Trio subsidiary resulted in reclassification of associated operating losses as non-core, clarifying ongoing operational performance [S2]. Southern California Edison’s regulated electricity sales underpin revenue stability amid regional load demand trends and renewable integration mandates. Key risks include regulatory proceedings, capital execution challenges, and climate-driven liabilities within a capital-intensive framework supported by significant leverage [F1], [S2].