Related-Party Transactions

6 Months Ended

Jun. 30, 2024

Related-Party Transactions

Related-Party Transactions

Note 17. Related-Party Transactions

In July 2022, SCE purchased wildfire liability insurance for premiums of $273 million from EIS, for the period to June 30, 2023. SCE subsequently did not renew or purchase wildfire liability insurance from EIS for additional periods. In lieu of obtaining wildfire liability insurance from the commercial insurance market, SCE implemented its customer-funded wildfire self-insurance program beginning July 1, 2023. For further information, see Note 12. The expected insurance recoveries from previously purchased wildfire-related insurance from EIS included in SCE's consolidated balance sheets were $365 million and $355 million at June 30, 2024 and December 31, 2023, respectively. The expense for wildfire-related insurance premiums paid to EIS was $66 million and $132 million for the three and six months ended June 30, 2023, respectively.