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Regulatory Assets and Liabilities | 3 Months Ended
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Mar. 31, 2021
Regulatory Assets and Liabilities Disclosure [Abstract] |
Regulatory Assets and Liabilities | Note 11. Regulatory Assets and Liabilities Regulatory Assets SCE’s regulatory assets included on the consolidated balance sheets are: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
(in millions) |  | 2021 |  | 2020
Current: |  | ​ |  |  | ​ |
Regulatory balancing and memorandum accounts | ​ | $ | 1,390 | ​ | $ | 1,127
Power contracts | ​ |  | 166 | ​ |  | 165
Other | ​ |  | 22 | ​ |  | 22
Total current | ​ |  | 1,578 | ​ |  | 1,314
Long-term: | ​ |  |  | ​ |  |
Deferred income taxes, net of liabilities | ​ |  | 4,526 | ​ |  | 4,475
Pension and other postretirement benefits | ​ |  | 8 | ​ |  | 12
Power contracts | ​ |  | 221 | ​ |  | 239
Unamortized investments, net of accumulated amortization | ​ |  | 112 | ​ |  | 114
Unamortized loss on reacquired debt | ​ |  | 130 | ​ |  | 133
Regulatory balancing and memorandum accounts | ​ |  | 1,815 | ​ |  | 1,794
Environmental remediation | ​ |  | 265 | ​ |  | 247
Recovery assets1 | ​ | ​ | 331 | ​ | ​ | —
Other | ​ |  | 135 | ​ |  | 106
Total long-term | ​ |  | 7,543 | ​ |  | 7,120
Total regulatory assets | ​ | $ | 9,121 | ​ | $ | 8,434
1 | Represents the balance associated with the AB 1054 Excluded Capital Expenditures related Recovery Properties and prudently incurred financing costs securitized in 2021 with issuance of the associated bond. The recovery period is until 2043, when the bonds are paid in full and all financing costs have been recovered. For further details, see Note 3.
Regulatory Liabilities SCE’s regulatory liabilities included on the consolidated balance sheets are: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
(in millions) |  | 2021 |  | 2020
Current: |  | ​ |  |  | ​ |
Regulatory balancing and memorandum accounts | ​ | $ | 427 | ​ | $ | 471
Energy derivatives | ​ |  | 84 | ​ |  | 87
Other | ​ |  | 13 | ​ |  | 11
Total current | ​ |  | 524 | ​ |  | 569
Long-term: | ​ |  |  | ​ |  |
Cost of removal | ​ |  | 2,727 | ​ |  | 2,595
Re-measurement of deferred taxes | ​ |  | 2,256 | ​ |  | 2,283
Recoveries in excess of ARO liabilities1 | ​ |  | 1,901 | ​ |  | 1,930
Regulatory balancing and memorandum accounts | ​ |  | 1,279 | ​ |  | 1,062
Other postretirement benefits | ​ |  | 673 | ​ |  | 671
Other | ​ |  | 45 | ​ |  | 48
Total long-term | ​ |  | 8,881 | ​ |  | 8,589
Total regulatory liabilities | ​ | $ | 9,405 | ​ | $ | 9,158
1 | Represents the cumulative differences between ARO expenses and amounts collected in rates primarily for the decommissioning of SCE’s nuclear generation facilities. Decommissioning costs recovered through rates are primarily placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on the nuclear decommissioning trust investments. See Note 10 for further discussion.
Net Regulatory Balancing and Memorandum Accounts The following table summarizes the significant components of regulatory balancing and memorandum accounts included in the above tables of regulatory assets and liabilities:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
(in millions) |  | 2021 |  | 2020
Asset (liability) |  | ​ |  |  | ​ |
Energy resource recovery account | ​ | $ | (133) | ​ | $ | (89)
Portfolio allocation balancing account | ​ |  | 437 | ​ |  | 497
New system generation balancing account | ​ |  | (6) | ​ |  | (10)
Public purpose programs and energy efficiency programs | ​ |  | (1,192) | ​ |  | (1,130)
Base revenue requirement balancing account | ​ |  | 662 | ​ |  | 622
Greenhouse gas auction revenue and low carbon fuel standard revenue | ​ |  | (121) | ​ |  | (125)
FERC balancing accounts | ​ |  | 12 | ​ |  | 12
Wildfire and drought restoration accounts1 | ​ |  | 397 | ​ |  | 361
Wildfire-related memorandum accounts2 | ​ | ​ | 1,142 | ​ | ​ | 1,104
COVID-19-related memorandum accounts | ​ | ​ | 87 | ​ | ​ | 176
Customer service re-platform memorandum account3 | ​ | ​ | 37 | ​ | ​ | 30
Residential uncollectibles balancing account4 | ​ | ​ | 129 | ​ | ​ | —
Other | ​ |  | 48 | ​ |  | (60)
Asset | ​ | $ | 1,499 | ​ | $ | 1,388
1 | The wildfire and drought restoration accounts regulatory assets represent restorative costs that are recorded in a Catastrophic Event Memorandum Account ("CEMA").
2 | The wildfire-related memorandum accounts regulatory assets represent wildfire-related costs that are probable of future recovery from customers, subject to a reasonableness review. The Fire Hazard Prevention Memorandum Account ("FHPMA") is used to track costs related to fire safety and to implement fire prevention corrective action measures in extreme and very high fire threat areas. The Wildfire Expense Memorandum Account ("WEMA") is used to track incremental wildfire insurance costs and uninsured wildfire-related financing, legal and claims costs. During 2019, the CPUC approved a Wildfire Mitigation Plan memorandum account to track costs incurred to implement SCE's Wildfire Mitigation Plan that are not currently reflected in SCE's revenue requirements, a Grid Safety and Resiliency Program Memorandum Account ("GSRPMA") to track the costs of SCE's GS&RP that are incremental to costs approved for recovery in SCE's 2018 GRC and a fire risk mitigation memorandum account to track costs related to the reduction of fire risk that are incremental to costs approved for recovery in SCE's 2018 GRC that are not tracked in any other wildfire-related memorandum account.
3 | CSRP memorandum account was established in the 2018 GRC to track costs for implementation of a new customer service system not currently reflected in SCE's revenue requirements.
4 | In November 2020, the CPUC approved the establishment of the residential uncollectibles balancing account ("RUBA"), to track the difference (positive or negative) between the recorded uncollectibles expense for all customer groups and the total authorized uncollectibles revenue collected from all customers subject to a cap equal to the actual recorded uncollectibles expense for residential customers.

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- Definition The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit. + References No definition available. + Details
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