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Regulatory Assets and Liabilities | 6 Months Ended
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Jun. 30, 2022
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
(in millions) |  | 2022 |  | 2021
Current: |  | ​ |  |  | ​ |
Regulatory balancing and memorandum accounts | ​ | $ | 1,824 | ​ | $ | 1,591
Power contracts | ​ |  | 180 | ​ |  | 168
Other | ​ |  | 26 | ​ |  | 19
Total current | ​ |  | 2,030 | ​ |  | 1,778
Long-term: | ​ |  |  | ​ |  |
Deferred income taxes, net of liabilities | ​ |  | 4,947 | ​ |  | 4,770
Power contracts | ​ |  | 23 | ​ |  | 71
Unamortized investments, net of accumulated amortization | ​ |  | 113 | ​ |  | 114
Unamortized loss on reacquired debt | ​ |  | 115 | ​ |  | 121
Regulatory balancing and memorandum accounts | ​ |  | 1,421 | ​ |  | 1,897
Environmental remediation | ​ |  | 244 | ​ |  | 242
Recovery assets1 | ​ | ​ | 845 | ​ | ​ | 325
Other | ​ |  | 146 | ​ |  | 120
Total long-term | ​ |  | 7,854 | ​ |  | 7,660
Total regulatory assets | ​ | $ | 9,884 | ​ | $ | 9,438
1 | Represents the balance associated with the AB 1054 Excluded Capital Expenditures related Recovery Properties and prudently incurred financing costs securitized with issuance of the associated bond. For further details, see Note 3.
Regulatory Liabilities SCE's regulatory liabilities included on the consolidated balance sheets are: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
(in millions) |  | 2022 |  | 2021
Current: |  | ​ |  |  | ​ |
Regulatory balancing and memorandum accounts | ​ | $ | 506 | ​ | $ | 553
Energy derivatives | ​ |  | — | ​ |  | 25
Other | ​ |  | 17 | ​ |  | 25
Total current | ​ |  | 523 | ​ |  | 603
Long-term: | ​ |  |  | ​ |  |
Costs of removal | ​ |  | 2,678 | ​ |  | 2,552
Re-measurement of deferred taxes | ​ |  | 2,288 | ​ |  | 2,315
Recoveries in excess of ARO liabilities1 | ​ |  | 1,275 | ​ |  | 2,155
Regulatory balancing and memorandum accounts | ​ |  | 822 | ​ |  | 648
Pension and other postretirement benefits | ​ |  | 1,289 | ​ |  | 1,281
Other | ​ |  | 24 | ​ |  | 30
Total long-term | ​ |  | 8,376 | ​ |  | 8,981
Total regulatory liabilities | ​ | $ | 8,899 | ​ | $ | 9,584
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:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
(in millions) |  | 2022 |  | 2021
Asset (liability) |  | ​ |  |  | ​ |
Energy resource recovery account | ​ | $ | (21) | ​ | $ | 759
Portfolio allocation balancing account | ​ |  | 609 | ​ |  | (183)
New system generation balancing account | ​ |  | (31) | ​ |  | 73
Public purpose programs and energy efficiency programs | ​ |  | (1,340) | ​ |  | (1,066)
Base revenue requirement balancing account | ​ |  | 1,528 | ​ |  | 849
GRC wildfire mitigation balancing accounts1 | ​ | ​ | 125 | ​ | ​ | 12
Residential uncollectibles balancing account | ​ | ​ | 55 | ​ | ​ | —
Greenhouse gas auction revenue and low carbon fuel standard revenue | ​ |  | (247) | ​ |  | (298)
FERC balancing accounts | ​ |  | (4) | ​ |  | 55
Wildfire and drought restoration accounts2 | ​ |  | 308 | ​ |  | 299
Wildfire-related memorandum accounts3 | ​ | ​ | 633 | ​ | ​ | 1,456
COVID-19-related memorandum accounts | ​ | ​ | 96 | ​ | ​ | 94
Customer service re-platform memorandum account4 | ​ | ​ | 180 | ​ | ​ | 128
Tax accounting memorandum account and pole loading balancing account | ​ | ​ | 158 | ​ | ​ | 171
Excess bond and power charge balancing account5 | ​ | ​ | (139) | ​ | ​ | —
Other | ​ |  | 7 | ​ |  | (62)
Asset | ​ | $ | 1,917 | ​ | $ | 2,287
1 | The 2021 GRC decision approved the establishment of the vegetation management balancing account ("VMBA") to track vegetation management expenses up to 115% of amounts authorized, the Wildfire Risk Mitigation balancing account ("WRMBA") to track the costs of SCE's Wildfire Covered Conductor Program up to 110% of amounts authorized and the risk management balancing account to track the authorized costs of wildfire insurance. The amount recorded to these balancing accounts represents the difference between costs tracked in the balancing accounts and authorized revenue for those costs recorded to the base revenue requirement balancing account. If spending is less than authorized, SCE will refund those amounts to customers. If spending is within the specified threshold, if any, for each balancing account, SCE will recover those costs from customers. Amounts above the specified threshold, or above amounts authorized if a higher threshold was not established, for each balancing account may be eligible for deferral to wildfire-related memorandum accounts.
2 | The wildfire and drought restoration accounts regulatory assets represent restoration costs that are recorded in a Catastrophic Event Memorandum Account ("CEMA").
3 | 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. The Wildfire Mitigation Plan Memorandum Account ("WMPMA") is used to track costs incurred to implement SCE's wildfire mitigation plan that are not currently reflected in SCE's revenue requirements. The Fire Risk Mitigation Memorandum Account ("FRMMA") is used to track costs related to the reduction of fire risk that are incremental to costs approved for recovery in SCE's GRCs that are not tracked in any other wildfire-related memorandum account. The balance also includes vegetation management spending in excess of the 115% threshold for the VMBA described above.
4 | 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. Expenditures for the CSRP project are subject to reasonableness review by the CPUC. Expenditures for the project were significantly higher than originally projected.
5 | This balancing account was established in January 2022 to refund customers for excess California Department of Water Resources ("DWR") bond and power charges. The refund began in June 2022 for a 12-month period.

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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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