SB 901 SECURITIZATION AND CUSTOMER CREDIT TRUST (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The Series 2022-A Recovery Bonds were issued in five tranches:

Tranche	Amount		Interest Rate		Final Maturity Date
A-1	$	540,000,000	3.594	%	June 1, 2032
A-2	$	540,000,000	4.263	%	June 1, 2038
A-3	$	360,000,000	4.377	%	June 3, 2041
A-4	$	1,260,000,000	4.451	%	December 1, 2049
A-5	$	900,000,000	4.674	%	December 1, 2053

The Series 2022-B Recovery Bonds were issued in five tranches:

Tranche	Amount		Interest Rate		Final Maturity Date
B-1	$	613,080,000	4.022	%	June 1, 2033
B-2	$	600,000,000	4.722	%	June 1, 2039
B-3	$	500,040,000	5.081	%	June 3, 2043
B-4	$	1,149,960,000	5.212	%	December 1, 2049
B-5	$	1,036,920,000	5.099	%	June 1, 2054

Schedule of Financial Statement Impact of Securitization

The following tables illustrate the inception to date SB 901 securitization impact on the Utility’s regulatory assets and liabilities:

SB 901 securitization regulatory asset (in millions)
Regulatory asset balance at inception	$	5,500
Amortization	(122)
Balance at December 31, 2022	$	5,378

SB 901 securitization regulatory liability (in millions)
Regulatory liability balance at inception	$	(5,540)
Amortization	308
Additions	(568)
Balance at December 31, 2022	$	(5,800)