8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 9, 2007

EDISON INTERNATIONAL

(Exact name of registrant as specified in its charter)

CALIFORNIA	001-9936	95-4137452
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

2244 Walnut Grove Avenue

(P.O. Box 800)

Rosemead, California 91770

(Address of principal executive offices, including zip code)

626-302-2222

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

This current report and its exhibit include forward-looking statements. Edison International based these forward-looking statements on its current expectations and projections about future events in light of its knowledge of facts as of the date of this current report and its assumptions about future circumstances. These forward-looking statements are subject to various risks and uncertainties that may be outside the control of Edison International. Edison International has no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, or otherwise. This current report should be read with Edison International’s Annual Report on Form 10-K for the year ended December 31, 2006 and subsequent quarterly reports on Form 10-Q.

Item 2.02 Results of Operations and Financial Condition

On August 9, 2007, Edison International issued a press release reporting its financial results for the quarter ended June 30, 2007. A copy of the press release is attached as Exhibit 99.1. On the same day, members of Edison International’s management spoke to investors via a financial teleconference. The presentation attached as Exhibit 99.2 accompanied management’s comments on the financial teleconference. The information furnished in this Item 2.02 and Exhibits 99.1 and 99.2 shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

See the Exhibit Index below.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EDISON INTERNATIONAL

(Registrant)

/s/ Linda G. Sullivan

Linda G. Sullivan

Vice President and Controller

Date: August 9, 2007

EXHIBIT INDEX

Exhibit No.	Description
99.1	Edison International Press Release dated August 9, 2007
99.2	Edison International Second Quarter 2007 Financial Teleconference dated August 9, 2007

EX-99.1

Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

Media Relations: Charles Coleman, (626) 302-7982

www.edisonnews.com

Investor Relations: Scott Cunningham, (626) 302-2540

www.edisoninvestor.com

Edison International Reports 2007 Second Quarter Earnings

^¡ Second quarter 2007 basic earnings per common share were $0.29, down $0.25 per share from the second quarter of 2006, primarily from non-core items, including a second quarter 2007 charge for early debt extinguishment at the independent power business.

^¡ Second quarter core earnings¹ grew 33% to $0.73 per share primarily due to improved margins at the independent power business.

^¡ Year-to-date basic earnings per common share were $1.29, down 2% from the prior period, while core earnings were $1.63 per share, up 48% from the prior year period, driven by higher energy margins in the independent power business and solid results at the utility.

^¡ 2007 total earnings guidance is increased to $2.90 – $3.25 per share, and 2007 core earnings guidance¹ is increased to $3.24 – $3.59 per share.

Edison International Financial Highlights
	Quarter Ended June 30,				Change
(In millions, except per share data)	2007		2006		$			%
Basic earnings per common share	$	0.29	$	0.54	$	(0.25	)	(46	%)
Core earnings per common share	$	0.73	$	0.55	$	0.18		33	%
Net income	$	93	$	177	$	(84	)	(47	%)
Net cash provided by operating activities	$	526	$	450	$	76		17	%
Total assets	$	36,983	$	35,151	$	1,832		5	%

SECOND QUARTER EARNINGS SUMMARY

ROSEMEAD, Calif., August 9, 2007 – Edison International (NYSE: EIX) today reported consolidated net income of $93 million, or basic earnings per common share of $0.29, in the second quarter of 2007, compared to consolidated net income of $177 million, or $0.54 basic earnings per common share, in the same period last year. Excluding discontinued operations and other non-core items, Edison International’s second quarter core earnings per share were $0.73, up 33% over core earnings per share in the same period last year.

“Edison International’s financial position is strong,” said John E. Bryson, chairman and CEO. “With a solid first half behind us, and a favorable outlook, this sets the stage for increasing our 2007 earnings guidance.”

¹ Core earnings is a non-GAAP financial measure; see reconciliation of core earnings to reported earnings and reconciliation of core earnings guidance to total earnings guidance.

EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

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SECOND QUARTER EARNINGS DETAIL

Earnings (Loss) from Continuing Operations

Southern California Edison Company’s (SCE) 2007 second quarter earnings from continuing operations were $144 million, or $0.44 per share, compared to earnings of $234 million, or $0.72 per share, in the same period last year. SCE’s 2006 second quarter results include a non-core benefit of $81 million, or $0.25 per share, related to the resolution of an outstanding issue involving a portion of revenue collected during 2001-2003 related to state income taxes. Excluding this item, SCE’s core earnings decreased by $9 million, or $0.03 per share, from the second quarter of 2006. This decrease was primarily due to the catch-up adjustment upon receipt of the 2006 general rate case decision in May of last year, which was effective back to January 12, 2006, partially offset by the favorable resolution of an outstanding state income tax issue.

Edison Mission Group’s (EMG) 2007 second quarter loss from continuing operations was $49 million, or $0.15 per share, compared to a loss of $56 million, or $0.17 per share in the same period last year. EMG’s second quarter results in both 2007 and 2006 were impacted by non-core after-tax charges of $148 million and $88 million, respectively, associated with early extinguishment of debt. Excluding these charges, EMG’s 2007 second quarter core earnings were $99 million, or $0.30 per share, an improvement of $67 million, or $0.20 per share, over the second quarter of 2006. The improvement was primarily due to an increase in energy margins at Midwest Generation, driven by higher generation and average realized energy prices, and higher earnings from Edison Capital.

Earnings from Discontinued Operations

Edison International’s earnings from discontinued operations were $2 million and $4 million in the second quarter of 2007 and 2006, respectively, or $0.01 per share in each period related to EMG’s former international projects.

	Quarter Ended June 30,
Earnings (Loss) Per Common Share (Unaudited)	2007			2006			Change
Southern California Edison Company	$	0.44		$	0.72		$	(0.28	)
Edison Mission Group		(0.15	)		(0.17	)		0.02
EIX parent company and other		(0.01	)		(0.02	)		0.01
EIX basic earnings per common share from continuing operations		0.28			0.53			(0.25	)
Earnings from discontinued operations		0.01			0.01			—
EIX basic earnings per common share	$	0.29		$	0.54		$	(0.25	)
EIX diluted earnings per common share	$	0.28		$	0.54		$	(0.26	)

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	Quarter Ended June 30,
Earnings (Loss) (in millions) (Unaudited)	2007			2006			Change
Southern California Edison Company	$	144		$	234		$	(90	)
Edison Mission Group		(49	)		(56	)		7
EIX parent company and other		(4	)		(5	)		1
EIX income from continuing operations		91			173			(82	)
Income from discontinued operations		2			4			(2	)
EIX net income	$	93		$	177		$	(84	)

YEAR-TO-DATE EARNINGS SUMMARY

Edison International recorded net income of $426 million, or $1.29 per share, for the six-month period ending June 30, 2007, compared to $435 million, or $1.32 per share, for the same period last year. Edison International had earnings from continuing operations of $421 million, or $1.28 per share, for the six-month period ended June 30, 2007, compared with $357 million, or $1.08 per share, for the same period last year. Excluding earnings from discontinued operations and other non-core items, Edison International’s core earnings for the six-month period were $538 million, or $1.63 per share, in 2007, compared to $364 million, or $1.10 per share, in the same period in 2006.

YEAR-TO-DATE EARNINGS DETAIL

Earnings (Loss) from Continuing Operations

SCE’s earnings from continuing operations in the first half of 2007 were $325 million, or $1.00 per share, a decrease of $30 million, or $0.09 per share, compared to the same period last year. SCE’s 2007 results include a non-core tax benefit of $31 million, or $0.10 per share, primarily reflecting progress on an appeal with the Internal Revenue Service related to the income tax treatment of certain costs associated with environmental remediation. SCE’s 2006 results include a non-core benefit of $81 million, or $0.25 per share, related to the resolution of an outstanding issue involving a portion of revenue collected during 2001-2003 related to state income taxes. Excluding non-core items, SCE’s core earnings were $294 million, or $0.90 per share, compared to $274 million, or $0.84 per share, in the same period last year, mainly due to higher revenue associated with the 2006 general rate case decision and lower taxes from the favorable resolution of an outstanding state income tax issue.

EMG’s earnings from continuing operations for the first six months of 2007 were $106 million, or $0.33 per share, up $89 million, or $0.28 per share, from the same period last year. Both 2007 and 2006 results were impacted by non-core after-tax charges of $148 million and $88 million, or $0.45 and $0.27 per share, respectively, associated with early extinguishment of debt. Excluding non-core items, EMG’s core earnings were $254 million, or $0.78 per share, an increase of $149 million, or $0.46 per share. This increase primarily reflects higher energy margins at Midwest Generation and Homer City mainly due to higher average realized energy prices and generation, and higher earnings from Edison Capital.

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Earnings from Discontinued Operations

Edison International’s earnings from discontinued operations were $5 million for the six-month period ending June 30, 2007, compared to $77 million for the same period last year, with both years’ earnings resulting primarily from distributions from EMG’s Lakeland project in administrative receivership in the United Kingdom.

	Year-to-Date June 30,
Earnings (Loss) Per Common Share (Unaudited)	2007			2006			Change
Southern California Edison Company	$	1.00		$	1.09		$	(0.09	)
Edison Mission Group		0.33			0.05			0.28
EIX parent company and other		(0.05	)		(0.06	)		0.01
EIX basic earnings per common share from continuing operations		1.28			1.08			0.20
Earnings from discontinued operations		0.01			0.24			(0.23	)
EIX basic earnings per common share	$	1.29		$	1.32		$	(0.03	)
EIX diluted earnings per common share	$	1.29		$	1.32		$	(0.03	)
	Year-to-Date June 30,
Earnings (Loss) (in millions) (Unaudited)	2007			2006			Change
Southern California Edison Company	$	325		$	355		$	(30	)
Edison Mission Group		106			17			89
EIX parent company and other		(10	)		(15	)		5
EIX income from continuing operations		421			357			64
Income from discontinued operations		5			77			(72	)
Cumulative effect of accounting change – net of tax		—			1			(1	)
EIX net income	$	426		$	435		$	(9	)

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Reconciliation of Core Earnings Guidance to Total Earnings Guidance

Core EPS	2007 Guidance Effective 5/9/07		2007 Guidance Updated 8/9/07
Southern California Edison Company	$	1.97 – 2.07	$	1.97 – 2.07
Edison Mission Group		1.21 – 1.51		1.40 – 1.65
EIX Holding Co.		(0.13)		(0.13)
Core	$	3.05 – 3.45	$	3.24 – 3.59
Non-Core Items1
Southern California Edison Company		0.10		0.10
Edison Mission Group		(0.45)		(0.44)
Total Non-Core Items		(0.35)		(0.34)
Total	$	2.70 – 3.10	$	2.90 – 3.25

¹ 2007 non-core items reflect refinancing costs of $(0.45) for EMG and a tax benefit of $0.10 for SCE. The 2007 guidance effective 08/09/07 also reflects $0.01 from discontinued operations.

Edison International’s earnings are prepared in accordance with generally accepted accounting principles used in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission. Edison International’s management uses core earnings, which exclude earnings from discontinued operations and certain other non-core items, internally for financial planning and for analysis of performance. Edison International also uses core earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings results and outlook as it allows them to better compare the company’s ongoing performance across periods. Core earnings per share are reconciled to basic earnings per common share.

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Second Quarter Reconciliation of Core Earnings to Reported Earnings

	Quarter Ended June 30,
Core Earnings (Loss) Per Common Share (Unaudited)	2007			2006			Change
Southern California Edison Company	$	0.44		$	0.47		$	(0.03	)
Edison Mission Group		0.30			0.10			0.20
EIX parent company and other		(0.01	)		(0.02	)		0.01
EIX core earnings per share		0.73			0.55			0.18
Non-core items
SCE – regulatory / tax item		—			0.25			(0.25	)
EMG – early debt retirement		(0.45	)		(0.27	)		(0.18	)
EMG – earnings from discontinued operations		0.01			0.01			—
Total non-core items		(0.44	)		(0.01	)		(0.43	)
EIX basic earnings per common share	$	0.29		$	0.54		$	(0.25	)

	Quarter Ended June 30,
Core Earnings (Loss) (in millions) (Unaudited)	2007			2006			Change
Southern California Edison Company	$	144		$	153		$	(9	)
Edison Mission Group		99			32			67
EIX parent company and other		(4	)		(5	)		1
EIX core earnings		239			180			59
Non-core items
SCE – regulatory / tax item		—			81			(81	)
EMG – early debt retirement		(148	)		(88	)		(60	)
EMG – income from discontinued operations		2			4			(2	)
Total non-core items		(146	)		(3	)		(143	)
Total EIX net income	$	93		$	177		$	(84	)

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EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

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Year-to-Date Reconciliation of Core Earnings to Reported Earnings

	Year-to-date June 30,
Core Earnings (Loss) Per Common Share (Unaudited)	2007			2006			Change
Southern California Edison Company	$	0.90		$	0.84		$	0.06
Edison Mission Group		0.78			0.32			0.46
EIX parent company and other		(0.05	)		(0.06	)		0.01
EIX core earnings per share		1.63			1.10			0.53
Non-core items
SCE – regulatory/tax items		0.10			0.25			(0.15	)
EMG – early debt retirement		(0.45	)		(0.27	)		(0.18	)
EMG – earnings from discontinued operations		0.01			0.24			(0.23	)
Total non-core items		(0.34	)		0.22			(0.56	)
EIX basic earnings per common share	$	1.29		$	1.32		$	(0.03	)
	Year-to-date June 30,
Core Earnings (Loss) (in millions) (Unaudited)	2007			2006			Change
Southern California Edison Company	$	294		$	274		$	20
Edison Mission Group		254			105			149
EIX parent company and other		(10	)		(15	)		5
EIX core earnings		538			364			174
Non-core items
SCE – regulatory/tax items		31			81			(50	)
EMG – early debt retirement		(148	)		(88	)		(60	)
EMG – income from discontinued operations		5			77			(72	)
Total non-core items		(112	)		70			(182	)
Cumulative effect of accounting change – net of tax		—			1			(1	)
Total EIX net income	$	426		$	435		$	(9	)

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Reminder: Edison International Will Hold a Conference Call Today

Today, Edison International will hold a conference call to discuss its second quarter 2007 financial results at 8 a.m. (Pacific daylight time). Although two-way participation in the telephone call is limited to financial analysts and investors, all other interested parties are invited to participate in a “listen-only mode” through a simultaneous webcast on the company’s Web site at www.edison.com. A presentation accompanying management’s comments on the conference call will be available on the web site as well. The domestic call-in number is (800) 356-8584 and the ID# is 11300. In addition to the live simulcast, the webcast will remain posted on the Edison International Web site and telephone replays will be available through Thursday, August 16, 2007, at the following numbers: (877) 693-4277 – for callers in the U.S.; and (402) 220-0042 – for international callers. The PIN Number is 11301.

Risk Disclosure Statement

Statements contained in this presentation about future performance, including, without limitation, earnings, asset and rate base growth, load growth, capital investments, and other statements that are not purely historical, are forward-looking statements. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. Important factors that could cause different results are discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis” in Edison International’s 2006 Form 10-K and subsequent reports filed with the Securities and Exchange Commission and are available on our website: www.edison.com. These forward-looking statements represent our expectations only as of the date of this presentation, and Edison International assumes no duty to update them to reflect new information, events or circumstances.

# # #

Edison International, through its subsidiaries, is a generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison, a regulated electric utility, and Edison Mission Group, a competitive power generation business and parent company to Edison Mission Energy and Edison Capital.

EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

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Edison International

Consolidated Statements of Income

	Three Months Ended June 30,						Six Months Ended June 30,
In millions, except per-share amounts	2007			2006			2007			2006
	(Unaudited)
Electric utility	$	2,459		$	2,521		$	4,681		$	4,739
Nonutility power generation		569			460			1,241			970
Financial services and other		19			20			37			44
Total operating revenue		3,047			3,001			5,959			5,753
Fuel		438			380			924			840
Purchased power		829			769			1,146			1,783
Provisions for regulatory adjustment clauses – net		(33	)		(10	)		255			(371	)
Other operation and maintenance		999			933			1,879			1,818
Depreciation, decommissioning and amortization		313			339			627			631
Net gain on sale of utility property and plant		—			(1	)		(1	)		(1	)
Total operating expenses		2,546			2,410			4,830			4,700
Operating income		501			591			1,129			1,053
Interest and dividend income		45			43			85			80
Equity in income from partnerships and unconsolidated subsidiaries – net		20			10			37			14
Other nonoperating income		22			33			39			74
Interest expense – net of amounts capitalized		(188	)		(209	)		(386	)		(409	)
Loss on early extinguishment of debt		(241	)		(143	)		(241	)		(143	)
Other nonoperating deductions		(9	)		(10	)		(22	)		(22	)
Income from continuing operations before tax and minority interest		150			315			641			647
Income tax expense		—			95			129			206
Dividends on preferred and preference stock of utility not subject to mandatory redemption		13			13			26			25
Minority interest		46			34			65			59
Income from continuing operations		91			173			421			357
Income from discontinued operations – net of tax		2			4			5			77
Income before accounting change		93			177			426			434
Cumulative effect of accounting change – net of tax		—			—			—			1
Net income	$	93		$	177		$	426		$	435
Weighted-average shares of common stock outstanding		326			326			326			326
Basic earnings per common share:
Continuing operations	$	0.28		$	0.53		$	1.28		$	1.08
Discontinued operations		0.01			0.01			0.01			0.24
Total	$	0.29		$	0.54		$	1.29		$	1.32
Weighted-average shares, including effect of dilutive securities		330			330			331			331
Diluted earnings per common share:
Continuing operations	$	0.28		$	0.53		$	1.28		$	1.09
Discontinued operations		—			0.01			0.01			0.23
Total	$	0.28		$	0.54		$	1.29		$	1.32
Dividends declared per common share	$	0.29		$	0.27		$	0.58		$	0.54

EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

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Edison International

Consolidated Balance Sheets

In millions	June 30, 2007			December 31, 2006
	(Unaudited)
ASSETS
Cash and equivalents	$	1,219		$	1,795
Restricted cash		52			59
Margin and collateral deposits		232			124
Receivables, less allowances of $26 and $29 for uncollectible accounts at respective dates		1,050			1,014
Accrued unbilled revenue		480			303
Fuel inventory		133			122
Materials and supplies		282			270
Accumulated deferred income taxes – net		349			203
Derivative assets		277			328
Regulatory assets		385			554
Short-term investments		317			558
Other current assets		215			152
Total current assets		4,991			5,482
Nonutility property – less accumulated provision for depreciation of $1,688 and $1,627 at respective dates		4,534			4,356
Nuclear decommissioning trusts		3,304			3,184
Investments in partnerships and unconsolidated subsidiaries		271			308
Investments in leveraged leases		2,507			2,495
Other investments		108			91
Total investments and other assets		10,724			10,434
Utility plant, at original cost:
Transmission and distribution		18,138			17,606
Generation		1,481			1,465
Accumulated provision for depreciation		(4,927	)		(4,821	)
Construction work in progress		1,684			1,486
Nuclear fuel, at amortized cost		168			177
Total utility plant		16,544			15,913
Regulatory assets		2,821			2,818
Restricted cash		62			91
Margin and collateral deposits		14			4
Derivative assets		107			131
Rent payments in excess of levelized rent expense under plant operating leases		668			556
Other long-term assets		1,052			832
Total long-term assets		4,724			4,432
Total assets	$	36,983		$	36,261

EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

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Edison International

Consolidated Balance Sheets

In millions, except share amounts	June 30, 2007			December 31, 2006
	(Unaudited)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Short-term debt	$	$175		$	—
Long-term debt due within one year		330			488
Accounts payable		853			926
Accrued taxes		163			155
Accrued interest		182			196
Counterparty collateral		40			36
Customer deposits		212			198
Book overdrafts		222			140
Derivative liabilities		123			181
Regulatory liabilities		1,120			1,000
Other current liabilities		859			983
Total current liabilities		4,279			4,303
Long-term debt		9,091			9,101
Accumulated deferred income taxes – net		5,309			5,297
Accumulated deferred investment tax credits		119			122
Customer advances		161			160
Derivative liabilities		65			86
Power-purchase contracts		27			32
Accumulated provision for pensions and benefits		1,152			1,099
Asset retirement obligations		2,810			2,759
Regulatory liabilities		3,234			3,140
Other deferred credits and other long-term liabilities		1,494			1,267
Total deferred credits and other liabilities		14,371			13,962
Total liabilities		27,741			27,366
Minority interest		292			271
Preferred and preference stock of utility not subject to mandatory redemption		915			915
Common stock, no par value (325,811,206 shares outstanding at each date)		2,106			2,080
Accumulated other comprehensive income (loss)		(18	)		78
Retained earnings		5,947			5,551
Total common shareholders’ equity		8,035			7,709
Total liabilities and shareholders’ equity	$	36,983		$	36,261

EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

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Edison International

Consolidated Statements of Cash Flows

	Six Months Ended June 30,
In millions	2007			2006
	(Unaudited)
Cash flows from operating activities:
Net income	$	426		$	435
Less: income from discontinued operations – net of tax		5			77
Income from continuing operations		421			358
Adjustments to reconcile to net cash provided by operating activities:
Cumulative effect of accounting change – net of tax		—			(1	)
Depreciation, decommissioning and amortization		627			631
Realized loss on nuclear decommissioning trusts		23			—
Other amortization		64			43
Minority interest		65			59
Deferred income taxes and investment tax credits		(193	)		160
Equity in income from partnerships and unconsolidated subsidiaries		(37	)		(14	)
Income from leveraged leases		(31	)		(36	)
Levelized rent expense		(112	)		(112	)
Loss on early extinguishment of debt		241			143
Regulatory assets – long-term		76			112
Regulatory liabilities – long-term		(1	)		(174	)
Derivative assets – long-term		(4	)		14
Derivative liabilities – long-term		(57	)		38
Other assets		(22	)		(96	)
Other liabilities		251			(14	)
Margin and collateral deposits – net of collateral received		(113	)		263
Receivables and accrued unbilled revenue		(189	)		(78	)
Derivative assets – short-term		(40	)		171
Derivative liabilities – short-term		(63	)		42
Inventory and other current assets		(42	)		(47	)
Regulatory assets – short-term		169			(204	)
Regulatory liabilities – short-term		121			29
Accrued interest and taxes		205			(4	)
Accounts payable and other current liabilities		(151	)		(333	)
Distributions and dividends from unconsolidated entities		21			26
Operating cash flows from discontinued operations		5			82
Net cash provided by operating activities		1,234			1,058
Cash flows from financing activities:
Long-term debt issued		2,905			1,815
Premium paid on extinguishment of debt and issuance costs		(240	)		(26	)
Long-term debt repaid		(2,965	)		(1,818	)
Issuance of preference stock		—			196
Rate reduction notes repaid		(116	)		(116	)
Short-term debt financing – net		175			518
Change in book overdrafts		82			(64	)
Shares purchased for stock-based compensation		(180	)		(101	)
Proceeds from stock option exercises		72			33
Excess tax benefits related to stock option exercises		35			14
Dividends to minority shareholders		(32	)		(63	)
Dividends paid		(189	)		(176	)
Net cash provided (used) by financing activities	$	(453	)	$	212

EDISON INTERNATIONAL REPORTS 2007 SECOND QUARTER FINANCIAL RESULTS

Page 13 of 13

Edison International

Consolidated Statements of Cash Flows

	Six Months Ended June 30,
In millions	2007			2006
	(Unaudited)
Cash flows from investing activities:
Capital expenditures	$	(1,335	)	$	(1,207	)
Purchase of interest of acquired companies		(23	)		(18	)
Proceeds from sale of property and interests in projects		—			44
Proceeds from nuclear decommissioning trust sales		2,017			1,461
Purchases of nuclear decommissioning trust investments		(2,084	)		(1,544	)
Proceeds from partnerships and unconsolidated subsidiaries, net of investment		31			13
Maturities and sales of short-term investments		270			97
Purchase of short-term investments		(30	)		(173	)
Restricted cash		30			(15	)
Turbine deposits		(241	)		(17	)
Customer advances for construction and other investments		8			54
Net cash used by investing activities		(1,357	)		(1,305	)
Net decrease in cash and equivalents		(576	)		(35	)
Cash and equivalents, beginning of period		1,795			1,893
Cash and equivalents, end of period	$	1,219		$	1,858

EX-99.2

Exhibit 99.2

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Second Quarter 2007

Financial Teleconference

August 9, 2007

EDISON INTERNATIONAL®

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Forward-Looking Statements

Statements contained in this presentation about future performance, including, without limitation, earnings, asset and rate base growth, load growth, capital investments, and other statements that are not purely historical, are forward-looking statements. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. Important factors that could cause different results are discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis” in Edison International’s 2006 Form 10-K and subsequent reports filed with the Securities and Exchange Commission and are available on our website: www.edison.com. These forward-looking statements represent our expectations only as of the date of this presentation, and Edison International assumes no duty to update them to reflect new information, events or circumstances.

EDISON INTERNATIONAL®

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Use of Non-GAAP Financial Measures

Edison International’s earnings are prepared in accordance with generally accepted accounting principles used in the United States and represent the company’s earnings as reported to the Securities and Exchange Commission. Edison International’s management uses core earnings, which exclude earnings from discontinued operations and other non-core items, internally for financial planning and for analysis of performance. Edison International also uses core earnings as the primary performance measurement when communicating with analysts and investors regarding its earnings results and outlook, as it allows them to more accurately compare the company’s ongoing performance across periods. A reconciliation of Non-GAAP information to GAAP information is included either on the slide where the information appears or on another slide referenced in the presentation.

EDISON INTERNATIONAL®

Second Quarter Highlights

Core earnings1 $0.73 per share up 33%; reported earnings of $0.29 per share impacted by non-core items

Results for Southern California Edison (SCE) on plan

Strong operating performance for Edison Mission Group (EMG)

Core earnings2 guidance increased from $3.05 - $3.45 to $3.24 - $3.59 per share on a higher outlook for EMG

SCE Update

Submitted regulatory filings for $1.8 billion Tehachapi transmission project (June) and $1.3 billion in capital investment for Edison SmartConnectTM (July)

Tendered 2009 General Rate Case notice of intent (July) with final application to be filed in November – consistent with 12%+ 2007-2011 rate base growth

DPV2 transmission project denied by Arizona Corporation Commission (ACC); SCE is evaluating its options on how best to advance the project

EMG Update

Strong operating performance and strengthening capacity market

Placed into service the largest wind project to date, Wildorado (161 MW), located in Texas

Additional wind projects placed into construction, turbine commitments increased, and development pipeline expanded

1 See slide 5 for reconciliation of core earnings to reported earnings.

2 See slide 12 for reconciliation of core earnings guidance to total earnings guidance.

3

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Second Quarter Earnings Summary

GAAP

Net Income

($ millions)

$93

2Q 07

$177

2Q 06

Basic EPS

$0.29

2Q 07

$0.54

2Q 06

Core1

Net Income

($ millions)

$239

2Q 07

$180

2Q 06

EPS

$0.73

2Q 07

$0.55

2Q 06

1 See slide 5 for reconciliation of core earnings to reported earnings. Core earnings is defined as GAAP earnings less income from discontinued operations and other non-core items.

EDISON INTERNATIONAL®

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Second Quarter Financial Results

Reconciliation of Core Earnings to Reported Earnings

Core Earnings		2Q 07			2Q 06			Var.
SCE	$	0.44		$	0.47		$	(0.03	)
EMG		0.30			0.10			0.20
EIX Holding Co.		(0.01	)		(0.02	)		0.01

Core EPS	$		0.73		$		0.55		$		0.18
Non-Core Items
SCE		$	—			$	0.25			$	(0.25	)
EMG			(0.44	)			(0.26	)			(0.18	)
Total Non-Core		$	(0.44	)		$	(0.01	)		$	(0.43	)
Basic EPS		$	0.29			$	0.54			$	(0.25	)
Diluted EPS		$	0.28			$	0.54			$	(0.26	)

Core Earnings Variances
SCE
Primarily due to the catch-up adjustment upon receipt of the 2006 GRC decision in May of last year, partially offset by the favorable resolution of an outstanding state income tax issue	-0.03
EMG
Midwest Generation
Primarily higher energy margin, driven by higher generation and higher average realized prices, and lower net interest expense, partially offset by higher planned maintenance costs	+0.12
Homer City
Higher energy margin, driven by higher generation and higher	–
average realized prices, offset by higher planned maintenance costs in 2007 and estimated insurance recovery in 2006 related to Unit 3 outage
Edison Capital
Gains on global infrastructure fund investments, lower taxes	+0.07
and other
Other	+0.01

Non-Core Variances
SCE 2006 includes the resolution of an outstanding issue involving a portion of revenue collected during 2001-2003 related to state income taxes.	-0.25
EMG Results include per share charges of $0.45 and $0.27 for early debt extinguishment in 2Q 07 and 2Q 06, respectively,and $0.01 from discontinued operations in both periods.	-0.18

EDISON INTERNATIONAL®

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Year-to-Date Earnings Summary

GAAP

Net Income

($ millions)

$426

YTD 07

$435

YTD 06

Basic EPS

$1.29

YTD 07

$1.32

YTD 06

Core1

Net Income EPS

($ millions)

$538

YTD 07

$364

YTD 06

$1.63

YTD 07

$1.10

YTD 06

1 See slide 7 for reconciliation of core earnings to reported earnings. Core earnings is defined as GAAP earnings less income from discontinued operations and other non-core items.

Year-to-Date Financial Results

Reconciliation of Core Earnings to Reported Earnings

Core Earnings		YTD 07			YTD 06			Var.
SCE	$	0.90		$	0.84		$	0.06
EMG		0.78			0.32			0.46
EIX Holding Co.		(0.05	)		(0.06	)		0.01
Core EPS	$	1.63		$	1.10		$	0.53
Non-Core Items
SCE	$	0.10		$	0.25		$	(0.15	)
EMG		(0.44	)		(0.03	)		(0.41	)
Total Non-Core	$	(0.34	)	$	0.22		$	(0.56	)
Basic EPS	$	1.29		$	1.32		$	(0.03	)
Dilulted EPS	$	1.29		$	1.32		$	(0.03	)

Core Earnings Variances
SCE
Mainly due to higher revenue associated with the GRC decision and lower taxes from the favorable resolution of an outstanding state income tax issue	+0.06
EMG
Midwest Generation	+0.25
Primarily higher energy margin, driven by higher generation and higher average realized prices, and lower net interest expense, partially offset by higher planned maintenance costs
Homer City	+0.13
Primarily higher energy margin, driven by higher generation and higher average realized prices, partially offset by higher planned maintenance costs in 2007 and estimated insurance recovery in 2006 related to Unit 3 outage
Edison Capital	+0.08
Predominantly gains on global infrastructure fund investments
Non-Core Variances
SCE YTD 07 $ 0.10 reflecting progress made with the IRS related to the income tax treatment of certain environmental remediation costs; YTD 06 $ 0.25 related to the resolution of an outstanding issue involving a portion of revenue collected during 2001-2003 related to state income taxes	-0.15
EMG YTD 07 and YTD 06 include ($0.45) and ($0.27) per share for early debt extinguishment charges, and $0.01 and $ 0.24 per share primarily from proceeds from discontinued operations related to Lakeland, respectively.	-0.41

7

Midwest Generation – Operating Performance

YTD 2007 vs. YTD 2006

• Generation up about 16%

• Capacity and Load Factors increased on higher off-peak sales

• Availability and Forced Outage Rates in line with plan

Operating Statistics	YTD 2007		YTD 2006
Total Generation (GWh)	14,756		12,738
Equivalent Availability	74.7	%	76.4	%
Capacity Factor	60.5	%	52.3	%
Load Factor	81.1	%	68.4	%
Forced Outage Rate	6.0	%	5.0	%

All-in average realized price increased by about $6 per MWh YTD compared to the same period last year

All-in Average Realized Prices1

	$60
			$53.53		$52.81
		$47.93		$46.85
	$40
			$39.71		$39.68
		$34.51		$33.71
$/MWh
	$20
		$13.42	$13.82	$13.14	$13.13
	$0
		2Q 06	2Q 07	YTD 06	YTD 07

Average realized gross margin ($/MWh)2 Average fuel and emission costs ($/MWh)

1 Includes the price of energy, capacity, ancillary services, etc.

2 Average realized gross margin is equal to all-in average realized prices less average fuel and emission costs.

8

Homer City – Operating Performance

YTD 2007 vs. YTD 2006

• Generation up about 20%

• 2006 Availability and Forced Outage Rates impacted by the Unit 3 transformer failure

• 2007 operating performance in line with plan

Operating Statistics	YTD 2007		YTD 2006
Total Generation (GWh)	6,453		5,387
Equivalent Availability	85.0	%	73.1	%
Capacity Factor	78.7	%	65.7	%
Load Factor	92.6	%	89.9	%
Forced Outage Rate	3.9	%	22.8	%

All-in average realized price increased by over $8 per MWh YTD compared to the same period last year

All-in average Realized Prices1

	$	60			$	56.44			$	58.14
			$	48.61			$	49.55
	$	40			$	34.82			$	36.42
			$	24.48			$	25.52
$/MWh
	$	20
			$	24.13	$	21.62	$	24.03	$	21.72
	$	0
				2Q 06		2Q 07		YTD06		YTD07

Average realized gross margin ($/MWh)2 Average fuel and emission costs ($/MWh)

1 Includes the price of energy, capacity, ancillary services, etc.

2 Average realized gross margin is equal to all-in average realized prices less average fuel and emission costs.

9

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EMG Hedge Program Status

Status at June 30, 2007		Remainder
		of
		2007		2008		2009
Midwest Generation
Energy Only Contracts
Megawatt hours (in GWh)		8,250		10,838		2,048
Average Price ($/MWh)	$	48.07	$	61.38	$	60.00
Load Requirement Services Contracts
Estimated GWh1		4,072		5,613		1,632
Average price ($/MWh) 2	$	64.35	$	64.01	$	63.65
Total estimated GWh		12,322		16,451		3,680
Coal under contract (in millions of tons)		9.2		14.6		11.7
Homer City
Megawatt hours (in GWh)		3,820		7,232		2,048
Average price ($/MWh)	$	64.24	$	60.86	$	71.05
Coal under contract (in millions of tons)		2.7		4.3		3.5

1 The amount of power sold is a portion of the retail load of the purchasing utility and can vary significantly with variations in that retail load. Retail load depends upon a number of factors, including the time of day and year, and the utility’s number of new and continuing customers. Estimated MWh have been forecast based on historical patterns and on assumptions regarding the factors that may affect retail loads in the future. The actual load will vary from that used for the above estimate, and the amount of variation may be material.

2 The average price per MWh, which is subject to a seasonal price adjustment, represents the sale of a bundled product that includes, but is not limited to, energy, capacity and ancillary services. Also, Midwest Generation will incur charges from PJM as a load-serving entity. Thus, the average price per MWh is not comparable to the sale of power under an energy only contract. The average price per MWh represents the sale of the bundled product based on an estimated customer load profile.

EDISON INTERNATIONAL®

EMG Capacity Sales

Status at July 27, 2007		July 1, 2007 - May 31, 2008						June 1, 2008 - May 31, 2009
Megawatts except price per MW-day		Midwest Generation			Homer City			Midwest Generation			Homer City
INSTALLED CAPACITY		5,918			1,884			5,918			1,884
Less: Net capacity held due to load requirements services contracts1, and retained for outages		(2,793	)		(228	)		(1,755	)		(183	)
NET CAPACITY AVAILABLE FOR SALE		3,125			1,656			4,163			1,701
Fixed Price Capacity Sales
• RPM Auction Process
– Net Capacity Sold		2,625			786			3,283			820
– Price per MW-day	$	40.80		$	40.80		$	111.92		$	111.92
• Non-unit Specific Capacity Sales
– Net Capacity Sold		500			—			880			—
– Price per MW-day	$	21.29		$	—		$	64.35		$	—
Variable Capacity Sales
• Third Party Transaction
– Capacity		—			870			—			881
– Price per MW-day 2	$	—		$	69.39		$	—		$	72.56
TOTAL CAPACITY SOLD		3,125			1,656			4,163			1,701
AVERAGE PRICE PER MW-DAY	$	37.68		$	55.82		$	101.86		$	91.53

1 Load requirements services contracts include energy, capacity and ancillary services.

2 Actual contract price for Homer City sale is a function of NYISO capacity auction clearing prices. Capacity price per MW-day is based on forward over-the-counter NYISO prices at July 27, 2007.

11

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Earnings Guidance

Reconciliation of Core Earnings Guidance to Total Earnings Guidance

	2007 Guidance	2007 Guidance
			Effective				Updated
			05/09/07				08/09/07
Core EPS
Southern California Edison	$	1.97 - $			2.07	$		1.97 - $			2.07
Edison Mission Group			1.21 -		1.51				1.40 -		1.65
EIX Holding Company			(0.13	)					(0.13	)
Core	$	3.05 - $			3.45	$		3.24 - $			3.59
Non-Core Item1
Southern California Edison			0.10						0.10
Edison Mission Group			(0.45	)					(0.44	)
Total Non-Core Items			(0.35	)					(0.34	)
Total	$	2.70 - $			3.10	$		2.90 - $			3.25

1 2007 non-core items reflect refinancing costs of ($0.45) for EMG and a tax benefit of $0.10 for SCE. The 2007 guidance effective 08/09/07 also reflects $0.01 from discontinued operations.

EDISON INTERNATIONAL®

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Appendix

EDISON INTERNATIONAL®

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EMG Comparative Operating Statistics

		Q2 07			Q2 06			Var.		%			YTD 07			YTD 06			Var.		%
Midwest Generation
Generation (in GWh)
Energy Only contracts		4,445			5,493								11,143			12,738
Load Requirement Services Contracts		1,681			—								3,613			—
Total		6,126			5,493			633		12	%		14,756			12,738			2,018		16	%
Performance
Equivalent Availability Rate (EAF)		61.5	%		66.0	%		(4.5	)%				74.7	%		76.4	%		(1.7	)%
Forced Outage Rate (EFOR)		6.0	%		7.7	%		(1.7	)%				6.0	%		5.0	%		1.0	%
Pricing Information
Average Realized Energy Price ($/MWh)
Energy Only Contracts	$	49.04		$	46.70		$	2.34		5.00	%	$	49.06		$	45.85		$	3.21		7	%
Load Requirement Services Contracts	$	62.58		$	—		$					$	62.21		$	—		$
Average Cost of Fuel ($/MWh)	$	13.82		$	13.42		$	0.40		3	%	$	13.13		$	13.14		$	(0.01	)	— %
Flat Energy Price-Nihub ($/MWh)	$	44.39		$	39.31		$	5.08		13	%	$	44.60		$	40.89		$	3.71		9	%
Homer City
Generation (in GWh)		3,160			2,866			294		10	%		6,453			5,387			1,066		20	%
Performance
Equivalent Availability Rate (EAF)		83.5	%		74.3	%		9.2	%				85.0	%		73.1	%		11.9	%
Forced Outage Rate (EFOR)		1.8	%		19.9	%		(18.1	)%				3.9	%		22.8	%		(18.9	)%
Pricing Information
Average Realized Energy Price ($/MWh)	$	54.32		$	47.38		$	6.94		15	%	$	56.13		$	48.41		$	7.72		16	%
Average Cost of Fuel ($/MWh)	$	21.62		$	24.13		$	(2.51	)	(10	)%	$	21.72		$	24.03		$	(2.31	)	(10	)%
Flat Energy Price-PJM West Hub ($/MWh)	$	57.61		$	48.08		$	9.53		20	%	$	58.73		$	52.25		$	6.48		12	%
Flat Energy Price-HC Busbar ($/MWh)	$	48.81		$	44.00		$	4.81		11	%	$	51.00		$	47.24		$	3.76		8	%
Flat Energy Price-Basis	$	8.80		$	4.08		$	4.72				$	7.73		$	5.01		$	2.72
(PJM West Hub less HC Busbar)

EDISON INTERNATIONAL®

EDISON INTERNATIONAL® 15

EMG Wind Projects and Pipeline

~3,100 MW development pipeline in 16 states

Oklahoma

Construction 95 MW

Pipeline 300 MW

Texas

In-Service 161 MW

Pipeline 630 MW

New Mexico

In-Service 90 MW

Pipeline 60 MW

MW

In-Service 471

Construction 293

Development Pipeline 3,103

Turbines (not shown) 1,414

EMG Wind Portfolio1

Nebraska

Pipeline 100 MW

Wyoming

Construction 61 MW

Pipeline 80 MW

Utah

Pipeline 90 MW

Nevada

Pipeline 315 MW

Iowa

In-Service 145 MW

Pipeline 200 MW

Wisconsin

Pipeline 100 MW

Illinois

Pipeline 390 MW

New York

Pipeline 130 MW

Maine

Pipeline 54 MW

Maryland

Pipeline 80 MW

West Virginia

Pipeline 345 MW

Minnesota

In-Service 75 MW

Construction 70 MW

Pipeline 169 MW Pennsylvania

Construction 67 MW

Pipeline 60 MW

1 Data as of June 30, 2007; turbines purchased or committed to support development pipeline.

15

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EMG Liquidity Profile

Available Liquidity

Sources (in millions)		12/31/06		6/30/07
EME Revolver	$	473	$	522
MWG Revolver		495		467
Cash & Short term investments1		2,181		1,321
	$	3,149	$	2,310

$1.1 billion of credit facilities between MWG and EME

1 Excludes $73 million and $192 million of cash collateral held by counterparties at 12/31/06 and 6/30/07, respectively.

EDISON INTERNATIONAL®