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 5, 2003



                                               EDISON MISSION ENERGY
                              (Exact name of registrant as specified in its charter)



                  DELAWARE                            000-24890                             95-4031807
     (State or principal jurisdiction of          (Commission file                       (I.R.S. employer
       incorporation or organization)                  number)                          identification no.)



                                              18101 Von Karman Avenue
                                             Irvine, California 92612
                           (Address of principal executive offices, including zip code)

                                                   949-752-5588
                               (Registrant's telephone number, including area code)


===================================================================================================================








Items 1 through 11 are not included because they are inapplicable.

         This current report includes forward-looking statements. Edison Mission Energy has based these
forward-looking statements on its current expectations and projections about future events based upon knowledge
of facts as of the date of this current report and its assumptions about future events. These forward-looking
statements are subject to various risks and uncertainties that may be outside Edison Mission Energy's control.
Edison Mission Energy has no obligation to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

Item 12.  Results of Operations and Financial Condition.

         On August 5, 2003, Edison International, the ultimate parent company of Edison Mission Energy, issued
press releases that included information about Edison Mission Energy's consolidated financial results for the
second quarter of 2003.  Copies of the press releases are attached as Exhibits 99.1 and 99.2. The information
furnished in this Item 12, Exhibit 99.1 and Exhibit 99.2 shall not be deemed to be "filed" for purposes of the
Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the
Securities Act of 1933.

         Included in the results of Edison Mission Energy during the second quarter of 2003 is an impairment
charge of $150 million, after tax, related to eight small peaking plants owned by its indirect subsidiary,
Midwest Generation, LLC, in Illinois.  The impairment charge during the second quarter of 2003 will result from a
recently revised long-term outlook for capacity revenues from eight small peaking plants in Illinois. The lower
capacity revenue outlook is the result of a number of factors, including higher long-term natural gas prices and
the current generation overcapacity in the MAIN region market.  The book value of these assets will be written
down from $286 million to an estimated fair market value of $41 million.

         In addition to the impairment charge related to the small peaking plants, Midwest Generation will also
report an impairment charge of $475 million, after tax, related to the 2,698 MW gas-fired Collins Station when it
files its second quarter report on Form 10-Q prior to August 14, 2003.  The impairment charge will result from a
write-down of the book value of capitalized assets related to the Collins Station from $858 million to an
estimated fair market value of $78 million.  The impairment charge by Midwest Generation is not reflected in the
operating results of Edison Mission Energy, Mission Energy Holding Company or Edison International because the
lease related to the Collins Station is treated in their financial statements as an operating lease and not as an
asset and, therefore, is not subject to impairment for accounting purposes. Neither of the impairment charges
triggers any defaults or prepayment obligations under the indebtedness of Midwest Generation or its affiliates,
including Edison Mission Energy and Mission Energy Holding.



Page 2

Reporting of 2002 Change in Accounting - Reconciliation with Edison International
- ---------------------------------------------------------------------------------

         Effective January 1, 2002, Edison Mission Energy adopted Statement of Financial Accounting Standards No.
142, "Goodwill and Other Intangible Assets."  SFAS No. 142 establishes accounting and reporting standards
requiring goodwill not to be amortized but rather tested for impairment at least annually at the reporting unit
level.  During the third quarter of 2002, Edison Mission Energy concluded that fair value of the goodwill related
to the Citizens Power LLC acquisition was impaired by $14 million, net of $9 million of income tax benefit and,
accordingly, reported this amount as a cumulative change in accounting.  In accordance with SFAS No. 3,
"Reporting Accounting Changes in Interim Financial Statements", Edison Mission Energy's financial statements for
the first quarter of 2002 were restated to reflect the accounting change as of January 1, 2002.

         Edison International did not report the goodwill impairment charge discussed above as a cumulative
change in accounting based on the immaterial amount of the charge in relation to its consolidated financial
statements.  Instead, Edison International reported the goodwill impairment charge as part of continuing
operations during the third quarter ended September 30, 2002.  The following table reconciles the amounts that
were reported by Edison Mission Energy for the first six months of 2002 in its Annual Report on Form 10-K to the
segment results for the same prior period as reflected in the Edison International press release.

                                                                  Six Months Ended June 30, 2002
                                                                  ------------------------------

(in millions)
- -------------

                                                                      EME Results      Reporting       EIX Press
                                                                          -------
                                                                                      Adjustment        Release
                                                                                      ----------        -------
Loss from Continuing Operations                                            $(47)                            $(47)
Income from Operations of Discontinued Foreign Subsidiaries
         Discontinued Foreign Subsidiaries Net of Tax                        14                               14
Loss before Accounting Change                                               (33)                             (33)
Cumulative Change in Accounting, Net of Tax                                 (14)         $14                   --
Net Loss                                                                   $(47)         $14                $(33)



Page 3



                                                     SIGNATURE


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 thereunto duly authorized.


                                                Edison Mission Energy
                                                    (Registrant)



Date:                  August 5, 2003                                       /s/ Kevin M. Smith
            --------------------------------------    ----------------------------------------------------------------
                                                                              KEVIN M. SMITH
                                                              Senior Vice President, Chief Financial Officer
                                                                               and Treasurer

EX-99.1

EDISON INTERNATIONAL LOGO


                                                                                                 News Release

FOR IMMEDIATE RELEASE
- ---------------------

                                                                                      Media Contact: (626) 302-1033
                                                                                                     www.edison.com

                                           Edison International Reports
                             Financial Results for the Second Quarter of 2003 - Part I

         ROSEMEAD, Calif., August 5, 2003 -- Edison International (NYSE: EIX) recorded second quarter 2003
earnings per share of seven cents, compared to $2.04 per share in the same period last year.  2003 results
include a charge of $150 million, after tax, or 46 cents per share, by Edison Mission Energy (EME) for the
impairment of eight small peaking plants in Illinois.  2002 results include a $1.47-per-share gain from the
implementation of a regulatory decision on Southern California Edison's (SCE) utility retained generation (URG).

         EIX's core earnings include the impairment charge at EME, and exclude the impact of the URG decision at
SCE in 2002 and discontinued operations.  Excluding the EME impairment charge, EIX's second quarter 2003 results
were comparable to core earnings of 54 cents per share for the same period last year.

SECOND-QUARTER EARNINGS DETAIL

Earnings (Loss) from Continuing Operations
- ------------------------------------------

         SCE earnings from continuing operations were $225 million in the second quarter of 2003, compared with
$215 million in the second quarter of 2002, after excluding the $480 million adjustment related to the URG
decision in 2002.  The $10 million increase in core earnings primarily reflects the impact of two items that
occurred in the second quarter of 2002 that did not occur in the current period:  a refueling outage at San
Onofre Nuclear Generating Station Unit 2 and a one-time positive adjustment relating to the implementation of a
sales adjustment mechanism.

         EME's loss from continuing operations was $165 million in the second quarter of 2003 compared to $6
million in the same period last year.  The decrease in earnings is primarily due to the asset impairment charge
of $150 million, a reduction in revenue from the Illinois power plants which reflects the release of certain
power and capacity in 2003 under the power purchase agreements, higher interest and rent expense from the decline
in EME's and its subsidiaries' credit ratings, and lower ancillary revenues at the First Hydro project.  The
decrease in earnings was partially offset by higher U.S. energy prices, higher earnings from oil and gas
activities and lower state income taxes.  On an annual basis, EME's earnings are seasonal with higher earnings
expected during the summer months.

         The impairment charge at EME during the second quarter of 2003 resulted from a revised long-term outlook
for capacity revenues from its small peaking plants in Illinois due to

                                                     - more -





a number of factors, including the effect of higher long-term natural gas prices on the competitiveness of these
units and the current oversupply of generation.  Since capacity value represents a key revenue component for
these small peaking plants, the revised outlook resulted in a write-down of the book value of these assets from
$286 million to their estimated fair market value of $41 million.  The small peaking power plants range in size
from 64 megawatts (MW) to 163 MW, and total 899 MW.

         In addition to the impairment charge related to the small peaking plants, EME's indirect subsidiary,
Midwest Generation LLC, will report in its separate financial statements for its second quarter, an impairment
charge of $475 million, after tax, related to the long-term lease of the 2,698-MW gas-fired Collins Station.  The
impairment charge results from a write-down of the book value of capitalized assets related to the Collins
Station from $858 million to their estimated fair market value of $78 million.  The impairment charge by Midwest
Generation LLC is not reflected in the operating results of EME, Mission Energy Holding Company or EIX as the
Collins Station is treated in their financial statements as an operating lease and not as an asset, and
therefore, is not subject to impairment for accounting purposes.

         Earnings in the second quarter of 2003 for Edison Capital, Mission Energy Holding Company and EIX parent
company and other were substantially unchanged from the results in the same period last year.

Earnings (Loss) from Discontinued Operations
- --------------------------------------------

         The second-quarter financial results include a loss from discontinued operations of $2 million in 2003
and earnings from discontinued operations of $9 million in 2002.  The 2003 loss is due to adjustments related to
the sale of Fiddler's Ferry and Ferrybridge (FFF) and Lakeland.  The 2002 earnings were due to earnings from
Lakeland and the recovery of an insurance claim related to the operation of FFF prior to its sale in 2001.

                                                                Quarter Ended June 30,
Earnings (Loss) Per Share (Unaudited)                               2003                2002             Change
- -------------------------------------                       -----------------------------------------------------
Core Earnings (Loss):
  Southern California Edison                                       $0.69               $0.66              $0.03
  Edison Mission Energy                                            (0.50)              (0.02)             (0.48)
  Edison Capital                                                    0.04                0.04                 --
  Mission Energy Holding Co.                                       (0.08)              (0.07)             (0.01)
  EIX parent company and other                                     (0.07)              (0.07)                 --
- ----------------------------------------------------------------------------------------------------------------
Edison International Core Earnings                                  0.08                0.54              (0.46)
- ----------------------------------------------------------------------------------------------------------------

  SCE implementation of URG decision                                  --                1.47              (1.47)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings from Continuing Ops.                           0.08                2.01              (1.93)
================================================================================================================

Earnings (Loss) from Discontinued Ops.
  EME's FFF & Lakeland Projects                                (0.01)               0.03              (0.04)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings (Loss) from Discontinued Ops.                 (0.01)               0.03              (0.04)
================================================================================================================

Total EIX Consolidated Earnings                                    $0.07               $2.04             $(1.97)
================================================================================================================

                                                     - more -



                                                                Quarter Ended June 30,
Earnings (Loss) (in millions) (Unaudited)                         2003                      2002         Change
- -----------------------------------------                  -----------------------------------------------------
Core Earnings (Loss):
  Southern California Edison                                        $225                $215                $10
  Edison Mission Energy                                             (165)                 (6)              (159)
  Edison Capital                                                      12                  12                 --
  Mission Energy Holding Co.                                         (24)                (24)                 --
  EIX parent company and other                                       (22)                (21)                (1)
- ----------------------------------------------------------------------------------------------------------------
Edison International Core Earnings                                    26                 176               (150)
- ----------------------------------------------------------------------------------------------------------------

  SCE implementation of URG decision                                  --                 480               (480)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings from Continuing Ops.                             26                 656               (630)
================================================================================================================

Earnings (Loss) from Discontinued Ops.
  EME's FFF & Lakeland Projects                                      (2)                   9               (11)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings (Loss) from Discontinued Ops.                   (2)                   9                (11)
================================================================================================================

Total EIX Consolidated Earnings                                      $24                $665              $(641)
================================================================================================================

YEAR-TO-DATE EARNINGS SUMMARY

         EIX recorded earnings per share of 25 cents for the six-month period ending June 30, 2003, compared to
$2.30 for the same period last year on a reported basis.  2003 earnings include an asset impairment charge at EME
of 46 cents per share and 2002 earnings include a gain of $1.47 per share for implementation of SCE's URG
decision.  EIX had core earnings of $91 million for the six-month period ended June 30, 2003, compared with core
earnings of $255 million for the same period last year.  2003 core earnings exclude EME's loss from discontinued
operations of $2 million and charge of $9 million related to a change in accounting principle. 2002 core earnings
exclude the $480 million gain from the implementation of the URG decision at SCE and earnings from discontinued
operations of $14 million at EME.

YEAR-TO-DATE EARNINGS DETAIL

Earnings (Loss) from Continuing Operations
- -------------------------------------------

         Excluding the $480 million gain to implement the URG decision, SCE's earnings from continuing operations
in the first half of 2003 decreased by $34 million, compared to the same period last year.  The decrease
primarily reflects the impact of a one-time positive adjustment relating to the implementation of a sales
adjustment mechanism that occurred in the second quarter of 2002.  Additionally, SCE had higher operating and
maintenance expenses, including health care and storm damage costs, which were offset by higher revenue.

         EME's loss from continuing operations for the six-month period ending June 30, 2003, increased by $126
million compared to the same period last year primarily due to the asset impairment charge of $150 million.
EME's results were favorably impacted by higher U.S. energy prices and lower state income taxes.   Partially
offsetting these favorable items were a reduction in revenue from the Illinois power plants which reflects the
release of certain

                                                        - more -



power and capacity in 2003 under the power purchase agreements, higher interest and rent expense from a decline
in EME's and its subsidiaries' credit ratings, and lower ancillary revenues at the First Hydro project.

         Edison Capital's earnings for the six-months ended June 30, 2003 were $27 million, down $4 million from
the same period last year.  This decrease is primarily due to a maturing investment portfolio which produces
lower income, partially offset by lower net interest expense and higher tax benefits.

         Earnings for the six months ended June 30, 2003 for Mission Energy Holding Company and EIX parent
company and other were substantially unchanged from the results in the same period last year.

Earnings (Loss) from Discontinued Operations
- --------------------------------------------

         The financial results for the six months ended June 30, 2003 include a loss from discontinued operations
of $2 million at EME from adjustments related to the sale of FFF and Lakeland.  The financial results for the six
months ended June 30, 2002 include earnings from discontinued operations of $14 million which reflect operating
results from Lakeland and the recovery of an insurance claim related to the operation of FFF prior to its sale in
2001.

Change in Accounting Principle
- ------------------------------

         EME's results for the six-month period ending June 30, 2003 include a three-cent, or $9 million, charge
for the cumulative effect of a change in accounting principle for asset retirement obligations adopted in 2003.
As SCE follows accounting principles for rate-regulated enterprises, implementation of this new standard did not
affect its earnings.


                                                              Year-To-Date Ended June 30,
Earnings (Loss) Per Share (Unaudited)                              2003                 2002            Change
- -------------------------------------                      -----------------------------------------------------
Core Earnings (Loss):
  Southern California Edison                                       $1.00               $1.11            $(0.11)
  Edison Mission Energy                                            (0.52)              (0.15)            (0.37)
  Edison Capital                                                    0.08                0.09             (0.01)
  Mission Energy Holding Co.                                       (0.15)              (0.14)            (0.01)
  EIX parent company and other                                     (0.12)              (0.13)             0.01
- ----------------------------------------------------------------------------------------------------------------
Edison International Core Earnings                                  0.29                0.78             (0.49)
- ----------------------------------------------------------------------------------------------------------------

  SCE implementation of URG decision                                   --                1.47            (1.47)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings from Continuing Ops.                           0.29                 2.25            (1.96)
================================================================================================================

Earnings (Loss) from Discontinued Ops.
  EME's FFF & Lakeland Projects                                    (0.01)                0.05            (0.06)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings (Loss) from Discontinued Ops.                 (0.01)                0.05            (0.06)
================================================================================================================

EME Cumulative Effect of Accounting Change                         (0.03)                  --            (0.03)
================================================================================================================

Total EIX Consolidated Earnings                                    $0.25                $2.30           $(2.05)
================================================================================================================

                                                     - more -



                                                              Year-To-Date Ended June 30,
Earnings (Loss) (in millions) (Unaudited)                           2003                 2002            Change
- -----------------------------------------                  -----------------------------------------------------
Core Earnings (Loss):
  Southern California Edison                                        $327                $361              $(34)
  Edison Mission Energy                                             (173)                (47)             (126)
  Edison Capital                                                      27                  31                (4)
  Mission Energy Holding Co.                                         (49)                (46)               (3)
  EIX parent company and other                                       (41)                (44)                3
- ----------------------------------------------------------------------------------------------------------------
Edison International Core Earnings                                    91                 255              (164)
- ----------------------------------------------------------------------------------------------------------------

  SCE implementation of URG decision                                   --                 480             (480)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings from Continuing Ops.                              91                 735             (644)
================================================================================================================

Earnings (Loss) from Discontinued Ops.
  EME's FFF & Lakeland Projects                                       (2)                  14              (16)
- ----------------------------------------------------------------------------------------------------------------
EIX Consol. Earnings (Loss) from Discontinued Ops.                    (2)                  14              (16)
================================================================================================================

EME Cumulative Effect of Accounting Change                            (9)                  --               (9)
================================================================================================================

Total EIX Consolidated Earnings                                       $80                $749            $(669)
================================================================================================================



                                    Reminder: EIX to Hold Conference Call Today

         Today, EIX will hold a conference call to discuss its second quarter 2003 financial results at 8:30 a.m.
PDT.  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.edisoninvestor.com.  Financial and other statistical information to be presented during
the call also will be available on the Web site.  The domestic call-in number is (800) 356-8584 and the Call ID#
is 9300.

                                                        ###

        Based in Rosemead, Calif., Edison International is the parent company of Southern California Edison,
Edison Mission Energy and Edison Capital.

EX-99.2

Edison International Reports Financial Results for the Second Quarter of 2003 - Part II

EDISON INTERNATIONAL
                  SUMMARY OF CONSOLIDATED EARNINGS
    (UNAUDITED)


IN MILLIONS, EXCEPT PER-SHARE DATA                             QUARTER ENDED JUNE 30,            YEAR TO DATE JUNE 30,
- -----------------------------------------------------------------------------------------------------------------------
                                                                  2003            2002           2003            2002
- -----------------------------------------------------------------------------------------------------------------------
ELECTRIC UTILITY                                                $ 2,394         $ 2,133        $ 4,217         $ 4,041
NONUTILITY POWER GENERATION                                         716             673          1,399           1,209
FINANCIAL SERVICES AND OTHER                                         23              18             48              63
- -----------------------------------------------------------------------------------------------------------------------
TOTAL OPERATING REVENUE                                           3,133           2,824          5,664           5,313
- -----------------------------------------------------------------------------------------------------------------------
FUEL                                                                293             279            627             536
PURCHASED POWER                                                     722             581          1,174             835
PROVISIONS FOR REGULATORY ADJUSTMENT CLAUSES - NET                  506            (359)           811             314
OTHER OPERATION AND MAINTENANCE                                   1,081             823          1,865           1,538
DEPRECIATION, DECOMMISSIONING AND AMORTIZATION                      252             261            541             503
PROPERTY AND OTHER TAXES                                             51              36            102              75
- -----------------------------------------------------------------------------------------------------------------------
TOTAL OPERATING EXPENSES                                          2,905           1,621          5,120           3,801
- -----------------------------------------------------------------------------------------------------------------------
OPERATING INCOME                                                    228           1,203            544           1,512
INTEREST AND DIVIDEND INCOME                                         47              62             93             178
EQUITY IN INCOME FROM PARTNERSHIPS AND
     UNCONSOLIDATED SUBSIDIARIES - NET                               60              43            120              94
OTHER NONOPERATING INCOME                                            19               7             53              23
INTEREST EXPENSE - NET OF AMOUNTS CAPITALIZED                      (289)           (316)          (589)           (676)
OTHER NONOPERATING DEDUCTIONS                                       (20)            (23)           (51)            (33)
DIVIDENDS ON PREFERRED SECURITIES                                   (26)            (24)           (51)            (47)
DIVIDENDS ON UTILITY PREFERRED STOCK                                 (4)             (6)            (8)            (11)
- -----------------------------------------------------------------------------------------------------------------------
INCOME FROM CONTINUING OPERATIONS BEFORE TAX                         15             946            111           1,040
INCOME TAX (BENEFIT)                                                (11)            290             20             306
- -----------------------------------------------------------------------------------------------------------------------
INCOME FROM CONTINUING OPERATIONS                                    26             656             91             734
INCOME (LOSS) FROM DISCONTINUED OPERATIONS - NET OF TAX              (2)              9             (2)             15
- -----------------------------------------------------------------------------------------------------------------------
INCOME BEFORE ACCOUNTING CHANGE                                      24             665             89             749
CUMULATIVE EFFECT OF ACCOUNTING CHANGE - NET OF TAX                   -               -             (9)              -
- -----------------------------------------------------------------------------------------------------------------------
NET INCOME                                                         $ 24           $ 665           $ 80           $ 749
=======================================================================================================================


WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING                 326             326            326             326

BASIC EARNINGS (LOSS) PER SHARE:
CONTINUING OPERATIONS                                            $ 0.08          $ 2.01         $ 0.29          $ 2.25
DISCONTINUED OPERATIONS                                           (0.01)           0.03          (0.01)           0.05
CUMULATIVE EFFECT OF ACCOUNTING CHANGE                                -               -          (0.03)              -
                                                              ------------   -------------   ------------   -------------
TOTAL                                                            $ 0.07          $ 2.04         $ 0.25          $ 2.30
                                                            ============   =============   ============   =============

WEIGHTED-AVERAGE SHARES, INCLUDING
   EFFECT OF DILUTIVE SECURITIES                                    329             329            329             329

DILUTED EARNINGS (LOSS) PER SHARE:
CONTINUING OPERATIONS                                            $ 0.08          $ 1.99         $ 0.28          $ 2.23
DISCONTINUED OPERATIONS                                           (0.01)           0.03          (0.01)           0.05
CUMULATIVE EFFECT OF ACCOUNTING CHANGE                                -               -          (0.03)              -
                                                            ------------   -------------   ------------   -------------
TOTAL                                                            $ 0.07          $ 2.02         $ 0.24          $ 2.28
                                                            ============   =============   ============   =============

DIVIDENDS DECLARED PER COMMON SHARE                                 $ -             $ -            $ -             $ -





EDISON INTERNATIONAL
Financial Overview
June 30, 2003



UNAUDITED
- ---------
Dollars in Millions, Except Per-Share Amounts

EDISON INTERNATIONAL (Consolidated Totals)
- ------------------------------------------
                                                         Second Quarter       Year-to-Date
                                                         --------------       ------------
                                           2003         2002          2003         2002
                                           ----         ----          ----         ----
Assets                                     $35,192      $34,298       $35,192      $34,298
Common Equity                               $4,600       $4,136        $4,600       $4,136
Revenue*                                    $3,133       $2,824        $5,664       $5,313
Earnings**                                     $24         $665           $80         $749
Earnings Per Share**                         $0.07        $2.04         $0.25        $2.30
Book Value Per Share                        $14.12       $12.69        $14.12       $12.69
*excludes discontinued operations
**includes parent company and discontinued operations


SOUTHERN CALIFORNIA EDISON (Electric Utility)
- ---------------------------------------------
                                                         Second Quarter       Year-to-Date
                                                         --------------       ------------
                                           2003         2002          2003         2002
                                           ----         ----          ----         ----
Assets                                     $19,721      $19,363       $19,721      $19,363
Common Equity                               $4,714       $3,999        $4,714       $3,999
Revenue                                     $2,394       $2,133        $4,217       $4,041
Earnings                                      $225         $695          $327         $841
Earnings Per Share                           $0.69        $2.13         $1.00        $2.58

EDISON MISSION ENERGY (Nonutility Power Generation)
- ---------------------------------------------------
                                                         Second Quarter       Year-to-Date
                                                         --------------       ------------
                                           2003         2002          2003         2002
                                           ----         ----          ----         ----
Assets                                     $11,910      $10,763       $11,910      $10,763
Common Equity*                              $1,591       $1,650        $1,591       $1,650
Revenue**                                     $715         $673        $1,399       $1,209
Earnings (Loss)                              $(167)          $3         $(184)        $(33)
Earnings (Loss) Per Share                   $(0.51)       $0.01        $(0.56)      $(0.10)
*includes discontinued operations in 2002 only
**excludes discontinued operations

EDISON CAPITAL (Capital and Financial Services Provider)
- --------------------------------------------------------
                                                         Second Quarter       Year-to-Date
                                                         --------------       ------------
                                           2003         2002          2003         2002
                                           ----         ----          ----         ----
Assets                                      $3,517       $3,638        $3,517       $3,638
Common Equity                                 $806         $780          $806         $780
Revenue                                        $22          $14           $44          $45
Earnings                                       $12          $12           $27          $31
Earnings Per Share                           $0.04        $0.04         $0.08        $0.09







SOUTHERN CALIFORNIA EDISON
kWh Sales (In thousands)
June 30, 2003



                                                                     QUARTER ENDED JUNE 30, 2003
                                                                           INCREASE/(DECREASE)
                                                                        FROM
                                                      KwH               LAST YEAR         %
                                                -----------------------------------------------

RESIDENTIAL                                           5,811,948           252,614         4.54
AGRICULTURAL                                            270,030           (63,920)      (19.14)
COMMERCIAL                                            8,813,676           220,544         2.57
INDUSTRIAL                                            2,654,953          (248,181)       (8.55)
PUBLIC AUTHORITIES                                    1,466,828           (33,482)       (2.23)
RAILROADS & RAILWAYS                                     15,102               (50)       (0.33)
INTERDEPARTMENTAL                                            85                13        18.06
                                                ----------------------------------
  SALES TO ULTIMATE CONSUMERS                        19,032,622           127,538         0.67

RESALE SALES                                          4,012,487         4,011,667            *
                                                ----------------------------------
                                                ----------------------------------
  TOTAL KWH SALES                                    23,045,109         4,139,205        21.89
                                                ==================================

      *over 200%



                                                                    SIX MONTHS ENDED JUNE 30, 2003
                                                                          INCREASE/(DECREASE)
                                                                        FROM
                                                      KwH               LAST YEAR         %
                                                -----------------------------------------------

RESIDENTIAL                                          11,832,324           301,333         2.61
AGRICULTURAL                                            437,277           (83,364)      (16.01)
COMMERCIAL                                           17,168,713           417,991         2.50
INDUSTRIAL                                            5,299,184          (482,225)       (8.34)
PUBLIC AUTHORITIES                                    2,830,405           (75,712)       (2.61)
RAILROADS & RAILWAYS                                     30,475               610         2.04
INTERDEPARTMENTAL                                           162                21        14.89
                                                ----------------------------------
  SALES TO ULTIMATE CONSUMERS                        37,598,540            78,654         0.21

RESALE SALES                                          4,633,519         4,632,543            *
                                                ----------------------------------
                                                ----------------------------------
  TOTAL KWH SALES                                    42,232,059         4,711,197        12.56
                                                ==================================

      *over 200%