SCEcorp, the parent company of Southern California...
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SCEcorp, the parent company of Southern California Edison Co., reported that its third-quarter profit rose 85% to $391.7 million from the year-ago period. The company said the sharp increase is primarily the result of a California Public Utilities Commission decision that changed the way Edison bills large commercial and industrial customers. These customers now must pay significantly higher prices during the peak summer months when demand is highest, instead of spreading the charges over the year.
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