ENERGY

Edison, PUC Unit Agree on 1995 Rate Case: Southern California Edison Co. announced that it has reached a memo of understanding with the Public Utilities Commission’s Department of Ratepayer Advocates on the utility’s current rate request, which sets how much consumers will pay for power in 1995, 1996 and 1997. Such settlements usually clear the way for the commissioners to approve a new rate structure. Under the pact, Edison will accept a $76-million cut in revenue in 1995 but can further accelerate how fast it uses ratepayer money to pay off the remaining investment in its San Onofre nuclear power plant. The utility is preparing for competition under some form of deregulation. Edison had asked for a $117-million increase in revenue; the DRA had proposed a $151-million cut. The agreement also calls for spending trims in research and development and energy conservation programs.