Edison International, parent of Southern California Edison, reported a drop in profit Thursday as debt retirement costs stung earnings.

Edison reported second quarter net income of $93 million (28 cents per share) a 47 percent dip from $177 million (54 cents) from the same period a year earlier. The company added that excluding non-core items, earnings were 73 cents per share.

Revenue for the Rosemead-based electricity provider rose 1.5 percent to $3.05 billion.

Edison said that its Southern California Edison utility plans to spend more than $17 billion over the next five years on power plants, transmission wires and upgraded customer meters.

Shares in Edison were fell 15 cents to $56.15 in afternoon trading Thursday on the New York Stock Exchange.