SCEcorp Raps PUC Plan to Cut Its Return: SCEcorp shares fell after California’s chief regulator proposed a $120-million cut in the company’s 1996 rate of return that is linked to depreciation of its San Onofre nuclear power plant in Northern San Diego County. Rosemead-based SCEcorp, the holding company for power provider Southern California Edison, criticized the plan and said it clouded the prospects for deregulating the state’s power industry. SCEcorp stock closed down $1 at $16 in New York Stock Exchange trading. Tom Higgins, SCEcorp’s vice president for communications, said the proposal by Public Utilities Commission President Daniel Fessler changes the terms of a 1994 agreement between the utility and the commission’s division or ratepayer advocates. The PUC is scheduled to consider the proposal Dec. 6.