COAST POWER FIRM REFUNDING SAN FRANCISCO Sept 13 UP p- p The California railroad road commission toda today approved d a refinancing refinancing re re- rc financing plan whereby Southern Calif California Edison company estimates esti mates it c can n reduce its annual fixed charges ni more re than The greatest saving to the company com com- company pany will be from the retirement o of par value of outstanding 7 1 per cent preferred stock The redemption re re re- will be at the rate o of 2875 a a. a share on the 25 par stock will the This save company mated annually for or the lif life of the debentures which will be issued Is is- is issued sued at interest at-Interest rates ranging from 2 24 to 3 per cent The debentures debenture will total Application for authority to conclude conclude con con- clude elude this projected refinancing along with an issue of 4 per cent refunding bonds to replace re replace replace re- re re- re place of 55 outstanding was made by the company yester yester- day