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Jeffrey Martin’s Leadership Dialogue at Energy Intelligence Forum
Addressing 3,000 global energy stakeholders at the annual Energy Intelligence Forum, Sempra Chairman and Chief Executive Officer Jeffrey W. Martin described the opportunities and challenges associated with the world’s journey to net-zero by the middle of the century. Sempra Chairman and CEO, Jeffrey Martin (right), speaks with Michael Sultan at the virtual 2021 Energy Intelligence Forum In a Leadership Dialogue fireside chat moderated by Michael Sultan, editor of LNG Intelligence, Martin shared insights into Sempra’s climate strategy and plan for creating long-term, sustainable value. “Here in the United States, our owners are really American utility investors, and they’re looking for three things: relative safety of their investment, return of capital in the form of a growing dividend, and growing, stable earnings.” Every day, Sempra companies deliver energy to 36 million consumers in North America — more Americans than any other utility holding company in the country. Our transmission and distribution infrastructure serves some of the world’s largest and fastest-growing markets, including California, Texas, Mexico and the LNG export market. “We’ve established long-term goals across our enterprise to be net-zero in greenhouse gas emission scopes one, two and three,” said Martin. “It’s about working to provide more energy to customers with demonstrably lower carbon content.” “We have nearly 70 billion dollars of consolidated assets across our enterprise, and we are well suited to be a leader in the ongoing electrification of society,” said Martin. “We also understand that natural gas is a natural partner for renewables and can promote electrification.” Another benefit of natural gas is that it is highly complementary with biomethane and hydrogen, which in combination can help lower the overall carbon content of natural gas in the future. “As energy grid owners, we need to do the ‘make-ready’ work so that when hydrogen is available, we can introduce it into our energy system quickly and safely.” More of Martin’s remarks can be read in this Energy Intelligence article.
SDG&E Sets New Goals and Accelerates Actions to Drive Toward Net Zero GHG Emissions by 2045
Today San Diego Gas & Electric Company (SDG&E) released its annual sustainability strategy update, highlighting what it has accomplished over the past year to help create a clean, resilient and equitable future, as well as outlining new and accelerated goals to help meet its pledge to reach net zero greenhouse gas emissions by 2045. “Over the past year, we spent a lot of time listening to a wide cross section of stakeholders so that we could incorporate their feedback into our long-term strategy to move our region closer to carbon neutrality,” said SDG&E CEO Caroline Winn. “We recognize we still have much work to do and that we can’t do it alone. Community partners who support and challenge us in our work to develop sustainability solutions are invaluable as we focus on strengthening climate equity and community resilience where we all call home.” SDG&E’s new sustainability goals include: Operating a Zero Emissions Fleet by 2035 Recognizing the transportation sector is the single largest source of GHG emissions 1, SDG&E seeks to operate a 100% zero emissions vehicle (ZEV) fleet by 2035 – five years ahead of the company’s original goal. Achieving Zero Net Energy Facilities by 2030 Buildings account for 25% of GHG emissions in the state 2. As part of SDG&E’s work to ensure its own operations are sustainable, the company set a new goal to achieve zero net energy 3 for all company-owned facilities in San Diego and southern Orange County. Piloting a Virtual Power Plant by 2022 In an effort to boost grid reliability, flexibility and resilience, SDG&E will accelerate its timeline to deliver a virtual power plant (VPP) by 2022, instead of 2025 as originally planned. This innovative demonstration project will integrate multiple types of customer-owned distributed energy resources (DER), including energy storage systems, into a planned renewable microgrid in Shelter Valley, a community in eastern San Diego County. The primary goal of the VPP is to coordinate the dispatch of customer DERs in concert with microgrid energy needs and allow those resources to be dispatched to the regional grid when supplies are tight. Results of the demonstration will inform future initiatives and grid management system needs. SDG&E released a comprehensive sustainability strategy in October 2020, which included several aspirational goals. In the interest of accountability and transparency, the company committed to providing an annual update on its progress toward meeting its sustainability goals. Highlights of the company’s accomplishments over the past year include: Adding two energy storage facilities (totaling 50 MW) by year end and starting construction on a third Acquiring three large-scale mobile batteries, which can be deployed as backup power during emergencies Finishing construction of a renewable microgrid by year end to support a rural community in a high fire-threat area that is subject to Public Safety Power Shutoffs and starting construction on a second microgrid that will provide backup power to CAL FIRE and U.S. Forest Service aerial firefighting assets Helping launch a regional collaborative called Accelerate to Zero Emissions (A2Z) to align and attract public and private investment to expand the infrastructure necessary to support widespread adoption of electric vehicles and fuel cell vehicles Completing a decade-long project to harden electrical infrastructure inside the Cleveland National Forest – replacing more than 2,300 wood poles with steel poles Issuing $750 million in green bonds to raise the capital needed to deliver some of the projects outlined in its sustainability strategy To view SDG&E’s sustainability strategy update and learn more about its programs, visit sdge.com/sustainability. Photos of sustainability projects available SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing natural gas pipelines; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra Energy (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter (@SDGE), Instagram ( @SDGE) and Facebook. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as “believes,” “expects,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” “should,” “could,” “would,” “will,” “confident,” “may,” “can,” “potential,” “possible,” “proposed,” “in process,” “under construction,” “in development,” “target,” “outlook,” “maintain,” “continue,” “goal,” “aim,” “commit,” or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S. in which we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) the ability to realize anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; cybersecurity threats to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; the impact on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation, and the risk of nonrecovery for stranded assets and contractual obligations; volatility in inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov, and on Sempra’s website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. This press release may include market, demographic and industry data and forecasts that are based on or derived from third-party sources such as independent industry publications, publicly available information, government data and other similar information from third parties. We do not guarantee the accuracy or completeness of any of this information, and we have not independently verified any of the information provided by these third-party sources. In addition, market, demographic and industry data and forecasts involve estimates, assumptions and other uncertainties and are subject to change based on various factors, including those discussed above. Accordingly, you should not place undue reliance on any of this information. This report also contains links to third-party websites that are not hosted or managed by Sempra or its family of companies, including SDG&E. We are not responsible for, nor do we recommend, endorse or support, any information contained on any such third-party websites. Sempra Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.
Sempra To Report Third-Quarter 2021 Earnings November 5
SAN DIEGO, Oct. 14, 2021 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) plans to release its third-quarter 2021 earnings by 7 a.m. ET, Friday, Nov. 5. Sempra executives will conduct a conference call at 12 p.m. ET, Friday, Nov. 5. Investors, media, analysts and the public may listen to a live webcast of the conference call on the company's website, sempra.com, by clicking on the appropriate audio link. Prior to the conference call, a slide presentation detailing the earnings results also will be posted by 7 a.m. ET, Friday, Nov. 5, on Sempra's website. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 9127369, or it can be accessed on the company's website. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have more than 19,000 talented employees who deliver energy with purpose to over 36 million consumers. With more than $66 billion in total assets at the end of 2020, the San Diego-based company is the owner of one of the largest energy networks in North America serving some of the world's leading economies. The company is helping to advance the global energy transition by enabling the delivery of lower-carbon energy solutions in each market it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture including safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2021 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at www.sempra.com and on Twitter @Sempra. SOURCE Sempra
SoCalGas Statement on SB 297 Becoming California Law
LOS ANGELES, Oct. 12, 2021 /PRNewswire/ -- On Friday, Gov. Gavin Newsom signed SB 297 (Durazo) into law. This bill will enact the Wade Kilpatrick Gas Safety and Workforce Adequacy Act of 2021, prescribing increased civil penalties to operators or excavators who violate provisions relating to excavations and subsurface installations and cause damage to underground utility infrastructure. SB 297 includes additional measures to promote safety and reliability while preventing repeat offenders from hitting natural gas or hazardous liquid pipelines. SoCalGas issued the following statement to the media in response: "On behalf of our over 8,000 employees, we want to thank Gov. Newsom and Sen. Durazo for their leadership in helping to keep our employees safe with the passage of the Wade Kilpatrick Gas Safety and Workforce Adequacy Act of 2021 (SB 297). We take extraordinary precautions before, during and after the job to make sure the job is done safely, and this bill will extend that effort to all contractors. "In July 2019, we were saddened by the tragic loss of Wade Kilpatrick, a SoCalGas employee, who died while responding to a damaged gas pipeline. The damage was reportedly caused by a contractor who hadn't called 811 before beginning work. "Our hope is that increased penalties will influence more people to contact 811. The simple act of contacting 811 before beginning any excavation work can save lives, protect our community, prevent costly repairs and deter emissions reduction efforts. Statement from Utility Union Workers of America Local 132 Statement may be attributed to: Eric Hoffman, President, Local 132 "Our brothers and sisters of UWUA Local 132 make safety our number one priority. We work tirelessly to keep natural gas safe, affordable, and reliable for small businesses and families across Southern California and, if need be, we fight for the public's safety in Sacramento. "The Wade Kilpatrick Gas Safety Act will help battle irresponsible contractors that endanger lives, while simultaneously promoting good paying union jobs, and a safe environment. This legislation increases fines and penalties to reckless contractors who repeatedly damage gas infrastructure and fail to follow the proper safety protocols. We want to thank Governor Newsom, Senator Durazo, and the Legislature for passing this common-sense safety reform. SOURCE Southern California Gas Company
Sempra Gives FERC Testimony on Energy Resilience
As part of Sempra’s ongoing collaboration with government partners to advance the energy transition, Sempra Senior Vice President of Corporate Affairs and Chief Sustainability Officer Lisa Alexander recently provided testimony during the Federal Energy Regulatory Commission’s (FERC) annual Reliability Technical Conference about the importance of advancing climate resilient energy systems. “Companies like Sempra make long-term, generational investments in infrastructure,” said Alexander. “As we plan for the future, one thing is clear today: climate resilience is paramount, as we witness more frequent and increasingly severe weather events. Our company brings deep urgency and an important perspective to conversations such as this one, especially given our diverse regional operations — through our gas and electric utilities in California and Texas — and our global experience as an exporter of low carbon LNG, which helps emerging markets and other countries develop and decarbonize their energy networks.” While the challenges the world faces today are unlike any faced before, Sempra believes technology and innovation remain key to advancing climate resilience and creating a net-zero future for all. In her testimony, Alexander outlined five key areas to help enable progress: Advanced meteorological and technology-enabled situational awareness, such as Sempra’s comprehensive network of over 200 weather stations at San Diego Gas and Electric Co. (SDG&E); Infrastructure hardening, such as the $3.15 billion dedicated to a comprehensive wildfire mitigation program invested at SDG&E over the last ten years; Diversification of the energy network, which will be even more critical if and when cleaner fuels such as renewable gas and green and blue hydrogen come online and can help meet electrification goals and improve resiliency; Integrated planning that considers both gas and electric grids working in tandem to bolster resilience; and Policy and regulation that attracts investments to climate-resilient infrastructure, as entities such as FERC can encourage investments and participation in the climate-resilient systems of the future. The United States has an opportunity to lead the global energy transition, to develop solutions to our most pressing challenges and to demonstrate pathways to a decarbonized future. At Sempra, we will continue to play a leading role by innovating, expanding and investing in climate resilient transmission and distribution networks needed to create net-zero energy networks of tomorrow.
Advancing a Clean Energy Future
Decarbonization efforts, transition to net-zero greenhouse gas, LNG, and energy infrastructure part of Sempra's clean energy future.
SoCalGas Among First in the Nation to Test Hydrogen Blending in Real-World Infrastructure and Appliances in Closed Loop System
LOS ANGELES, Sept. 30, 2021 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced that it is blending hydrogen to fuel a household system and appliances at its Engineering Analysis Center and Centralized Training Facility. As part of the testing, technicians are measuring the performance of common household appliances like stoves, wall heaters and forced-air furnaces when they are fueled with a blend of hydrogen and natural gas. This is the next step moving out of the lab and toward future blending into the natural gas grid, with an emphasis on safety and training. SoCalGas is among the first utilities in the nation to test the effects of a hydrogen blend on natural gas infrastructure and equipment in a controlled field environment. This effort utilizes the same engineering and technology that will be used to blend into the natural gas grid in the future. The use of hydrogen, either blended with natural gas, or delivered via a dedicated pipeline, is one important component of SoCalGas' strategy to achieve net zero emissions in its operations and the energy it delivers by 2045. Preliminary results of testing that began earlier this summer show the household natural gas appliances are compatible with up to a 20% hydrogen blend. These initial findings are consistent with previous international research and lab testing. This effort provides key operational and safety experience, including testing for pipeline leaks, that will enable SoCalGas to implement larger scale hydrogen blending demonstrations. SoCalGas continues to test the impacts of blending hydrogen with natural gas on pipelines and appliances. Furthermore, separate National Renewable Energy Laboratory (NREL) analysis and several international industry studies have indicated the potential to blend hydrogen into existing distribution pipelines serving end use customers. "In a net zero emissions California, clean fuels like hydrogen will play an essential role in supporting a reliable electric grid, in eliminating emissions from hard to electrify sectors of the economy like transportation and industry, and in making the transition to a clean energy economy affordable," said Neil Navin, vice president of clean energy innovations for SoCalGas. "The European Hydrogen Backbone Initiative is a great example on how cooperation can accelerate these goals. There, some 23 nations are working to repurpose 70 percent of their existing natural gas infrastructure to carry clean hydrogen to a cluster of demand centers across the European Union." "Investing in tests that aim to demonstrate the potential of hydrogen is key to identifying solutions that can help us address our current climate crisis," said Assemblymember Bill Quirk. "SoCalGas' commitment to decarbonization innovations help advance the energy transition." Several analyses, including the Los Angeles Renewable Energy Study (LA100) by the Los Angeles Department of Water and Power (LADWP) and NREL, highlight the need, in 2045, for renewably produced and storable fuels to maintain reliability in the power sector. In addition, many experts agree that clean fuels like hydrogen will be essential for decarbonizing hard to electrify sectors of the economy like industry and heavy-duty trucking. SoCalGas is actively engaged in more than 10 pilot projects related to hydrogen, including a partnership with Netherlands-based HyET Hydrogen on technology that could transform hydrogen distribution and enable the rapid expansion of hydrogen fueling stations for fuel cell electric vehicles (FCEVs). The technology would allow hydrogen to be easily and affordably transported via the natural gas pipeline system, then extracted and compressed at fueling stations that provide hydrogen FCEVs. In addition, later this year, SoCalGas will break ground on its award-winning H2 Hydrogen Home. The first project of its kind in the U.S., the H2 Hydrogen Home aims to show how carbon-free gas made from renewable electricity can be used in pure form or as a blend to fuel clean energy systems of the future. When the home is built in the city of Downey, it will be the first fully integrated demonstration project with solar panels, a battery, and electrolyzer to convert solar energy to hydrogen and a fuel cell to supply electricity for the home. In June 2021, SoCalGas and its H2 Hydrogen Home were named one of Fast Company's World-Changing Ideas in the North America category. The award honors products, concepts, companies, policies, and designs that are pursuing innovation for the good of society and the planet. Earlier this year, in support of California's climate goals, SoCalGas became the largest gas distribution utility in North America to set a net zero emissions target that includes scopes 1, 2, and 3 GHG emissions. SoCalGas' Aspire 2045 strategy aligns with the recommendations of the Paris Climate Agreement and reflects the company's focus on supporting California with a resilient gas grid through the energy transition to support a carbon neutral economy. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to the goal of achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S. in which we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) the ability to realize anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at the Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; cybersecurity threats to the storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; volatility in inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. SOURCE Southern California Gas Company
SoCalGas Announces Agreements to Resolve Aliso Canyon Litigation
LOS ANGELES, Sept. 27, 2021 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced agreements that are expected to resolve substantially all material civil litigation against SoCalGas related to the 2015 Aliso Canyon natural gas storage facility leak. As a result of the agreements, SoCalGas will record an after-tax charge of approximately $1.1 billion this month. Settlement costs will not be borne by ratepayers. The first agreement is subject to obtaining roughly 97% participation among approximately 36,000 individual plaintiffs and court approval of the settlement allocation process, among other conditions. The second and third agreements involve settlement with a class estimated to include at least 23,000 properties and the dismissal of the named plaintiffs in a putative business class action, both of which are subject to court approval. "These agreements are an important milestone that will help the community and our company work toward putting this difficult chapter behind us," said Scott Drury, CEO of SoCalGas. "In the years since the leak, SoCalGas has worked alongside regulators, technical experts, and our neighbors to enhance safety at all our underground storage facilities and our engagement with the community. As a result, our storage facilities operate by what regulators and experts have called some of the most rigorous safety standards in the country." Background In July 2017, state regulators cleared SoCalGas to resume injections at the Aliso Canyon natural gas storage facility. In accordance with new state regulations, SoCalGas has enhanced the operational safety and reliability of the facility. At the state's direction, the field is being operated at a reduced pressure, providing an additional margin of safety. Industry-leading technology and practices in place at Aliso Canyon include: Use of casing around inner steel tubing to provide a physical, secondary barrier of protection; Integrity assessments on all wells with advanced inspection tools and pressure testing; Around-the-clock pressure monitoring of all wells by a 24-hour operations center; and Wellhead and fence-line methane detection systems. SoCalGas previously entered into a settlement agreement with the Los Angeles City Attorney's Office, the County of Los Angeles, the California Office of the Attorney General, and the California Air Resources Board to resolve all outstanding claims by those government bodies against the company related to the leak. For additional information about the agreements announced today to resolve Aliso Canyon natural gas storage facility litigation as well as remaining legal and regulatory proceedings related to the leak, please see the Current Report on Form 8-K filed by Sempra and SoCalGas with the Securities and Exchange Commission today. For more information about Southern California Gas Company, visit www.socalgas.com About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to the goal of achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: satisfying all conditions precedent to the settlement agreements, including the participation of a sufficient number of plaintiffs and court approvals ; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S. in which we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) the ability to realize anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at the Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; cybersecurity threats to the storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; volatility in inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. SOURCE Southern California Gas Company
Sempra Announces Strategic And Financial Update
SAN DIEGO, Sept. 27, 2021 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced developments related to its strategy and financial performance. "At this point in the year, we are pleased with our progress on several key strategic initiatives, including the timing of closing for Sempra Infrastructure, ongoing efforts to reduce litigation risk and improved visibility to the company's financial outlook. With all third-party transaction approvals received and material conditions satisfied, we have scheduled closing on our partnership with KKR on Oct. 1," said Jeffrey W. Martin, chairman and CEO of Sempra. "Also, today's announcement by SoCalGas provides a clear path to resolving material legacy litigation, while also reducing the overall risk to Sempra's portfolio." Sale of Non-Controlling Interest in Sempra Infrastructure to KKR Through a series of transactions announced last year, Sempra is forming Sempra Infrastructure, a strategic growth platform that is expected to increase shareholder value by consolidating Sempra's energy infrastructure businesses. The new platform will consist of the company's liquefied natural gas business and its ownership interest in IEnova (Infraestructura Energética Nova, S.A.B. de C.V.) and will invest in incremental capital opportunities associated with non-utility transmission and distribution infrastructure. In May, Sempra completed its stock-for-stock exchange offer to acquire the publicly owned shares of IEnova. Also, earlier this month, Sempra completed its follow-on cash tender offer to acquire the remaining publicly owned shares of IEnova that were not obtained in the exchange offer. Sempra's ownership interest in IEnova is now 99.92%, and IEnova has submitted a request to applicable Mexican regulators to delist its shares from the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B. de C.V.). As a next step, Sempra has met all material closing conditions and is scheduled to complete the sale of a non-controlling, 20% interest in Sempra Infrastructure to KKR on Oct. 1. Proceeds from the sale are expected to be used to, among other things, help fund growth across Sempra's capital program, which is centered on its U.S. utilities, and to further strengthen its balance sheet. Agreements to Resolve Aliso Canyon Litigation Also today, SoCalGas announced agreements that are expected to resolve substantially all material civil litigation against SoCalGas and Sempra related to the 2015 Aliso Canyon natural gas storage facility leak. As a result of the agreements, SoCalGas will record an after-tax charge of approximately $1.1 billion this month, which will be consolidated in Sempra's third-quarter results. The net, after-tax cash outflows for SoCalGas are expected to ultimately be up to approximately $895 million, after taking into consideration the remaining insurance receivable and other adjustments. The agreements to resolve the referenced claims are subject to obtaining certain minimum participation levels among the plaintiffs and court approval of the settlement allocation process, among other conditions. For additional information about these agreements to resolve Aliso Canyon natural gas storage facility litigation as well as remaining legal and regulatory proceedings related to the leak, please see the Current Report on Form 8-K filed by Sempra and SoCalGas with the Securities and Exchange Commission today. Earnings Guidance In consideration of the foregoing and the continued underlying strength of the company's adjusted financial results, Sempra is updating its 2021 financial guidance. Sempra's full-year 2021 GAAP earnings-per-common-share (EPS) guidance range is updated from $7.41 to $8.01 to $3.83 to $4.43, while the company is also guiding to the upper end of the range for its full-year 2021 adjusted EPS guidance of $7.75 to $8.35. Further, Sempra is reaffirming its full-year 2022 EPS guidance range of $8.10 to $8.70. Today's guidance demonstrates Sempra's confidence in the continued strategic execution and future growth of the company, as it looks to continue delivering long-term sustainable value for shareholders. Sempra remains focused on building top-tier transmission and distribution infrastructure platforms, executing on its robust capital plan, and growing its future earnings. Non-GAAP Financial Measure This press release includes Sempra's 2021 adjusted EPS guidance range, which is a non-GAAP financial measure. See the appendix for additional information regarding this non-GAAP financial measure. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have more than 19,000 talented employees who deliver energy with purpose to over 36 million consumers. With more than $66 billion in total assets at the end of 2020, the San Diego-based company is the owner of one of the largest energy networks in North America serving some of the world's leading economies. The company is helping to advance the global energy transition by enabling the delivery of lower-carbon energy solutions in each market it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture including safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2021 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at www.sempra.com and on Twitter @Sempra. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. Forward-looking statements in this press release include any statements regarding the anticipated benefits of the transactions described herein, the projected impact of these transactions on Sempra's performance or opportunities, and any other statements regarding Sempra's expectations, beliefs, plans, objectives or prospects or future performance or financial condition as a result of or in connection with these transactions. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: the ability to achieve the anticipated benefits of the transactions described herein; the effect of this communication on Sempra's stock prices; the effects on these transactions of industry, market, economic, political or regulatory conditions outside of Sempra's control; the effects on these transactions of disruptions to Sempra's business; satisfying all conditions precedent to the Aliso Canyon settlement agreements, including the participation of a sufficient number of plaintiffs and court approvals; California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the Comisión Federal de Electricidad, California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; cybersecurity threats to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; expropriation of assets, failure of foreign governments and state-owned entities to honor their contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. APPENDIX RECONCILIATION OF SEMPRA 2021 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2021 GAAP EPS GUIDANCE RANGE (Unaudited) Sempra 2021 Adjusted EPS Guidance Range of $7.75 to $8.35 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as follows: $(1,128) million from impacts associated with Aliso Canyon natural gas storage facility litigation at SoCalGas $(69) million impact from foreign currency and inflation and associated undesignated derivatives for the six months ended June 30, 2021 (1) $(87) million net unrealized losses on commodity derivatives for the six months ended June 30, 2021 $50 million equity earnings from investment in RBS Sempra Commodities LLP, which represents a reduction to an estimate of our obligations to settle pending value added tax (VAT) matters and related legal costs at our equity method investment at Parent and other Sempra 2021 Adjusted EPS Guidance is a non-GAAP financial measure. This non-GAAP financial measure excludes the impact from foreign currency and inflation and associated undesignated derivatives and unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Sempra 2021 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2021 GAAP EPS Guidance Range. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles Sempra 2021 Adjusted EPS Guidance Range to Sempra 2021 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. RECONCILIATION OF ADJUSTED EPS GUIDANCE RANGE TO GAAP EPS GUIDANCE RANGE Full-Year 2021 Sempra GAAP EPS Guidance Range (2) $ 3.83 to $ 4.43 Excluded items: Impacts associated with Aliso Canyon litigation 3.58 3.58 Impact from foreign currency and inflation and associated undesignated derivatives (1) 0.22 0.22 Net unrealized losses on commodity derivatives 0.28 0.28 Earnings from investment in RBS Sempra Commodities LLP (0.16) (0.16) Sempra Adjusted EPS Guidance Range $ 7.75 to $ 8.35 Weighted-average common shares outstanding, diluted (millions) (3)(4) 315 (1) Amounts include impacts recorded in equity earnings from our unconsolidated equity method investments. (2) Sempra's prior GAAP EPS Guidance Range for full-year 2021 has been updated to reflect the impacts associated with Aliso Canyon natural gas storage facility litigation. (3) Weighted-average common shares outstanding reflects the conversion of the series A preferred stock that converted on January 15, 2021 and series B preferred stock that converted on July 15, 2021. (4) Includes the impact of the IEnova exchange offer. SOURCE Sempra
Sempra Foundation And GRID Alternatives Announce Contribution To Solar Projects Intended To Improve Energy Access In Mexico
SAN DIEGO and OAKLAND, Calif., Sept. 21, 2021 /PRNewswire/ -- Sempra Foundation, founded by Sempra (NYSE: SRE) (BMV: SRE), today announced a charitable contribution of more than $200,000 to GRID Alternatives to install five grid-tied solar projects on community buildings and off-grid solar projects benefitting 40 families in Mexico. The projects are intended to help improve energy access for vulnerable communities with environmental justice concerns in the country. GRID Alternatives is a national leader in providing access to clean, affordable renewable energy to economic and environmental justice communities in the U.S. and internationally. Last month, GRID Alternatives completed work on the first solar project located at a health center in Tijuana. "We believe that access to resilient, affordable and clean energy is critical to advancing a just and prosperous world," said Lisa Alexander, director and board chair of Sempra Foundation. "Energy access is crucial to health, economic growth and prosperity, and we are proud to support a portfolio of projects that are expected to result in affordable, cleaner energy for those in need." The project in Mexico is part of a broader commitment by Sempra Foundation to help improve lives and build stronger, more resilient communities by expanding energy access. Sempra Foundation and GRID Alternatives identified seven communities and organizations in northern Baja California, Mexico, in need of energy assistance as they work to provide necessities for those they support. The locations include two orphanages, two Indigenous residential communities, a health center, a migrant center and a hospice serving individuals experiencing homelessness and living with HIV/AIDS and tuberculosis. "We are excited to work with Sempra Foundation on these important solar projects to help improve access to reliable electricity and reduce the burden of energy costs for organizations that are doing critical work in Mexico," said Jenean Smith, senior director of international programs for GRID Alternatives. "We are also providing hands-on training for local students pursuing clean energy careers, as pandemic safety protocols allow." Creating a Positive ImpactIn Mexico, more than 10 million residents live without access to reliable electricity. The solar installations are expected to result in: A total of 68 kW of grid-tied solar capacity installed at the locations in Mexico; An estimated 1,930 metric tons of greenhouse gas emissions avoided, the equivalent of planting and growing over 32,000 trees; and Solar installation training is planned for 60 local renewable energy students, at least half of them women. About Sempra FoundationFounded by Sempra in 2007, Sempra Foundation has long been focused on investing its energy and resources into efforts that make a real difference for people when they need it most. Sempra Foundation encourages community engagement by supporting the 19,000 employees who work for Sempra and its operating companies, helping them to deliver their energy with purpose in communities. The foundation does this by matching employee contributions of time and money to any eligible 501(c)(3) charitable organization they choose to support. Sempra Foundation is also exploring the issue of energy access by looking to understand energy poverty at a deeper level and determine how it can help shape a vibrant future for all going forward. The foundation also has a long history of investing in relief efforts when disasters strike, including wildfires, hurricanes, earthquakes and other events. About GRID AlternativesGRID Alternatives is a national leader in making clean, affordable solar power and solar jobs accessible to economic and environmental justice communities. Using a unique, people-first model, GRID develops and implements solar projects that serve qualifying households and affordable housing providers, while providing hands-on job training and connections to clean mobility and battery storage incentive programs. GRID has installed solar for more than 20,000 families to date and helped households and housing providers save $531 million in lifetime electricity costs, while training over 32,000 people. GRID Alternatives has eight regional offices and affiliates serving California, Colorado, the mid-Atlantic region, and Tribal communities nationwide, and serves communities in Nicaragua, Nepal and Mexico. For more information, visit gridalternatives.org. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the Comisión Federal de Electricidad, California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals, and the execution of our operations; cybersecurity threats to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; expropriation of assets, failure of foreign governments and state-owned entities to honor their contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Sempra
Sempra Announces Results Of Cash Tender Offer For Remaining Publicly Owned Shares Of IEnova
SAN DIEGO, Sept. 10, 2021 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced the expiration and final results of its tender offer to purchase for cash the 3.6% of the outstanding shares of IEnova (Infraestructura Energética Nova, S.A.B de C.V.) that are not owned by Sempra. The cash tender offer expired on Sept. 10, 2021. Upon the settlement of the cash tender offer, which is expected to occur on Sept. 17, 2021, Sempra's ownership interest in IEnova will be 99.9%. "IEnova has been a key contributor to Sempra's success while investing in critical infrastructure to support energy reliability and affordability in Mexico," said Trevor Mihalik, executive vice president and chief financial officer of Sempra. "We look forward to building upon IEnova's long history of growth under the Sempra Infrastructure platform as we continue to advance economic collaboration and prosperity in the country." In the cash tender offer, Sempra offered to purchase each outstanding IEnova share it does not own for 78.97 Mexican pesos per share. Of the 52,227,526 IEnova shares eligible for participation in the cash tender offer, 51,014,545 shares were validly tendered and accepted. As consideration to purchase these shares, Sempra will pay the participating IEnova shareholders an aggregate of 4,029 million Mexican pesos. The cash tender offer follows Sempra's completed exchange offer for IEnova's then publicly owned shares, which closed on May 28, 2021, and increased Sempra's ownership of IEnova's shares from 70.2% to 96.4%. Sempra's common stock is now listed on both the New York Stock Exchange and the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B de C.V.) (the "BMV"), and IEnova is expected to submit an application to delist its shares from the BMV following today's expiration of the cash tender offer. Upon such delisting and for at least six months thereafter, Sempra will maintain a trust for the purpose of purchasing the 1,212,981 remaining publicly owned IEnova shares at 78.97 Mexican pesos per share, the same price per share that was offered in the cash tender offer. Holders of such IEnova shares who need more information about the delisting trust should review the definitive Offering Memorandum for the cash tender offer, which is available on Sempra's website, and may contact BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA, the trustee of the delisting trust, at the attention of Eduardo Sánchez Gallegos, July Anais Colunga Rodríguez and/or Verónica Hay Gómez (telephone number +52 (55) 999 181 1608 and email addresses: eduardo.sanchez.gallegos@bbva.com, julyanais.colunga@bbva.com and/or veronica.hay@bbva.com), during the six-month period when the delisting trust will be in effect. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have more than 19,000 talented employees who deliver energy with purpose to over 36 million consumers. With more than $66 billion in total assets at the end of 2020, the San Diego-based company is the owner of one of the largest energy networks in North America serving some of the world's leading economies. The company is helping to advance the global energy transition by enabling the delivery of lower-carbon energy solutions in each market it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture including safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2021 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at www.sempra.com and on Twitter @ Sempra. About IEnovaIEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2020, the company has more than 1,400 employees and approximately $10.5 billion in total assets, making it one of the largest private energy companies in the country. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. Forward-looking statements in this press release include any statements regarding the ability to complete the proposed transactions described herein on the anticipated timeline or at all, the anticipated benefits of these transactions if completed, the projected impact of these transactions on Sempra's performance or opportunities, and any other statements regarding Sempra's expectations, beliefs, plans, objectives or prospects or future performance or financial condition as a result of or in connection with these transactions. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: the timing of the proposed transactions described herein; the ability to satisfy the conditions to closing these transactions; the ability to obtain regulatory approvals necessary to complete these transactions; the ability to achieve the anticipated benefits of these transactions; the effect of this communication on Sempra's or IEnova's stock prices; transaction costs; the diversion of management time on transaction-related issues; the effects on these transactions of industry, market, economic, political or regulatory conditions outside of Sempra's control; the effects on these transactions of disruptions to Sempra's or IEnova's respective businesses; California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the Comisión Federal de Electricidad, California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; cybersecurity threats to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; expropriation of assets, failure of foreign governments and state-owned entities to honor their contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Sempra
SoCalGas Facilities Begin Switch to 100% Renewable Power Under Green Rate Program
LOS ANGELES, Sept. 8, 2021 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced it has begun purchasing renewable electricity under Southern California Edison's (SCE) Green Rate Program everywhere the gas utility is eligible for service by SCE. Including this new arrangement, SoCalGas estimates that it will purchase nearly 53.7 million kilowatt hours of power from renewable sources each year, reducing greenhouse gas emissions by 38,000 metric tons annually, the equivalent of taking more than 8,000 gasoline-powered cars off the road each year. This electricity is instrumental in powering a gas infrastructure that serves SoCalGas's 22 million customers today and can distribute cleaner fuels in the future. A total of 69 operating facilities, representing more than 80% of all electricity demand at these facilities, will now use renewable power from the electrical grid. This purchase places SoCalGas among the largest SCE renewable energy customers. SoCalGas has made plans to enroll its remaining eligible facilities and buildings in a similar renewable power program by the end of the year. "Increasing our usage of 100% renewable grid power at our operating facilities is part of SoCalGas's goal to achieve net zero emissions in our operations and delivery of energy by 2045," said Jawaad Malik, SoCalGas vice president of strategy and sustainability. "A clean energy future will require the continued integration of the electric and gas grids to achieve the clean, reliable, and affordable power that California demands." "Our Green Rate Program was designed for climate leader customers like SoCalGas, who want to reduce greenhouse gas emissions associated with electricity use while contributing to a cleaner, healthier environment," said Mike Marelli, vice president of SCE's Business Customer Division. "Working together with SoCalGas in this leadership role will help contribute to a clean and affordable energy future for all." "SoCalGas switching their eligible facilities to 100% renewable grid energy is a commendable action that will help reduce the state greenhouse gas emissions, and sets an example for companies across the nation who will play a vital role in meeting our ambitious climate goals," said Assemblymember Chris Holden, Chair of the Assembly Utilities and Energy Committee. The purchase of 100% renewable electricity under SCE's Green Rate Program includes five Community Choice Aggregation (CCA) programs that SoCalGas subscribes to within the SCE territory. As part of its climate commitment released in March 2021, SoCalGas announced a goal to achieve net zero energy for its newly constructed buildings and major renovations of buildings over 10,000 square feet by 2025 and 100% of its buildings by 2035. In addition, SoCalGas is in the process of replacing 50% of its over-the-road fleet with electric, hybrid, renewable natural gas, and fuel electric vehicles by 2025. SoCalGas's goal is to replace 100% of its over-the-road fleet with zero emissions over-the-road fleet by 2035. In support of this goal, SoCalGas submitted Charge Ready Transport (CRT) applications with SCE to install electric vehicle charging infrastructures at its Energy Resource Center in Downey and its Compton and Pico Rivera facilities; combined these projects are estimated to net more than 100 new charging stations. For more information on the work SoCalGas is doing to advance the use of renewable gases, click here. About SoCalGasHeadquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to the goal of achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S. in which we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) the ability to realize anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at the Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; cybersecurity threats to the storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; volatility in inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. SOURCE Southern California Gas Company
Sempra and Sempra LNG Pledge $100,000 to Hurricane Ida Relief Efforts
SAN DIEGO, Sept. 3, 2021 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) and Sempra LNG today announced a contribution of $100,000 to the Second Harvest Food Bank of Greater New Orleans and Acadiana, to support immediate relief efforts related to Hurricane Ida. "Our thoughts are with the communities and families impacted by the devastation from Hurricane Ida," said Justin Bird, CEO of Sempra LNG. "We are committed to helping Louisiana recover and rebuild from this storm and are thankful for the first responders, volunteers and organizations like Second Harvest who repeatedly rise to the challenge to help those in need." "We are grateful for this generous gift from Sempra and Sempra LNG to support Second Harvest's disaster response efforts across South Louisiana in the aftermath of Hurricane Ida," said Natalie Jayroe, president and CEO of Second Harvest. This gift will make a big difference for so many communities across South Louisiana, from Terrebonne, Lafourche and Plaquemines Parishes, to the River Parishes, New Orleans and Jefferson Parish, the Northshore, and St. Mary, Iberia and Vermillion Parishes." A subsidiary of Sempra, Sempra LNG owns 50.2% of the Cameron LNG export facility, located in Hackberry, Louisiana, in addition to other operational facilities in Cameron, Calcasieu and Beauregard Parishes. Sempra and Sempra LNG have been an active part of the Louisiana community for nearly two decades. Over the last two years, Sempra, Sempra LNG and Sempra Foundation have committed nearly $1 million to nonprofit organizations providing services in Louisiana in response to natural disasters and the COVID-19 pandemic. About Sempra LNG Sempra LNG's mission is being North America's premier LNG infrastructure company by providing sustainable, safe and reliable access to U.S. natural gas for global markets. Sempra LNG owns interests in Cameron LNG, a 12 Mtpa export facility operating in Hackberry, Louisiana and Energía Costa Azul (ECA) LNG, a 3 Mtpa export facility under construction in Baja California, Mexico. Sempra LNG is developing additional LNG export facilities on the Gulf and Pacific Coasts of North America including Port Arthur LNG in Texas, expansions of Cameron LNG and ECA LNG, as well as supporting pipelines and storage projects. Through disciplined and innovative processes, Sempra LNG is facilitating the global energy transition by leading the responsible development of lower-carbon energy infrastructure investments along the LNG value chain. For more information about Sempra LNG, please visit www.SempraLNG.com. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have more than 19,000 talented employees who deliver energy with purpose to over 36 million consumers. With more than $66 billion in total assets at the end of 2020, the San Diego-based company is the owner of one of the largest energy networks in North America serving some of the world's leading economies. The company is helping to advance the global energy transition by enabling the delivery of lower-carbon energy solutions in each market it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture including safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2021 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at www.sempra.com and on Twitter @Sempra. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances or revocations of permits and other authorizations, and other actions by (i) the U.S. Department of Energy and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations; the impact of the COVID-19 pandemic on our capital projects, regulatory approval processes, supply chain, liquidity and execution of operations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas and the impact of volatility of oil prices on our businesses and development projects; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to the storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, failure of foreign governments and state-owned entities to honor their contracts, and property disputes; volatility in foreign currency exchange, inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra Energy's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not the same company as San Diego Gas & Electric or Southern California Gas Company, and Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not regulated by the California Public Utilities Commission. SOURCE Sempra LNG
Sempra Declares Common And Preferred Dividends
SAN DIEGO, Sept. 2, 2021 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced that its board of directors has declared a $1.10 per share quarterly dividend on the company's common stock, which is payable Oct. 15, 2021, to common stock shareholders of record at the close of business on Sept. 24, 2021. Sempra's board of directors also declared a semi-annual dividend of $24.375 per share on the company's 4.875% Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, Series C, which is payable Oct. 15, 2021, to Series C preferred stock shareholders of record at the close of business on Oct. 1, 2021. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have more than 19,000 talented employees who deliver energy with purpose to over 36 million consumers. With more than $66 billion in total assets at the end of 2020, the San Diego-based company is the owner of one of the largest energy networks in North America serving some of the world's leading economies. The company is helping to advance the global energy transition by enabling the delivery of lower-carbon energy solutions in each market it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture including safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2021 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at www.sempra.com and on Twitter @Sempra. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "target," "outlook," "maintain," "continue," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the Comisión Federal de Electricidad, California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent of partners or other third parties; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, and arbitrations, including, among others, those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our substantial debt service obligations; actions to reduce or eliminate reliance on natural gas, including any deterioration of or increased uncertainty in the political or regulatory environment for local natural gas distribution companies operating in California; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals, and the execution of our operations; cybersecurity threats to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; expropriation of assets, failure of foreign governments and state-owned entities to honor their contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices and our ability to effectively hedge these risks; changes in tax and trade policies, laws and regulations, including tariffs and revisions to international trade agreements that may increase our costs, reduce our competitiveness, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Sempra
Shaping the Future: One Student at a Time
Today’s students will soon be tomorrow’s leaders and investing in the next generation of trailblazers is one way we are working to shape the future for our company and the communities we serve. Take Nika Filippov, the daughter of George Nemeth, who is our LNG Marketing and Commercial Development Director in Texas. A nationally ranked champion fencer, a member of her high school’s robotics club, the founder of The Women’s Empowerment Initiative at Duchesne Academy and an aspiring mechanical engineer, Nika was a worthy scholarship recipient. Not only that, she volunteered at Houston’s Star of Hope Women’s Shelter, the Russian Cultural Center and the Houston Food Bank. One of the criteria a scholarship recipient like Nika must possess is exhibiting our values. Students like Nika embody what drives our high-performance culture and the leadership we celebrate both inside and outside our company. That said, we couldn’t be more proud to name her one of our recipients. Investing in the Future Since its inception in 1998, Sempra has awarded over $4.7 million in scholarships to champion 831 children of employees and their achievements. The scholarships are offered to students who will continue their education at a trade or technical school, community college or four-year college or university. To be considered, students must be children or dependents of Sempra employees and rank highly in a combination of both academic and non-academic criteria. Each year, multiple award amounts are granted, including up to seven $16,000 grand prize awards, up to twenty-six $4,000 one-time awards, and up to six $1,500 one-time awards. “I am so glad that my dad encouraged me to pursue this scholarship program and hope other students are inspired to share their achievements and apply,” said Nika Filippov. “Today I am working as an Assistant Director of Research and Development for a startup called FarUV Solutions and I love that Sempra prompted me to put myself out there and ultimately played a role in helping me realize my dreams of working in the engineering field.” Living Our Values Through Scholarship America, applications are evaluated, one-time award recipients are selected and ten finalists are chosen to be eligible for the four-year grand prize renewable awards. Through the lens of our core values, a cross-functional committee of Sempra executives then interview these finalists and select the recipients of the $16,000 grand prize awards. Our scholarship program continues to grow with our Texas team and Nika is joined by other exceptional recipients. To date, there have been three award winners and a total of $20,000 in scholarships granted to students in the Lone Star state. Additionally, as part of our ongoing commitment to Port Arthur, Texas, Sempra LNG has partnered with organizations like the Port Arthur Education Foundation, NAACP and Black Women’s Coalition to award scholarships to students pursuing their education in STEM fields in Southeast Texas as well. In fact, more than $35,000 have been awarded to-date through these efforts. Building a strong educational foundation helps students pursue their dreams through higher education as well as contribute to developing a strong local workforce. Recognizing students like Nika and doing our part to help shape a bright future by empowering the next generation of leaders is a key part of our high-performance culture.

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*As of December 31, 2025. Numbers may be approximate.

Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).