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Displaying results 76 - 90 of 1201
SDGE Wins Two Chartwell Awards for Excellence in Outage Operations and Communications
SAN DIEGO, July 28, 2025 /PRNewswire/ -- San Diego Gas & Electric (SDGE) announced today that it has been honored with two 2025 Chartwell Best Practices Awards: the Gold Award for Excellence in Outage Operations and the Silver Award for Excellence in Outage Communications. The awards recognize SDGE's leadership in safeguarding communities during extreme weather events and advancing innovative technologies to help reduce wildfire risks and power outages. "These awards reflect SDGE's unwavering commitment to safety, innovation, and customer-focused service," said Kevin Geraghty, chief operating officer and chief safety officer for SDGE. "By combining cutting-edge technology with compassionate, proactive outreach, we're setting a national standard for protecting communities during extreme weather." Operational Excellence Through InnovationThe Gold Award underscores the critical role of SDGE's Wildfire Next Generation System (WiNGS) platform in helping to reduce wildfire risks and outage impacts. Recent upgrades to WiNGS introduced three key benefits: Real-Time Risk Modeling: Integration of weather data, drone imagery, and AI-driven analytics facilitates enhanced de-energization decisions to serve customers more effectively. Temporary Construction Visibility: Automated tracking of temporary poles and infrastructure enhances risk assessments to aid in mitigating Public Safety Power Shutoff (PSPS) impacts. Proactive Community Protection: Enhanced geospatial tools allow crews to prioritize high-risk areas in an effort to restore power faster and reduce disruptions to vulnerable communities. Proactive Communication During CrisisThe Silver Award recognizes SDGE's execution of a multi-layered communication strategy during multiple Public Safety Power Shutoff (PSPS) events prompted by historic Santa Ana winds and extreme fire weather in December 2024 and January 2025. During this period, SDGE successfully informed more than 274,000 customers through coordinated outreach efforts. Key efforts included: Multi-Channel Alerts: Notifications delivered via text, email, voice messages, and the SDGE mobile app in 22 languages, including American Sign Language. Community Relationships: Coordination with public safety agencies, tribal nations, and critical facilities to enhance real-time awareness and resource deployment. Support for Vulnerable Populations: Activating ten Community Resource Centers, personalizing outreach to medical baseline customers, and providing essentials like Wi-Fi, generators and emergency housing. Social Media Engagement: Real-time updates, multilingual content, and myth-busting posts across platforms. SDGE continues to build on its reputation as a national leader in utility wildfire mitigation, leveraging cutting-edge technology and innovations like the newly opened Wildfire and Climate Resilience Center (WCRC) in 2024. The WCRC enhances real-time outage coordination and emergency operations, underscoring SDGE's focus on resilience and safety. To learn more about SDGE and its initiatives, visit SDGEtoday.com. About SDGESDGE is an innovative energy delivery 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 increasing energy delivered from low or zero-carbon sources; accelerating the adoption of electric vehicles; and investing in innovative technologies to ensure the reliable operation of the region's infrastructure for generations to come. SDGE is a recognized leader in its industry and community, as demonstrated by being named Corporate Partner of the Year at the San Diego Business Journal's Nonprofit & Corporate Citizenship Awards and receiving PA Consulting's ReliabilityOne ® Award for Outstanding Reliability Performance for 18 consecutive years. SDGE is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SDGEtoday.com or connect with SDGE on social media @SDGE. SOURCE San Diego Gas & Electric (SDGE)
Sempra to Report Second-Quarter 2025 Earnings August 7
SAN DIEGO, July 21, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) plans to release its second-quarter 2025 earnings by 8 a.m. ET on Thursday, August 7. Jeffrey W. Martin, chairman and CEO, Karen Sedgwick, executive vice president and chief financial officer and other senior leaders from across the company will host a conference call at 12 p.m. ET on Thursday, August 7. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on Sempra's Investors site, part of the company's website, and clicking on the appropriate link. An accompanying slide presentation detailing the earnings results will be published to the Investors site prior to market open on Thursday, August 7. For those unable to attend the live webcast, it will be available on replay a few hours after its conclusion. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra
Five value creation initiatives
Sempra’s strategy focuses on five initiatives to simplify operations, reduce risk and strengthen finances, supporting growth and benefits for communities.
Creating shareholder value: Sempra’s mission-driven strategy
Sempra outlines its 2025 strategy with $13B in infrastructure investment, LNG growth and efficiency moves to unlock long-term shareholder value.
SoCalGas Donates $75,000 to Pasadena Chamber Foundation to Support Altadena Small Business Recovery Following Eaton Fire
LOS ANGELES, June 24, 2025 /PRNewswire/ -- The Pasadena Chamber of Commerce Foundation (PCCF) announced today a $75,000 donation from Southern California Gas Co. (SoCalGas) to support small businesses in Altadena, California, impacted by the recent Eaton Fire. The donation will help local businesses recover and reopen, and will cover critical expenses such as relocation, equipment replacement, and operational restart costs. PCCF will provide assistance to eligible businesses located in or previously operating within the 91001 ZIP code. "As small businesses work to rebuild after the devastation of the Eaton Fire, this support from SoCalGas is both timely and deeply appreciated," said Paul Little, executive director of the Pasadena Chamber Foundation. "These grants will help cover essential costs—from replacing tools and vehicles to restoring internet and phone service—so that business owners can get back on their feet and continue serving the community." The Pasadena Chamber Foundation and Altadena Chamber will jointly review applications and award grants based on need and the potential impact of the proposed use of funds. Business owners can apply at www.pasadenachamberfoundation.org. "The Eaton Fire left a lasting impact on Altadena's small business community, and recovery will take all of us working together," said Los Angeles County Supervisor Kathryn Barger. "I commend SoCalGas for stepping up with this generous donation and thank the Pasadena and Altadena Chambers for their leadership. These grants will provide a vital lifeline to help local businesses rebuild, reopen, and continue serving our neighborhoods." "SoCalGas stands with the Altadena business community during this critical time," said Andy Carrasco, vice president of communications, local government and community affairs at SoCalGas. "We recognize the resilience of these small businesses and the vital role they play in the local economy. Through this collaboration with the Pasadena Chamber Foundation and the Altadena Chamber, we hope to provide meaningful support that helps them recover and thrive." "We encourage any business impacted by the fire to apply for assistance," added Little. "Sometimes, this help can make the difference between reopening and closing for good. We also hope this inspires others to contribute and help Altadena's small business community recover." In January, SoCalGas contributed $400,000 to the YMCA of Metropolitan Los Angeles (LA Y) to expand its Eaton Fire response. The funding enabled the LA Y to provide extended hours, free access to amenities (including showers, Wi-Fi, food, and water), emergency childcare for displaced families and first responders, and access to Teen Centers. Since most of SoCalGas' infrastructure in the fire-affected areas is underground, it remains undamaged by the fires and safe to continue serving customers as they return to their homes and businesses to rebuild. To date, natural gas service has been restored to almost 16,000 customers in the Eaton and Palisades fire areas, and crews will continue that work as customers return to assess, repair and rebuild their properties. The Pasadena Chamber of Commerce Foundation, established in 2017, supports workforce development, internships, and disaster recovery efforts for businesses in the greater Pasadena area. For more information or to apply for a mini-grant, visit www.pasadenachamberfoundation.org. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. About Pasadena Chamber of Commerce Foundation The Pasadena Chamber of Commerce Foundation is dedicated to the improvement and support of our local business community. We support disaster relief efforts for those who suffered loses to their businesses as a result of the Eaton Fire. The Foundation also supports workforce development and youth internship programs. We also provide college scholarships to emancipated foster youth who are matriculating from community college to a four-year college or university. This work is done with and through the Pasadena Chamber of Commerce and Civic Association. We work with education, community, non-profit and business partners as we help provide career exploration and real-world experience for local students. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "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 expressed or implied in any forward-looking statement include: decisions, audits, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitration and other proceedings, and changes (i) to laws and regulations, including those related to tax and trade policy and (ii) due to the results of elections; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance 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 failures in the pipeline system or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and 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. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
SoCalGas Joins Forces with Labor Community Services to Help Address Hunger at 33rd Annual "Stamp Out" Hunger Food Drive
Media assets here LOS ANGELES, June 20, 2025 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) once again joins forces with Labor Community Services (LCS) to support the 33 rd Annual National Association of Letter Carriers' (NALC) "Stamp Out Hunger" Food Drive. This year, SoCalGas will bring 100 volunteers to help sort over 1 million pounds of food donations collected across Los Angeles County. SoCalGas will also present a $25,000 donation to LCS to purchase additional needed food items, supporting thousands of families that continue to face hunger. "The 'Stamp Out Hunger' food drive is a powerful example of what solidarity looks like in action," said Yvonne Wheeler, president of the LA County Federation of Labor, AFL-CIO. "Thanks to the tireless efforts of NALC Branch 24, Labor Community Services, SoCalGas, and hundreds of volunteers, we are delivering hope and nourishment to thousands of families across Los Angeles County during a time of critical need." "With the support of SoCalGas and our community partners, we're not just sorting food—we're building a safety net for families who need it most," said Norma López, executive director of LCS. "We believe that a stronger community starts with meeting basic needs, including addressing hunger," said Maryam Brown, president of SoCalGas. "We're proud to stand with LCS and the labor community to help stamp out hunger and uplift families across Los Angeles." Hunger remains a pressing issue in Los Angeles County. As of late 2024, one in four households—approximately 832,000—struggled to put food on the table, according to a USC Dornsife study. Additionally, 29% of households lack consistent access to healthy and nutritious food. These figures highlight the importance of initiatives like the "Stamp Out Hunger" Food Drive, especially during the summer months when school meal programs are unavailable, and food donations typically decline. In Southern California, the "Stamp Out Hunger" Food Drive is coordinated by NALC Branch 24 in partnership with LCS and various AFL-CIO-affiliated labor unions. This year's campaign includes 38 post offices and 20 community partners. For over 60 years, LCS has supported union families with groceries, holiday food distributions, and emergency assistance. SoCalGas has supported LCS since 2007. In 2024, SoCalGas volunteers helped sort 80,000 pounds of food, which supported approximately 3,280 families. SoCalGas offers programs and services that can help customers manage their natural gas usage and help save energy and money. To see programs that can help customers save, visit socalgas.com/Save. In 2024, SoCalGas contributed $10.2 million in charitable giving, including $5.3 million towards social impact initiatives. Those interested in volunteering with LCS can sign up at lcs-la.org. LCS is also accepting donations—just $40 can feed a family of five for five days. About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. About LCS For over six decades, LCS (in partnership with Los Angeles County Federation of Labor) has been assisting unemployed and underemployed union families with groceries during the year via pantries, the National Association of Letter Carriers Annual Food Drive, and holiday meal distribution. We are committed to improving lives and providing resources and referrals so that we can help union members get ahead. There are families who work 40 hours a week and still struggle. Many are forced to decide between paying rent, purchasing food, or buying medicine for a sick child. We are proud to offer basic services to working women and men who need the most help. T his press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitration and other proceedings, and changes (i) to laws and regulations, including those related to tax, (ii) due to the results of elections, and (iii) in trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance 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 failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and 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. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
They're Baaaa-ck: SDGE Deploys 300 Goats in San Diego, Launches Instagram to Spotlight Wildfire Prevention Measures
SAN DIEGO, June 17, 2025 /PRNewswire/ -- San Diego Gas & Electric (SDGE) is combining hooves-on-the-ground innovation with digital storytelling by launching a new Instagram account, @thegoatsdge, to spotlight its wildfire prevention efforts, just as 300 goats paraded through a San Diego neighborhood to their next grazing site. The event, which drew enthusiastic community support, is part of SDGE's broader wildfire mitigation strategy, using goats to clear flammable vegetation from transmission corridors while now also engaging the public year-round through a novel, behind-the-scenes social media platform. The goats serve as environmentally friendly "vegetation managers," adept at navigating steep and rugged terrain that is less accessible to humans or machinery. As they graze, they consume invasive plant species and their seeds, while naturally fertilizing soil. This process not only reduces erosion but also promotes regrowth of native vegetation. Since 2021, these herds have cleared thousands of high-risk acres across San Diego County. "Our goats may be a visible symbol of our wildfire prevention strategy, but they represent just one element of SDGE's comprehensive, multi-layered approach for community safety and grid resilience," said Brian D'Agostino, vice president of wildfire and climate science at SDGE. "Our record of 17 years without a major utility-related catastrophic wildfire reflects our collective measures to protect the region and continue providing our customers with safe, reliable service, today and into the future." Why goats? Their grazing activity enhances soil health by increasing nitrogen levels, fostering more resilient ecosystems. By replacing herbicides and heavy machinery, goats contribute to both environmental protection and infrastructure safety. Unlike mechanical or chemical methods, goats clear flammable vegetation without generating sparks or runoff, making them ideal for use near homes and sensitive habitats. Follow Our Goats on Social MediaTo further spotlight the importance of emergency preparedness, wildfire safety, and sustainable grazing, SDGE launched a dedicated Instagram account to share the goats' ongoing contributions: @thegoatsdge. Follow their journey as they provide wildfire prevention and safety tips year-round. Wildfire Mitigation Leadership: A 17-Year RecordSDGE's comprehensive wildfire mitigation program integrates cutting-edge technology, ecological solutions and community collaboration to help reduce wildfire risk. The program includes: Wildfire and Climate Resilience Center: One of the most technologically advanced centers in the industry, it serves as a hub for research, development and implementation of innovative solutions. The center combines AI and predictive modeling with emergency response coordination to facilitate swift and integrated action against regional threats. AI and Weather Intelligence: Operates one of the nation's most sophisticated utility-owned weather networks, applies machine learning to predict weather and better understand fire potential and utilizes a full-time utility meteorology team. Grid Resilience: Completed more than 315 miles of strategic undergrounding, installed 1,600 fire-resistant poles and conducted more than 10,000 miles of advanced LiDAR inspections, enhancing reliability and safety for our communities. Community Roots, National ImpactResidents of San Diego neighborhood Clairemont Mesa gathered to cheer as the goats made their way through the neighborhood, escorted by SDGE employees and San Diego Fire-Rescue Department personnel. "These goats are nature's wildfire prevention team, clearing brush in hard-to-reach places and helping us decrease our year-round fire risk," said San Diego Fire- Rescue's Fire Information Officer, Capt. Jason Shanley. "We love that we get to work with the real 'G.O.A.T's of the fire service, and we are grateful for their partnership and hard work to help us keep the community safe and preserve the environment!" As wildfire seasons intensify nationwide, SDGE's innovative approaches, from deploying goats to leveraging AI and advanced technologies, are influencing industry practices throughout the energy sector. About SDGESDGE is an innovative energy delivery 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 increasing energy delivered from low or zero-carbon sources; accelerating the adoption of electric vehicles; and investing in innovative technologies to ensure the reliable operation of the region's infrastructure for generations to come. SDGE is a recognized leader in its industry and community, as demonstrated by being named Corporate Partner of the Year at the San Diego Business Journal's Nonprofit & Corporate Citizenship Awards and receiving PA Consulting's ReliabilityOne ® Award for Outstanding Reliability Performance for 19 consecutive years. SDGE is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SDGEtoday.com or connect with SDGE on social media @SDGE. SOURCE San Diego Gas & Electric (SDGE)
Sempra Infrastructure and JERA Sign Heads of Agreement for U.S. LNG Supply
HOUSTON, June 11, 2025 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), today announced it has executed a non-binding heads of agreement (HOA) with JERA Co. Inc (JERA) for a 20-year sale and purchase agreement for liquefied natural gas (LNG) offtake of 1.5 million tonnes per annum (Mtpa) on a free on board basis from the Port Arthur LNG Phase 2 development project in Jefferson County, Texas. "We are pleased to collaborate with JERA, Japan's largest power generation company and one of the world's largest LNG buyers, as they continue to work with the United States to diversify their sources to help strengthen the resilience and dependability of their energy supply," said Justin Bird, chief executive officer of Sempra Infrastructure. "With this announcement, we continue to make steady progress towards reaching a final investment decision for the project, which is expected to extend the reach of U.S. natural gas to global energy markets." The proposed Port Arthur LNG Phase 2 development project is competitively positioned and is under active marketing. Future phases are also in the early development stage. The project has received all its key permits and is expected to include two liquefaction trains capable of producing approximately 13 Mtpa of LNG, which could increase the total liquefaction capacity of the Port Arthur LNG facility from approximately 13 Mtpa for Phase 1, which is under construction, to up to approximately 26 Mtpa. The project received authorization from the U.S. Department of Energy in May to export U.S. LNG to countries that do not have a free-trade agreement with the U.S. The project also received authorization from the Federal Energy Regulatory Commission in September 2023. In June 2024, Sempra Infrastructure and a subsidiary of Aramco signed a non-binding heads of agreement contemplating both a long-term LNG offtake agreement and an equity investment in the Port Arthur LNG Phase 2 project. In July 2024, Sempra Infrastructure announced that Bechtel had been selected for a fixed-price engineering, procurement and construction contract for the project. The Port Arthur LNG Phase 1 project is currently under construction and expected to achieve commercial operation in 2027 and 2028 for trains 1 and 2, respectively. The development of the Port Arthur LNG Phase 2 project remains subject to a number of risks and uncertainties, including completing the required commercial agreements, securing and/or maintaining all necessary permits, obtaining financing and reaching a final investment decision, among other factors. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building, operating and investing in modern energy infrastructure, such as LNG, energy networks and low-carbon solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers to safe and reliable energy and advancing energy security. Sempra Infrastructure is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SempraInfrastructure.com or connect with Sempra Infrastructure on social media @SempraInfra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, audits, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, and other actions, including the failure to honor contracts and commitments, by the (i) U.S. Department of Energy, Comisión Nacional de Energía, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on our ability to pass through higher costs to customers due to volatility in inflation, interest and foreign currency exchange rates and commodity prices and the imposition of tariffs; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and 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 Infrastructure and Sempra Infrastructure Partners are not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and none of Sempra Infrastructure, Sempra Infrastructure Partners nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra Infrastructure
Port Arthur LNG Phase 2 Receives Non-FTA Export Authorization
HOUSTON, May 29, 2025 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), today announced that the U.S. Department of Energy (DOE) issued a permit to the Port Arthur LNG Phase 2 development project to allow the export of up to approximately 13.5 million tonnes per annum (Mtpa) of U.S.-produced liquefied natural gas (LNG) to countries that do not have a free-trade agreement (FTA) with the U.S. The non-FTA permit, which is the first issued since the completion of the DOE's most recent public interest study, is a major regulatory milestone for the proposed Port Arthur LNG Phase 2 project, which could be a part of helping to narrow the U.S. trade deficit, support the energy security goals of U.S. allies across the globe and strengthen the U.S. economy. "Today's regulatory approval marks another milestone for the proposed Port Arthur LNG Phase 2 development project, as we make steady progress towards reaching a final investment decision," said Justin Bird, chief executive officer of Sempra Infrastructure. "The project can be a key contributor to further establishing the U.S. as a leader in global energy markets, supporting U.S. trade goals and providing economic opportunity at the local, state and national levels in the U.S." The Phase 2 project is competitively positioned and is under active marketing and development. The project received authorization from the Federal Energy Regulatory Commission in September 2023 and is expected to include two liquefaction trains capable of producing approximately 13 Mtpa of LNG, which would increase the total liquefaction capacity of the Port Arthur LNG facility from approximately 13 Mtpa for Phase 1, which is currently under construction, to up to approximately 26 Mtpa. Future phases are also in the early development stage. In June 2024, Sempra Infrastructure and a subsidiary of Aramco signed a non-binding heads of agreement contemplating both a long-term LNG offtake agreement and an equity investment in the Port Arthur LNG Phase 2 project. In July 2024, Sempra Infrastructure announced that Bechtel had been selected for a fixed-price engineering, procurement and construction (EPC) contract for the project. The Port Arthur LNG Phase 1 project is currently under construction and consists of trains 1 and 2, as well as two LNG storage tanks and associated facilities. Construction of the project continues to progress, and the expected commercial operation dates for train 1 and train 2 are 2027 and 2028, respectively. The development of the Port Arthur LNG Phase 2 project remains subject to a number of risks and uncertainties, including completing the required commercial agreements, securing and/or maintaining all necessary permits, obtaining financing and reaching a final investment decision, among other factors. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building, operating and investing in modern energy infrastructure, such as LNG, energy networks and low-carbon solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers to safe and reliable energy and advancing energy security. Sempra Infrastructure is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SempraInfrastructure.com or connect with Sempra Infrastructure on social media @SempraInfra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, audits, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, and other actions, including the failure to honor contracts and commitments, by the (i) U.S. Department of Energy, Comisión Nacional de Energía, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on our ability to pass through higher costs to customers due to volatility in inflation, interest and foreign currency exchange rates and commodity prices and the imposition of tariffs; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and 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 Infrastructure and Sempra Infrastructure Partners are not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and none of Sempra Infrastructure, Sempra Infrastructure Partners nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra Infrastructure
Sempra Declares Common Dividend
SAN DIEGO, May 15, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) today announced that its board of directors has declared a $0.645 per share quarterly dividend on the company's common stock, which is payable July 15, 2025, to common stock shareholders of record at the close of business on June 26, 2025. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra
Sempra Reports First-Quarter 2025 Results
SAN DIEGO, May 8, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) today reported first-quarter 2025 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $906 million or $1.39 per diluted share, compared to first-quarter 2024 GAAP earnings of $801 million or $1.26 per diluted share. On an adjusted basis, first-quarter 2025 earnings were $942 million or $1.44 per diluted share, compared to $854 million or $1.34 per diluted share in 2024. "We are pleased to report a solid quarter for Sempra, which is the direct result of continued focus on delivering strong financial performance while making steady progress on our strategic initiatives," said Jeffrey W. Martin, chairman and CEO of Sempra. "We remain committed to our disciplined growth strategy, which centers on delivering safer and more reliable energy to the nearly 40 million consumers we serve." The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP earnings, reconciled to adjusted earnings, for first-quarter 2025 and 2024. (Dollars and shares in millions, except EPS) Three months ended March 31, 2025 2024 GAAP Earnings $ 906 $ 801 Impact from foreign currency and inflation on monetary positions in Mexico (8) 41 Net unrealized losses on derivatives 35 12 Net unrealized losses on interest rate swaps related to Port Arthur LNG Phase 1 project 9 — Adjusted Earnings (1) $ 942 $ 854 Diluted Weighted-Average Common Shares Outstanding 653 635 GAAP EPS $ 1.39 $ 1.26 Adjusted EPS (1) $ 1.44 $ 1.34 1) See Table A for information regarding non-GAAP financial measures. Sempra Texas Oncor Electric Delivery Company LLC (Oncor) is executing on its $36.1 billion five-year capital plan in the country's fastest growing energy market. The state of Texas continues to demonstrate significant growth in electricity demand with the Electric Reliability Council of Texas (ERCOT) setting a new all-time winter peak demand of 80.5 gigawatts (GW) in the month of February. In response to growing electricity demand, Oncor continues to advance critical transmission and distribution infrastructure projects. These investments also support population growth in Texas and increased reliability for the ERCOT market. At the end of the first quarter of 2025, Oncor had approximately 1,100 active transmission point of interconnection requests in queue, split almost evenly between generation and large commercial and industrial customers. This represents a 35% increase in active requests as compared to the end of first-quarter 2024. Additionally, Oncor increased its premises served by almost 19,000 in the first quarter and built, rebuilt or upgraded nearly 800 miles of transmission and distribution power lines in the first quarter of 2025. Oncor continues to prepare for a comprehensive base rate proceeding utilizing a test year of calendar year 2024, with filing currently targeted for the second quarter of 2025. In October 2024, the Public Utility Commission of Texas ("PUCT") approved the local projects and import paths of the Permian Basin Reliability Plan ("PBRP"). In April 2025, the PUCT decided that the import paths would be built using 765-kV. ERCOT updated its estimated cost for the entirety of the PBRP to approximately $15 billion. Also in January 2025, ERCOT filed a regional transmission expansion plan with the PUCT, which included two options to serve the load projection of 150 gigawatts by 2030. ERCOT estimated that the cost of either plan would be approximately $20 billion. Taken together, the PBRP and the remaining portion of the Regional Transmission Plan would cost approximately $35 billion. Oncor expects to build a significant portion. Sempra California Serving roughly 25 million consumers, Sempra California is a dual-utility platform focused on connecting people to safe, reliable and cleaner energy. In March 2025, San Diego Gas & Electric Company (SDGE) and Southern California Gas Company (SoCalGas) filed their applications to update their respective costs of capital with the California Public Utilities Commission (CPUC) for the period of 2026 to 2028, subject to the cost of capital adjustment mechanism after 2026. A final decision from the CPUC is expected by the end of the year. Throughout the quarter, SDGE and SoCalGas advanced strategic programs to modernize their energy networks to meet growing demand, while also advancing community safety and system reliability. In March, the CPUC approved the expansion of SDGE's Westside Canal Battery Energy Storage facility in California's Imperial Valley. This expansion project will co-locate an additional 100 megawatts (MW) of energy storage capacity at the existing 131 MW facility and is projected to be fully operational this summer. Also in March, the CPUC approved SoCalGas' first renewable natural gas (RNG) procurement contract under Senate Bill 1440, which sets RNG procurement targets for the state's natural gas utilities. The contract represents an important milestone for the RNG industry and for California's methane emissions reduction goals. Sempra Infrastructure Strong global demand for cleaner and more secure energy continues to support Sempra Infrastructure's development activities across its liquefied natural gas (LNG), energy networks and low-carbon solutions business lines. During the first quarter, Sempra Infrastructure continued to make progress advancing five significant construction projects including infrastructure projects in the U.S. Gulf coast and northern Mexico. Energía Costa Azul LNG Phase 1 continues to target the start-up of commercial operations in spring of 2026, and construction at Port Arthur LNG Phase 1 remains on time and on budget. Earnings Guidance Sempra is updating its full-year 2025 GAAP earnings-per-common-share (EPS) guidance range to $4.25 – $4.65, reflecting actual results through the first quarter, affirming its full-year 2025 adjusted EPS guidance range of $4.30 to $4.70, and affirming its full-year 2026 EPS guidance range of $4.80 to $5.30. The company has also guided to the high-end or above its projected long-term EPS compound annual growth rate of 7% to 9% for 2025 through 2029. Non-GAAP Financial Measures Non-GAAP financial measures include Sempra's adjusted earnings, adjusted EPS and adjusted EPS guidance range. See Table A for additional information regarding these non-GAAP financial measures. Value Creation Initiatives In addition to today's quarterly results, the company also reiterated its five value creation initiatives in 2025, designed to continue simplifying Sempra's business model, mitigating risk and improving financial performance. "These value creation initiatives aim to increase long-term value for shareholders, employees, customers and other stakeholders," said Martin. "In the first quarter, we made steady progress against our plan of execution. As we extend this work across 2025, we expect to advance the company's ability to deliver improved earnings growth and drive enhanced benefits for consumers and communities across our service territories." Consistent with these value creation initiatives, the company announced Sempra Infrastructure is targeting the sales of Ecogas México, S. de R.L. de C.V., the owner of three utility franchises providing natural gas distribution services in Mexico, as well as a minority stake in Sempra Infrastructure Partners (SI Partners). SI Partners' minority owners, affiliates of Kohlberg Kravis Roberts & Co. L.P. and Abu Dhabi Investment Authority, have certain rights of first offer for the sale of a minority interest in SI Partners. More details on the progress of these items will be shared in the second quarter earnings call. Together, these sales transactions are expected to be completed over the next 12-18 months and to be accretive to the company's earnings-per-share forecast, while also enhancing credit. These transactions also remain subject to reaching agreement on acceptable pricing and other terms, securing required regulatory and other approvals, finalizing definitive contracts, and other factors and considerations. Internet Broadcast Sempra will broadcast a live discussion of its earnings results over the internet today at 12 p.m. ET with the company's senior management. Access is available by logging onto the Investors section of the company's website, sempra.com/investors. The webcast will be available on replay a few hours after its conclusion at sempra.com/investors. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Nacional de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries, and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and the imposition of tariffs, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document. SEMPRA Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended March 31, 2025 2024 REVENUES Utilities: Natural gas $ 2,362 $ 2,109 Electric 1,059 1,056 Energy-related businesses 381 475 Total revenues 3,802 3,640 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (493) (554) Cost of electric fuel and purchased power (52) (89) Energy-related businesses cost of sales (119) (109) Operation and maintenance (1,343) (1,212) Depreciation and amortization (640) (594) Franchise fees and other taxes (196) (184) Other income, net 91 99 Interest income 34 13 Interest expense (433) (305) Income before income taxes and equity earnings 651 705 Income tax expense (57) (172) Equity earnings 325 348 Net income 919 881 Earnings attributable to noncontrolling interests (2) (69) Preferred dividends (11) (11) Earnings attributable to common shares $ 906 $ 801 Basic earnings per common share (EPS): Earnings $ 1.39 $ 1.27 Weighted-average common shares outstanding 651,992 632,821 Diluted EPS: Earnings $ 1.39 $ 1.26 Weighted-average common shares outstanding 653,018 635,354 SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA ADJUSTED EARNINGS TO SEMPRA GAAP EARNINGS Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2025 and 2024 as follows: Three months ended March 31, 2025: $8 million impact from foreign currency and inflation on our monetary positions in Mexico $(35) million net unrealized losses on commodity derivatives $(9) million net unrealized losses on interest rate swaps related to the initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) Three months ended March 31, 2024: $(41) million impact from foreign currency and inflation on our monetary positions in Mexico $(12) million net unrealized losses on commodity derivatives Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity and interest rate 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. 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 for historical periods these non-GAAP financial measures to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. RECONCILIATION OF ADJUSTED EARNINGS TO GAAP EARNINGS AND ADJUSTED EPS TO GAAP EPS (Dollars in millions, except per share amounts; shares in thousands) Pretax amount Income tax benefit (1) Non-controlling interests Earnings Diluted EPS Pretax amount Income tax expense (benefit) (1) Non-controlling interests Earnings Diluted EPS Three months ended March 31, 2025 Three months ended March 31, 2024 Sempra GAAP Earnings and GAAP EPS $ 906 $ 1.39 $ 801 $ 1.26 Excluded items: Impact from foreign currency and inflation on monetary positions in Mexico $ (2) $ (10) $ 4 (8) (0.01) $ 7 $ 53 $ (19) 41 0.06 Net unrealized losses on commodity derivatives 69 (15) (19) 35 0.05 23 (3) (8) 12 0.02 Net unrealized losses on interest rate swaps related to PA LNG Phase 1 project 65 (4) (52) 9 0.01 — — — — — Sempra Adjusted Earnings and Adjusted EPS $ 942 $ 1.44 $ 854 $ 1.34 Weighted-average common shares outstanding, diluted 653,018 635,354 (1) Income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA 2025 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2025 GAAP EPS GUIDANCE RANGE Sempra 2025 Adjusted EPS Guidance Range of $4.30 to $4.70 excludes items (after the effects of income taxes and, if applicable, NCI) as follows: $8 million impact from foreign currency and inflation on our monetary positions in Mexico $(35) million net unrealized losses on commodity derivatives $(9) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project Sempra 2025 Adjusted EPS Guidance is a non-GAAP financial measure. This non-GAAP financial measure excludes significant items that are generally not related to our ongoing business activities and/or infrequent in nature. This non-GAAP financial measure also excludes the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity and interest rate derivatives for the three months ended March 31, 2025, 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. This non-GAAP financial measure does not contemplate the anticipated impacts of the proposed sale of Ecogas México, S. de R.L. de C.V. and the proposed sale of a minority interest in Sempra Infrastructure Partners, which combined, are expected to be accretive. Sempra 2025 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2025 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 2025 Adjusted EPS Guidance Range to Sempra 2025 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 2025 Sempra GAAP EPS Guidance Range $ 4.25 to $ 4.65 Excluded items: Impact from foreign currency and inflation on monetary positions in Mexico (0.01) (0.01) Net unrealized losses on commodity derivatives 0.05 0.05 Net unrealized losses on interest rate swaps related to PA LNG Phase 1 project 0.01 0.01 Sempra Adjusted EPS Guidance Range $ 4.30 to $ 4.70 Weighted-average common shares outstanding, diluted (millions) 654 SEMPRA Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31, December 31, 2025 2024 (1) ASSETS Current assets: Cash and cash equivalents $ 1,739 $ 1,565 Restricted cash 20 21 Accounts receivable – trade, net 2,107 1,983 Accounts receivable – other, net 432 397 Due from unconsolidated affiliates 15 13 Income taxes receivable 66 90 Inventories 568 559 Prepaid expenses 227 255 Regulatory assets 86 60 Fixed-price contracts and other derivatives 136 91 Greenhouse gas allowances 218 217 Other current assets 51 34 Total current assets 5,665 5,285 Other assets: Restricted cash 3 3 Regulatory assets 4,272 3,937 Greenhouse gas allowances 1,053 845 Nuclear decommissioning trusts 865 875 Dedicated assets in support of certain benefit plans 566 585 Deferred income taxes 194 172 Right-of-use assets – operating leases 1,177 1,177 Investment in Oncor Holdings 15,871 15,400 Other investments 2,501 2,534 Goodwill 1,602 1,602 Other intangible assets 286 292 Wildfire fund 258 262 Other long-term assets 1,656 1,749 Total other assets 30,304 29,433 Property, plant and equipment, net 63,041 61,437 Total assets $ 99,010 $ 96,155 (1) Derived from audited financial statements. SEMPRA Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31, December 31, 2025 2024 (1) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 2,113 $ 2,016 Accounts payable – trade 1,976 2,238 Accounts payable – other 179 208 Dividends and interest payable 909 773 Accrued compensation and benefits 398 558 Regulatory liabilities 490 141 Current portion of long-term debt and finance leases 2,331 2,274 Greenhouse gas obligations 218 217 Other current liabilities 1,320 1,251 Total current liabilities 9,934 9,676 Long-term debt and finance leases 33,286 31,558 Deferred credits and other liabilities: Due to unconsolidated affiliates 355 352 Regulatory liabilities 3,847 3,817 Greenhouse gas obligations 755 506 Pension and other postretirement benefit plan obligations, net of plan assets 188 168 Deferred income taxes 5,988 5,845 Asset retirement obligations 3,751 3,737 Deferred credits and other 2,704 2,708 Total deferred credits and other liabilities 17,588 17,133 Equity: Sempra shareholders' equity 31,643 31,222 Preferred stock of subsidiary 20 20 Other noncontrolling interests 6,539 6,546 Total equity 38,202 37,788 Total liabilities and equity $ 99,010 $ 96,155 (1) Derived from audited financial statements. SEMPRA Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Three months ended March 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 919 $ 881 Adjustments to reconcile net income to net cash provided by operating activities 402 469 Net change in working capital components (35) 319 Distributions from investments 291 232 Changes in other noncurrent assets and liabilities, net (95) (50) Net cash provided by operating activities 1,482 1,851 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (2,336) (1,933) Expenditures for investments (486) (193) Purchases of nuclear decommissioning and other trust assets (292) (197) Proceeds from sales of nuclear decommissioning and other trust assets 329 217 Other — (1) Net cash used in investing activities (2,785) (2,107) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (380) (362) Issuances of common stock 10 10 Repurchases of common stock (57) (40) Issuances of debt (maturities greater than 90 days) 2,941 2,044 Payments on debt (maturities greater than 90 days) and finance leases (994) (846) Decrease in short-term debt, net (70) (498) Advances from unconsolidated affiliates 44 45 Distributions to noncontrolling interests (38) (111) Contributions from noncontrolling interests 34 474 Other (14) (16) Net cash provided by financing activities 1,476 700 Effect of exchange rate changes on cash, cash equivalents and restricted cash — 1 Increase in cash, cash equivalents and restricted cash 173 445 Cash, cash equivalents and restricted cash, January 1 1,589 389 Cash, cash equivalents and restricted cash, March 31 $ 1,762 $ 834 SEMPRA Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES (Dollars in millions) Three months ended March 31, 2025 2024 EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES Sempra California $ 724 $ 582 Sempra Texas Utilities 146 183 Sempra Infrastructure 146 131 Segment earnings attributable to common shares 1,016 896 Parent and other (110) (95) Sempra earnings attributable to common shares $ 906 $ 801 CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT Sempra California $ 1,094 $ 1,143 Sempra Infrastructure 1,241 790 Segment totals 2,335 1,933 Parent and other 1 — Total Sempra $ 2,336 $ 1,933 CAPITAL EXPENDITURES FOR INVESTMENTS Sempra Texas Utilities $ 486 $ 193 Total Sempra $ 486 $ 193 SEMPRA Table E OTHER OPERATING STATISTICS Three months ended March 31, 2025 2024 UTILITIES Sempra California Gas sales (Bcf) (1) 116 122 Transportation (Bcf) (1) 131 142 Total deliveries (Bcf) (1) 247 264 Total gas customer meters (thousands) 7,122 7,089 Electric sales (millions of kWhs) (1) 715 935 Community Choice Aggregation and Direct Access (millions of kWhs) 3,432 3,169 Total deliveries (millions of kWhs) (1) 4,147 4,104 Total electric customer meters (thousands) 1,535 1,522 Oncor Electric Delivery Company LLC (Oncor) (2) Total deliveries (millions of kWhs) 39,006 37,313 Total electric customer meters (thousands) 4,065 3,988 Ecogas México, S. de R.L. de C.V. Natural gas sales (Bcf) 1 1 Natural gas customer meters (thousands) 165 159 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (millions of kWhs) 702 980 Wind and solar (millions of kWhs) (1) 746 719 (1) Includes intercompany sales. (2) Includes 100% of the electric deliveries and customer meters of Oncor, in which we hold an 80.25% interest through our investment in Oncor Electric Delivery Holdings Company LLC. SEMPRA Table F STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Sempra California Sempra Texas Utilities (1) Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Three months ended March 31, 2025 Revenues $ 3,401 $ 426 $ (25) $ 3,802 Depreciation and amortization (562) (76) (2) (640) Interest income 2 19 13 34 Interest expense (2) (225) (77) (131) (433) Income tax (expense) benefit (52) (22) 17 (57) Equity earnings — $ 148 177 — 325 Earnings attributable to noncontrolling interests — — (2) — (2) Other segment items (3) (1,840) (2) (299) 18 (2,123) Earnings (losses) attributable to common shares $ 724 $ 146 $ 146 $ (110) $ 906 Three months ended March 31, 2024 Revenues $ 3,141 $ 519 $ (20) $ 3,640 Depreciation and amortization (521) (72) (1) (594) Interest income 3 5 5 13 Interest expense (205) — (100) (305) Income tax (expense) benefit (83) (109) 20 (172) Equity earnings — $ 185 163 — 348 Earnings attributable to noncontrolling interests — — (69) — (69) Other segment items (3) (1,753) (2) (306) 1 (2,060) Earnings (losses) attributable to common shares $ 582 $ 183 $ 131 $ (95) $ 801 (1) Substantially all earnings attributable to common shares are from equity earnings. (2) Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project. (3) Includes cost of natural gas, cost of electric fuel and purchased power, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra California; O&M for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, O&M, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure. SOURCE Sempra
STEM Mentorship Event Brings Together LA Dodgers Foundation and SoCalGas to Inspire the Next Generation of STEM Professionals
Media assets here LOS ANGELES, April 30, 2025 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and the Los Angeles Dodgers Foundation (LADF) hosted an inspiring STEM event today at SoCalGas' Energy Resource Center (ERC), welcoming students from the Brotherhood Crusade, Kollab Youth Workforce Development Program, and Dodgers Dreamteam participants. The event brought together 50 students from across the Los Angeles area to learn about the exciting opportunities in science, technology, engineering, and mathematics (STEM). Students engaged in a variety of sessions, including breakout modules on the life of an engineer, sustainability, and the application of STEM in sports. These sessions offered hands-on learning experiences and opportunities to interact with industry professionals. Attendees also enjoyed a networking lunch with SoCalGas employees, LADF representatives, and members of SoCalGas' and the Los Angeles Dodgers Employee Resource Groups (ERG), and speed networking providing a platform for meaningful conversations and mentorship about career paths in STEM. Key speakers, including Andy Carrasco, vice president of communications, local government and community affairs at SoCalGas, and Rachel Resnick, chief program officer at LADF, shared personal stories and emphasized the importance of higher education, specifically in STEM. SoCalGas is committed to creating opportunities that spark interest and introduce new skills to help individuals pursue careers in the energy sector. Over the last five years, SoCalGas has sponsored more than 100 STEM events, awarded scholarships, and donated over $2.5 million to organizations that support workforce development. By partnering with the community it serves and fostering interest in STEM fields, SoCalGas is helping develop the next generation of skilled professionals. These initiatives can open doors to strong careers for local youth while contributing to the overall growth and innovation within the STEM industry. "SoCalGas is deeply committed to the transformative power of education. This STEM event is a testament to our unwavering dedication to nurturing the next generation of innovators and leaders," said Andy Carrasco, vice president of communications, local government and community affairs at SoCalGas. "By equipping these young minds with tools and inspiration to pursue STEM careers and education, we are not just investing in their futures, but a brighter, more innovative world for all." Students also toured SoCalGas' H2IE, an innovative microgrid with the first clean hydrogen-powered microgrid and home model in North America. The ERC was also the first building in California to receive Leadership in Energy and Environmental Design (LEED) "green building" recognition and is a model of advanced, energy-efficient, and environmentally sensitive building technology. "This event is a fantastic opportunity for our youth to explore the possibilities within STEM fields. We are proud to collaborate with SoCalGas and LADF to provide these valuable experiences that can shape their futures," said Charisse Bremond-Weaver, president and CEO of the Brotherhood Crusade. In addition, SoCalGas supports various workforce development programs to prepare the next generation of professionals. These initiatives include partnerships with organizations to provide training, mentorship, and career advancement opportunities. SoCalGas also collaborates with local educational institutions to offer internships and apprenticeships, helping students gain practical experience and skills needed for careers in the energy sector. For more information on SoCalGas' workforce development initiatives, visit: Promoting STEM and Energy Education | SoCalGas About SoCalGas SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading North American energy infrastructure company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas. T his press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks related to (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, (iii) obtaining third-party consents and approvals and (iv) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitration and other proceedings, and changes (i) to laws and regulations, including those related to tax, (ii) due to the results of elections, and (iii) in trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance 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 failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and 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. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. 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 Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
Sempra to Report First-Quarter 2025 Earnings May 8
SAN DIEGO, April 21, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) plans to release its first-quarter 2025 earnings by 8 a.m. ET on Thursday, May 8. Jeffrey W. Martin, chairman and CEO, Karen Sedgwick, executive vice president and chief financial officer and other senior leaders from across the company will host a conference call at 12 p.m. ET on Thursday, May 8. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on Sempra's Investors site, part of the company's website, and clicking on the appropriate link. An accompanying slide presentation detailing the earnings results will be published to the Investors site by 8 a.m. ET on Thursday, May 8. For those unable to attend the live webcast, it will be available on replay a few hours after its conclusion. About Sempra Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets. The company is recognized as a leader in sustainable business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra
SoCalGas Declares Preferred Dividends
The board of directors of Southern California Gas Company (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company.
Sempra Announces Continuation of Capital Recycling Program
Divesting natural gas distribution business in Mexico Selling minority interest in Sempra Infrastructure SAN DIEGO, March 31, 2025 /PRNewswire/ -- Sempra (NYSE: SRE) today announced several strategic actions to advance its ongoing commitment to simplify the company's portfolio and recycle capital in support of strong growth in its Texas and California utilities. Sempra intends to sell certain energy infrastructure assets in Mexico, as well as a minority stake in Sempra Infrastructure Partners (Sempra Infrastructure). The sales proceeds are expected to be recycled into the company's five-year capital campaign, with a focus on its U.S. utilities. "At Sempra, we continually review opportunities to realign our portfolio to support the growth and expansion of our Texas and California utilities, while also maintaining a strong balance sheet," said Jeffrey W. Martin, chairman and CEO of Sempra. "With today's announcement, we believe we can successfully accomplish both objectives as we continue our work to drive enhanced long-term value for our shareholders. Further, these actions are designed to advance our company's broader effort to simplify the business and minimize reliance on future issuances of common equity to fund the company's five-year capital plan." Sale of Assets in Mexico Sempra Infrastructure is targeting the sale of Ecogas México, S. de R.L. de C.V. (Ecogas), which holds three utility franchises and provides natural gas distribution service to Mexico's Mexicali, Chihuahua and La Laguna-Durango regions. Ecogas is the fifth largest distribution network in Mexico with more than 5,000 kilometers of distribution pipelines serving natural gas to more than 600,000 residential, commercial and industrial consumers. Serving the northern region of Mexico, Ecogas provides reliable natural gas services while supporting local and cross-border trade and economic growth. Moreover, the regions served by Ecogas continue to benefit from strong industrial demand growth from nearshoring of various industries. Opportunity to Highlight Value in LNG Franchise The company is also initiating a process to sell a minority interest in Sempra Infrastructure, which is one of the leading energy infrastructure platforms in North America with a market leadership position in liquefied natural gas (LNG) assets and related pipeline and storage infrastructure. The proposed sale follows Sempra's previous divestiture of a 20% non-controlling interest in 2021 to Kohlberg Kravis Roberts & Co. L.P. for an implied equity value of approximately $16.9 billion. That transaction was followed by a second sale of a non-controlling interest of 10% in 2022 to the Abu Dhabi Investment Authority for an implied equity value of approximately $17.9 billion. Since that time, Sempra Infrastructure has continued to increase its market value through the expansion of its LNG franchise, which enjoys geographic advantages on both the Pacific and Gulf Coasts of North America. For instance, Energía Costa Azul LNG Phase 1 continues to target the commencement of commercial operations in spring of 2026, and construction at Port Arthur LNG Phase 1 remains on time and on budget with Trains 1 and 2 expected to come online in 2027 and 2028, respectively. Moreover, the company continues to advance development of Port Arthur LNG Phase 2, which is receiving strong commercial interest. Sempra Infrastructure is under active commercial discussions with world-class companies for participation in the Phase 2 development project, which is anchored by a non-binding Heads of Agreement for LNG offtake and a proposed equity investment with a subsidiary of Saudi Aramco, as well as a fixed-price engineering, procurement and construction contract with Bechtel Energy. The company is targeting a final investment decision in 2025, pending the execution of definitive commercial agreements, obtaining permits and securing financing, among other factors. "At Sempra Infrastructure, we are pursuing a series of exciting LNG growth opportunities that are expected to further America's position as a global leader in LNG exports," said Justin Bird, chief executive officer of Sempra Infrastructure. "By focusing on the critical need for new energy infrastructure in North America, our company's pipeline of development projects is expected to provide benefits to a broader base of customers and differentiated growth for decades to come." Opportunity to Increase Long-Term Value The sale processes being announced today are part of a broader set of five value creation initiatives for 2025, which aim to increase long-term value for shareholders, employees, customers and other stakeholders. To learn more about Sempra's value creation initiatives, visit sempra.com/annualreport. Taken together, these initiatives are designed to: Divest non-core assets in support of recycling proceeds into new investments in the company's Texas and California utilities; Strengthen the company's balance sheet, while efficiently funding growth and improving the quality and affordability of services; and Reward Sempra's owners with improved visibility to consistent growth in earnings and cash flows and long-term value creation. Upon completion, these transactions are expected to be accretive to the company's earnings-per-share forecast, while also enhancing credit. The sales transactions referenced in today's announcement are expected to be completed over the next 12-18 months. These transactions are subject to reaching agreement on acceptable pricing and other terms, securing required regulatory and other approvals, finalizing definitive contracts and other factors and considerations. About Sempra Sempra is an energy infrastructure company with one of the largest energy networks in North America. Through its operations in California, Texas and beyond, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets and delivering everyday energy to nearly 40 million consumers. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in the Dow Jones Sustainability Index North America. More information is available at sempra.com and on social media @Sempra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. 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 otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks related to (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, (iv) obtaining third-party consents and approvals and (v) third parties honoring their contracts and commitments; changes to our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitration, property disputes and other proceedings, and changes (i) to laws and regulations, including those related to tax and the energy industry in Mexico, (ii) due to the results of elections, and (iii) in trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and 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 Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document. SOURCE Sempra

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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).