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Displaying results 706 - 720 of 1201
SoCalGas and UCSB Announce Completion of Energy Efficiency Projects that Reduce Energy Use by Over 24% and Save Over $66,000 Annually
LOS ANGELES, June 18, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and the University of California Santa Barbara (UCSB) today announced the successful completion of two joint energy efficiency projects. In total, the projects are saving the university 66,000 therms of energy every year. The reduction in energy use equates to removing about 350 metric tons of greenhouse gas emissions, the same as a reduction of 866,516 miles driven by passenger vehicles per year. Both projects were part of California's joint Energy Efficiency Partnership between state universities and investor-owned utilities. Over the last five years, SoCalGas has supported over 184 energy efficiency projects, saving university campuses over 6,000,000 therms of energy—a $6 million savings— and providing over $6,300,000 in incentives through this state program. In 2013, the University of California (UC) system announced its Carbon Neutrality Initiative, which commits UC to emitting net zero greenhouse gases from its buildings and vehicle fleet by 2025, something no other major university system has done. SoCalGas' energy efficiency programs support the campus and their ambitious conservation goals. "SoCalGas is committed to providing affordable, clean energy solutions to our customers," said Brian Prusnek, director of customer programs and assistance at SoCalGas. "We value our partnership with the UC and CSU university systems, and through our energy efficiency solutions, we are working together to lower utility bills and curb carbon emissions." "Whole-building energy efficiency projects at UCSB have proven to be strong financial investments and have helped us create more comfortable, safer, and more controllable environments for campus end users," said Jordan Sager, energy manager at UCSB. "SoCalGas has been a great partner to work with on these projects from start to finish." The first of the two UCSB projects began in 2018 as part of the university's high opportunity projects and programs (HOPP's) initiative. SoCalGas and Southern California Edison co-funded the project, which investigated how best to update two important laboratories at the university. The utilities conducted an energy management plan to document and list the savings, costs and measures to implement an energy efficient system. The utilities identified multiple measures to reduce energy consumption in the building's lighting and HVAC systems by installing occupancy sensors, wireless thermostats and low-power LED lights. The campus also added high efficiency dedicated natural gas boilers to each building. A new chilled water system including a cooling tower, and pumps were also installed. Following the installation of the energy efficient system, the utilities verified the energy systems using the Normalized Metered Energy Consumption (NMEC) approach, which uses building-level metered energy data to verify savings. The project resulted in natural gas savings of 60,959 therms, and the university received an incentive from SoCalGas of $152,000. UCSB also installed an ozone laundry system to support their laundering of uniforms and sports gear for the university's athletic department which was eligible for a rebate from SoCalGas in the amount of $5,850 and will save the university approximately 5,880 therms of energy. SoCalGas continues to be a leader in researching and developing new technologies that improve energy efficiency and protect the environment. Over the past five years, SoCalGas energy efficiency programs delivered more than 204 million therms in energy savings, enough natural gas usage for 125,000 households a year, and reducing greenhouse gas emissions by over 1,000,000 metric tons, the equivalent of removing more than 230,000 cars from the road annually. These advances have also helped save SoCalGas customers nearly $225 million in utility bill costs. To learn more about SoCalGas' energy efficiency programs and services, visit socalgas.com or call 800-427-2200. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
SoCalGas and the Latino Restaurant Association Partner to Feed Healthcare Workers in Kern County
LOS ANGELES, June 15, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and the Latino Restaurant Association (LRA) today held meal distribution events at Mercy Hospital Southwest in Bakersfield and Adventist Health Delano Regional Medical Center. Hundreds of healthcare workers received a free meal provided by local Latino-owned restaurants. The events were made possible thanks to a grant from SoCalGas to LRA's Feed Frontliners Program, which provides support to healthcare workers and restaurants affected by the COVID-19 pandemic. "Mercy Hospitals of Bakersfield is overwhelmed by the generosity of the SoCalGas and the LRA," said Toni Harper, vice president at Mercy Hospitals of Bakersfield. "As we continue to weather the pandemic, our caregivers are working tirelessly to ensure every patient and family has the best care. A gesture such as this by SoCalGas and the LRA renews their spirit and for that, we are eternally grateful." "This pandemic has impacted all of us in different ways. Our goal with these events is to express our appreciation for healthcare workers and support local restaurant owners whose businesses have been affected by the pandemic," said Robert Duchow, public affairs manager at SoCalGas. "We are proud to continue supporting the communities we serve every day." SoCalGas employees from Bakersfield also volunteered at the events, distributing meals and care packages to healthcare workers. Meals for the events were prepared by LRA member restaurants, Nuestro Mexico in Bakersfield and by Hole-in-One in Delano. SoCalGas' grant to the Feed Frontliners Program helped fund the purchases of the meals, which will support the restaurants whose business has been impacted by the pandemic. "The Latino Restaurant Association is so thankful to SoCalGas for partnering with us to bring our Feed Frontliners Program to the Bakersfield and Delano community," said Lilly Rocha, LRA Board Chair. "SoCalGas has been with us from the beginning, starting with a handful of meals to local ICU units to 250 meals at Adventist Health Delano Regional Medical Center and Mercy Hospital respectively. The strength of the program is in supporting two vulnerable and impacted communities - frontline healthcare workers combating COVID-19 every day and restaurants who are struggling to stay open." SoCalGas is dedicated to supporting the health, safety, and wellness of our community. In addition to supporting the LRA's Feed Frontliners Program events, the utility has donated more than $2 million to nonprofit organizations to support the region's workforce, feed the hungry, provide bill assistance to customers, and more as part of the COVID-19 recovery. For more information about SoCalGas' response to the COVID-19 pandemic, please visit www.socalgas.com/coronavirus. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America , delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About the Latino Restaurant Association The Latino Restaurant Association promotes, supports and educates restaurateurs and small business owners to ensure the equitable economic growth of the Latino restaurant sector. As a member association we work to bring our member community together to advocate for the critical issues impacting our industry and provide resources and educational opportunities to support efficient business practices. The LRA strives to create an all-inclusive Latino restaurant platform for the country. SOURCE Southern California Gas Company
Sempra Energy Declares Common And Preferred Dividends
SAN DIEGO, June 11, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its board of directors has declared a $1.045 per share quarterly dividend on the company's common stock, which is payable July 15, 2020, to common stock shareholders of record at the close of business on June 26, 2020. Sempra Energy's board of directors also declared a quarterly dividend of $1.50 per share on Sempra Energy's 6% Mandatory Convertible Preferred Stock, Series A. Additionally, Sempra Energy's board of directors declared a quarterly dividend of $1.6875 per share on the company's 6.75% Mandatory Convertible Preferred Stock, Series B. The preferred stock dividends will be payable July 15, 2020, to preferred stock shareholders of record at the close of business on July 1, 2020. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in sustainability, and diversity and inclusion, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward- looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Sempra Energy Partners With Texas Economic Development Corporation
SAN DIEGO, June 10, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that the company has joined the Texas Economic Development Corporation (TxEDC), an independently funded and operated 501(c)(3) nonprofit organization promoting economic and business development in the state. "As Texas dedicates itself to recovering from the COVID-19 pandemic, we are proud to support the TxEDC as it works to promote the economic vitality and international presence of the state," said Jeffrey W. Martin, chairman and CEO of Sempra Energy. "We look forward to continuing our collaboration with Texas leaders to grow and expand the state's leading position in the worldwide energy landscape. Our company is focused on developing critical energy infrastructure needed to support the Texas economy and the transformation of America into a leader in energy exports." The work of the TxEDC is a key part of Texas Gov. Greg Abbott's economic development plan to make Texas an even stronger state. "The State of Texas is grateful for Sempra Energy's continued partnership to help strengthen the Texas economy and improve the livelihoods of all Texans," said Gov. Greg Abbott. " Texas remains the best state in the nation for business because of partners like Sempra Energy and we welcome this decision to join the TxEDC. The TxEDC plays a vital role in attracting more investments to Texas, creating more jobs, and empowering entrepreneurs and job creators across the state. By partnering with Sempra Energy, the TxEDC will help usher in even greater economic prosperity for communities across the Lone Star State." Sempra Energy is dedicated to investing in the communities in which it serves and operates, including Texas. Over the last three years Sempra Energy, Sempra LNG and the Sempra Energy Foundation have committed more than $2.5 million to nonprofit organizations providing services in Texas, in addition to the community investments of Oncor Electric Delivery Company LLC (Oncor), headquartered in Dallas. Sempra Energy indirectly owns approximately 80% of Oncor. Continuing to Grow in Texas Sempra Energy continues to advance its presence in Texas as it focuses on growing in the most attractive markets in North America. The company plans to open a " Center of Excellence" in Houston later this year. In addition to expanded office space for regional business operations of Sempra LNG, the Houston Center of Excellence will showcase innovative technologies developed by the Sempra Energy family of companies to support today's evolving energy market. Sempra Energy began operating in Texas more than 20 years ago. In May 2019, the company acquired a 50% limited-partnership interest in Sharyland Utilities, LLC. In 2018, Sempra Energy became the majority owner of Oncor, the largest electric transmission and distribution utility in Texas, serving more than 10 million consumers. In 2019, Sempra Energy also supported Oncor's acquisition of InfraREIT, Inc. Through these three acquisitions, Sempra Energy has made investments in Texas totaling more than $20 billion in enterprise value. Additionally, Sempra LNG is developing the proposed Port Arthur LNG export project in Jefferson County, Texas. Port Arthur LNG is slated to be a multibillion-dollar infrastructure investment designed to enable the delivery of natural gas sourced from Texas to world markets. The project, if completed, would also support manufacturing, small businesses and the community by creating thousands of jobs and contributing to the local economy. For more information on Sempra Energy's commitment to Texas, please visit www.sempra.com/Texas. About Sempra Energy Sempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in sustainability, and diversity and inclusion, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward- looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Sempra Energy And State Grid International Development Target To Close Sale Of Chilquinta Energía In Chile By June 24
SAN DIEGO, June 9, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) and State Grid International Development Limited (SGID) have jointly announced today that both companies remain firmly committed to completing the sale of Sempra Energy's equity interests in its Chilean businesses, including its 100% stake in Chilquinta Energía S.A. (Chilquinta Energía), and are targeting June 24 as the closing date. "As we move to close the transaction, our primary focus continues to be on the safety and well-being of our employees, customers and communities," said Dennis V. Arriola, executive vice president and group president of Sempra Energy. "We have received all the necessary approvals for the sale of our Chilean investments from the required governmental agencies in Chile and we plan to proceed with the closing with a target date of June 24." In addition to Chilquinta Energía, Sempra Energy also intends to sell a 100% interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energía and third parties, and 100% ownership of Eletrans S.A., which owns, constructs, operates and maintains power transmission facilities. "Our planned investment in Chile is very strategic to the overall long-term growth of SGID and we are fully supportive of the Chilean government's efforts to protect its citizens from the spread of COVID-19," said Hu Yuhai, Chairman of SGID. "Our Board of Directors remains fully committed to completing this transaction with Sempra Energy. We expect confirmation on the last remaining filing in China with the National Development and Reform Commission (NDRC) very soon." In April, Sempra Energy announced the completion of the sale of its Peruvian businesses, including its 83.6% interest in Luz del Sur S.A.A., to an affiliate of China Yangtze Power International (Hongkong) Co., Limited, generating approximately $3.6 billion in total cash proceeds, subject to post-closing adjustments. The sale of Sempra Energy's Chilean businesses is subject to various conditions to closing, including confirmation on the last remaining filing with the NDRC. The completion of the Chilean transactions will conclude Sempra Energy's planned sale of its South American businesses. Proceeds from the sales will be used to further strengthen the company's balance sheet and liquidity position. About Chilquinta Energía Chilquinta Energía is the third-largest distributor of electricity in Chile. Chilquinta Energía provides electricity to approximately 2 million people in the regions of Valparaíso and Maule in central Chile, and is also active in the development and operation of electric transmission lines. About State Grid International Development LimitedSGID, a wholly-owned subsidiary of State Grid Corporation of China (SGCC), is incorporated in Hong Kong as a limited liability company. It leverages SGCC's operational strengths and financial support to actively pursue investment opportunities worldwide and improve the operating efficiency of its portfolio of companies. SGID currently has investments in the Philippines, Brazil, Portugal, Australia, Hong Kong SAR, Italy, Greece and Oman. SGCC, headquartered in Beijing, is the world's largest power utility corporation, and has extensive experience in constructing and operating electricity transmission and distribution networks. The company's power grid network covers 26 provinces in China, accounting for more than 88% of China's territory, and serves a population of over 1.1 billion. The company ranked fifth in 2019 Fortune Global 500. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in sustainability, and diversity and inclusion, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward- looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
SoCalGas Declares Preferred Dividends
LOS ANGELES, May 21, 2020 /PRNewswire/ -- The board of directors of Southern California Gas Co. (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred Stock $0.375 per share Preferred Stock, Series A $0.375 per share The dividends are payable on July 15, 2020, to shareholders of record on June 10, 2020. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas's vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
Sempra Energy Reports Corporate Sustainability Initiatives
SAN DIEGO, May 20, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today released its 12 th corporate sustainability report, "Shaping the Future," outlining goals and key performance indicators across four broad categories: world-class safety, workforce engagement, operational resiliency and the energy transition. "Our mission-focused, values-led approach enables the Sempra Energy family of companies to safely deliver reliable energy to over 35 million consumers across North America, including hospitals, first-responder facilities, home offices and essential businesses during this pandemic," said Jeffrey W. Martin, chairman and chief executive officer of Sempra Energy. "As discussed during our Investor Day, we are focused on managing the risks and opportunities that improve business resiliency and sustainable growth. Our high-performance culture is key, because it helps us adapt and focus on the right things, as our 18,000 employees work to improve the lives of our customers by delivering energy with purpose every day." Through its family of companies, Sempra Energy operates new, smart energy infrastructure that connects residential and business consumers alike to lower-carbon choices for their energy supply. With a mission that is focused on building North America's premier energy infrastructure company, Sempra Energy is focused on key growth markets in California, Texas, Mexico and global LNG export markets. The company's operations are largely concentrated in energy transmission and distribution, a section of the energy value chain that the company believes limits commodity exposure and provides attractive risk-adjusted returns. To advance its strategy, Sempra Energy is focused on measurable improvements in safety, employee development, operations and the energy transition. The company's sustainability approach is rooted in extensive stakeholder dialogue and deep enterprise-wide alignment around ambitious goals, all championed at the highest levels of the organization. This commitment to sustainability is why Sempra Energy is recognized as an industry leader, earning numerous recognitions, including being named to the Dow Jones Sustainability World Index the past two years, the only North American utility to earn that honor. Sempra Energy's corporate sustainability report includes review and reporting of various topics, including safety performance, employee engagement and several goals related to the energy transition. The report is aligned with the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD) disclosure frameworks. Read Sempra Energy's full 2019 corporate sustainability report at sempra.com/sustainability. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in sustainability, and diversity and inclusion, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward- looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Cameron LNG Begins Production At Train 3 Of Liquefaction Facility
SAN DIEGO, May 18, 2020 /PRNewswire/ -- Sempra LNG, a subsidiary of Sempra Energy (NYSE: SRE), today announced that Cameron LNG has begun producing liquefied natural gas (LNG) from the third and final liquefaction train of its Phase 1 liquefaction-export project in Hackberry, Louisiana. "Congratulations to the entire Cameron LNG team for reaching this last major milestone toward full commercial operations for Phase 1 of this critical energy infrastructure facility," said Justin Bird, chief executive officer of Sempra LNG. "We look forward to the completion of this world-class LNG facility that will be an outlet for exporting abundant U.S. natural gas to world markets. Sempra LNG is proud of the thousands of engineering and construction jobs and millions of tax revenues the project has provided to Southwest Louisiana. As the construction phase of the project concludes with a remarkable record of over 88 million hours without a lost time incident, we are confident in Cameron LNG's commitment to operating safely and continuing to support the local economy and community that has welcomed us since day one." Commercial operations for Train 3 under Cameron LNG's tolling agreements remain on track to begin in the third quarter of 2020. Cameron LNG achieved commercial operations of Train 1 and Train 2 in August 2019 and February 2020, respectively. Cameron LNG is jointly owned by affiliates of Sempra LNG, TOTAL S.A., Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha. Sempra Energy indirectly owns 50.2% of Cameron LNG. Sempra LNG's mission is to be the premier North American LNG infrastructure company, by sustainably and safely providing U.S. producers of natural gas leading access to global markets. Sempra LNG owns a 50.2% interest in Cameron LNG, a 12 million ton per annum (Mtpa) export facility operating in Hackberry, Louisiana, and is currently developing additional LNG export facilities on the Gulf Coast and Pacific Coast of North America through Cameron LNG expansion, Port Arthur LNG in Texas and Energía Costa Azul LNG in Mexico. The successful development and ultimate construction of Sempra Energy's LNG export projects are subject to a number of risks and uncertainties and there can be no assurance that any of these projects will be completed. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in sustainability and diversity and inclusion, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances of permits and other authorizations, and other actions by the U.S. Department of Energy, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on the company's website at www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not the same company as San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra LNG, Cameron LNG, Port Arthur LNG and ECA LNG are not regulated by the California Public Utilities Commission. SOURCE Sempra LNG
SoCalGas Employees Lead Drive to Get Hundreds of Hygiene Kits to Those Transitioning out of Homelessness through LA Family Housing
LOS ANGELES, May 14, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) staff and LA Kings staff, fans and mascot Bailey today held a donation event for LA Family Housing, to deliver hundreds of hygiene items for people transitioning out of homelessness. SoCalGas and the Sempra Energy Foundation also teamed up to donate $50,000 to LA Family Housing (LAFH). Photos and videos from the event are available here. "SoCalGas recognizes the importance of supporting our communities and especially those struggling with, or on the verge of homelessness. People from every walk of life are in need of the basics – many people seeking assistance for first time," said Gillian Wright, senior vice president of customer services at SoCalGas and board chair at LA Family Housing. "SoCalGas is in the business of making the basics affordable – affordable heat, hot water and more energy efficient homes. Over the years our employees have raised millions to support homeless initiatives. It's wonderful to see our employees and partners stepping up in this time of unprecedented need." "The LA Kings and SoCalGas enjoy a tremendous partnership and it is exciting to come together during this difficult, unique time to assist our community," said Jennifer Pope, Vice President, Community Relations and Team Services at LA Kings. "Collectively -- with our fans -- the entire Kings family can help support these efforts and supporting LAFH." "LAFH has always depended on a strong base of community support to help our participants as they transition out of homelessness," said Stephanie Klasky-Gamer, president and CEO of LA Family Housing. "As we navigate the complexities of the COVID -19 crisis, we have never been more grateful for dedicated community partners like SoCalGas and the LA Kings, who have found creative ways to remain engaged and meet the needs of our most vulnerable neighbors." Each year LA Family Housing distributes 12,000 hygiene kits to people who are unhoused, living in temporary housing, and to families to have recently moved into a place of their own. During the COVID-19 crisis, they need an additional 3,000 kits each month to meet the need. Through community support and partnerships with leading organizations like SoCalGas and the LA Kings, LA Family Housing is working diligently to meet the needs of the most vulnerable while safeguarding program participants, staff, and volunteers. For the donation drive, participants could either mail in supplies, purchase items from LAFH's Amazon wish list or attend the event at LAFH's North Hollywood headquarters to drop off their donated items from their vehicles. LAFH accepted new items such as cloth face coverings, thermometers, shampoo, conditioner, body wash and more. LA Family Housing is a non-profit organization helping people to transition out of homelessness and poverty through a continuum of housing enriched with supportive services. The organization's vision is to be a leader in providing solutions to end homelessness. The non-profit operates 29 properties of temporary, permanently affordable, and permanent supportive housing across Los Angeles, with headquarters and most services based in the San Fernando Valley. SoCalGas is a longtime supporter of LA Family Housing, having collaborated with the organization since 1998 and given over $132,000 in support. In March, SoCalGas announced a $1 million donation to nonprofit organizations throughout its service area to support the region's workforce, feed the hungry, and provide bill assistance to customers most affected by COVID-19. Together, the Sempra Energy family of companies – including SoCalGas' sister California utility San Diego Gas and Electric, and the Sempra Energy Foundation – are stepping up with more than $8 million to those in need during this crisis. About LA Family Housing LA Family Housing (LAFH) is a non-profit organization that helps people break the cycle of homelessness and regain stability through a proven model of housing enriched with supportive services. Since their inception in 1983, LA Family Housing has become one of the largest developers of affordable housing and homeless services providers in Los Angeles. Today they have 29 properties of temporary, permanently affordable, and permanent supportive housing across Los Angeles, with headquarters and most services based in the San Fernando Valley. A regional leader in homeless services for families and individuals, LA Family Housing helps more than 11,000 people transition out of homelessness each year. About Los Angeles Kings For more than half a century, the Los Angeles Kings have been bringing excitement, passion and Stanley Cup glory to Southern California, delighting our deeply loyal fan base by being a leader in incredible events and employing the greatest players in NHL history. In addition, the legacy of the LA Kings is an ultimate first-class commitment both to our fans and our partners with an unmatched pledge to improving our community by serving as a model sports franchise. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas's vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
SoCalGas & Sempra Energy Foundation Donate $50,000 and Commercial Kitchen Equipment to Covenant House California Shelter for Homeless Youth
LOS ANGELES, May 7, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and Covenant House California (CHC) today announced that SoCalGas and the Sempra Energy Foundation together have donated $50,000 to Covenant House California, a non-profit shelter that provides sanctuary and support for homeless and trafficked youth, ages 18-24. The $50,000 donation includes, $25,000 from SoCalGas and $25,000 from the Sempra Energy Foundation. In addition, SoCalGas, is donating commercial cooking equipment for the shelter's kitchen. Please see here for photos and video from today's delivery of the kitchen equipment to Covenant House. "SoCalGas is proud to support our friends at Covenant House of California with this donation," said Mia DeMontigny, Vice President Controller and Chief Financial Officer at SoCalGas and Covenant House California board member. "Covenant House works tirelessly to provide critical and life-changing services to youth experiencing homelessness in Los Angeles and we are proud to be able to support their efforts." "SoCalGas is showing what an amazing partner they are, during the greatest time of need for young people experiencing homelessness. This gift helps us to be able to meet the needs of more youth than ever who do not have a safe place to sleep right now, as the result of the pandemic. We are so incredibly grateful to SoCalGas for stepping up in such a significant way for the most vulnerable people in our community," said Bill Bedrossian, CEO Covenant House of California. CHC provides not only housing services including transitional living programs but also support services such as street outreach, medical and mental health services, and career and education programs. Covenant House California has over 100 youth currently living at its Los Angeles campus and served over 240,000 meals to youth throughout California last year. The donations from both SoCalGas and the Sempra Energy Foundation will supplement the cost of food for the shelter's Los Angeles location as well as support other services the non-profit provides. Last month, SoCalGas announced a $1 million donation to nonprofit organizations throughout its service area to support the region's workforce, feed the hungry, and provide bill assistance to customers most affected by COVID-19. Together, the Sempra Energy family of companies – including SoCalGas' sister California utility San Diego Gas and Electric and the Sempra Energy Foundation – are stepping up with more than $8 million to those in need during this crisis. SoCalGas has suspended service disconnections for its core customers until further notice. This means no residential or small business customer will have their natural gas turned off due to non-payment. SoCalGas has also temporarily waived late fees for small business customers. Late fees are never charged for residential customers. Natural gas continues to flow and is being delivered to SoCalGas' 22 million customers across southern and central California, just as it does on a "typical" day. There is no shortage of supply of natural gas for homes or businesses or to power plants that generate electricity. For more information about SoCalGas' response to the COVID-19 pandemic, please visit www.socalgas.com/coronavirus. Covenant House California COVID-19 Response Covenant House California is ACTIVELY serving nearly 5,000 youth a year who are experiencing homelessness across the state in Los Angeles, Oakland, and Berkeley. Simultaneously, each night in California, there are over 10,000 youth experiencing homelessness who don't have a safe place to sleep. Their need for shelter, sustenance, medical attention, sanctuary, and support has not quelled in the midst of social distancing and the shuttering of non-essential businesses; IT HAS DRASTICALLY INCREASED. The work of providing care to an already traumatized population of youth centers upon human connection, contact, and engagement. To that end, our shelters are sheltering, our street outreach programs are outreaching, and our counselors are counseling; we make a commitment to every youth we serve that, when they are with us or working with us, they will receive absolute respect and unconditional love, and we will not relent in that covenant. We work with a highly traumatized population. As a result, their response to this crisis – and our society's collective anxiety – requires a targeted, trauma-informed approach from a mental health standpoint. Our counselors are working double-time to ensure that youth who are scared are enveloped with love and support and reinforcing their inherent strengths that fuel healthy coping mechanisms – mechanisms that will prevent returns to homelessness. Our Rapid Rehousing programs are structured to provide support to youth who have worked unbelievably hard to maintain a job and their first apartment lease. Many of those youth are now faced with the elimination of their employment (i.e., those working in the service industries). We are not willing to stand by and watch youth lose everything as a result of their work stoppage or shortage, and as a result, we are paying their rent – or whatever portion of their rent that they cannot afford. In fact, a significant majority of our youth lost their employment just one week into the pandemic. This has created the need for additional food and staffing costs on our campuses as well as the need to have increased programming on our sites to ensure that youth are being constructive and staying healthy during this time where employment prospects are very low for them. We will not stop doing this work. We have made that commitment to the youth we serve and, frankly, to the communities we serve. Every unrestricted dollar that can be mustered makes the fulfillment of that commitment less strenuous. In a time when everything is constantly changing, this funding allows us to rapidly target emergencies as they arise. About Covenant House California Covenant House California (CHC) is a non-profit youth shelter with locations in Hollywood, Oakland and Berkeley that provides sanctuary and support for homeless and trafficked youth, ages 18-24. CHC believes that no young person deserves to be homeless; that every young person in California deserves shelter, food, clothing, education and most importantly, to be loved. Now serving over 5,000 youth a year, CHC has served over 200,000 homeless youth since we've opened our doors. CHC provides a full continuum of services to meet the physical, emotional, educational, vocational, and spiritual well-being of young people, in order to provide them with the best chance for success in independence. www.covenanthousecalifornia.orgFacebook: @covenanthousecaliforniaTwitter: @CovenantHouseCA About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
Sempra Energy Reports First-Quarter 2020 Earnings Results
SAN DIEGO, May 4, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today reported first-quarter 2020 earnings of $760 million, or $2.53 per diluted share, compared to first-quarter 2019 earnings of $441 million, or $1.59 per diluted share. On an adjusted basis, the company's first-quarter 2020 earnings were $932 million, or $3.08 per diluted share, compared to $534 million, or $1.92 per diluted share, in the first quarter of 2019. "In the midst of a global pandemic, we are reminded that our employees face health risks in their daily lives and unique challenges in performing their jobs. That is why our first priority has been, and continues to be, the safety of our employees, customers and communities," said Jeffrey W. Martin, chairman and CEO of Sempra Energy. "We remain focused on advancing our strategic priorities and committed to delivering safe and reliable energy to over 35 million consumers, including the many hospitals and primary care facilities across our communities." "Our strong financial results this quarter reflect the focused execution of our strategic plan," added Martin. "We plan to continue to strengthen our balance sheet and maintain solid liquidity across our companies, while pursuing our disciplined growth plan." 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 the first quarter of 2020 and 2019. Three months ended March 31, (Dollars, except EPS, and shares, in millions) 2020 2019 (Unaudited) GAAP Earnings $ 760 $ 441 Impacts Associated with Aliso Canyon Litigation 72 - Losses from Investment in RBS Sempra Commodities LLP 100 - Tax Impacts from Expected Sale of South American Businesses - 93 Adjusted Earnings (1) $ 932 $ 534 GAAP Diluted Weighted-Average Common Shares Outstanding 314 277 GAAP Earnings Per Diluted Common Share (2) $ 2.53 $ 1.59 Adjusted Diluted Weighted-Average Common Shares Outstanding (1),(3) 314 291 Adjusted Earnings Per Diluted Common Share (1),(2),(3) $ 3.08 $ 1.92 1) Represents a non-GAAP financial measure. See Table A for information regarding non-GAAP financial measures. 2) To calculate Q1-2020 GAAP earnings per common share (EPS) and Adjusted EPS, preferred stock dividends of $36 million are added back to GAAP Earnings and Adjusted Earnings because of the dilutive effect of the company's Series A and Series B mandatory convertible preferred stock in the quarter. 3) To calculate Q1-2019 Adjusted EPS, preferred stock dividends of $26 million are added back to Adjusted Earnings and approximately14 million shares are included in Adjusted Diluted Weighted-Average Common Shares Outstanding because of the dilutive effect of thecompany's Series A mandatory convertible preferred stock in the quarter. Responding to COVID-19As part of its commitment to deliver energy with purpose, Sempra Energy is dedicated to the safety and well-being of its employees, customers, partners and communities. The company has activated an enterprise-wide Task Force designed to respond to the impacts of the global pandemic and identify and mitigate risks across the Sempra Energy family of companies. Sempra Energy's operating companies are providing critical energy services to hospitals, healthcare facilities, first responders and others on the frontline of the crisis. The Sempra Energy family of companies has donated approximately $8 million to COVID-19 relief efforts in areas where they operate, including California, Texas, Louisiana, Mexico and South America. This includes a $1.75 million Nonprofit Hardship Fund created by the Sempra Energy Foundation to help small to medium-sized nonprofits serve critical needs related to COVID-19. Strengthening Balance Sheet and Liquidity Position with Peru SaleLast month, Sempra Energy announced the completion of the sale of its Peruvian businesses, including its 83.6% interest in Luz del Sur S.A.A., to an affiliate of China Yangtze Power International (Hongkong) Co., Limited, generating approximately $3.6 billion in total cash proceeds, subject to post-closing adjustments. Sempra Energy continues to advance the sale of its Chilean assets, including its 100% interest in Chilquinta Energía S.A., to China State Grid International Development Limited for $2.23 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions. The completion of these transactions will conclude Sempra Energy's planned sale of its South American businesses. Proceeds from the sales will be used to further strengthen the company's balance sheet and help fund the company's record capital plan. Providing Essential Services at U.S. Utility Infrastructure BusinessesSempra Energy's U.S. utility infrastructure businesses continue to deliver safe and reliable service to their customers. In March 2020, the Federal Energy Regulatory Commission approved the cost of capital settlement terms that SDG&E and all settling parties reached in October 2019. The settlement agreement provides for a return on equity (ROE) of 10.6%, consisting of a base ROE of 10.1% plus an additional 50 basis points for participation in the California Independent System Operator service area. Additionally, SDG&E and SoCalGas filed a joint petition for modification in April 2020 to revise their 2019 General Rate Case (GRC) to add two additional attrition years, resulting in a transitional five-year GRC period from 2019 to 2023. Oncor Electric Delivery Company LLC (Oncor) continues to execute on its five-year capital plan of approximately $11.9 billion. Approximately 90% of projects in Oncor's transmission budget through 2021 do not need further approvals before commencing construction. These projects are designed to support growth, as well as strengthen and expand the grid in Oncor's service territory. Advancing Energy Infrastructure Projects Sempra Energy recently announced that Cameron LNG has reached the final commissioning stage for Phase 1 of the liquefaction-export project in Hackberry, Louisiana, as the third of three liquefaction trains for Phase 1 has achieved mechanical completion, introduced feed gas and initiated the start-up process. This achievement keeps the project on track to produce liquefied natural gas (LNG) from the third and final train in the second quarter of 2020 and begin commercial operations in the third quarter of 2020. Cameron LNG achieved commercial operations of Train 1 and Train 2 under its tolling agreements in August 2019 and February 2020, respectively. Sempra Energy's share of full-year run-rate earnings from the Phase 1 project is anticipated to be between $400 million and $450 million annually starting in 2021 when all three trains are in commercial operations under Cameron LNG's tolling agreements. Sempra Energy indirectly owns 50.2% of Cameron LNG. Cameron LNG is jointly owned by affiliates of Sempra LNG, TOTAL S.A., Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha. In March, Port Arthur LNG, LLC and Bechtel Oil, Gas, and Chemicals, Inc. signed a fixed-price EPC contract for the Port Arthur LNG liquefaction project under development in Jefferson County, Texas. Given current market dynamics, a final investment decision is now expected for the project in 2021. Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) continues to develop infrastructure projects that provide consumers in Mexico access to cleaner, more reliable energy. IEnova is actively monitoring the current situation but as a result of the current pandemic, it is reasonable to expect that some of the construction capital will be deferred from 2020 to 2021. Earnings GuidanceSempra Energy's updated full-year 2020 GAAP EPS guidance range is $11.88 to $13.02. The updated range reflects a revision to the estimated gain on the sale of the company's South American businesses and litigation-related charges at SoCalGas and the company's prior investment in RBS Sempra Commodities LLP. Today, the company is reaffirming its full-year 2020 adjusted EPS guidance range of $6.70 to $7.50, and is reaffirming its full-year 2021 EPS guidance range of $7.50 to $8.10. Non-GAAP Financial MeasuresNon-GAAP financial measures include Sempra Energy's adjusted earnings and adjusted EPS for the first quarters of 2020 and 2019, adjusted diluted weighted-average common shares outstanding for the first quarter of 2019, and full-year 2020 adjusted EPS guidance. See Table A for additional information regarding these non-GAAP financial measures. Internet BroadcastSempra Energy will broadcast a live discussion of its earnings results over the Internet today at 12 p.m. ET with senior management of the company. Access is available by logging onto the website at www.sempra.com. For those unable to log onto the live webcast, the teleconference will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 8909332. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward- looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the COVID-19 pandemic on our (i) ability to commence and complete capital and other projects and obtain regulatory approvals, (ii) supply chain and current and prospective counterparties, contractors, customers, employees and partners, (iii) liquidity, resulting from bill payment challenges experienced by our customers, decreased stability and accessibility of the capital markets and other factors, and (iv) ability to sustain operations and satisfy compliance requirements due to social distancing measures or if employee absenteeism were to increase significantly; the resolution of civil and criminal litigation, regulatory investigations and proceedings, and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas and the impact of the extreme volatility and unprecedented decline of oil prices on our businesses and development projects; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SEMPRA ENERGY Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended March 31, (Dollars in millions, except per share amounts; shares in thousands) 2020 2019 (unaudited) REVENUES Utilities $ 2,665 $ 2,515 Energy-related businesses 364 383 Total revenues 3,029 2,898 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (337) (531) Cost of electric fuel and purchased power (229) (256) Energy-related businesses cost of sales (59) (108) Operation and maintenance (951) (832) Depreciation and amortization (412) (383) Franchise fees and other taxes (137) (130) Other (expense) income, net (254) 82 Interest income 27 21 Interest expense (280) (260) Income from continuing operations before income taxes and equity earnings 397 501 Income tax benefit (expense) 207 (42) Equity earnings 263 101 Income from continuing operations, net of income tax 867 560 Income (loss) from discontinued operations, net of income tax 80 (42) Net income 947 518 Earnings attributable to noncontrolling interests (151) (41) Mandatory convertible preferred stock dividends (36) (36) Earnings attributable to common shares $ 760 $ 441 Basic earnings per common share (EPS): Earnings $ 2.60 $ 1.60 Weighted-average common shares outstanding 292,790 274,674 Diluted EPS: Earnings $ 2.53 $ 1.59 Weighted-average common shares outstanding 313,925 277,228 SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY ADJUSTED EARNINGS TO SEMPRA ENERGY GAAP EARNINGS (Unaudited) Sempra Energy Adjusted Earnings and Adjusted Diluted Earnings Per Common Share (Adjusted EPS) exclude items (after the effects of income taxes and, if applicable, noncontrolling interests) in 2020 and 2019 as follows: Three months ended March 31, 2020: $(72) million from impacts associated with Aliso Canyon natural gas storage facility litigation at Southern California Gas Company (SoCalGas) $(100) million equity losses at RBS Sempra Commodities LLP, which represents an estimate of our obligations to settle pending tax matters and related legal costs at our equity method investment at Parent and Other Three months ended March 31, 2019:Associated with holding the South American businesses for sale: $(103) million income tax expense from outside basis differences in our South American businesses primarily related to the change in our indefinite reinvestment assertion from our decision in January 2019 to hold those businesses for sale $10 million income tax benefit to reduce a valuation allowance against certain net operating loss (NOL) carryforwards as a result of our decision to sell our South American businesses Sempra Energy Adjusted Earnings, Weighted-Average Common Shares Outstanding – Adjusted and Adjusted EPS are non-GAAP financial measures (GAAP represents accounting principles generally accepted in the United States of America). Because of the significance and/or nature of the excluded items, management believes that these non-GAAP financial measures provide a meaningful comparison of the performance of Sempra Energy'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 Energy GAAP Earnings, Weighted-Average Common Shares Outstanding – GAAP and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. Pretax amount Income tax(benefit) expense (1) Earnings Income tax expense (benefit) (1) Earnings (Dollars in millions, except per share amounts; shares in thousands) Three months ended March 31, 2020 Three months ended March 31, 2019 Sempra Energy GAAP Earnings $ 760 $ 441 Excluded items: Impacts associated with Aliso Canyon litigation $ 100 $ (28) 72 $ — — Losses from investment in RBS Sempra Commodities LLP 100 — 100 — — Associated with holding the South American businesses for sale: Change in indefinite reinvestment assertion of basis differences in discontinued operations — — — 103 103 Reduction in tax valuation allowance against certain NOL carryforwards — — — (10) (10) Sempra Energy Adjusted Earnings $ 932 $ 534 Diluted EPS: Sempra Energy GAAP Earnings for GAAP EPS (2) $ 796 $ 441 Weighted-average common shares outstanding, diluted – GAAP 313,925 277,228 Sempra Energy GAAP EPS $ 2.53 $ 1.59 Sempra Energy Adjusted Earnings for Adjusted EPS (2)(3) $ 968 $ 560 Weighted-average common shares outstanding, diluted – Adjusted (3) 313,925 291,179 Sempra Energy Adjusted EPS $ 3.08 $ 1.92 (1) Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes were primarily calculated based on applicable statutory tax rates. We did not record an income tax benefit for the equity losses from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes. (2) In the three months ended March 31, 2020, due to the dilutive effect of the mandatory convertible preferred stock, the numerator used to calculate GAAP EPS and Adjusted EPS includes an add-back of $36 million of mandatory convertible preferred stock dividends declared in that quarter. (3) In the three months ended March 31, 2019, the assumed conversion of the series A preferred stock and the series B preferred stock are antidilutive for GAAP Earnings, however, the series A preferred stock is dilutive for the higher Adjusted Earnings. As such, the series A preferred stock dividends of $26 million have been added back to the numerator and the dilutive effect of the series A preferred stock shares of 13,951 has been added to the denominator when calculating Adjusted EPS. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY 2020 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA ENERGY 2020 GAAP EPS GUIDANCE RANGE (Unaudited) Sempra Energy 2020 Adjusted EPS Guidance Range of $6.70 to $7.50 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as follows: $(72) million from impacts associated with Aliso Canyon natural gas storage facility litigation at SoCalGas $(100) million equity losses at RBS Sempra Commodities LLP, which represents an estimate of our obligations to settle pending tax matters and related legal costs at our equity method investment at Parent and Other approximately $1.7 billion to $1.8 billion estimated after-tax gain on the sale of our South American businesses, net of approximately $1.2 billion of income tax expense, which was calculated primarily based on applicable statutory tax rates Sempra Energy 2020 Adjusted EPS Guidance is a non-GAAP financial measure. Because of the significance and/or nature of the excluded items, management believes that this non-GAAP financial measure provides a meaningful comparison of the performance of Sempra Energy's business operations to prior and future periods. Sempra Energy 2020 Adjusted EPS Guidance should not be considered an alternative to Sempra Energy 2020 GAAP EPS Guidance. 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 Energy 2020 Adjusted EPS Guidance Range to Sempra Energy 2020 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. Full-Year 2020 Sempra Energy GAAP EPS Guidance Range $ 11.88 to $ 13.02 Excluded items: Impacts associated with Aliso Canyon litigation 0.24 0.24 Losses from investment in RBS Sempra Commodities LLP 0.34 0.34 Estimated gain on sale of South American businesses (5.76) (6.10) Sempra Energy Adjusted EPS Guidance Range $ 6.70 to $ 7.50 Weighted-average common shares outstanding, diluted (millions) 295 SEMPRA ENERGY Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31,2020 December 31, 2019 (1) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,247 $ 108 Restricted cash 23 31 Accounts receivable – trade, net 1,222 1,261 Accounts receivable – other, net 369 455 Due from unconsolidated affiliates 64 32 Income taxes receivable 120 112 Inventories 217 277 Regulatory assets 210 222 Greenhouse gas allowances 79 72 Assets held for sale in discontinued operations 566 445 Other current assets 307 324 Total current assets 5,424 3,339 Other assets: Restricted cash 3 3 Due from unconsolidated affiliates 592 742 Regulatory assets 1,837 1,930 Nuclear decommissioning trusts 987 1,082 Investment in Oncor Holdings 11,619 11,519 Other investments 2,215 2,103 Goodwill 1,602 1,602 Other intangible assets 211 213 Dedicated assets in support of certain benefit plans 413 488 Insurance receivable for Aliso Canyon costs 511 339 Deferred income taxes 265 155 Greenhouse gas allowances 515 470 Right-of-use assets – operating leases 592 591 Wildfire fund 385 392 Assets held for sale in discontinued operations 3,364 3,513 Other long-term assets 691 732 Total other assets 25,802 25,874 Property, plant and equipment, net 37,067 36,452 Total assets $ 68,293 $ 65,665 (1) Derived from audited financial statements. SEMPRA ENERGY Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31,2020 December 31, 2019 (1) (unaudited) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 5,742 $ 3,505 Accounts payable – trade 1,038 1,234 Accounts payable – other 163 179 Due to unconsolidated affiliates 8 5 Dividends and interest payable 548 515 Accrued compensation and benefits 264 476 Regulatory liabilities 444 319 Current portion of long-term debt and finance leases 2,079 1,526 Reserve for Aliso Canyon costs 284 9 Greenhouse gas obligations 79 72 Liabilities held for sale in discontinued operations 538 444 Other current liabilities 990 866 Total current liabilities 12,177 9,150 Long-term debt and finance leases 20,198 20,785 Deferred credits and other liabilities: Due to unconsolidated affiliates 263 195 Pension and other postretirement benefit plan obligations, net of plan assets 1,085 1,067 Deferred income taxes 2,466 2,577 Deferred investment tax credits 21 21 Regulatory liabilities 3,533 3,741 Asset retirement obligations 2,945 2,923 Greenhouse gas obligations 348 301 Liabilities held for sale in discontinued operations 1,006 1,052 Deferred credits and other 2,136 2,048 Total deferred credits and other liabilities 13,803 13,925 Equity: Sempra Energy shareholders' equity 20,117 19,929 Preferred stock of subsidiary 20 20 Other noncontrolling interests 1,978 1,856 Total equity 22,115 21,805 Total liabilities and equity $ 68,293 $ 65,665 (1) Derived from audited financial statements. SEMPRA ENERGY Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three months ended March 31, (Dollars in millions) 2020 2019 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 947 $ 518 Less: (Income) loss from discontinued operations, net of income tax (80) 42 Income from continuing operations, net of income tax 867 560 Adjustments to reconcile net income to net cash provided by operating activities 175 313 Intercompany activities with discontinued operations, net — 31 Net change in other working capital components 217 169 Insurance receivable for Aliso Canyon costs (172) (16) Changes in other noncurrent assets and liabilities, net 163 (199) Net cash provided by continuing operations 1,250 858 Net cash provided by discontinued operations 68 93 Net cash provided by operating activities 1,318 951 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (1,010) (783) Expenditures for investments and acquisitions (86) (94) Proceeds from sale of assets 5 327 Purchases of nuclear decommissioning trust assets (552) (225) Proceeds from sales of nuclear decommissioning trust assets 552 225 Advances to unconsolidated affiliates (30) — Repayments of advances to unconsolidated affiliates — 3 Intercompany activities with discontinued operations, net (3) — Other 8 7 Net cash used in continuing operations (1,116) (540) Net cash used in discontinued operations (65) (70) Net cash used in investing activities (1,181) (610) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (269) (232) Preferred dividends paid (36) (36) Issuances of common stock 11 11 Repurchases of common stock (57) (14) Issuances of debt (maturities greater than 90 days) 1,619 304 Payments on debt (maturities greater than 90 days) and finance leases (1,433) (837) Increase in short-term debt, net 2,127 497 Advances from unconsolidated affiliates 64 — Purchases of noncontrolling interests (16) (26) Intercompany activities with discontinued operations, net (2) (2) Other (5) (1) Net cash provided by (used in) continuing operations 2,003 (336) Net cash provided by (used in) discontinued operations 111 (45) Net cash provided by (used in) financing activities 2,114 (381) Effect of exchange rate changes in continuing operations (6) — Effect of exchange rate changes in discontinued operations (8) 1 Effect of exchange rate changes on cash, cash equivalents and restricted cash (14) 1 Increase (decrease) in cash, cash equivalents and restricted cash, including discontinued operations 2,237 (39) Cash, cash equivalents and restricted cash, including discontinued operations, January 1 217 246 Cash, cash equivalents and restricted cash, including discontinued operations, March 31 $ 2,454 $ 207 SEMPRA ENERGY Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES, INVESTMENTS AND ACQUISITIONS Three months ended March 31, (Dollars in millions) 2020 2019 (unaudited) Earnings (Losses) Attributable to Common Shares SDG&E $ 262 $ 176 SoCalGas 303 264 Sempra Texas Utilities 105 94 Sempra Mexico 191 57 Sempra Renewables — 13 Sempra LNG 75 5 Parent and other (248) (117) Discontinued operations 72 (51) Total $ 760 $ 441 Three months ended March 31, (Dollars in millions) 2020 2019 (unaudited) Capital Expenditures, Investments and Acquisitions SDG&E $ 402 $ 356 SoCalGas 388 324 Sempra Texas Utilities 86 56 Sempra Mexico 170 85 Sempra LNG 47 56 Parent and other 3 — Total $ 1,096 $ 877 SEMPRA ENERGY Table E OTHER OPERATING STATISTICS (Unaudited) Three months ended March 31, 2020 2019 UTILITIES SDG&E and SoCalGas Gas sales (Bcf) (1) 129 139 Transportation (Bcf) (1) 148 144 Total deliveries (Bcf) (1) 277 283 Total gas customer meters (thousands) 6,933 6,894 SDG&E Electric sales (millions of kWhs) (1) 3,460 3,582 Direct Access and Community Choice Aggregation (millions of kWhs) 769 840 Total deliveries (millions of kWhs) (1) 4,229 4,422 Total electric customer meters (thousands) 1,475 1,460 Oncor (2) Total deliveries (millions of kWhs) 30,420 30,112 Total electric customer meters (thousands) 3,703 3,639 Ecogas Natural gas sales (Bcf) 1 1 Natural gas customer meters (thousands) 135 124 ENERGY-RELATED BUSINESSES Power generated and sold Sempra Mexico Termoeléctrica de Mexicali (TdM) (millions of kWhs) 826 1,137 Wind and solar (millions of kWhs) (3) 422 245 (1) Includes intercompany sales. (2) Includes 100% of the electric deliveries and customer meters of Oncor Electric Delivery Company LLC (Oncor), in which we hold an indirect 80.45% interest at March 31, 2020 and an indirect 80.25% interest at March 31, 2019. (3) Includes 50% of the total power generated and sold at the Energía Sierra Juárez wind power generation facility, in which Sempra Energy has a 50% ownership interest. Energía Sierra Juárez is not consolidated within Sempra Energy, and the related investment is accounted for under the equity method. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT Three months ended March 31, 2020 (Dollars in millions) SDG&E SoCalGas SempraTexasUtilities SempraMexico SempraRenewables SempraLNG ConsolidatingAdjustments,Parent & Other Total Revenues $ 1,269 $ 1,395 $ — $ 309 $ — $ 123 $ (67) $ 3,029 Cost of sales and other expenses (679) (872) (1) (137) — (87) 63 (1,713) Depreciation and amortization (201) (159) — (47) — (2) (3) (412) Other income (expense), net 31 30 — (283) — — (32) (254) Income (loss) before interest and tax (1) 420 394 (1) (158) — 34 (39) 650 Net interest (expense) income (100) (39) — (14) — 6 (106) (253) Income tax (expense) benefit (58) (52) — 307 — (23) 33 207 Equity earnings (losses), net — — 106 200 — 57 (100) 263 (Earnings) losses attributable to noncontrolling interests — — — (144) — 1 — (143) Preferred dividends — — — — — — (36) (36) Earnings (losses) from continuing operations $ 262 $ 303 $ 105 $ 191 $ — $ 75 $ (248) 688 Earnings from discontinued operations 72 Earnings attributable to common shares $ 760 Three months ended March 31, 2019 (Dollars in millions) SDG&E SoCalGas SempraTexasUtilities SempraMexico SempraRenewables SempraLNG ConsolidatingAdjustments,Parent & Other Total Revenues $ 1,145 $ 1,361 $ — $ 383 $ 7 $ 141 $ (139) $ 2,898 Cost of sales and other expenses (697) (913) — (192) (11) (142) 98 (1,857) Depreciation and amortization (186) (147) — (44) — (2) (4) (383) Other income, net 22 16 — 19 — — 25 82 Income (loss) before interest and tax (1) 284 317 — 166 (4) (3) (20) 740 Net interest (expense) income (102) (34) — (11) 7 10 (109) (239) Income tax (expense) benefit (5) (19) — (72) 10 (4) 48 (42) Equity earnings, net — — 94 2 3 2 — 101 Earnings attributable to noncontrolling interests (1) — — (28) (3) — — (32) Preferred dividends — — — — — — (36) (36) Earnings (losses) from continuing operations $ 176 $ 264 $ 94 $ 57 $ 13 $ 5 $ (117) 492 Losses from discontinued operations (51) Earnings attributable to common shares $ 441 (1) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations. [SRE-F] SOURCE Sempra Energy
SoCalGas Partners with The Laundry Truck LA and Landi Renzo USA to Bring Additional Mobile Laundry Services to Thousands of Homeless Throughout Los Angeles
LOS ANGELES, April 30, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced a $25,000 donation to The Laundry Truck LA (TLTLA) to provide free laundry services and necessities to the homeless population in Los Angeles, including at the city's 42 coronavirus relief centers. The grant will help fund the purchase and furnishing of a second trailer to support the community's rising demands for laundry services. Landi Renzo USA , a global leader in alternative fuel technology, will also donate a truck equipped with the company's Eco Ready™ compressed natural gas (CNG) system to support TLTLA's efforts. The converted CNG Ford F-250 pickup truck will help TLTLA expand their reach and lower the organization's current transportation costs by 30 percent. With the donations from SoCalGas and Landi Renzo, TLTLA is expecting to complete 15,600 loads of laundry in 2020. "In this pandemic, it is more critical than ever that our neighbors who are experiencing homelessness gain access to basic needs, such as laundry services," said Los Angeles County Supervisor Hilda L. Solis. "Without a vaccine, we all must maintain good hygiene and wash our clothes frequently. It is our best line of defense against this highly contagious virus. Our community partners are providing loads of help and hope by stepping up to ensure individuals who lack stable housing will get their clothes cleaned through the free services offered by The Laundry Truck LA." "As an early supporter and funder of The LA Laundry Truck to provide critical hygiene services to unhoused Angelenos in my district, I applaud SoCalGas for their community support by investing in the expansion of The LA Laundry Truck with $25,000 funding towards a new trailer and a new CNG truck to haul the trailer," said Gil Cedillo, councilmember of Los Angeles Council District 1. "Together, we are united to provide mobile laundry service that meets the public health and personal welfare of unhoused Angelenos." "This is an unprecedented time, and our homeless neighbors in Los Angeles County need our support more than ever," said Trisha Muse, director of community relations at SoCalGas. "Our partnership with Landi Renzo and The Laundry Truck LA not only allows us to serve our community but also the environment." "This partnership is an amazing opportunity for us to be able to help and give back to our local community. We are pleased to partner with SoCalGas and The Laundry Truck to contribute in this unparalleled time of need," said Andrea Landi, president of Landi Renzo USA. "Our Ford F-250 truck with the Landi Renzo compressed natural gas system will help The Laundry Truck with their mobile services while lowering emissions, reducing their environmental impact, and decreasing their fuel costs." The Laundry Truck LA is a non-profit organization dedicated to providing free mobile laundry services for those in need throughout Los Angeles and is one of the first mobile laundry services in the country to serve the homeless population. Prior to this donation, TLTLA served the community through a trailer furnished with five sets of washers and dryers, a folding station, and a water heater. Through the help of donations and partnerships, TLTLA is now expanding their operations to further assist the additional six thousand beds the City of Los Angeles have committed to for the COVID-19 pandemic. "We believe that essential personal care services, like clean laundry, can truly impact lives -- especially at a time like this," said Jodie Dolan, founder and owner of The Laundry Truck LA. "This generous donation from SoCalGas and Landi Renzo will allow us to provide these critical services to some of the most vulnerable Angelenos." SoCalGas is dedicated to supporting the health, safety and wellness of our community. This donation is in addition to SoCalGas' $1 million donation towards nonprofit organizations throughout its service area to help those in need during the COVID-19 pandemic. This money will be used to support the region's workforce, feed the hungry, and provide bill assistance to customers most affected by the coronavirus. Additional information about SoCalGas's response to COVID-19 is available here . About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America , delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About The Laundry Truck LA Founded in 2017, The Laundry Truck LA (TLTLA) is a non-profit organization dedicated to providing a free mobile laundry service for unhoused residents and those in need in Los Angeles. TLTLA was one of the first mobile laundry services in the country to serve the homeless community, and one of a handful in the world. TLTLA is expanding its services through local city, county and community support – and provided an estimated 3,000-4,000 loads of laundry in 2019. Accessible personal care services, like clean laundry, truly impact lives, and can make the difference in securing employment or housing, or for kids, the difference in having a positive school experience. For additional information, please visit https://www.thelaundrytruckla.com/ . About Landi Renzo Landi Renzo is the world leader in the manufacturing of alternative fuel systems and components for the automotive industry. The Company has its global headquarters in Reggio Emilia, Italy, in addition to subsidiaries in 10 different countries, including Landi Renzo USA, based in Torrance, CA. As the leader in eco-mobility with 66 years' experience and an established presence in more than 70 countries, Landi Renzo has provided alternative fuels systems to over 50 million vehicles globally, allowing a CO 2 reduction of 15 million tons. Within the United States, Landi Renzo USA is a Ford Qualified Vehicle Modifier for developing and integrating compressed natural gas vehicle systems in commercial fleets. In addition, Landi Renzo USA is the only Ford-approved compressed natural gas vehicle system supplier in the state of California. Learn more at www.LandiUSA.com . SOURCE Southern California Gas Company
SoCalGas Donates $10,000 to Non-Profit Hope through Housing Foundation; Partners with Local Restaurant to Feed Yucca Valley Seniors
LOS ANGELES, April 24, 2020 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced it has donated $10,000 to local non-profit, Hope Through Housing Foundation. The funds will be used to provide weekly meals to low-income seniors who reside in the Dumosa Senior Village affordable housing community in Yucca Valley, and to provide additional assistance to vulnerable residents during the COVID-19 crisis. SoCalGas and Hope Through Housing have partnered with local Yucca Valley restaurant John's Place to deliver individually packaged lunches once a week to each of the 85 seniors living at the property for the next month. In addition, Hope Through Housing will be providing regular well-being calls, individual resource assistance, and virtual financial counseling to residents in need. "SoCalGas is thrilled to be able to partner with the Hope Through Housing Foundation and John's Place and provide meals to seniors in need," said Trisha Muse, director of community relations at SoCalGas. "SoCalGas believes it is important to support the communities we serve, not just by providing affordable and reliable natural gas service but also through these small acts of kindness and lending a helping hand to our friends and neighbors." "During this challenging time, this grant will help us feed and provide individual assistance to vulnerable seniors, many of whom are homebound with limited support – with a double impact by supporting a local, family-owned business," said Gregory Bradbard, President of Hope Through Housing. "Right now, it is crucial for communities to come together and help one another where needed, said John Tsiolis, owner of John's Place. "We are grateful SoCalGas and Hope Through Housing Foundation reached out to us to provide these meals and not only gave business to a small restaurant like ours during these trying and unprecedented times, but also gave us the opportunity to make a big impact in our community." In 1998, the Hope through Housing Foundation was established to empower residents of National Community Renaissance (National CORE) properties, one of the largest nonprofit affordable housing developers in the country. Wanting to do more to help the children, families and seniors who lived in its communities, the Hope through Housing Foundation was created to deliver a broad range of charitable and educational programs for children, young adults, low-income and underprivileged families and seniors and the general public. Last year, SoCalGas donated more than $7.6 million to community organizations, local non-profits and other groups. SoCalGas employees contributed more than $750,000 dollars through payroll deductions and performed over 24,000 logged volunteer hours for various community groups throughout its service territory. Please see SoCalGas' 2019 Community Giving Summary for more information. For further information: Patrice Clayton, SoCalGas Office of Media and Public Information, (213) 244-2442, pclayton@socalgas.com; or Gregory Bradbard, Hope Through Housing Foundation & National CORE, (909) 204-3436, gbradbard@hthf.org. SoCalGas COVID-19 Response Last month, SoCalGas announced a $1 million donation to nonprofit organizations throughout its service area to support the region's workforce, feed the hungry, and provide bill assistance to customers most affected by the coronavirus. Together, the Sempra Energy family of companies – including SoCalGas' sister California utility San Diego Gas and Electric and the Sempra Energy Foundation – are stepping up with more than $7 million to those in need during this crisis. SoCalGas has also suspended service disconnections until further notice. This means no residential or small business customer will have their natural gas turned off due to non-payment. SoCalGas has also temporarily waived late fees for small business customers. Late fees are never charged for residential customers. Natural gas continues to flow and is being delivered to SoCalGas' 22 million customers across southern and central California, just as it does on a "typical" day. There is no shortage of supply of natural gas for homes or businesses or to power plants that generate electricity. Under the Governor's recent Executive Order, members of the critical infrastructure sector, including natural gas providers, are considered necessary to the security, economic security, public health and safety of California. SoCalGas continues to perform work needed to safely and reliably maintain its natural gas infrastructure and to provide communities with safe and reliable energy services. SoCalGas also continues to make essential and emergency service appointments, including reports of suspected natural gas leaks, carbon monoxide checks, gas meter turn-ons, natural gas outage and pilot re-lights while protecting the safety of our workforce, customers and the communities we serve . For more information about SoCalGas' response to the COVID-19 pandemic, visit www.socalgas.com/coronavirus. Hope Through Housing COVID-19 Response During this challenging time, the Hope Through Housing Foundation (HTHF) is uniquely positioned to respond to the immediate and sustained needs of thousands of low‐income families and seniors across Southern California and Texas. Utilizing our on‐site Community Centers and long‐standing relationships with residents living within 70+ National CORE affordable apartment communities, we have the ability to deliver resources and support right where residents live throughout and beyond the COVID‐19 crisis. To address the pressing needs of our residents, Hope Through Housing has launched the COVID‐19 Emergency Response & Resilience Fund. Dollars contributed to the fund will directly support response efforts to meet the immediate needs of residents during the time of crisis and will help facilitate resilience and a full recovery by residents in the aftermath of this time. Specifically, HTHF's response and resilience efforts include the following: Immediate distribution of food, household items, and other needed supplies to ensure residents – especially seniors and those with disabilities – can safely remain at home while meeting their basic needs. Resource coordination by dedicated Hope Service Coordinators available via telephone to connect residents with community resources and other important health information – including medication and grocery delivery, unemployment assistance, and transportation. Service Coordinators are also performing virtual welfare checks on vulnerable residents to ensure their well‐being while quarantined at home. Healthcare navigation by our Service Coordinators will also ensure residents have quality information about COVID‐19, access to medical support, and assistance understanding and receiving quality medical care to address relevant health needs. Economic assistance to ensure residents remain housed and are able to meet their ongoing household needs. Short term, this may include access to unemployment benefits, rent and utility assistance, and supplemental resources to help reduce expenses. Long term, our focus will shift to helping residents recover from this period through employment & education assistance and the development of budgeting/money management skills. For more information, visit www.HTHF.org/relief. About Hope through Housing The Hope through Housing Foundation is committed to elevating the health, well-being, and self-sufficiency of low-income families and seniors. Hope through Housing delivers quality services within over 70 affordable housing sites, helping children and teens achieve success, improving families' financial well-being, and promoting seniors' health and wellness. For more information on Hope through Housing, please visit www.hthf.org. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas' vision is to be the cleanest gas utility in North America, delivering affordable and increasingly renewable energy to its customers. In support of that vision, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2014 through 2018, the company invested nearly $6.5 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
Sempra Energy Completes $3.59 Billion Divestiture Of Luz Del Sur In Peru
SAN DIEGO, April 24, 2020 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that it completed the sale of its Peruvian businesses, generating approximately $3.59 billion in total cash proceeds, subject to post-closing adjustments. The sale to China Yangtze Power International (Hongkong) Co., Limited (CYP) and assigned to Yangtze Andes Holding Co., Limited includes Sempra Energy's 83.6% stake in Luz del Sur S.A.A. ( Luz del Sur), as well as Tecsur S.A., which provides electric construction and infrastructure services to Luz del Sur and third parties, and Inland Energy S.A.C., Luz del Sur's generation business. "We are very pleased with today's announcement as the sales proceeds will be used to further strengthen our balance sheet and our already solid liquidity position," said Jeffrey W. Martin, chairman and CEO of Sempra Energy. "We're also very excited that, in the face of current travel restrictions, all parties worked safely together to complete this deal as expected. We also remain on track for the sale of our Chilean businesses, which will complete the divestiture of all of Sempra Energy's South American assets and further our mission to become North America's premier energy infrastructure company." Sempra Energy continues to move forward with the sale of its Chilean assets, including its 100% interest in Chilquinta Energía S.A., to State Grid International Development Limited for approximately $2.23 billion in total cash proceeds, subject to adjustments and satisfaction of closing conditions. In combination, these transactions will conclude Sempra Energy's planned sale of its South American businesses for approximately $5.82 billion in total cash proceeds, subject to adjustments and, with respect to the sale of its Chilean assets, satisfaction of closing conditions. BofA Merrill Lynch is serving as a financial advisor to Sempra Energy on the sale, and White & Case is serving as legal advisor. Luz del Sur serves the southern region of Lima, Peru, and is the largest electric company in the country. About China Yangtze Power Co LtdYangtze Andes Holding Co., Limited is a subsidiary of China Yangtze Power Co Ltd, which is China's largest publicly listed power company. China Yangtze Power Co Ltd engages in electric power production, technological consultation of electric power generation and selected distribution services. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets reported in 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires and the risk that we may be found liable for damages regardless of fault and the risk that we may not be able to recover any such costs from insurance, the wildfire fund established by California Assembly Bill 1054 or in rates from customers; decisions, investigations, regulations, issuances of permits and other authorizations, renewal of franchises, and other actions by the Comisión Federal de Electricidad, California Public Utilities Commission, U.S. Department of Energy, Public Utility Commission of Texas, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas; the impact of the COVID-19 pandemic on (i) our ability to commence and complete capital projects and obtain regulatory approvals, (ii) our current and prospective counterparties, customers and partners, and (iii) the stability of the capital markets; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed power generation and from departing retail load resulting from customers transferring to Direct Access, Community Choice Aggregation or other forms of distributed power generation and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or Southern California Gas Company, and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Cameron LNG Begins Final Commissioning Stage Of Train 3
SAN DIEGO, April 22, 2020 /PRNewswire/ -- Sempra LNG, a subsidiary of Sempra Energy (NYSE: SRE), today announced that Cameron LNG has entered the final commissioning stage for the Phase 1, three-train liquefaction-export project in Hackberry, La., as it began introducing pipeline feed gas flow to the third and last liquefaction train. "Cameron LNG is a huge success story and a great tribute to what this organization and its people are capable of," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG. "We are proud of Sempra LNG's development of this project as well as Cameron LNG's employees and contractors who have built and are operating this facility. With a commitment to health and safety first, the commissioning and startup of Train 3 will help meet demand from global markets for cleaner and more secure energy sources." Approximately 88 million hours have been worked without a lost-time incident and 58 liquefied natural gas (LNG) cargoes have been shipped from the facility. Following authorization received from the Federal Energy Regulatory Commission allowing the introduction of pipeline feed gas, Cameron LNG began ramping up the feed gas deliveries to the third train as it completes the commissioning process. Commercial operation of Train 3 remains on track to begin in the third quarter of 2020. Phase 1 of the Cameron LNG export project includes three liquefaction trains that will enable the export of approximately 12 million tonnes per annum (Mtpa) of LNG or approximately 1.7 billion cubic feet per day. Cameron LNG is jointly owned by affiliates of Sempra LNG, Total S.A., Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Sempra Energy indirectly owns 50.2% of Cameron LNG. Sempra Energy's share of full-year run-rate earnings from the Phase 1 project is anticipated to be between $400 million and $450 million annually starting in 2021 when all three trains are in commercial operations under Cameron LNG's tolling agreements. Sempra LNG is also developing four other LNG export projects in North America, including Cameron LNG Phase 2, Port Arthur LNG in Texas, and Energía Costa Azul LNG Phase 1 and Phase 2 in Mexico, with the goal of developing infrastructure capable of producing 45 Mtpa of LNG to export to world markets, which would make Sempra Energy one of North America's largest developers of LNG-export facilities. The successful development and ultimate construction of Sempra Energy's LNG export projects are subject to a number of risks and uncertainties and there can be no assurance that any of these projects will be completed. About Sempra EnergySempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets reported in 2019, the San Diego based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers worldwide. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in diversity and inclusion, and sustainability, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees of performance. Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions, or when we discuss our guidance, strategy, goals, vision, mission, opportunities, projections or intentions. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances of permits and other authorizations, and other actions by the U.S. Department of Energy, regulatory and governmental bodies and jurisdictions in the U.S. and other countries in which we operate; the success of business development efforts, construction projects and major acquisitions and divestitures, including risks in (i) the ability to make a final investment decision and completing construction projects on schedule and budget, (ii) obtaining the consent of partners, (iii) counterparties' financial or other ability to fulfill contractual commitments, (iv) the ability to complete contemplated acquisitions and/or divestitures, and (v) the ability to realize anticipated benefits from any of these efforts once completed; the impact of the novel coronavirus and the disease it causes, referred to as COVID-19, on (i) our ability to commence and complete capital projects and obtain regulatory approvals, (ii) our current and prospective counterparties, customers and partners, and (iii) the stability and accessibility of the capital markets; the resolution of civil and criminal litigation, regulatory investigations and proceedings and arbitrations; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; moves to reduce or eliminate reliance on natural gas; weather, natural disasters, accidents, equipment failures, computer system outages and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires and subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses, and the confidentiality of our proprietary information and the personal information of our customers and employees; expropriation of assets, the failure of foreign governments and state-owned entities to honor the terms of contracts, and property disputes; volatility in foreign currency exchange, interest and inflation rates and commodity prices and our ability to effectively hedge the risk of such volatility; changes in trade policies, laws and regulations, including tariffs and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the impact of changes to federal and state tax laws and our ability to mitigate adverse impacts; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on the company's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra LNG and Port Arthur LNG, LLC are not the same as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, or Oncor Electric Delivery Company LLC and are not regulated by the California Public Utilities Commission. SOURCE Sempra LNG

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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).