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Displaying results 1156 - 1170 of 1204
Giant Shovel to be Displayed in Pershing Square Wednesday on Second Stop in Campaign to Raise Awareness of Importance of Calling 811 to Have Utilities Marked Before Digging
WHAT: The 30-foot-high shovel , debuted last week in recognition of National 811 Day, will be on display at Pershing Square in downtown Los Angeles to bring public attention to the importance of calling 811 to have utility lines marked before any home or commercial digging project. Visitors to Pershing Square who take a photo with the giant shovel, post it on social media with the tags @socalgas and #BeSafe, will be entered into a sweepstakes to win an iPad. Sweepstakes details are available at www.socalgas.com/besafe. The Pershing Square event is the second stop in a campaign this month to raise awareness of importance of Calling 811 to have utilities marked before digging. The giant shovel will also be on display at the Wings Over Camarillo Air Show on August 19th and 20th, and the Anaheim Home & Garden Show August 25th through 27 th. BACKGROUND: 811 is the national phone number designated by the Federal Communications Commission (FCC) that connects professionals and homeowners who plan to dig with a local call center. The call center collects information about the planned dig site then communicates with the appropriate utility companies, which send professional utility locating technicians to identify and mark the approximate location of lines. WHEN: Wednesday, August 16, 2017 – 10 a.m. to 2 p.m. WHO: --SoCalGas staff will be available for interviews. -- KRCD-FM Disk Jockey Ely Venegas will broadcast live from the event. WHERE: Pershing Square, 6 th Street and Olive Street in Downtown Los Angeles
SoCalGas, L.A. Fire Department Unveil Giant Shovel on National 8-1-1 Day to Raise Public Awareness of the Importance of Having Utilities Marked Before Digging
LOS ANGELES, Aug. 11, 2017 /PRNewswire/ -- In recognition of National 8-1-1 Day, Southern California Gas Co. (SoCalGas) and Los Angeles Fire Department officials today unveiled a giant 30-foot tall shovel to remind the public about the dangers of hitting utility lines when digging, and to increase awareness of the need to call 811 to have utility lines marked before any home or commercial digging project. Photos of the event are available here. "About 60 percent of pipeline damage due to digging is caused by homeowners or contractors who do not call 811 before they dig," said Jimmie Cho, SoCalGas senior vice president of gas operations and system integrity. "They have no idea where buried pipelines may be, and that's not safe. By contrast, when people do call 811, there is a 99.9 percent chance no damage will occur to a buried pipeline or other utility—which means most of these accidental dig-ins are preventable." "We want to bring attention to this to increase public safety," said Trevor M. Richmond, Deputy Chief, Bureau Commander, LAFD Operations Valley Bureau. "Pipelines can be located anywhere—under streets, sidewalks and private property. And hitting one while digging, planting or doing demolition work can not only cause property damage and loss of utility service, it can cause serious injury." "Calling 811 is a quick and easy way to ensure that any digging project is safe, protecting home owners, construction workers and property," said Los Angeles City Councilmember Bob Blumenfield. "The recent explosion in Woodland Hills is a prime example of the importance of calling 811 because with gas, you never can be too safe." 811 is the national phone number designated by the Federal Communications Commission (FCC) that connects professionals and homeowners who plan to dig with a local call center. The call center collects information about the planned dig site then communicates with the appropriate utility companies, which send professional utility locating technicians to identify and mark the approximate location of lines. Raising public awareness of the importance of calling 811 before digging is especially timely in the wake of a recent incident involving a Woodland Hills couple who lost their home due to an explosion and fire, after a contractor hired to do plumbing repairs on their property damaged a gas line. By following policy and procedures, two SoCalGas employees helped to ensure no one was injured in the incident. There were more than 3,000 cases of accidental damage from digging to natural gas lines in SoCalGas' service territory last year. SoCalGas' giant shovel will continue to be displayed for several months in various locations around the company's service territory to bring ongoing attention to the importance of pipeline safety. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest natural gas distribution utility in the United States, providing clean, safe, affordable and reliable natural gas service to 21.7 million customers in Central and Southern California. Its service territory spans 22,000 square miles from Fresno to the Mexican border, reaching more than 550 communities through 5.9 million meters and 101,000 miles of pipeline. More than 90 percent of Southern California single-family home residents use natural gas for home heat and hot water. In addition, natural gas plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas has served communities in California for 150 years and is committed to being a leader in the region's clean energy future. The company has committed to spending $6 billion over the next five years to modernize and upgrade its gas infrastructure, while also reducing methane emissions. SoCalGas is working to accelerate the use of renewable natural gas, a carbon-neutral or carbon-negative fuel created by capturing and conditioning greenhouse gas emissions from farms, landfills and wastewater treatment plants. The company is a subsidiary of Sempra Energy (NYSE: SRE), a Fortune 500 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 Los Angeles Fire DepartmentThe Los Angeles Fire Department (LAFD) preserves life and property, promotes public safety and fosters economic growth through a commitment to prevention, preparedness, response and recovery as an all risk life safety response provider. LAFD is a full-spectrum life safety agency protecting more than four million people who live, work and play in America's second largest city. The LAFD's 3,246 uniformed fire personnel protect life, property and the environment through their direct involvement in fire prevention, firefighting, emergency medical care, technical rescue, hazardous materials mitigation, disaster response, public education and community service. An equally committed non-sworn cadre of 353 professional support personnel provide technical and administrative expertise in their corresponding pursuit of the department's mission. SOURCE SoCalGas
Sempra Energy's Second-Quarter 2017 Earnings Rise
SAN DIEGO, Aug. 4, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today reported second-quarter 2017 earnings of $259 million, or $1.03 per diluted share, up from $16 million, or $0.06 per diluted share, in the second-quarter 2016. On an adjusted basis, Sempra Energy's second-quarter 2017 earnings increased to $276 million, or $1.10 per diluted share, from $200 million, or $0.79 per diluted share, in last year's second quarter. "Increased operating earnings in our utility and infrastructure businesses through the first half of the year allow us to raise our 2017 earnings guidance," said Debra L. Reed, chairman, president and CEO of Sempra Energy. "Strong operating results were coupled with positive regulatory outcomes, including the final regulatory decision in the Cost-of-Capital proceeding, which provides greater visibility to earnings at our California utilities over the next two years. Earlier this week, Southern California Gas Co. was able to resume limited injections at the Aliso Canyon natural gas storage facility after receiving regulatory approval in mid-July. Additionally, our Mexican business continues to expand, taking an important step forward in developing infrastructure for the promising new liquids market in Mexico." Sempra Energy's earnings for the first six months of 2017 were $700 million, or $2.77 per diluted share, compared with $369 million, or $1.47 per diluted share, in the first six months of 2016. Adjusted earnings for the first six months of 2017 were $714 million, or $2.83 per diluted share, compared with $625 million, or $2.48 per diluted share, in the first six months of 2016. These results reflect certain significant items as described in the following table of GAAP earnings, reconciled to adjusted earnings, for the second quarter and first six months of 2017 and 2016: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 (Unaudited; Dollars, except EPS, and shares, in millions) As Recast Adjustment for Share- Based Comp. (1) As Originally Reported GAAP Earnings $ 259 $ 16 $ 700 $ 369 $ (34) $ 335 Losses Related to Termoeléctrica de Mexicali (TdM) Held For Sale 45 2 42 26 - 26 (Recoveries) Losses Related to Permanent Releases of Pipeline Capacity (28) 123 (28) 123 - 123 Tax Repairs Adjustments Related to General Rate Case (GRC) - 80 - 80 - 80 Retroactive Q1-16 GRC Benefit - (21) - - - - Loss Related to Rockies Express Pipeline - - - 27 - 27 Adjusted Earnings (2) $ 276 $ 200 $ 714 $ 625 $ (34) $ 591 Diluted weighted-average shares outstanding 253 252 253 252 252 252 GAAP EPS $1.03 $0.06 $ 2.77 $ 1.47 $ (0.14) $ 1.33 Adjusted EPS (2) $1.10 $0.79 $ 2.83 $ 2.48 $ (0.14) $ 2.35 (1) Reflects adoption of Accounting Standards Update 2016-09 as of Jan. 1, 2016. For more information, refer to Sempra Energy's Form 10-Q. (2) Sempra Energy adjusted earnings and adjusted EPS are non-GAAP financial measures. See Table A in the appendix for information regarding non-GAAP financial measures and descriptions of adjustments above. SEMPRA UTILITIES On July 13, the California Public Utilities Commission (CPUC) issued a final ruling approving a two-year extension through 2019 for San Diego Gas & Electric (SDG&E) and Southern California Gas Co. (SoCalGas) to file their next applications in the Cost-of-Capital proceeding at the CPUC. The CPUC decision, which is consistent with the Cost-of-Capital assumptions provided for SDG&E and SoCalGas in the five-year financial plan at Sempra Energy's 2017 Analyst Conference, adopts an authorized return on equity of 10.2 percent and 10.05 percent for SDG&E and SoCalGas, respectively, through 2019. San Diego Gas & Electric Second-quarter 2017 earnings for SDG&E were $149 million, compared with $100 million in the second quarter 2016, due primarily to higher CPUC base margin and lower operating costs. In last year's second quarter, due to the final 2016-18 General Rate Case decision, SDG&E recorded a $31 million after-tax refund to ratepayers of benefits from tax repairs deductions, offset by a $9 million after-tax retroactive benefit for first-quarter 2016 earnings. For the first six months of 2017, SDG&E's earnings were $304 million, compared with $236 million in the same period last year. Southern California Gas Co. In the second quarter 2017, SoCalGas had earnings of $58 million, compared with a net loss of $1 million in last year's second quarter, due primarily to an after-tax impairment of $13 million in the second quarter 2016 based on the CPUC's decision related to the proposed North-South pipeline project. Additionally, in last year's second quarter, due to the final 2016-18 General Rate Case decision, SoCalGas recorded a $49 million after-tax refund to ratepayers of benefits from tax repairs deductions, offset by a $12 million after-tax retroactive benefit for first-quarter 2016 earnings. In the first half of 2017, SoCalGas' earnings were $261 million, up from $198 million in the first half of 2016. On July 31, SoCalGas resumed limited injections at the Aliso Canyon natural gas storage facility after receiving regulatory approval earlier in the month from the CPUC and California's Division of Oil, Gas, and Geothermal Resources (DOGGR). The regulatory agencies certified that SoCalGas had met the conditions of the state's rigorous safety review. Sempra South American Utilities In the second quarter 2017, Sempra South American Utilities had earnings of $45 million, compared with $43 million in the second quarter 2016. For the first six months of 2017, earnings for Sempra South American Utilities were $92 million, compared with $81 million in the first six months last year. SEMPRA INFRASTRUCTURE Sempra Mexico Sempra Mexico recorded a net loss of $9 million in the second quarter 2017, compared with earnings of $57 million in the second quarter 2016, due primarily to a $47 million impairment the company recorded on the Termoélectrica de Mexicali power plant, which is being held for sale, as well as unfavorable foreign-currency and inflation effects. For the first six months of 2017, Sempra Mexico had earnings of $39 million, compared with $75 million in the same period last year. Yesterday, Mexican subsidiary IEnova announced several U.S.-dollar-denominated, long-term capacity agreements with Valero to develop three new liquids terminals – in Mexico City, Puebla and the Port of Veracruz. These projects represent IEnova's first ventures in Mexico's emerging $10 billion liquids market. Sempra Renewables Second-quarter 2017 earnings for Sempra Renewables were $23 million, up from $12 million in 2016, due primarily to higher earnings for solar assets placed into service during 2016. In the first half of 2017, earnings for Sempra Renewables were $34 million, compared with $26 million in the first half of 2016. Sempra LNG & Midstream In the second quarter 2017, Sempra LNG & Midstream recorded earnings of $27 million, compared with a net loss of $149 million in the second quarter 2016. Sempra LNG & Midstream recorded a $28 million after-tax recovery in 2017 related to last year's permanent releases of pipeline capacity, compared with a related $123 million after-tax loss in 2016. For the first six months of 2017, Sempra LNG & Midstream recorded earnings of $28 million, compared with a net loss of $181 million in the first six months of 2016. The company announced today that, based on several factors, it believes it is reasonable to expect that the Cameron LNG liquefaction-export project's first liquefaction train could be delayed into 2019, with the other two trains following throughout 2019 and with no earnings expected in 2018. Despite the revisions in the schedule, the company does not expect any material impact on the long-term economics of the project and anticipates earnings from the project of $300 million to $350 million in 2020. 2017 EARNINGS GUIDANCE Today, Sempra Energy raised its GAAP 2017 earnings-per-share guidance range to $4.95 to $5.25 and its adjusted 2017 earnings-per-share guidance range to $5 to $5.30, both from the previous earnings-per-share range of $4.85 to $5.25. The company also affirmed its previous 2018 earnings-per-share guidance range of $5.30 to $5.80. INTERNET BROADCAST Sempra Energy will broadcast a live discussion of its earnings results over the Internet today at 12 p.m. EDT 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 4175144. NON-GAAP FINANCIAL MEASURES Non-GAAP financial measures include Sempra Energy's 2017 adjusted earnings guidance, and adjusted earnings and adjusted earnings per share for both the second quarter and first six months of 2017 and 2016. Information regarding these non-GAAP financial measures is in the appendix on Table A of the second-quarter financial tables. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide. 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. These statements can be identified by words like "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in forward-looking statements include: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in obtaining or maintaining permits and other authorizations on a timely basis, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; modifications of settlements; delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers (including with respect to regulatory assets associated with the San Onofre Nuclear Generating Station facility and 2007 wildfires) or regulatory agency approval for projects required to enhance safety and reliability; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; the impact on the value of our investment in natural gas storage and related assets from low natural gas prices, low volatility of natural gas prices and the inability to procure favorable long-term contracts for storage services; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party 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) or may be disputed by insurers; 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; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; changes in the tax code as a result of potential federal tax reform, such as the elimination of the deduction for interest and non-deductibility of all, or a portion of, the cost of imported materials, equipment and commodities; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to favorable international trade agreements, and changes that make our exports less competitive or otherwise restrict our ability to export; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; 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 Securities and Exchange Commission. 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. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same as the California Utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and are not regulated by the California Public Utilities Commission. [SRE-F] SEMPRA ENERGY Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended June 30, Six months ended June 30, (Dollars in millions, except per share amounts) 2017 2016 (1) 2017 2016 (1) (unaudited) REVENUES Utilities $ 2,197 $ 1,994 $ 4,895 $ 4,436 Energy-related businesses 336 162 669 342 Total revenues 2,533 2,156 5,564 4,778 EXPENSES AND OTHER INCOME Utilities: Cost of electric fuel and purchased power (553) (561) (1,080) (1,076) Cost of natural gas (228) (183) (713) (494) Energy-related businesses: Cost of natural gas, electric fuel and purchased power (62) (62) (129) (118) Other cost of sales 38 (226) 16 (261) Operation and maintenance (731) (706) (1,445) (1,406) Depreciation and amortization (368) (314) (728) (642) Franchise fees and other taxes (101) (96) (211) (207) Impairment losses (71) (21) (71) (22) Equity earnings (losses), before income tax 18 14 21 (8) Other income, net 91 23 260 72 Interest income 8 6 14 12 Interest expense (159) (142) (328) (285) Income (loss) before income taxes and equity earnings (losses) of certain unconsolidated subsidiaries 415 (112) 1,170 343 Income tax (expense) benefit (167) 106 (462) (2) Equity earnings (losses), net of income tax — 33 (8) 50 Net income 248 27 700 391 Losses (earnings) attributable to noncontrolling interests 12 (10) 1 (21) Preferred dividends of subsidiary (1) (1) (1) (1) Earnings $ 259 $ 16 $ 700 $ 369 Basic earnings per common share $ 1.03 $ 0.06 $ 2.79 $ 1.48 Weighted-average number of shares outstanding, basic (thousands) 251,447 250,096 251,290 249,915 Diluted earnings per common share $ 1.03 $ 0.06 $ 2.77 $ 1.47 Weighted-average number of shares outstanding, diluted (thousands) 252,822 252,036 252,609 251,775 Dividends declared per share of common stock $ 0.83 $ 0.75 $ 1.65 $ 1.51 (1) As adjusted for the adoption of ASU 2016-09 as of January 1, 2016. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY ADJUSTED EARNINGS TO SEMPRA ENERGY GAAP EARNINGS (Unaudited) Sempra Energy Adjusted Earnings and Adjusted Earnings Per Share exclude items (after the effects of taxes and, if applicable, noncontrolling interests) in 2017 and 2016 as follows: Three months ended June 30, 2017: ▪ $(47) million impairment of Sempra Mexico's Termoeléctrica de Mexicali (TdM) assets held for sale ▪ $2 million deferred income tax benefit on the TdM assets held for sale ▪ $28 million of recoveries related to 2016 permanent release of pipeline capacity Three months ended June 30, 2016: ▪ $(123) million losses from the permanent release of pipeline capacity at Sempra LNG & Midstream ▪ $(80) million adjustments related to tax repairs deductions reallocated to ratepayers as a result of the 2016 General Rate Case Final Decision (2016 GRC FD) at the California Utilities ▪ $21 million incremental revenue increases for the first quarter of 2016 from the retroactive application of the 2016 GRC FD at the California Utilities ▪ $(2) million deferred income tax expense on the TdM assets held for sale Six months ended June 30, 2017: ▪ $(47) million impairment of TdM assets held for sale ▪ $5 million deferred income tax benefit on the TdM assets held for sale ▪ $28 million of recoveries related to 2016 permanent release of pipeline capacity Six months ended June 30, 2016: ▪ $(123) million losses from the permanent release of pipeline capacity at Sempra LNG & Midstream ▪ $(80) million adjustments related to tax repairs deductions reallocated to ratepayers as a result of the 2016 GRC FD at the California Utilities ▪ $(27) million impairment charge related to Sempra LNG & Midstream's investment in Rockies Express Pipeline LLC (Rockies Express) ▪ $(26) million deferred income tax expense on the TdM assets held for sale Sempra Energy Adjusted Earnings and Adjusted Earnings Per Share 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 from 2017 to 2016 and to 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 Earnings and Diluted Earnings Per Common Share, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings Pretax amount Income tax expense (benefit) (1) Non- controlling interests Earnings (Dollars in millions, except per share amounts) Three months ended June 30, 2017 Three months ended June 30, 2016(2) Sempra Energy GAAP Earnings $ 259 $ 16 Excluded items: Impairment of TdM assets held for sale $ 71 $ — $ (24) 47 $ — $ — $ — — Deferred income tax (benefit) expense associated with TdM — (3) 1 (2) — 3 (1) 2 Recoveries related to 2016 permanent release of pipeline capacity (47) 19 — (28) — — — — Permanent release of pipeline capacity — — — — 206 (83) — 123 SDG&E tax repairs adjustments related to 2016 GRC FD — — — — 52 (21) — 31 SoCalGas tax repairs adjustments related to 2016 GRC FD — — — — 83 (34) — 49 SDG&E retroactive impact of 2016 GRC FD for Q1 2016 — — — — (15) 6 — (9) SoCalGas retroactive impact of 2016 GRC FD for Q1 2016 — — — — (20) 8 — (12) Sempra Energy Adjusted Earnings $ 276 $ 200 Diluted earnings per common share: Sempra Energy GAAP Earnings $ 1.03 $ 0.06 Sempra Energy Adjusted Earnings $ 1.10 $ 0.79 Weighted-average number of shares outstanding, diluted (thousands) 252,822 252,036 Six months ended June 30, 2017 Six months ended June 30, 2016(2) Sempra Energy GAAP Earnings $ 700 $ 369 Excluded items: Impairment of TdM assets held for sale $ 71 $ — $ (24) 47 $ — $ — $ — — Deferred income tax (benefit) expense associated with TdM — (8) 3 (5) — 32 (6) 26 Recoveries related to 2016 permanent release of pipeline capacity (47) 19 — (28) — — — — Permanent release of pipeline capacity — — — — 206 (83) — 123 SDG&E tax repairs adjustments related to 2016 GRC FD — — — — 52 (21) — 31 SoCalGas tax repairs adjustments related to 2016 GRC FD — — — — 83 (34) — 49 Impairment of investment in Rockies Express — — — — 44 (17) — 27 Sempra Energy Adjusted Earnings $ 714 $ 625 Diluted earnings per common share: Sempra Energy GAAP Earnings $ 2.77 $ 1.47 Sempra Energy Adjusted Earnings $ 2.83 $ 2.48 Weighted-average number of shares outstanding, diluted (thousands) 252,609 251,775 (1) Income taxes were calculated based on applicable statutory tax rates, except for adjustments that are solely income tax. Income taxes associated with TdM were calculated based on the applicable statutory tax rate, including translation from historic to current exchange rates. An income tax benefit of $12 million associated with the 2017 TdM impairment has been fully reserved. (2) Reflects the adoption of ASU 2016-09 as of January 1, 2016. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA ENERGY 2017 ADJUSTED EARNINGS-PER-SHARE GUIDANCE RANGE TO SEMPRA ENERGY 2017 GAAP EARNINGS-PER-SHARE GUIDANCE RANGE (Unaudited) Sempra Energy 2017 Adjusted Earnings-Per-Share Guidance Range of $5.00 to $5.30 excludes items (after the effects of taxes and, if applicable, noncontrolling interests) as follows: ▪ $(47) million impairment of Sempra Mexico's TdM assets held for sale ▪ $5 million deferred income tax benefit on the TdM assets held for sale ▪ $28 million of recoveries related to 2016 permanent release of pipeline capacity Sempra Energy 2017 Adjusted Earnings-Per-Share Guidance is a non-GAAP financial measure. Because of the significance and/or nature of the excluded items, management believes this non-GAAP financial measure provides additional clarity into the ongoing results of the business and the comparability of such results to prior and future periods and also as a base for projected earnings-per-share compound annual growth rate. Sempra Energy 2017 Adjusted Earnings-Per-Share Guidance should not be considered an alternative to Earnings-Per-Share Guidance determined in accordance with GAAP. The table below reconciles Sempra Energy 2017 Adjusted Earnings-Per-Share Guidance Range to Sempra Energy 2017 GAAP Earnings-Per-Share Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. Full-Year 2017 Sempra Energy GAAP Earnings-Per-Share Guidance Range $ 4.95 to $ 5.25 Excluded items (1): Impairment of TdM assets held for sale 0.18 0.18 Deferred income tax benefit associated with TdM (0.02) (0.02) Recoveries related to 2016 permanent release of pipeline capacity (0.11) (0.11) Sempra Energy Adjusted Earnings-Per-Share Guidance Range $ 5.00 to $ 5.30 Weighted-average number of shares outstanding, diluted (thousands) 254,000 (1) The effects of taxes and noncontrolling interests for excluded items are provided above in the reconciliation of Sempra Energy GAAP Earnings to Sempra Energy Adjusted Earnings. SEMPRA ENERGY Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) June 30, 2017 December 31, 2016 (1) (unaudited) Assets Current assets: Cash and cash equivalents $ 223 $ 349 Restricted cash 70 66 Accounts receivable, net 1,304 1,554 Due from unconsolidated affiliates 26 26 Income taxes receivable 110 43 Inventories 239 258 Regulatory balancing accounts – undercollected 261 259 Fixed-price contracts and other derivatives 186 83 Assets held for sale 109 201 Other 239 271 Total current assets 2,767 3,110 Other assets: Restricted cash 17 10 Due from unconsolidated affiliates 373 201 Regulatory assets 3,569 3,414 Nuclear decommissioning trusts 1,029 1,026 Investments 2,134 2,097 Goodwill 2,379 2,364 Other intangible assets 541 548 Dedicated assets in support of certain benefit plans 427 430 Insurance receivable for Aliso Canyon costs 554 606 Deferred income taxes 166 234 Sundry 859 815 Total other assets 12,048 11,745 Property, plant and equipment, net 34,561 32,931 Total assets $ 49,376 $ 47,786 Liabilities and Equity Current liabilities: Short-term debt $ 1,826 $ 1,779 Accounts payable 1,167 1,476 Due to unconsolidated affiliates 11 11 Dividends and interest payable 339 319 Accrued compensation and benefits 314 409 Regulatory balancing accounts – overcollected 204 122 Current portion of long-term debt 1,287 913 Fixed-price contracts and other derivatives 109 83 Customer deposits 158 158 Reserve for Aliso Canyon costs 63 53 Liabilities held for sale 47 47 Other 538 557 Total current liabilities 6,063 5,927 Long-term debt 15,000 14,429 Deferred credits and other liabilities: Customer advances for construction 146 152 Pension and other postretirement benefit plan obligations, net of plan assets 1,240 1,208 Deferred income taxes 4,191 3,745 Deferred investment tax credits 27 28 Regulatory liabilities arising from removal obligations 2,746 2,697 Asset retirement obligations 2,469 2,431 Fixed-price contracts and other derivatives 330 405 Deferred credits and other 1,559 1,523 Total deferred credits and other liabilities 12,708 12,189 Equity: Total Sempra Energy shareholders' equity 13,332 12,951 Preferred stock of subsidiary 20 20 Other noncontrolling interests 2,253 2,270 Total equity 15,605 15,241 Total liabilities and equity $ 49,376 $ 47,786 (1) Derived from audited financial statements. SEMPRA ENERGY Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended June 30, (Dollars in millions) 2017 2016 (1) (unaudited) Cash Flows from Operating Activities Net income $ 700 $ 391 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 728 642 Deferred income taxes and investment tax credits 411 (76) Impairment losses 71 22 Equity earnings, net (13) (42) Fixed-price contracts and other derivatives (142) 41 Other (19) 45 Net change in other working capital components 138 167 Insurance receivable for Aliso Canyon costs 52 (354) Changes in other assets (88) (67) Changes in other liabilities 51 147 Net cash provided by operating activities 1,889 916 Cash Flows from Investing Activities Expenditures for property, plant and equipment (1,802) (2,006) Expenditures for investments (97) (46) Proceeds from sale of assets 4 443 Distributions from investments 18 12 Purchases of nuclear decommissioning and other trust assets (823) (206) Proceeds from sales by nuclear decommissioning and other trusts 823 204 Increases in restricted cash (194) (32) Decreases in restricted cash 185 44 Advances to unconsolidated affiliates (183) (9) Repayments of advances to unconsolidated affiliates 2 9 Other — (6) Net cash used in investing activities (2,067) (1,593) Cash Flows from Financing Activities Common dividends paid (368) (335) Preferred dividends paid by subsidiary (1) (1) Issuances of common stock 28 29 Repurchases of common stock (14) (54) Issuances of debt (maturities greater than 90 days) 1,932 1,384 Payments on debt (maturities greater than 90 days) (1,006) (986) (Decrease) increase in short-term debt, net (493) 865 Net distributions to noncontrolling interests (25) (10) Other (9) (10) Net cash provided by financing activities 44 882 Effect of exchange rate changes on cash and cash equivalents 8 8 (Decrease) increase in cash and cash equivalents (126) 213 Cash and cash equivalents, January 1 349 403 Cash and cash equivalents, June 30 $ 223 $ 616 (1) As adjusted for the adoption of ASU 2016-09 as of January 1, 2016. SEMPRA ENERGY Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES AND INVESTMENTS Three months ended June 30, Six months ended June 30, (Dollars in millions) 2017 2016 2017 2016 (1) (unaudited) Earnings (Losses) Sempra Utilities: San Diego Gas & Electric $ 149 $ 100 $ 304 $ 236 Southern California Gas 58 (1) 261 198 Sempra South American Utilities 45 43 92 81 Sempra Infrastructure: Sempra Mexico (9) 57 39 75 Sempra Renewables 23 12 34 26 Sempra LNG & Midstream 27 (149) 28 (181) Parent and other (34) (46) (58) (66) Earnings $ 259 $ 16 $ 700 $ 369 Three months ended June 30, Six months ended June 30, (Dollars in millions) 2017 2016 2017 2016 (unaudited) Capital Expenditures and Investments Sempra Utilities: San Diego Gas & Electric $ 345 $ 273 $ 763 $ 602 Southern California Gas 325 310 682 650 Sempra South American Utilities 34 39 77 82 Sempra Infrastructure: Sempra Mexico 87 100 227 140 Sempra Renewables 31 279 100 478 Sempra LNG & Midstream 22 45 37 92 Parent and other 4 5 13 8 Consolidated Capital Expenditures and Investments $ 848 $ 1,051 $ 1,899 $ 2,052 (1) As adjusted for the adoption of ASU 2016-09 as of January 1, 2016. SEMPRA ENERGY Table E OTHER OPERATING STATISTICS (Unaudited) Three months ended June 30, Six months ended June 30, UTILITIES 2017 2016 2017 2016 SDG&E and SoCalGas Gas Sales (Bcf) (1) 71 73 197 186 Transportation (Bcf) (1) 148 144 304 292 Total Deliveries (Bcf) (1) 219 217 501 478 Total Gas Customers (Thousands) 6,825 6,789 Electric Sales (Millions of kWhs) (1) 3,565 3,512 7,329 7,285 Direct Access (Millions of kWhs) 786 772 1,573 1,606 Total Deliveries (Millions of kWhs) (1) 4,351 4,284 8,902 8,891 Total Electric Customers (Thousands) 1,438 1,429 Other Utilities Natural Gas Sales (Bcf) Sempra Mexico 7 7 15 15 Mobile Gas (2) (3) — 11 — 24 Willmut Gas (3) — 1 — 2 Natural Gas Customers (Thousands) Sempra Mexico 120 116 Mobile Gas (2) (3) — 85 Willmut Gas (3) — 19 Electric Sales (Millions of kWhs) Peru 1,780 1,887 3,674 3,836 Chile 691 682 1,502 1,481 Electric Customers (Thousands) Peru 1,086 1,065 Chile 696 679 ENERGY-RELATED BUSINESSES Sempra Infrastructure Power Sold (Millions of kWhs) Sempra Mexico (4) 650 665 1,705 1,245 Sempra Renewables (5) 1,192 725 2,206 1,492 Sempra LNG & Midstream 229 243 494 464 (1) Includes intercompany sales. (2) Includes transportation. (3) On September 12, 2016, Sempra LNG & Midstream completed the sale of the parent company of Mobile Gas and Willmut Gas. (4) Includes power sold at the Termoeléctrica de Mexicali natural gas-fired power plant and in 2017, at the Ventika wind power generation facilities acquired in December 2016. Also includes 50 percent of total power sold at the Energía Sierra Juárez wind power generation facility, in which Sempra Energy has a 50-percent ownership interest. Energía Sierra Juárez is not consolidated within Sempra Energy, and the related investment is accounted for under the equity method. (5) Includes 50 percent of total power sold related to solar and wind projects in which Sempra Energy has a 50-percent ownership. These subsidiaries are not consolidated within Sempra Energy, and the related investments are accounted for under the equity method. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT Three months ended June 30, 2017 (Dollars in millions) SDG&E SoCalGas Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 1,058 $ 770 $ 381 $ 273 $ 26 $ 122 $ (97) $ 2,533 Cost of sales and other expenses (651) (549) (294) (130) (20) (71) 78 (1,637) Depreciation and amortization (166) (126) (13) (37) (10) (11) (5) (368) Impairment loss — — — (71) — — — (71) Equity earnings, before income tax — — — — 16 2 — 18 Other income, net 15 9 2 60 1 — 4 91 Income (loss) before interest and tax (1) 256 104 76 95 13 42 (20) 566 Net interest (expense) income (2) (49) (27) (5) (17) (2) 3 (55) (152) Income tax (expense) benefit (54) (19) (20) (102) 5 (18) 41 (167) (Earnings) losses attributable to noncontrolling interests (4) — (6) 15 7 — — 12 Earnings (losses) $ 149 $ 58 $ 45 $ (9) $ 23 $ 27 $ (34) $ 259 Three months ended June 30, 2016 (Dollars in millions) SDG&E SoCalGas Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 992 $ 617 $ 385 $ 147 $ 6 $ 90 $ (81) $ 2,156 Cost of sales and other expenses (664) (495) (306) (86) (13) (336) 66 (1,834) Depreciation and amortization (158) (112) (14) (15) (2) (12) (1) (314) Impairment loss — (21) — — — — — (21) Equity earnings, before income tax — — — — 11 3 — 14 Other income (expense), net 13 6 5 (15) 1 1 12 23 Income (loss) before interest and tax (1) 183 (5) 70 31 3 (254) (4) 24 Net interest (expense) income (2) (48) (25) (6) (3) — 7 (62) (137) Income tax (expense) benefit (48) 29 (15) 12 9 99 20 106 Equity earnings, net of income tax — — — 33 — — — 33 Losses (earnings) attributable to noncontrolling interests 13 — (6) (16) — (1) — (10) Earnings (losses) $ 100 $ (1) $ 43 $ 57 $ 12 $ (149) $ (46) $ 16 (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. (2) Includes interest income, interest expense and preferred dividends of subsidiary. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT Six months ended June 30, 2017 (Dollars in millions) SDG&E SoCalGas Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 2,115 $ 2,011 $ 793 $ 537 $ 48 $ 254 $ (194) $ 5,564 Cost of sales and other expenses (1,267) (1,349) (620) (251) (35) (199) 159 (3,562) Depreciation and amortization (329) (252) (26) (73) (19) (21) (8) (728) Impairment loss — — — (71) — — — (71) Equity earnings, before income tax — — — — 18 3 — 21 Other income, net 33 20 5 187 1 1 13 260 Income (loss) before interest and tax (1) 552 430 152 329 13 38 (30) 1,484 Net interest (expense) income (2) (98) (52) (9) (47) (5) 9 (113) (315) Income tax (expense) benefit (144) (117) (39) (244) 16 (19) 85 (462) Equity earnings (losses), net of income tax — — 1 (9) — — — (8) (Earnings) losses attributable to noncontrolling interests (6) — (13) 10 10 — — 1 Earnings (losses) $ 304 $ 261 $ 92 $ 39 $ 34 $ 28 $ (58) $ 700 Six months ended June 30, 2016 (Dollars in millions) SDG&E SoCalGas Sempra South American Utilities Sempra Mexico Sempra Renewables Sempra LNG & Midstream Consolidating Adjustments, Parent & Other Total Revenues $ 1,983 $ 1,650 $ 785 $ 285 $ 13 $ 220 $ (158) $ 4,778 Cost of sales and other expenses (1,260) (1,111) (635) (168) (26) (490) 128 (3,562) Depreciation and amortization (317) (234) (27) (32) (3) (25) (4) (642) Impairment losses — (22) — — — — — (22) Equity earnings (losses), before income tax — — — — 18 (26) — (8) Other income (expense), net 27 16 7 (4) 1 1 24 72 Income (loss) before interest and tax (1) 433 299 130 81 3 (320) (10) 616 Net interest (expense) income (2) (96) (47) (10) (5) 1 11 (128) (274) Income tax (expense) benefit (3) (113) (54) (29) (28) 22 128 72 (2) Equity earnings, net of income tax — — 2 48 — — — 50 Losses (earnings) attributable to noncontrolling interests 12 — (12) (21) — — — (21) Earnings (losses) (3) $ 236 $ 198 $ 81 $ 75 $ 26 $ (181) $ (66) $ 369 (1) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance
Sempra Energy's IEnova Unit, Valero Sign Contracts For Liquid Fuels Projects In Mexico
SAN DIEGO, Aug. 3, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), signed long-term contracts with a subsidiary of Valero Energy Corp. for the storage capacity of the liquid fuels marine terminal to be constructed in Veracruz and two inland storage facilities to be constructed in Puebla and Mexico City. The three liquid fuels projects represent an estimated capital investment of U.S. $275 million. These facilities are IEnova's first ventures in Mexico's emerging $10 billion liquids market. "These projects will lay a solid foundation for us to expand this new business line into additional terminal opportunities and liquids transportation investments," said Joseph A. Householder, corporate group president of infrastructure businesses for Sempra Energy. "We plan to continue to build our strategic relationships as projects such as these fit IEnova's and Sempra Energy's core competencies." The 20-year concession agreement with the Port Authority of Veracruz awarded last month to develop, construct and operate a receipt, storage and send-out liquid fuels marine terminal also was signed today. The Veracruz terminal will have a capacity of 1.4 million barrels of gasoline, diesel and jet fuel to supply the central region of Mexico. The two storage terminals to be built and operated by IEnova in Puebla and Mexico City will have initial storage capacities of approximately 500,000 barrels and 800,000 barrels, respectively. IEnova will be responsible for the implementation of the projects, including permitting, engineering, procurement, construction, maintenance, financing and operations. IEnova expects the two inland storage terminals to be put in service in 2019, and the marine terminal, at the end of 2018. After commercial operations, and subject to all relevant regulatory and corporate authorizations, as well as the approval of the Port Authority of Veracruz, Valero will have the option to acquire 50 percent of the equity in all three assets. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide. 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. These statements can be identified by words like "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in forward-looking statements include: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in obtaining or maintaining permits and other authorizations on a timely basis, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; modifications of settlements; delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers (including with respect to regulatory assets associated with the San Onofre Nuclear Generating Station facility and 2007 wildfires) or regulatory agency approval for projects required to enhance safety and reliability; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; the impact on the value of our investment in natural gas storage and related assets from low natural gas prices, low volatility of natural gas prices and the inability to procure favorable long-term contracts for storage services; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party 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) or may be disputed by insurers; 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; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; changes in the tax code as a result of potential federal tax reform, such as the elimination of the deduction for interest and non-deductibility of all, or a portion of, the cost of imported materials, equipment and commodities; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to favorable international trade agreements, and changes that make our exports less competitive or otherwise restrict our ability to export; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; 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 Securities and Exchange Commission. 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. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same as the California Utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
SoCalGas Statement on Metro's Zero Emission Plan
Today the Los Angeles County Metropolitan Transit Agency Board of Directors endorsed a zero emission plan. This plan would transition its fleet of buses to all-electric by 2030. SoCalGas issued the following statement in response: “More than 25 years ago, Metro made the decision to become the cleanest bus fleet in America by switching from diesel to buses that run on compressed natural gas. As a result, the air in Southern California became cleaner. The number of cancer-causing particulates and smog-forming pollutants from buses decreased dramatically; and greenhouse gases dropped by about 150 tons per day. With the replacement of fossil gas with renewable natural gas as voted by the Board last month, the greenhouse gases will reach zero, far cleaner than electric buses given California’s current electricity mix.” ###
Media Advisory: LA County Supervisors Kuehl and Barger to Honor SoCalGas Employees for Role in Protecting Public Safety During Woodland Hills Explosion
MEDIA ADVISORY WHAT: Los Angeles County Supervisors Sheila Kuehl and Kathryn Barger will honor two SoCalGas employees for their part in ensuring the safety of a Woodland Hills couple last month. This recognition coincides with SoCalGas’ advertising campaign currently reaching thousands of Southern Californians, which aims to increase public awareness of safety issues surrounding natural gas. BACKGROUND: On June 20th, SoCalGas employees Hector Rocha and Jeff Catton responded to a call from a couple in Woodland Hills who suspected a gas leak caused by a contractor hired to do plumbing repairs at their home. Following SoCalGas policy, Customer Service Representative Hector Rocha advised the residents to exit the home immediately, then called Dispatch to send a crew. Energy Technician Jeff Catton arrived on scene within minutes. Catton followed policy and parked a safe distance from the home. Trying to get his attention, the couple followed him. Moments after the couple moved away from their home, there was an explosion followed by a fire. No one was injured in the incident. WHEN: Wednesday, July 26, 2017 – 1:00 p.m. Recognition will be given during a State of the County meeting by the United Chambers of Commerce of the San Fernando Valley. WHO: Los Angeles County Supervisors Sheila Kuehl, Third District, and Supervisor Kathryn Barger, Fifth District, will honor Jeff Catton, SoCalGas Energy Technician, and Hector Rocha, SoCalGas Customer Service Representative. WHERE: Sportsmen’s Lodge Events Center,12833 Ventura Blvd., Studio City, CA 91604
Sempra Energy To Report Second-Quarter 2017 Earnings Aug. 4
SAN DIEGO, July 24, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) plans to release its second-quarter 2017 earnings at 8:30 a.m. EDT, Aug. 4. Sempra Energy executives will conduct a conference call at 12 p.m. EDT, Aug. 4. Briefing materials will be posted on the company's website, www.sempra.com, by 8:30 a.m. EDT, Aug. 4. Investors, media, analysts and the public may listen to a live webcast of the conference call on Sempra Energy's website, by clicking on the appropriate audio link. For those unable to obtain access to the live webcast, the teleconference will be available on replay a few hours after its conclusion on the company's website, or by dialing (888) 203-1112 and entering passcode 4175144. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide. [SRE-F] SOURCE Sempra Energy
SoCalGas Statement on State's Announcement Confirming Safety of Aliso Canyon Natural Gas Storage Facility
LOS ANGELES, July 19, 2017 /PRNewswire/ -- Today, the California Public Utilities Commission (CPUC) and Division of Oil, Gas, and Geothermal Resources (DOGGR) cleared SoCalGas to resume limited injections at the Aliso Canyon natural gas storage facility as described here . SoCalGas issued the following statement in response to the state's announcement: "Aliso Canyon is an important part of Southern California's energy system, supporting the reliability of natural gas and electricity services for millions of people. SoCalGas has met—and in many cases, exceeded—the rigorous requirements of the state's comprehensive safety review. "Under new regulations, gas will only flow through newly installed and pressure-tested, inner steel tubing. The outer casing of wells only will serve as a secondary layer of protection. At the state's direction, the field also will be operated at a reduced pressure, providing an added margin of safety. "Additionally, SoCalGas has introduced industry-leading technology and practices in our operations at Aliso Canyon, including: Around-the-clock pressure monitoring of all wells in a 24-hour operations center; Daily patrols to visually examine every well four times each day; Daily scanning of each well, using sensitive infrared thermal imaging cameras that can detect leaks; and Enhanced training for our employees and contractors. "Injection will not resume immediately. State agencies have outlined steps that must be completed before injections can resume, including a leak survey of the facility and a flyover to measure methane emissions at the site. "We are committed to maintaining a transparent and open dialogue with the communities near Aliso Canyon and will provide regular updates on our progress at socalgas.com/alisoupdates." SOURCE SoCalGas
SoCalGas Statement on the Release of the Draft Clean Air Action Plan by the Ports of Los Angeles and Long Beach
Today the harbor commissioners of the Ports of Los Angeles and Long Beach released a draft Clean Air Action Plan (CAAP). The CAAP lays out a plan to reduce emissions resulting from transportation activities at the ports. SoCalGas Vice President for Customer Solutions, Lisa Alexander issued the following statement in response to the draft plan: “SoCalGas applauds the Commissioners of the San Pedro Bay Ports and Mayors Garcetti and Garcia for leading the charge to deliver cleaner air to communities across Southern California. “By including near-zero emission trucks fueled by renewable natural gas in the Clean Air Action Plan, the ports showed their commitment to making immediate improvements in air quality and public health. “Near-zero, natural gas technology is available today and is supported by the South Coast Air Quality Management District and Mayor Garcetti’s Sustainable Freight Advisory Committee as an immediate solution to combat air pollution and slow climate change. “By deploying heavy-duty trucks fueled by renewable natural gas now, we can lower greenhouse gas emissions from trucks serving the ports by 80 percent and can reduce air pollution by 90 percent, providing much needed relief for under-served communities living near the ports and along freight corridors all across the region.” ###
Lane Reduction on Sepulveda Boulevard in Los Angeles on Monday, July 17
WHAT: On Monday, July 17 from 6 a.m. to 6 p.m., SoCalGas will be conducting pipeline safety work on Sepulveda Boulevard, north and south of Sepulveda Way in Los Angeles. The intersection of Sepulveda Boulevard and Sepulveda Way will remain open to traffic. Northbound and southbound traffic on Sepulveda Boulevard will be reduced to one lane in each direction. No interruption to natural gas service is anticipated. Customers may smell the odor of natural gas. Although this is normal when crews are working, SoCalGas encourages anyone who has concerns about the smell of gas to call us from a safe location at 1-800-427-2200 . SoCalGas is available 24 hours a day, seven days a week. WHERE: Sepulveda Boulevard, north and south of Sepulveda Way, near Interstate 405, Los Angeles, CA, as shown in this link. WHEN: LANE REDUCTION: 6 a.m. to 6 p.m., Monday, July 17, 2017 NOTE: This effort is part of SoCalGas’ Pipeline Safety Enhancement Plan (PSEP), a multibillion-dollar program that tests and updates the natural gas pipeline infrastructure in Southern California. SoCalGas’ five-year capital plan includes $6 billion in infrastructure investments, including approximately $1.2 billion this year for improvements to distribution, transmission and storage systems and for pipeline safety. PUBLIC CONTACT: Customers with questions or concerns about the construction work may call SoCalGas’ Customer Contact Center 24-hours a day, seven-days a week at 800-427-2200 . Our top priorities are to work safely and to provide the communities we serve with safe and reliable natural gas service.
Sempra Energy's IEnova Unit Awarded $155 Million Liquid Fuels Project In Veracruz
SAN DIEGO, July 12, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), has been awarded a 20-year contract by the Veracruz Port Administration in Mexico to build and operate a receipt, storage and send-out liquid fuels marine terminal on the Mexican Gulf Coast. With an expected investment of approximately $155 million, the new liquid fuels terminal will have a capacity of 1.4 million barrels of gasoline, diesel and jet fuel to supply the central region of Mexico. Operations are expected to commence in the second half of 2018. "This project represents an exciting new market entry for IEnova in Mexico," said Joseph A. Householder, corporate group president of infrastructure businesses for Sempra Energy. "IEnova continues to position itself strategically to help develop Mexico's energy infrastructure." IEnova will be responsible for the development of the liquid fuels terminal project, including obtaining permits, engineering, procurement, construction and financing, as well as maintenance and operations. IEnova estimates that the project will create approximately 500 direct jobs and up to 2,000 indirect jobs during construction. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide. 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. These statements can be identified by words like "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in forward-looking statements include: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in obtaining or maintaining permits and other authorizations on a timely basis, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; modifications of settlements; delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers (including with respect to regulatory assets associated with the San Onofre Nuclear Generating Station facility and 2007 wildfires) or regulatory agency approval for projects required to enhance safety and reliability; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; the impact on the value of our investment in natural gas storage and related assets from low natural gas prices, low volatility of natural gas prices and the inability to procure favorable long-term contracts for storage services; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party 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) or may be disputed by insurers; 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; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; changes in the tax code as a result of potential federal tax reform, such as the elimination of the deduction for interest and non-deductibility of all, or a portion of, the cost of imported materials, equipment and commodities; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to favorable international trade agreements, and changes that make our exports less competitive or otherwise restrict our ability to export; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation; 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 Securities and Exchange Commission. 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. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same as the California Utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Sempra Energy's IEnova Unit To Report Second-Quarter 2017 Earnings July 26
SAN DIEGO, July 11, 2017 /PRNewswire/ -- Sempra Energy's Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), plans to release its second-quarter 2017 earnings at 7 p.m. EDT, July 26, in advance of a conference call with IEnova executives at 11 a.m. EDT, July 27. Briefing materials will also be posted on IEnova's website, www.ienova.com.mx, by 7 p.m. EDT, July 26. Investors, media, analysts and the public may listen to a live webcast of the conference call on IEnova's website, by clicking on the appropriate audio link. For those unable to obtain access to the live webcast, the teleconference will be available on replay a few hours after its conclusion on the company's website, or by dialing 001-855-859-2056 and entering passcode 3594 1686#. IEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2016, the company has invested more than US$7 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova is the first energy infrastructure company to be listed on the Mexican Stock Exchange. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2016 revenues of more than $10 billion. The Sempra Energy companies' more than 16,000 employees serve approximately 32 million consumers worldwide. Sempra South American Utilities, Sempra Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same as the California Utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Traffic Advisory: Lane Reduction on Sepulveda Boulevard in Los Angeles on Tuesday, July 11
WHAT: On Tuesday, July 11 from 6 a.m. to 6 p.m., SoCalGas will be conducting pipeline safety work on Sepulveda Boulevard between from Montana Avenue to Cashmere Street in Los Angeles. The intersection of Sepulveda Boulevard and Montana Avenue will remain open to traffic. Northbound and southbound traffic on Sepulveda Boulevard will be reduced to one lane in each direction. No interruption to natural gas service is anticipated. Customers may smell the odor of natural gas. Although this is normal when crews are working, SoCalGas encourages anyone who has concerns about the smell of gas to call us from a safe location at 1-800-427-2200 . SoCalGas is available 24 hours a day, seven days a week. WHERE: Sepulveda Boulevard from Montana Avenue to Cashmere Street, near Interstate 405, Los Angeles, CA, as shown in this link. WHEN: LANE REDUCTION: 6 a.m. to 6 p.m., Tuesday, July 11, 2017 NOTE: This effort is part of SoCalGas’ Pipeline Safety Enhancement Plan (PSEP), a multibillion-dollar program that tests and updates the natural gas pipeline infrastructure in Southern California. SoCalGas’ five-year capital plan includes $6 billion in infrastructure investments, including approximately $1.2 billion this year for improvements to distribution, transmission and storage systems and for pipeline safety. PUBLIC CONTACT: Customers with questions or concerns about the construction work may call SoCalGas’ Customer Contact Center 24-hours a day, seven-days a week at 800-427-2200 . Our top priorities are to work safely and to provide the communities we serve with safe and reliable natural gas service.
Traffic Advisory: Lane Closures on Highway 1 in the City of Lompoc Begin Monday, July 10
WHAT: On July 10, at 9 a.m., SoCalGas will begin a natural gas pipeline replacement project along Highway 1 in the city of Lompoc in Santa Barbara County. This is part of a larger San Luis Obispo County/Lompoc project that began earlier this spring. Customers are not anticipated to experience any natural gas service interruptions. WHERE: During construction, one northbound and one southbound lane on Highway 1 near the Santa Ynez River – north of the Lompoc Airport – will close. Lane closures will be in effect on Highway 1 from the Santa Ynez River to George Miller Drive. Lane closures will be in effect the following work hours and days: · 9 a.m. to 4 p.m. Monday through Thursday; · 8 p.m. to 6 a.m. Monday through Thursday nights; and, · 9 a.m. to 2 p.m. on Fridays. WHEN: Work begins on July 10 and will continue through October. NOTE: This natural gas pipeline replacement project is part of SoCalGas’ Pipeline Safety Enhancement Plan (PSEP), a multi-billion-dollar program that tests and updates the natural gas pipeline infrastructure in Southern California. SoCalGas’ five-year capital plan includes $6 billion in infrastructure investments, including approximately $1.2 billion this year for improvements to distribution, transmission and storage systems and for pipeline safety. PUBLIC CONTACT: ​ Customers with questions or concerns about the construction work may call SoCalGas’ Customer Contact Center 24-hours a day, seven-days a week at 800-427-2200 . Our top priorities are to work safely and to provide the communities we serve safe and reliable natural gas service. MEDIA CONTACT: Rosa María Santana | SoCalGas | 213-479-7781 rsantana@semprautilities.com | 24-Hour Media Hotline: 213-244-2442 www.socalgas.com/newsroom | @SoCalGasNews
Traffic Advisory: Lane Reduction on Sepulveda Boulevard in Los Angeles on Wednesday, July 5
WHAT: On Wednesday, July 5 from 7 a.m. to 3:30 p.m., SoCalGas will be conducting pipeline safety work on Sepulveda Boulevard north and south of Montana Avenue in Los Angeles. The intersection of Sepulveda Boulevard and Montana Avenue will remain open to traffic. Northbound and southbound traffic on Sepulveda Boulevard will be reduced to one lane. No interruption to natural gas service is anticipated. WHERE: Sepulveda Boulevard at the intersection of Montana Avenue, near Interstate 405, Los Angeles, CA, as shown in this link. WHEN: LANE REDUCTION: 7 a.m. to 3:30 p.m., Wednesday, July 5, 2017 NOTE: This effort is part of SoCalGas’ Pipeline Safety Enhancement Plan (PSEP), a multibillion-dollar program that tests and updates the natural gas pipeline infrastructure in Southern California. SoCalGas’ five-year capital plan includes $6 billion in infrastructure investments, including approximately $1.2 billion this year for improvements to distribution, transmission and storage systems and for pipeline safety. PUBLIC CONTACT: Customers with questions or concerns about the construction work may call SoCalGas’ Customer Contact Center 24-hours a day, seven-days a week at 800-4272200. Our top priorities are to work safely and to provide the communities we serve with safe and reliable natural gas service.

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

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