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Displaying results 1141 - 1155 of 1201
Sempra Energy Named To Dow Jones Sustainability North America Index For 7th Year
SAN DIEGO, Sept. 13, 2017 /PRNewswire/ -- For the seventh consecutive year, Sempra Energy (NYSE: SRE) has been named to the Dow Jones Sustainability North America Index. The index recognizes top companies in North America in terms of economic, environmental and social criteria. Sempra Energy is one of eight companies from the utilities industry to be recognized. "Sustainability is a priority for our company and embedded in our culture," said Dennis V. Arriola, executive vice president of corporate strategy and external affairs for Sempra Energy. "This recognition reflects the importance we place on being a responsible partner." Sempra Energy recently released its ninth Corporate Responsibility Report, which documents the company's continuing progress in areas ranging from emissions and water use reductions to safety and diversity. Among the accomplishments, Sempra Energy's companywide emissions rate for power generation was roughly half the U.S. national average last year. Established in 1999, the Dow Jones Sustainability Indices are compiled annually by S&P Dow Jones and RobecoSAM, a sustainable investment specialty firm. They were the first organizations in the world to track the financial performance of companies that lead their respective industries in managing economic, environmental and social issues with a strong focus on long-term shareholder value. The indices serve as benchmarks for investors who integrate sustainability considerations into their portfolios. For more information on the Dow Jones Sustainability Indices, visit: www.sustainability-indexes.com. To learn more about sustainability at Sempra Energy, visit: http://www.sempra.com/sustainability/. 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: the risk that our proposed merger involving Energy Future Holdings Corp. (EFH) and EFH's indirect interest in Oncor Electric Delivery Company LLC (Oncor) (the Merger) may not receive bankruptcy court and governmental and regulatory approvals required to consummate the Merger or that required bankruptcy court and governmental and regulatory approvals may delay the Merger or result in the imposition of conditions that could cause the parties to abandon the transaction or be onerous to us; the risk that a condition to closing of the Merger may not be satisfied, including receipt of a satisfactory supplemental private letter ruling from the Internal Revenue Service; the ability to fully realize cost savings and any other expected synergies from the transactions related to the Merger within the expected time-frames or at all; disruption from the Merger may make it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; risks associated with diverting, and continuing to divert, significant management resources towards the completion of the Merger; 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
Sempra Energy Declares Common Dividend
SAN DIEGO, Sept. 8, 2017 /PRNewswire/ -- Today, the board of directors of Sempra Energy (NYSE:SRE) declared a quarterly dividend of $0.8225 per share of common stock. The current dividend is payable Oct. 15, 2017, to shareholders of record at the close of business on Sept. 22, 2017. 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: the risk that our proposed merger involving Energy Future Holdings Corp. (EFH) and EFH's indirect interest in Oncor Electric Delivery Company LLC (Oncor) (the Merger) may not receive bankruptcy court and governmental and regulatory approvals required to consummate the Merger or that required bankruptcy court and governmental and regulatory approvals may delay the Merger or result in the imposition of conditions that could cause the parties to abandon the transaction or be onerous to us; the risk that a condition to closing of the Merger may not be satisfied, including receipt of a satisfactory supplemental private letter ruling from the Internal Revenue Service; the ability to fully realize cost savings and any other expected synergies from the transactions related to the Merger within the expected time-frames or at all; disruption from the Merger may make it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; risks associated with diverting, and continuing to divert, significant management resources towards the completion of the Merger; 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] SOURCE Sempra Energy
SoCalGas’ Advanced Meter Project Donates Over 7,600 Tools and Supplies to Workforce Development Organizations
Southern California Gas Co. (SoCalGas) today announced the company donated over 7,600 gently used and surplus tools and supplies to the Los Angeles Conservation Corps, Los Angeles Trade-Technical College (LATTC) and Orange County Conservation Corps (OCCC). The items are left over from the company’s Advanced Meter project and will benefit the organizations’ respective workforce development programs. “SoCalGas is proud to partner with the LA Conservation Corps, LATTC and OCCC, three organizations that are improving the lives of young people through high quality job training programs,” said Gillian Wright, vice president of customer services at SoCalGas. “We are glad to repurpose tools and supplies from Advanced Meter for continued use long after the project ends.” The donated items include drills, flashlights, hammers, tool bags and wrenches. They will be used by LA Conservation Corps and OCCC Corpsmembers as they work on conservation projects, such as planting trees, refurbishing hiking trails and building community gardens, and students in LATTC’s Construction, Maintenance and Utilities (CMU) program, which provides education and training in a variety of CMU related careers, such as carpentry, plumbing and refrigeration and air conditioning. “We are amazed at all the different ways SoCalGas supports our mission,” said Wendy Butts, CEO of the LA Conservation Corps. “This donation will not only help our Corpsmembers do their jobs more efficiently and effectively, but these items will help keep our crews safe while they work on projects in the field. Our teams cannot wait to put this equipment to good use.” “We are grateful for SoCalGas’ commitment, as well as its continued support and service, to our community and nonprofits like ours,” added Katharyn O. Muniz, CEO of OCCC. “The materials will be invaluable to our Corpsmembers as they work on environmentally driven projects that benefit the people and communities of Orange County.” “LATTC greatly appreciates SoCalGas’ generous donation,” said Sydney Kamlager, president of the Los Angeles Community College District. “The CMU program provides students with the knowledge and skills they need to succeed in their chosen career paths. The donated tools will be an integral part of their hands-on education.” Photos of the donated items are available here. $1 Billion Advanced Meter Project Nears Completion SoCalGas’ $1.05B Advanced Meter project to upgrade approximately six million natural gas meters across the company’s service territory with advanced meter technology is nearing completion. Advanced meters automatically and securely transmit natural gas usage data to the company’s customer service and billing center. Hourly usage data is available to customers through SoCalGas’ online My Account portal and mobile app. The data can help customers better understand how they are using natural gas and assist them in adjusting their consumption to save energy and potentially reduce their monthly bills. Since the project began, SoCalGas has implemented new online tools for customers to view and analyze their hourly usage and costs, compare bills and create customized savings plans. Hourly usage data also helps SoCalGas better analyze customer load patterns, which aids in the design of new energy efficiency programs. For example, SoCalGas has developed new and innovative residential conservation pilot programs that leverage advanced meter data, such as monthly energy reports that provide energy usage and comparison information and weekly “Bill Tracker Alerts.” During the 2016-2017 heating season, these programs produced an average natural gas savings of 1.6% and savings rates as high as 3.4% for customers included in the pilots. Additionally, advanced meters identify abnormal natural gas consumption, which allows SoCalGas to more quickly identify and respond to potential safety situations. They will also help improve air quality by reducing approximately 140,000 tons of CO2 emissions each year through anticipated decreased customer gas use and fewer SoCalGas vehicles driven by meter readers on the road. For more information about advanced meters, click here. 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. # # #
U.S. Bankruptcy Court Approves Sempra Energy's Merger Agreement With Energy Future
SAN DIEGO, Sept. 6, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that the U.S. Bankruptcy Court for the District of Delaware (Bankruptcy Court) has approved the merger agreement that Energy Future Holdings Corp. (Energy Future) entered into with Sempra Energy on Aug. 21, 2017. This approval is an important step in Sempra Energy's proposal to acquire Energy Future's 80-percent ownership interest in Oncor Electric Delivery Company, LLC (Oncor). "We are pleased that our plan to resolve Energy Future's long-running bankruptcy proceeding has received approval from the Bankruptcy Court to move forward," said Debra L. Reed, chairman, president and CEO of Sempra Energy. "The next step in the approval process is making our regulatory filing with the Public Utility Commission of Texas. Oncor is a well-managed, top-tier utility, operating in one of the strongest U.S. growth markets. We believe it will be an excellent strategic fit with our portfolio of utility and energy infrastructure businesses, while opening up a new avenue for our long-term growth." Sempra Energy has committed to ensuring that Oncor remains independent, financially strong and based in Dallas with local management, while keeping in place the ring-fence measures that help insulate Oncor from Energy Future's bankruptcy proceedings. "Sempra Energy is a well-respected and experienced utility operator with a quality workforce and management team," said Bob Shapard, CEO of Oncor. "We look forward to working with Sempra Energy, regulators and other stakeholders as the process unfolds. Oncor takes great pride in powering the Texas economy, and we wake up every single day with one mission in mind, keeping the lights on for more than 10 million Texans." Oncor and Sempra Energy are expected to file a joint application with the Public Utility Commission of Texas in October for approval of the transaction. Sempra Energy will pay approximately $9.45 billion in cash to acquire Energy Future and its 80-percent ownership interest in Oncor. Sempra Energy expects its equity ownership after the transaction will be approximately 60 percent of Energy Future. In addition to approving Energy Future's entry into the Sempra Energy merger agreement, today's Bankruptcy Court's order approved the debtors' plan support agreement with Sempra Energy and certain affiliates of Elliott Capital Management (Elliott), which hold a majority of the claims against the debtors. Under the plan support agreement, the debtors and Elliott have agreed to take all action that is reasonably necessary to implement the merger agreement, and Elliott has agreed to support the transaction and to vote its claims to accept the plan. In a separate order, the Bankruptcy Court also authorized the debtors to solicit votes on the plan. The merger agreement remains subject to customary closing conditions, including further approvals by the Bankruptcy Court, the Public Utility Commission of Texas, the Federal Energy Regulatory Commission, and the U.S. Department of Justice under the Hart-Scott-Rodino Act. For more information, visit Sempra.com/newsroom/oncornews.shtml. Headquartered in Dallas, Oncor is a regulated electric transmission and distribution service provider that serves approximately 10 million Texans. Using cutting-edge technology, more than 3,900 employees work to safely maintain reliable electric delivery service with the largest distribution and transmission system in Texas; made up of approximately 122,000 miles of lines and more than 3.4 million meters across the state. 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 such as "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. Such forward-looking statements include, but are not limited to, statements about the anticipated benefits of the proposed merger involving Sempra Energy and Energy Future, including future financial or operating results of Sempra Energy or Oncor, Sempra Energy's, Energy Future's or Oncor's plans, objectives, expectations or intentions, the expected timing of completion of the transaction, the anticipated improvement in credit ratings of Oncor, and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by any such forward-looking statements include risks and uncertainties relating to: the risk that Sempra Energy, Energy Future or Oncor may be unable to obtain bankruptcy court and governmental and regulatory approvals required for the merger, or that required bankruptcy court and governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties to abandon the transaction or be onerous to Sempra; the risk that a condition to closing of the merger may not be satisfied, including receipt of a satisfactory supplemental private letter ruling from the Internal Revenue Service; the expected timing to consummate the proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the diversion of management time and attention to merger-related issues. Additional 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 U.S. 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] SOURCE Sempra Energy
Sempra LNG & Midstream Media Statement In Response To Hurricane Harvey
SAN DIEGO, Sept. 1, 2017 /PRNewswire/ -- Sempra LNG & Midstream issued the following statement in response to Hurricane Harvey: Our thoughts and prayers are with the people of Texas and Louisiana that have been impacted by Hurricane Harvey. We continue to monitor the situation and support our Texas and Louisiana employees, their families and their safety during this difficult time. The Cameron Parish Office of Emergency Preparedness lifted its Mandatory Order of Evacuation on Wednesday. Cameron LNG's contractor, a joint venture between Chicago Bridge and Iron and Chiyoda Corporation (CCJV), arrived Thursday morning to assess the site and indicated no significant damage during its preliminary inspection. CCJV will continue their assessment over the next few days. We anticipate construction activities to resume next week when the site re-opens on September 5. Sempra LNG & Midstream leads Sempra Energy's (NYSE: SRE) efforts to develop, own and operate midstream natural gas infrastructure, LNG receipt terminals and liquefaction facilities. Additional information about Sempra LNG & Midstream can be found at SempraLNGM.com. This communication contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable legislation. 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 U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which Sempra operates; 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 availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of Sempra's investments, and risks that Sempra's partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, explosions, terrorist attacks and other events that disrupt Sempra's operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject Sempra 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 storage and pipeline infrastructure, the information and systems used to operate Sempra's businesses; 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 Sempra's exports less competitive or otherwise restrict Sempra's ability to export; 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 LNG & Midstream, LLC and Port Arthur LNG, LLC 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 LNG & Midstream
Sempra Energy Foundation, Employees To Donate Up To $250,000 To Assist Hurricane Harvey Victims
SAN DIEGO, Aug. 28, 2017 /PRNewswire/ -- The Sempra Energy Foundation and company employees are pledging up to $250,000 in disaster-relief assistance funds to help Hurricane Harvey victims. "Thousands of families have been affected by what some are calling one of the fiercest storms in U.S. history," said Dennis V. Arriola, chairman of the Sempra Energy Foundation. "It is our hope that this donation may help bring comfort to the Gulf Coast communities that have been displaced by this devastating storm." The Sempra Energy Foundation will make an immediate contribution of $75,000 to the American Red Cross Hurricane Harvey Relief Fund and an additional $75,000 donation to Americares in support of relief efforts in Texas and Louisiana. The Sempra Energy Foundation also will match up to an additional $50,000 in Sempra Energy companies' employee donations, the potential combined donation could exceed $250,000. The Sempra Energy Foundation is the 501(c)(3) private foundation of Sempra Energy, 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. For more information on the Sempra Energy Foundation, visit www.sempraenergyfoundation.org. SOURCE Sempra Energy
Sempra Energy To Hold Conference Call Aug. 25 On Oncor Transaction
SAN DIEGO, Aug. 23, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) plans to hold a conference call with company executives on Aug. 25 at 10 a.m. EDT to discuss the recently announced agreement to acquire Energy Future Holdings Corp., the indirect owner of 80 percent of Oncor Electric Delivery Company, LLC. Investors, media, analysts and the public may listen to a live webcast of the conference call on the company's website, www.sempra.com, 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 4553103. Briefing materials will be posted on the company's website at 9 a.m. EDT, Aug. 25. 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 Streamlines Processes to Support Renewable Gas Projects
LOS ANGELES, Aug. 22, 2017 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced new initiatives that will make it easier for renewable gas production facilities to connect to the company's natural gas pipeline system. First is the creation of a downloadable toolkit to assist renewable gas producers and developers who are interested in interconnecting their projects with the SoCalGas pipeline network. In addition, new provisions will enable SoCalGas and renewable gas producers to accelerate the interconnection process by procuring the necessary material much earlier than previously allowed. Like electricity, natural gas can be made from renewable sources. About 80 percent of all methane emissions in California come from the state's dairy and farm operations, landfills and wastewater treatment plants. That methane can be harnessed and cleaned to produce renewable natural gas for use in transportation as well as in homes and businesses. A study conducted by the University of California at Davis estimates that the natural gas needs of around 2.4 million California homes could be fueled with RNG derived from the state's existing organic waste alone. Already, 60 percent of the fuel used in natural gas vehicles in California is renewable, and SoCalGas expects that to increase to 90 percent by 2018. This can help reduce the need for other fossil-based fuels, and increase our supplies with a local renewable fuel. "Renewable natural gas is key to achieving the state's ambitious air quality goals and providing families in California with a clean and reliable source of energy to heat and power their homes for generations to come," said Lisa Alexander, vice president of customer solutions for SoCalGas. "Renewable natural gas will also help transform transportation in the state, which accounts for 80 percent of smog-forming pollution and that disproportionally burdens our most vulnerable communities. With today's technology, we can harness this otherwise wasted energy to de-carbonize our pipeline system, reduce greenhouse gas emissions, and slow climate change." "Since 1988 all but two renewable natural gas projects have been developed outside of California—which explains why the state imports most of the renewable natural gas (RNG) it consumes," said Johannes Escudero, chief executive officer and executive director of the Coalition for Renewable Natural Gas. "That is changing—and we appreciate SoCalGas' leadership and ongoing commitment to the RNG Coalition and industry as it relates to addressing the minimum heating value requirement that would prevent California from fully realizing the total economic and environmental benefits associated with increased RNG development, pipeline interconnection, deployment and utilization in-State." "SoCalGas is leading the way to a decarbonized gas supply in California, which will help the state reduce the most damaging climate and air pollutants," said Julia Levin, executive director of the Bioenergy Association of California. "In addition to protecting communities from pollution and wildfires, increasing in-state biogas production will create good jobs throughout California. These efforts are a win-win for the environment and the economy." SoCalGas is also working to accelerate the use of renewable natural gas, by capturing methane emissions to decarbonize its pipelines. SoCalGas aims to build and operate more renewable natural gas interconnection facilities throughout California to bring more clean, renewable natural gas to its customers. This summer the company will complete its first renewable natural gas interconnection project in Perris, California. When the project is completed, renewable natural gas produced by a waste management company will power a fleet of more than 320 waste hauling trucks. SoCalGas recently launched a new Renewable Gas website to provide general information on biogas derived renewable natural gas. A key feature of this site is a downloadable toolkit to assist biogas producers and developers who are interested in putting renewable natural gas into the SoCalGas pipeline network. In addition, the new website also explains the monetary incentive program for utility interconnection projects. In the future, SoCalGas plans to include information on other types of renewable gases and technologies to the website, such as renewable hydrogen and power-to-gas. SoCalGas reviewed its current system and identified several areas that would smooth the path to interconnection for renewable natural gas developers. One enhancement, approved by the California Public Utilities Commission (CPUC) on April 8, enables SoCalGas and potential interconnectors to speed the process by procuring the necessary materials much earlier than previously allowed. Previously, procurement of these materials could only be done when the interconnection studies were concluded and a construction agreement was executed. About Southern California Gas Co.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. SOURCE SoCalGas
Traffic Advisory: Lane Closures on Vine Street in the City of Paso Robles to Begin Monday, Aug. 21
WHAT: On Aug. 21, at 7 a.m., SoCalGas will begin a natural gas pipeline replacement project on Vine Street in the city of Paso Robles in San Obispo County. Customers are not anticipated to experience any natural gas service interruptions. WHERE: During construction, northbound and southbound traffic on Vine Street will be reduced to one lane near the construction site. Lane closures will be in effect on Vine Street from Cuerno Lago Way to Wilmar Place. In addition, northbound travel on Ramada Drive near the parking lot of the Firestone Brewery will be reduced to one lane during the construction work. Lane closures will be in effect the following work hours and days: • 7 a.m. to 4:30 p.m. Monday through Friday. WHEN: Work begins on Aug. 21 and will take approximately five months to complete. 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.
Sempra Energy Announces Agreement To Acquire Ownership Interest In Oncor
SAN DIEGO, Aug. 20, 2017 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced an agreement to acquire Energy Future Holdings Corp. (Energy Future), the indirect owner of 80 percent of Oncor Electric Delivery Company, LLC (Oncor), operator of the largest electric transmission and distribution system in Texas. Under the agreement, Sempra Energy will pay approximately $9.45 billion in cash to acquire Energy Future and its ownership in Oncor, while taking a major step forward in resolving Energy Future's long-running bankruptcy case. The enterprise value of the transaction is approximately $18.8 billion, including the assumption of Oncor's debt. The transaction is expected to be accretive to Sempra Energy's earnings beginning in 2018. "Both Sempra Energy and Oncor share more than 100 years of experience operating utilities that deliver safe, reliable energy to millions of customers," said Debra L. Reed, chairman, president and CEO of Sempra Energy. "With its strong management team and long, distinguished history as Texas' leading electric provider, Oncor is an excellent strategic fit for our portfolio of utility and energy infrastructure businesses. We believe our agreement with Energy Future will help ensure that Texas utility customers continue to receive the outstanding electric service they have come to expect from Oncor and provide stability to Oncor's nearly 4,000 employees." "For investors, this transaction is expected to enhance our earnings beginning in 2018 and further expand our regulated earnings base, while serving as a platform for future growth in the Texas energy market and U.S. Gulf Coast region," said Reed. Sempra Energy expects to fund the $9.45 billion transaction using a combination of its own debt and equity, third-party equity, and $3 billion of expected investment-grade debt at the reorganized holding company. Sempra Energy has received financing commitments from RBC Capital Markets and Morgan Stanley. Sempra Energy expects its equity ownership after the transaction to be approximately 60 percent of the reorganized holding company. As a result of the transaction, it is anticipated that Oncor's underlying financial strength and credit ratings will improve. Sempra Energy also will maintain the existing independence of Oncor's board of directors, which has protected Oncor and its customers during the ongoing Energy Future bankruptcy. "It is important for Oncor to remain financially strong," Reed said. "Our proposal will help bring a satisfactory resolution to Energy Future's bankruptcy case, keep Oncor financially strong, and protect Oncor customers, while addressing the needs of Texas regulators, creditors and the U.S. Bankruptcy Court." As part of the transaction, Sempra Energy has committed to support Oncor's plan to invest $7.5 billion of capital over a five-year period to expand and reinforce its transmission and distribution network. At the completion of the transaction, Bob Shapard, Oncor's CEO, will become executive chairman of the Oncor board of directors and Allen Nye, currently Oncor's general counsel, will succeed Shapard as Oncor's CEO. Both are slated to serve on the Oncor board, which will consist of 13 directors, including seven independent directors from Texas, two from existing equity holders and two from the new Sempra Energy-led holding company. The transaction is subject to customary closing conditions, including the approval of the Public Utility Commission of Texas, U.S. Bankruptcy Court of Delaware, Federal Energy Regulatory Commission and the U.S. Department of Justice under the Hart-Scott-Rodino Act. Sempra Energy expects the transaction to be completed in the first half of 2018. Lazard and Morgan Stanley are acting as financial advisors to Sempra Energy and, White & Case LLP, as legal advisor. Sempra Energy plans to webcast a conference call for investors, financial analysts, news media and the general public later this week, with details to follow. Headquartered in Dallas, Oncor is a regulated electric transmission and distribution service provider that serves 10 million customers across Texas. Using cutting-edge technology, more than 3,700 employees work to safely maintain reliable electric delivery service with the largest distribution and transmission system in Texas; made up of approximately 122,000 miles of lines and more than 3.4 million meters across the state. Sempra Energy includes San Diego Gas & Electric, Southern California Gas Co., Sempra South American Utilities, Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream. Sempra LNG & Midstream currently is developing the Port Arthur LNG liquefaction-export project on the Gulf Coast of Texas. Sempra Energy formerly owned and operated 10 power plants in the Texas electric market and currently maintains a 200-person office in Houston to support marketing and development activities. 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 such as "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. Such forward-looking statements include, but are not limited to, statements about the anticipated benefits of the proposed merger involving Sempra Energy and Energy Future, including future financial or operating results of Sempra Energy or Oncor, Sempra Energy's, Energy Future's or Oncor's plans, objectives, expectations or intentions, the expected timing of completion of the transaction, the anticipated improvement in credit ratings of Oncor, and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by any such forward-looking statements include risks and uncertainties relating to: the risk that Sempra Energy, Energy Future or Oncor may be unable to obtain bankruptcy court and governmental and regulatory approvals required for the merger, or that required bankruptcy court and governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties to abandon the transaction or be onerous to Sempra; the risk that a condition to closing of the merger may not be satisfied, including receipt of a satisfactory supplemental private ruling letter from the Internal Revenue Service; the expected timing to consummate the proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the diversion of management time and attention to merger-related issues. Additional 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 U.S. 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] SOURCE Sempra Energy
SoCalGas Begins a Pipeline Safety Project in San Luis Obispo County
LOS ANGELES, August 18, 2017—Southern California Gas Co. (SoCalGas) today announced that on Aug. 21 work will begin on an $8 million infrastructure upgrade project that will replace approximately 2,444 feet of a natural gas pipeline on Vine Street from Cuerno Lago Way to Ramada Drive, near the Firestone Brewery in the city of Paso Robles. The project will replace a 10-inch natural gas pipeline that serves thousands of homes, businesses as well as schools and large customers, including the National Guard’s Camp Roberts training base and the Paso Robles Golf Club. “Thousands of customers will benefit from this investment in our natural gas pipeline system,” said Rick Phillips, senior director of SoCalGas’ Pipeline Safety Enhancement Plan. “More than 90 percent of homes in this region use natural gas for heat and hot water and about 60 percent of all electricity generated in California is made by natural gas-fired power plants.” The project is part of SoCalGas’ Pipeline Safety Enhancement Plan, a multi-billion-dollar program that identifies various high pressure pipeline sections throughout SoCalGas’ system and schedules them to be pressure-tested and/or replaced. 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. Since the PSEP program began in 2013, SoCalGas has tested and/or replaced 172 miles of high pressure lines, and upgraded or replaced 122 valves. In addition to pipeline testing and replacement, PSEP also includes provisions to upgrade, replace or retrofit hundreds of mainline valves in the system with technology that allows them to be opened or closed remotely by system operators from a central control location, or that automatically shuts off the flow of natural gas in the event of a large drop in pressure. During this pipeline replacement project, SoCalGas will use an innovative system to capture methane from the pipeline being replaced. Instead of being released into the atmosphere, the gas from the pipeline will be captured and saved for later use. This unique process eliminates the noise and emissions that usually occur during the venting process. Since launching this system in 2016, PSEP has captured methane on seven different pipeline projects. As of mid-July, PSEP has captured a total of 859,681 cubic feet of methane – which is roughly the equivalent of what 4,454 homes use in a day, on average. Construction on Vine Street in Paso Robles is scheduled to begin on Aug. 21 and is expected to take approximately five months to complete, weather and other factors permitting. The excavation and pipeline installation work will be conducted in a series of sections, one-at-a-time. While each section is under construction, northbound and southbound traffic on Vine Street will be reduced to one lane in and around the construction zone. In addition, northbound travel on Ramada Drive near the parking lot of the Firestone Brewery will be reduced to one lane during the construction work. Lane reductions will be in effect during work hours only, Monday through Friday, from 7 a.m. to 4:30 p.m., and will be marked with traffic cones and signs. A pipeline replacement project is a significant construction operation. During the construction, a new pipeline segment is usually installed adjacent to an existing pipeline, which allows the construction work to proceed without stopping the flow of natural gas through the original pipeline. Customers are not anticipated to experience any service interruptions. Some residents and local business owners may occasionally smell the odorant in natural gas and may also hear some work-related noise. During work hours, commuters passing by the work site may see excavation, equipment and vehicles. Residents with questions may contact SoCalGas’ call center at 1-800-427-2200 . The call center is available 24 hours a day, seven days a week. 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. # # #
SoCalGas Declares Preferred Dividends
LOS ANGELES, Aug. 15, 2017 /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 October 15, 2017, to shareholders of record on September 10, 2017. 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. SOURCE SoCalGas
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

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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).