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Displaying results 196 - 210 of 1201
Sempra Announces Proposed Public Offering of Common Stock
SAN DIEGO, Nov. 7, 2023 /PRNewswire/ — Sempra (NYSE: SRE) (BMV: SRE) today announced that it is commencing a registered public offering of $1,000,000,000 of shares of its common stock in connection with the forward sale agreements described below, subject to market and other conditions. Sempra intends to grant the underwriters the option to purchase directly from Sempra up to an additional $150,000,000 of shares of its common stock, solely to cover over-allotments, if any. Morgan Stanley and Citigroup are acting as joint bookrunners of the offering and representatives of the underwriters. In connection with the offering, Sempra expects to enter into forward sale agreements with Morgan Stanley and Citigroup (or their respective affiliates) (in such capacity, the forward purchasers) with respect to $1,000,000,000 of shares of its common stock. In connection with the forward sale agreements, the forward purchasers or their respective affiliates (in such capacity, the forward sellers) are expected to borrow from third parties and sell to the underwriters for resale by such underwriters in the offering an aggregate of $1,000,000,000 of shares of Sempra’s common stock. If any forward seller does not deliver and sell all of the shares of Sempra’s common stock it is to deliver and sell to the underwriters, Sempra will issue and sell directly to the underwriters the number of shares of its common stock not delivered by the forward seller. Sempra will not receive any proceeds from the sale of common stock borrowed and sold in connection with the forward sale agreements. Instead, subject to its right to elect cash settlement or net share settlement under certain conditions, Sempra intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by Sempra occurring no later than December 31, 2024, an aggregate number of shares of its common stock equal to the number of shares borrowed and sold in the offering, in exchange for cash proceeds per share equal to the applicable forward sale price per share, which will initially be equal to the public offering price per share in the offering less the underwriting discount. The initial forward sale price is subject to subsequent adjustment from time to time as provided in the forward sale agreements. Sempra intends to use a substantial portion of any net proceeds from the offering, including the net proceeds it receives from the settlement of the forward sale agreements, for working capital and other general corporate purposes, including to partly finance its long-term capital plan and to repay commercial paper and potentially other indebtedness. The offering is being made pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). The offering is being made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained by contacting the representatives of the underwriters using the information provided below under "Underwriter Contact Information." An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, also is available on the SEC’s website, www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities, in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Such forward-looking statements include, among other things, statements related to Sempra’s expectations regarding the completion, timing and size of its proposed public offering; the grant to the underwriters of an option to purchase additional shares, solely to cover over-allotments, if any; the settlement of the forward sale agreements; and its use of any net proceeds from the offering. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service, and other governmental and regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, including risks in (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, and (iv) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; the impact on affordability of San Diego Gas & Electric Company’s (SDG&E) and Southern California Gas Company’s (SoCalGas) customer rates and their cost of capital and on SDG&E’s, SoCalGas’ and Sempra Infrastructure’s ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E’s and SoCalGas’ businesses, the cost of the clean energy transition in California, and (iii) with respect to Sempra Infrastructure’s business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC’s (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor’s independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the preliminary prospectus supplement and accompanying prospectus for the offering and in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC) that are incorporated by reference therein. These reports are available through the EDGAR system free-of-charge on the SEC’s website, sec.gov. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. Underwriter Contact Information: Morgan Stanley & Co. LLC 180 Varick Street, 2nd Floor New York, NY 10014 Attn: Prospectus Department Citigroup Global Markets Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Tel: 800-831-9146
Innovative Hybrid Direct Air Capture Technology Pilot Launches as Carbon Management Solutions Scale Up Across the U.S.
SoCalGas contributed approximately $650,000 to the $3.2 million project, which has received funding from the U.S. Department of Energy (DOE) to support innovative carbon removal technologies to help enable a carbon neutral future. LOS ANGELES, Nov. 6, 2023 /PRNewswire/ -- Southern California Gas Company (SoCalGas) announced today that after nearly two years of development, an innovative carbon removal technology called Hybrid Direct Air Capture (HDAC) is being brought online in Bakersfield, CA. This technology is being developed by Los Angeles based startup Avnos, Inc., with a pilot project to demonstrate how the technology removes carbon dioxide from the air and generates water using only electricity. SoCalGas is also partnering with Avnos, Inc. on a larger pilot project designed to demonstrate how this technology could be scaled up 1,000% from its current iteration. "The ability to scale carbon management projects while advancing the underlying technologies could be critical to achieving the state's ambitious goal of sequestering 100 million metric tons of CO 2 by 2045," says Neil Navin, Chief Clean Fuels Officer at SoCalGas. "Carbon management, if developed at scale, could help reduce carbon emissions, improve air quality, and represents a tremendous opportunity for economic development and the creation of high-quality jobs." The technology was conceived at Pacific Northwest National Laboratory (PNNL) and is a hybrid form of Direct Air Capture (DAC) technology designed to simultaneously capture CO2 and water from the air. The two-stage system removes water vapor and then captures CO2 from the dry air stream. It then compresses the CO2, allowing for transport, storage, or utilization, and condenses the water vapor into liquid water for reuse. "Avnos is proud to be at the forefront of this transformative journey, offering potentially scalable solutions that could play a vital role in addressing the pressing challenges of our time," said Will Kain, CEO of Avnos. "SoCalGas has been a tremendous partner and this collaborative milestone is a testament to our commitment to innovation and shared vision for a sustainable, carbon-neutral future. As we witness the utilization of HDAC, we believe it's a significant step towards achieving our ambitious goals for carbon management." Reports from the California Air Resource Board's 2022 Scoping Plan to the International Panel on Climate Change underscore that carbon management could be a critical pathway to decarbonization. The U.S. Department of Energy's (DOE) Carbon Management Pathways to Commercial Liftoff models project that reaching the country's clean energy transition goals would require capturing and storing 400 million to 1.8 billion tonnes of CO2 annually by 2050. Carbon management, along with other cleaner energy tools such as clean hydrogen and renewable natural gas, is a key component to the suite of tools SoCalGas has been developing in support of its overall strategy to reach net-zero greenhouse gas emissions by 2045. For more information about SoCalGas's carbon management efforts, visit http://www.socalgas.com/carboncapture About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations and other proceedings, and changes to laws and regulations, including those related to tax and trade policy; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
Sempra Reports Strong Third-Quarter 2023 Earnings Results
Updating 2023 GAAP EPS guidance range and expecting to be at or above the high-end of full-year 2023 adjusted EPS guidance range Expecting 10% to 20% increase above current five-year $40 billion capital plan SAN DIEGO, Nov. 3, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced third-quarter 2023 earnings of $721 million, or $1.14 per diluted share, compared to third-quarter 2022 earnings of $485 million, or $0.77 per diluted share. On an adjusted basis, the company's third-quarter 2023 earnings were $685 million or $1.08 per diluted share, compared to $622 million, or $0.98 per diluted share, in 2022. Further, Sempra is updating its full-year 2023 GAAP earnings per common share (EPS) guidance range to $4.44 to $4.74 and, as a result of the company's strong business performance and financial results in the first nine months of the year, expects to be at or above its full-year 2023 adjusted EPS guidance range of $4.30 to $4.60. "At Sempra, we are really excited about the growth we see in our company's future," said Jeffrey W. Martin, chairman and CEO of Sempra. "Our utilities are benefiting from serving growing markets with constructive regulation, while our Sempra Infrastructure business continues to expand across all three of its business lines, particularly in the export of U.S. liquefied natural gas." Sempra's earnings for the first nine months of 2023 were $2.293 billion, or $3.63 per diluted share, compared with earnings of $1.656 billion, or $2.62 per diluted share, in the first nine months of 2022. Adjusted earnings for the first nine months of 2023 were $2.201 billion, or $3.48 per diluted share, compared to $2.172 billion, or $3.43 per diluted share, in the first nine months of 2022. The reported financial results reflect certain significant items as described on an after-tax basis in the following table of earnings in conformity with generally accepted accounting principles in the United States of America (GAAP), reconciled to adjusted earnings, for the third quarter and first nine months of 2023 and 2022. (Dollars and shares in millions, except EPS) Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (Unaudited) GAAP Earnings $ 721 $ 485 $ 2,293 $ 1,656 Impact associated with Aliso Canyon litigation and regulatory matters — 101 — 199 Equity losses from write-off of rate base disallowances resulting from PUCT's final order in Oncor's comprehensive base rate review — — 44 — Impact from foreign currency and inflation on monetary positions in Mexico (36) (2) 166 89 Net unrealized losses (gains) on derivatives — 38 (319) 108 Net unrealized losses on contingent interest rate swap related to Port Arthur LNG Phase 1 project — — 17 — Deferred income tax expense associated with change in indefinite reinvestment assertion related to sale of noncontrolling interest to Abu Dhabi Investment Authority — — — 120 Adjusted Earnings (1) $ 685 $ 622 $ 2,201 $ 2,172 Diluted Weighted-Average Common Shares Outstanding 632 632 632 633 GAAP EPS $ 1.14 $ 0.77 $ 3.63 $ 2.62 Adjusted EPS (1) $ 1.08 $ 0.98 $ 3.48 $ 3.43 (1) See Table A for information regarding non-GAAP financial measures and descriptions of adjustments. Sempra intends to roll forward its five-year capital plan on its fourth-quarter earnings call and expects a potential increase above its current five-year $40 billion capital plan, driven by a portfolio of investment opportunities at its regulated utilities. Sempra Texas At Sempra Texas, Oncor Electric Delivery Company LLC (Oncor) continues to build out one of the largest pure-play transmission and distribution platforms in America to meet the state's growth in residential, commercial and industrial sectors. Premise growth in Oncor's service territory is estimated to be 2%, approximately double the national average. The Electric Reliability Council of Texas set 10 peak demand records this summer and the Oncor team safely maintained grid reliability while investing in the expansion and modernization of its growing energy networks. During the quarter, Oncor connected approximately 20,000 new premises, bringing its year-to-date new premise count to approximately 57,000. Across its territory, Oncor built, rebuilt or upgraded approximately 600 miles of distribution lines and 40 miles of transmission lines. Additionally, three load-serving substations were placed into service. Oncor remains on pace to set a company record for annual new and active generation and retail transmission point-of-interconnection (POI) requests in the queue with 755 active POI requests at the end of the quarter, representing a 34% increase over the same period in 2022. As of Sept. 30, 2023, Oncor had 447 active generation requests, of which approximately 47% were solar, 41% were storage, 9% were wind and 3% were gas. Texas remains a highly constructive regulatory environment with, among other important recent utility legislation, Texas House Bill 2555 creating a path to enhance grid resiliency and recover costs related to resiliency measures through rates. In addition, Texas Senate Bill 1015 is expected to reduce regulatory lag with respect to recovery of distribution investments through interim distribution cost recovery factor rate adjustments. Sempra California San Diego Gas & Electric Co. (SDGE) and Southern California Gas Co. (SoCalGas) are advancing California's resiliency and climate goals through the expansion and modernization of energy networks. In October, under the California Public Utilities Commission's (CPUC) cost of capital mechanism, these companies filed to adjust their respective return on equity and cost of debt rates beginning in 2024 to account for interest rate changes. The CPUC continues to advance the 2024 general rate cases of SDGE and SoCalGas, which focus on delivering cleaner energy, safely and reliably, in alignment with California's sustainability goals. The proposed decision is expected to be issued in the second quarter of 2024 with rates to be retroactively effective to Jan. 1, 2024. SDGE requested CPUC approval for 160 megawatts of utility-owned energy storage to support reliability and submitted bid materials to the California Independent System Operator for projects identified in its 2022-2023 Transmission Plan Federal Energy Regulatory Commission (FERC) 1000 solicitation process. SoCalGas is working to modernize California's energy networks through investments in next-generation technologies such as clean hydrogen, renewable natural gas and fuel cells. Federal, state and local governments are increasingly recognizing hydrogen's potentially important role in accelerating energy and climate goals. In October, the U.S. Department of Energy (DOE) selected California's Alliance for Renewable Clean Hydrogen Energy Systems, of which SoCalGas is a partner, for up to $1.2 billion in funding to develop a regional clean hydrogen hub in California. In August, the state announced the launch of California's Hydrogen Market Development Strategy, which aims to employ an all-of-government approach to building California's renewable hydrogen market. Sempra Infrastructure Sempra Infrastructure is focused on delivering energy for a better world through its high-growth, low-carbon platform. The company's clean power, energy networks and liquefied natural gas (LNG) and net-zero businesses are strategically positioned to support the dual priorities of decarbonization and energy security for the U.S., Mexico and their allies. The Port Arthur energy hub reached several milestones this past quarter. In September, the Port Arthur LNG Phase 2 expansion project under development in Jefferson County, Texas received FERC approval. With Phase 1 currently under construction, the development of the proposed Phase 2 project could increase the total liquefaction capacity of the facility from approximately 13 million tonnes per annum (Mtpa) to up to 26 Mtpa. This news followed the successful completion of the sale of a 42% indirect, non-controlling interest in the Port Arthur LNG Phase 1 project to KKR. Increasing global interest in lower emissions fuels and the status of the U.S. as a strong energy partner are creating further opportunities for Sempra Infrastructure. In August, Sempra Infrastructure announced a non-binding agreement with Mitsubishi Corporation and a consortium comprised of Tokyo Gas Company, Ltd., Osaka Gas Company, Ltd., and Toho Gas Company, Ltd. to participate in the evaluation of a proposed project to produce e-natural gas, a form of carbon recycling, in the U.S. Gulf Coast. If the project is successful, it would be one of the first links of an international supply chain of liquefied e-natural gas, a carbon neutral synthetic gas produced from renewable hydrogen and recycled carbon dioxide. Additionally, the DOE selected HyVelocity Gulf Coast Hydrogen Hub, of which Sempra Infrastructure is a partner, for up to $1.2 billion in funding to help advance a network of hydrogen producers, consumers and connective infrastructure while supporting the production, storage, delivery and end-use of hydrogen. Earnings Guidance Sempra is updating its full-year 2023 GAAP EPS guidance range to $4.44 to $4.74. As a result of the company's strong execution and financial results in the first nine months of the year, Sempra expects to be at or above the high-end of its full-year 2023 adjusted EPS guidance range of $4.30 to $4.60. Sempra also is affirming its full-year 2024 EPS guidance range of $4.55 to $4.90 and affirming its projected long-term EPS growth rate of 6% to 8%. All share and per share information in this release, including the guidance ranges, reflects the two-for-one split of Sempra's common stock in the form of a 100% stock dividend that was distributed to shareholders on Aug. 21, 2023. Non-GAAP Financial Measures Non-GAAP financial measures include Sempra's adjusted earnings, adjusted EPS, and adjusted EPS guidance range. See Table A for additional information regarding these non-GAAP financial measures. Internet Broadcast Sempra will broadcast a live discussion of its earnings results over the internet today at 12 p.m. ET with the company's senior management. Access is available by logging onto the company's website, sempra.com. The webcast will be available on replay a few hours after its conclusion on sempra.com. About Sempra Sempra is a leading North American energy infrastructure company that helps meet the daily energy needs of nearly 40 million consumers. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. The company is also consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performance culture focused on safety and operational excellence, leadership and workforce development and diversity and inclusion. In 2022, Investor's Business Daily named Sempra the top-ranked utility in the U.S. for environmental, social and governance scores and financial performance. Sempra was also included on the Dow Jones Sustainability North America Index for the 12th consecutive year. More information about Sempra is available at sempra.com and on social media @Sempra. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, rates from customers or a combination thereof; decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by the (i) California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, U.S. Internal Revenue Service and other governmental and regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions, including risks in (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, and (iv) obtaining third-party consents and approvals; macroeconomic trends or other factors that could change our capital expenditure plans and their potential impact on rate base or other growth; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to tax and trade policy and the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which continue to become more pronounced; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, or (iii) rising interest rates and inflation; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; the impact on affordability of San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) customer rates and their cost of capital and on SDG&E's, SoCalGas' and Sempra Infrastructure's ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices, (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of the clean energy transition in California, and (iii) with respect to Sempra Infrastructure's business, volatility in foreign currency exchange rates; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, pipeline system or limitations on the withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, sec.gov, and on Sempra's website, sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document. SEMPRA Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (unaudited) REVENUES Utilities: Natural gas $ 1,488 $ 1,587 $ 7,560 $ 5,611 Electric 1,250 1,357 3,331 3,663 Energy-related businesses 596 673 2,338 1,710 Total revenues 3,334 3,617 13,229 10,984 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (260) (505) (3,254) (1,835) Cost of electric fuel and purchased power (183) (307) (385) (763) Energy-related businesses cost of sales (163) (340) (437) (764) Operation and maintenance (1,383) (1,206) (3,958) (3,454) Aliso Canyon litigation and regulatory matters — (122) — (259) Depreciation and amortization (563) (506) (1,651) (1,500) Franchise fees and other taxes (169) (162) (509) (474) Other income (expense), net 3 (40) 75 (3) Interest income 19 18 60 58 Interest expense (312) (282) (995) (796) Income before income taxes and equity earnings 323 165 2,175 1,194 Income tax benefit (expense) 52 (21) (499) (435) Equity earnings 479 417 1,086 1,118 Net income 854 561 2,762 1,877 Earnings attributable to noncontrolling interests (122) (65) (435) (187) Preferred dividends (11) (11) (33) (33) Preferred dividends of subsidiary — — (1) (1) Earnings attributable to common shares $ 721 $ 485 $ 2,293 $ 1,656 Basic earnings per common share (EPS): Earnings $ 1.14 $ 0.77 $ 3.64 $ 2.63 Weighted-average common shares outstanding 630,036 629,447 629,963 630,603 Diluted EPS: Earnings $ 1.14 $ 0.77 $ 3.63 $ 2.62 Weighted-average common shares outstanding 632,324 632,175 632,231 632,914 SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA ADJUSTED EARNINGS TO SEMPRA GAAP EARNINGS (Unaudited) Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2023 and 2022 as follows: Three months ended September 30, 2023: $36 million impact from foreign currency and inflation on our monetary positions in Mexico Three months ended September 30, 2022: $(101) million impact associated with Aliso Canyon natural gas storage facility litigation and regulatory matters at Southern California Gas Company (SoCalGas) $2 million impact from foreign currency and inflation on our monetary positions in Mexico $(38) million net unrealized losses on commodity derivatives Nine months ended September 30, 2023: $(44) million equity losses from investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings) related to a write-off of rate base disallowances resulting from the Public Utility Commission of Texas' (PUCT) final order in Oncor Electric Delivery Company LLC's (Oncor) comprehensive base rate review $(166) million impact from foreign currency and inflation on our monetary positions in Mexico $319 million net unrealized gains on commodity derivatives $(17) million net unrealized losses on a contingent interest rate swap related to the initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) Nine months ended September 30, 2022: $(199) million impact associated with Aliso Canyon natural gas storage facility litigation and regulatory matters at SoCalGas $(89) million impact from foreign currency and inflation on our monetary positions in Mexico $(108) million net unrealized losses on commodity derivatives $(120) million deferred income tax expense associated with the change in our indefinite reinvestment assertion as a result of progress in obtaining regulatory approvals necessary to close the sale of 10% NCI in Sempra Infrastructure Partners, LP (SI Partners) to Abu Dhabi Investment Authority (ADIA) Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles for historical periods these non-GAAP financial measures to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP. RECONCILIATION OF ADJUSTED EARNINGS TO GAAP EARNINGS (Dollars in millions, except EPS; shares in thousands) Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings Three months ended September 30, 2023 Three months ended September 30, 2022 (unaudited) Sempra GAAP Earnings $ 721 $ 485 Excluded items: Impact associated with Aliso Canyon litigation and regulatory matters $ — $ — $ — — $ 122 $ (21) $ — 101 Impact from foreign currency and inflation on our monetary positions in Mexico (3) (49) 16 (36) 1 (4) 1 (2) Net unrealized (gains) losses on commodity derivatives (2) 2 — — 77 (17) (22) 38 Sempra Adjusted Earnings $ 685 $ 622 Diluted EPS: Weighted-average common shares outstanding, diluted 632,324 632,175 Sempra GAAP EPS $ 1.14 $ 0.77 Sempra Adjusted EPS $ 1.08 $ 0.98 Nine months ended September 30, 2023 Nine months ended September 30, 2022 (unaudited) Sempra GAAP Earnings $ 2,293 $ 1,656 Excluded items: Impact associated with Aliso Canyon litigation and regulatory matters $ — $ — $ — — $ 259 $ (60) $ — 199 Equity losses from a write-off of rate base disallowances resulting from the PUCT's final order in Oncor's comprehensive base rate review — — — 44 — — — — Impact from foreign currency and inflation on our monetary positions in Mexico 40 203 (77) 166 30 80 (21) 89 Net unrealized (gains) losses on commodity derivatives (630) 128 183 (319) 183 (42) (33) 108 Net unrealized losses on a contingent interest rate swap related to the PA LNG Phase 1 project 33 (6) (10) 17 — — — — Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA — — — — — 120 — 120 Sempra Adjusted Earnings $ 2,201 $ 2,172 Diluted EPS: Weighted-average common shares outstanding, diluted 632,231 632,914 Sempra GAAP EPS $ 3.63 $ 2.62 Sempra Adjusted EPS $ 3.48 $ 3.43 (1) Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We record equity losses for our investment in Oncor Holdings net of income tax. SEMPRA Table A (Continued) RECONCILIATION OF SEMPRA 2023 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2023 GAAP EPS GUIDANCE RANGE (Unaudited) Sempra 2023 Adjusted EPS Guidance Range of $4.30 to $4.60 excludes items (after the effects of income taxes and, if applicable, NCI) as follows: $(44) million equity losses from investment in Oncor Holdings related to a write-off of rate base disallowances resulting from the PUCT's final order in Oncor's comprehensive base rate review $(166) million impact from foreign currency and inflation on our monetary positions in Mexico $319 million net unrealized gains on commodity derivatives $(17) million net unrealized losses on a contingent interest rate swap related to the PA LNG Phase 1 project Sempra 2023 Adjusted EPS Guidance is a non-GAAP financial measure. This non-GAAP financial measure excludes significant items that are generally not related to our ongoing business activities and/or infrequent in nature. This non-GAAP financial measure also excludes the impact from foreign currency and inflation on our monetary positions in Mexico and net unrealized gains and losses on commodity derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Sempra 2023 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2023 GAAP EPS Guidance Range. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP. The table below reconciles Sempra 2023 Adjusted EPS Guidance Range to Sempra 2023 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. RECONCILIATION OF ADJUSTED EPS GUIDANCE RANGE TO GAAP EPS GUIDANCE RANGE Full-Year 2023 Sempra GAAP EPS Guidance Range $ 4.44 to $ 4.74 Excluded items: Equity losses from a write-off of rate base disallowances resulting from the PUCT's final order in Oncor's comprehensive base rate review 0.07 0.07 Impact from foreign currency and inflation on our monetary positions in Mexico 0.26 0.26 Net unrealized gains on commodity derivatives (0.50) (0.50) Net unrealized losses on a contingent interest rate swap related to the PA LNG Phase 1 project 0.03 0.03 Sempra Adjusted EPS Guidance Range $ 4.30 to $ 4.60 Weighted-average common shares outstanding, diluted (millions) 632 SEMPRA Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) September 30, 2023 December 31, 2022 (1) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,149 $ 370 Restricted cash 238 40 Accounts receivable – trade, net 1,939 2,635 Accounts receivable – other, net 498 685 Due from unconsolidated affiliates 42 54 Income taxes receivable 72 113 Inventories 451 403 Prepaid expenses 325 268 Regulatory assets 190 351 Fixed-price contracts and other derivatives 201 803 Greenhouse gas allowances 144 141 Other current assets 61 49 Total current assets 5,310 5,912 Other assets: Restricted cash 104 52 Regulatory assets 3,277 2,588 Greenhouse gas allowances 1,219 796 Nuclear decommissioning trusts 827 841 Dedicated assets in support of certain benefit plans 513 505 Deferred income taxes 155 135 Right-of-use assets – operating leases 721 655 Investment in Oncor Holdings 14,148 13,665 Other investments 2,208 2,012 Goodwill 1,602 1,602 Other intangible assets 324 344 Wildfire fund 281 303 Other long-term assets 1,874 1,382 Total other assets 27,253 24,880 Property, plant and equipment, net 53,172 47,782 Total assets $ 85,735 $ 78,574 (1) Derived from audited financial statements. SEMPRA Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Dollars in millions) September 30, 2023 December 31, 2022 (1) (unaudited) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 1,977 $ 3,352 Accounts payable – trade 2,234 1,994 Accounts payable – other 219 275 Due to unconsolidated affiliates 5 — Dividends and interest payable 734 621 Accrued compensation and benefits 496 484 Regulatory liabilities 529 504 Current portion of long-term debt and finance leases 974 1,019 Reserve for Aliso Canyon costs 126 129 Greenhouse gas obligations 144 141 Other current liabilities 1,327 1,380 Total current liabilities 8,765 9,899 Long-term debt and finance leases 27,703 24,548 Deferred credits and other liabilities: Due to unconsolidated affiliates 303 301 Regulatory liabilities 3,468 3,341 Greenhouse gas obligations 942 565 Pension and other postretirement benefit plan obligations, net of plan assets 309 410 Deferred income taxes 5,095 4,591 Asset retirement obligations 3,584 3,546 Deferred credits and other 2,308 2,117 Total deferred credits and other liabilities 16,009 14,871 Equity: Sempra shareholders' equity 28,238 27,115 Preferred stock of subsidiary 20 20 Other noncontrolling interests 5,000 2,121 Total equity 33,258 29,256 Total liabilities and equity $ 85,735 $ 78,574 (1) Derived from audited financial statements. SEMPRA Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Nine months ended September 30, 2023 2022 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 2,762 $ 1,877 Adjustments to reconcile net income to net cash provided by operating activities 646 1,193 Reserve for Aliso Canyon costs (3) (1,835) Net change in other working capital components 1,613 (267) Insurance receivable for Aliso Canyon costs — 350 Distributions from investments 668 643 Changes in other noncurrent assets and liabilities, net (557) (506) Net cash provided by operating activities 5,129 1,455 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (6,074) (3,540) Expenditures for investments (281) (275) Purchases of nuclear decommissioning and other trust assets (462) (530) Proceeds from sales of nuclear decommissioning and other trust assets 503 530 Repayments of advances to unconsolidated affiliates — 626 Other 10 6 Net cash used in investing activities (6,304) (3,183) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (1,109) (1,070) Preferred dividends paid (22) (22) Issuances of common stock — 4 Repurchases of common stock (32) (478) Issuances of debt (maturities greater than 90 days) 6,911 6,711 Payments on debt (maturities greater than 90 days) and finance leases (6,018) (3,365) Increase (decrease) in short-term debt, net 629 (1,438) Advances from unconsolidated affiliates 31 28 Proceeds from sales of noncontrolling interests 1,238 1,732 Distributions to noncontrolling interests (289) (146) Contributions from noncontrolling interests 1,036 15 Settlement of cross-currency swaps (99) — Other (78) (35) Net cash provided by financing activities 2,198 1,936 Effect of exchange rate changes on cash, cash equivalents and restricted cash 6 (3) Increase in cash, cash equivalents and restricted cash 1,029 205 Cash, cash equivalents and restricted cash, January 1 462 581 Cash, cash equivalents and restricted cash, September 30 $ 1,491 $ 786 SEMPRA Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES AND INVESTMENTS (Dollars in millions) Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (unaudited) Earnings (Losses) Attributable to Common Shares SDG&E $ 274 $ 271 $ 716 $ 681 SoCalGas 16 (82) 531 339 Sempra Texas Utilities 305 256 548 604 Sempra Infrastructure 223 114 746 392 Parent and other (97) (74) (248) (360) Total $ 721 $ 485 $ 2,293 $ 1,656 Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (unaudited) Capital Expenditures and Investments SDG&E $ 654 $ 561 $ 1,893 $ 1,651 SoCalGas 490 463 1,451 1,394 Sempra Texas Utilities 92 85 270 256 Sempra Infrastructure 652 162 2,736 508 Parent and other 1 2 5 6 Total $ 1,889 $ 1,273 $ 6,355 $ 3,815 SEMPRA Table E OTHER OPERATING STATISTICS Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (unaudited) UTILITIES SDG&E and SoCalGas Gas sales (Bcf) (1) 55 53 280 240 Transportation (Bcf) (1) 165 180 438 462 Total deliveries (Bcf) (1) 220 233 718 702 Total gas customer meters (thousands) 7,047 7,031 SDG&E Electric sales (millions of kWhs) (1) 1,075 2,121 3,645 6,085 Community Choice Aggregation and Direct Access (millions of kWhs) (2) 3,472 3,106 9,001 7,135 Total deliveries (millions of kWhs) (1) 4,547 5,227 12,646 13,220 Total electric customer meters (thousands) 1,515 1,502 Oncor (3) Total deliveries (millions of kWhs) 47,736 44,040 120,571 115,580 Total electric customer meters (thousands) 3,953 3,881 Ecogas Natural gas sales (Bcf) 1 1 3 3 Natural gas customer meters (thousands) 155 147 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (millions of kWhs) 1,105 1,019 2,022 2,268 Wind and solar (millions of kWhs) (1) 827 688 2,525 2,347 (1) Includes intercompany sales. (2) Several jurisdictions in SDG&E's territory have implemented Community Choice Aggregation, including the City of San Diego in 2022. Additional jurisdictions are in the process of implementing or considering Community Choice Aggregation. (3) Includes 100% of the electric deliveries and customer meters of Oncor, in which we hold an indirect 80.25% interest through our investment in Oncor Holdings. SEMPRA Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Three months ended September 30, 2023 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments , Parent & Other Total Revenues $ 1,442 $ 1,313 $ — $ 629 $ (50) $ 3,334 Cost of sales and other expenses (809) (1,021) (2) (356) 30 (2,158) Depreciation and amortization (280) (211) — (71) (1) (563) Other income (expense), net 25 (2) — (2) (18) 3 Income (loss) before interest and tax (1) 378 79 (2) 200 (39) 616 Net interest expense (119) (68) — (3) (103) (293) Income tax benefit (expense) 15 5 — (24) 56 52 Equity earnings — — 307 172 — 479 Earnings attributable to noncontrolling interests — — — (122) — (122) Preferred dividends — — — — (11) (11) Earnings (losses) attributable to common shares $ 274 $ 16 $ 305 $ 223 $ (97) $ 721 Three months ended September 30, 2022 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 1,569 $ 1,385 $ — $ 697 $ (34) $ 3,617 Cost of sales and other expenses (917) (1,093) (1) (525) 16 (2,520) Aliso Canyon litigation and regulatory matters — (122) — — — (122) Depreciation and amortization (247) (190) — (67) (2) (506) Other income (expense), net 12 (43) — 5 (14) (40) Income (loss) before interest and tax (1) 417 (63) (1) 110 (34) 429 Net interest expense (111) (47) — (32) (74) (264) Income tax (expense) benefit (35) 28 (1) (58) 45 (21) Equity earnings — — 258 159 — 417 Earnings attributable to noncontrolling interests — — — (65) — (65) Preferred dividends — — — — (11) (11) Earnings (losses) attributable to common shares $ 271 $ (82) $ 256 $ 114 $ (74) $ 485 (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. SEMPRA Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Nine months ended September 30, 2023 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 4,357 $ 6,574 $ — $ 2,485 $ (187) $ 13,229 Cost of sales and other expenses (2,555) (5,137) (5) (981) 135 (8,543) Depreciation and amortization (810) (625) — (210) (6) (1,651) Other income (expense), net 75 (9) — 11 (2) 75 Income (loss) before interest and tax (1) 1,067 803 (5) 1,305 (60) 3,110 Net interest expense (355) (203) — (102) (275) (935) Income tax benefit (expense) 4 (68) — (555) 120 (499) Equity earnings — — 553 533 — 1,086 Earnings attributable to noncontrolling interests — — — (435) — (435) Preferred dividends — (1) — — (33) (34) Earnings (losses) attributable to common shares $ 716 $ 531 $ 548 $ 746 $ (248) $ 2,293 Nine months ended September 30, 2022 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 4,413 $ 4,879 $ — $ 1,810 $ (118) $ 10,984 Cost of sales and other expenses (2,599) (3,504) (4) (1,257) 74 (7,290) Aliso Canyon litigation and regulatory matters — (259) — — — (259) Depreciation and amortization (730) (565) — (199) (6) (1,500) Other income (expense), net 68 (5) — (4) (62) (3) Income (loss) before interest and tax (1) 1,152 546 (4) 350 (112) 1,932 Net interest expense (330) (131) — (61) (216) (738) Income tax (expense) benefit (141) (75) (1) (219) 1 (435) Equity earnings — — 609 509 — 1,118 Earnings attributable to noncontrolling interests — — — (187) — (187) Preferred dividends — (1) — — (33) (34) Earnings (losses) attributable to common shares $ 681 $ 339 $ 604 $ 392 $ (360) $ 1,656 (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. SOURCE Sempra
Sempra employees and Sempra Foundation give back to veterans
U.S. Army veterans receive support from energy infrastructure employer, Sempra, and their employees with over $200K in donations, including support for the Warriors to Work program
Sempra Foundation grants focused on improving quality of life, resilience
Energy transition company, Sempra, supports the arts, education, diverse employees, children, and anti-poverty efforts with Sempra Foundation
Restaurants Encouraged to Apply for $5,000 Grant through California Restaurant Foundation's Resilience Fund, Made Possible by SoCalGas
88 Restaurants across SoCalGas' Service Area will receive grants to support technology adoption, equipment upgrades, employee onboarding and retention, or unforeseen hardships LOS ANGELES, Oct. 26, 2023 /PRNewswire/ -- Beginning today, independent restaurants can apply for a $5,000 grant from the California Restaurant Foundation's (CRF) Restaurants Care® Resilience Fund. Earlier this year, Southern California Gas Co. (SoCalGas) donated $1 million to the Resilience Fund, bringing it to $2.1 million—the largest fund to date since the program's inception in 2021. Grants will be awarded to 182 California restaurants, including 88 in SoCalGas' service area, and funds may be used for technology adoption, equipment upgrades, employee onboarding and retention, or unforeseen hardships. "For the third consecutive year, SoCalGas is supporting the California Restaurant Foundation's Restaurants Care Resilience Fund to provide grants to independent restaurants. These restaurants play a vital role in our local communities, and the foundation's grants bolster and maintain the livelihoods of local restaurant proprietors, their staff, and their establishments," said David Barrett, SoCalGas senior vice president, general counsel, and California Restaurant Foundation board member. This is the second round of grants in 2023, made possible through donations from SoCalGas, the PG&E Corporation Foundation (PG&E Foundation), and San Diego Gas and Electric (SDG&E). The first round of 2023 Restaurants Care® Resilience Fund grants were distributed in June and restaurants that submitted applications in the spring but who were not funded do not need to reapply to be considered for this round of grants. Resilience Fund applications are open October 25 through November 8, 2023. Eligibility is open to California restaurants located in the utility companies' service areas, must be open for at least one year, have up to five units, have annual revenue of up to $3 million, with special consideration for those owned by women or people of color. Applications can be found at www.restaurantscare.org/resilience. "SoCalGas has provided invaluable and unwavering support for the Restaurants Care Resilience Fund since its inception in 2021, which has led to hundreds of independent restaurant owners across Southern California fortifying their businesses for the long haul," said Alycia Harshfield, Executive Director of California Restaurant Foundation. "We are thrilled to open applications for the second time this year and again offer $5,000 grants to owners looking to enhance their restaurants via technology adoption, equipment upgrades, employee onboarding and retention, or overcoming unforeseen hardships." Since its inception, the Resilience Fund has awarded over 1,100 grants to independently owned restaurants across California. Among them, 68% were women-owned, and 83% were owned by people of color. "With the grant we received this summer from SoCalGas, will were able to purchase a standing fryer, refrigerator, and sandwich bar. We've been able to make food more efficiently, keep our ingredients fresher, and have provided our customers a better dining experience," said Stacy Davis from Stacy's Kitchen in Blythe, California. In addition to providing financial support to restaurants through the foundation, SoCalGas offers programs and services to help business customers select energy-efficient equipment. Restaurant owners can schedule a 'Try Before You Buy' demo with natural gas cooking equipment before purchasing, request a no-cost energy survey to be conducted by a utility expert, and obtain information on rebates and incentives for eligible energy efficient natural gas cooking equipment, water heating, heat recovery products, and energy-efficient upgrade installation. SoCalGas' support of the California Restaurant Fund is part of the company's ASPIRE 2045 sustainability goals, which include a plan to invest $50 million to drive positive change in diverse and underserved communities across five years. About SoCalGasHeadquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas is committed to the goal of achieving net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (@SoCalGas), Instagram (@SoCalGas) and Facebook. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include risks and uncertainties relating to: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, and other governmental and regulatory bodies and (ii) the U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent or approval of third parties; litigation, arbitrations and other proceedings, and changes to laws and regulations; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which have become more pronounced due to recent geopolitical events; our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook or (ii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, any of which may increase our costs, reduce our competitiveness, impact our ability to do business with certain counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website,  www.sec.gov, and on Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. About the California Restaurant Foundation (CRF): California is home to more than 90,000 eating and drinking places that ring up more than $72 billion in sales and employ more than 1.6 million workers, making restaurants an indisputable driving force in the state's economy. The California Restaurant Foundation is a non-profit that empowers and invests in California's restaurant workforce. Founded in 1981, CRF supports the restaurant community through relief grants for restaurant workers facing a hardship, job and life skills training for 13,500 high school students each year, and scholarships. For more information visit www.calrestfoundation.org. MEDIA CONTACT Denise CamposOffice of Media and Public Information(213) 244-2442 dcampos@socalgas.com SOURCE Southern California Gas Company
SoCalGas Joins Center for Transportation and the Environment to Reduce Emissions with Innovative Hydrogen Fuel Cell Electric Delivery Vans
Retrofitted hydrogen fuel cell electric vans project could help reduce greenhouse gas emissions ONTARIO, Calif., Oct. 19, 2023 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) and the Center for Transportation and the Environment (CTE) have deployed the first of a planned 15 hydrogen fuel cell electric vehicle (FCEV) medium-duty delivery vans, as part of their collaborative effort to replace diesel-powered vehicles and reduce greenhouse gas emissions. SoCalGas' support and funding of the project are aimed to help propel ongoing advancements toward the commercialization of zero-emission, medium-duty vehicles and potentially assist companies in decarbonizing their fleets. A leading courier service is driving these hydrogen FCEV vans to facilitate package deliveries in underserved communities within the Inland Empire. The project team successfully retrofitted and converted diesel delivery vans to a hybrid electric drive, incorporating on-board hydrogen storage and a fuel cell range extender. Frequent stops made during deliveries allow the onboard hydrogen system to recharge the battery, extending the vehicle range and allowing the courier service to meet their route range requirements. The pilot project aims to demonstrate the potential of hydrogen FCEV vans for delivery operations. It is being developed in partnership with Accelera by Cummins, Unique Electric Solutions (UES), and the University of Texas - Center for Electromechanics (CEM) and is backed by U.S. Department of Energy's Hydrogen and Fuel Cell Technologies Office (HFTO) , South Coast Air Quality Management District (South Coast AQMD), California Energy Commission (CEC), and California Air Resources Board (CARB). This project was supported by the "California Climate Investments" (CCI) program. "This project is a successful private, public partnership that showcases green technology and environmental stewardship," said Wayne Nastri, South Coast AQMD Executive Officer. "With every package delivered using these emission free vans, we are closer to reducing air pollution in our communities." "Collaborative efforts among companies and organizations are essential to help achieve California's climate goals and this innovative project exemplifies such cooperation," said Neil Navin, Chief Clean Fuels Officer at SoCalGas. "The integration of hydrogen storage, fuel cell technology, battery packs, and power electronics is designed to ensure sufficient vehicle power, maintain cargo capacity and weight limitations, all while upholding a zero-emission standard." "We couldn't be more excited to see years of hard work and development come to fruition by putting these clean trucks into service. This achievement wouldn't have been possible without the support of our sponsors and dedication of our partners. Through this type of technology demonstration and advancement we believe we will continue to drive the industry towards clean transportation solutions," said Jason Hanlin, CTE's Director of Technology Development. The delivery vans benefit from easy access to a public hydrogen fueling station in Ontario, which serves as a refueling point for the retrofitted vans. These vans serve a high concentration of disadvantaged communities, and their conversion to the use of hydrogen FCEVs could help mitigate localized pollution concerns associated with package delivery. The project team will continue to monitor the results of emissions reductions during this pilot project, providing valuable insight for similar initiatives. CTE's broader efforts have assisted nearly 100 transit agencies that have either deployed or will deploy more than 700 zero-emission buses and has managed or participated in almost 40 major projects across the country, helping agencies prepare strategic plans to shift their full fleet of vehicles to zero-emission. While CTE's work has helped accelerate the shift toward zero-emissions transportations, SoCalGas is also helping to lead the charge. The company's focus on sustainability was notably recognized last year when it received the Leading Private Fleet Award at the Advanced Clean Transportation Expo. This honor acknowledges SoCalGas' efforts towards executing its ASPIRE 2045 sustainability strategy, which includes working to replace 50% of its over-the-road fleet with clean fuel vehicles by 2025 and operate a zero-emission fleet by 2035. Currently, a third of SoCalGas' fleet operates on clean fuels. Integral to the utility's sustainability strategy, SoCalGas continues to foster collaborations with other companies within its Research, Development, and Demonstration (RD&D) portfolio designed to forge new pathways for decarbonization and spur innovation towards achieving net-zero emissions. Learn more about SoCalGas' RD&D portfolio here. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About CTE The Center for Transportation and the Environment is a 501(c)(3) nonprofit organization with a mission to improve the health of our climate and communities by bringing people together to develop and commercialize clean, efficient, and sustainable transportation technologies. CTE collaborates with federal, state, and local governments, fleets, and vehicle technology manufacturers to complete our mission. Learn more at www.cte.tv. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include risks and uncertainties relating to: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, and other governmental and regulatory bodies and (ii) the U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent or approval of third parties; litigation, arbitrations and other proceedings, and changes to laws and regulations; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which have become more pronounced due to recent geopolitical events; our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook or (ii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, any of which may increase our costs, reduce our competitiveness, impact our ability to do business with certain counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website,  www.sec.gov, and on Sempra's website,  www.sempra.com. Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
Sempra CSO: Decarbonization, resilience and affordability are the future of energy
Decarbonizing economies with modernized energy transmission & distribution infrastructure was discussed in an interview with Sempra CSO and ESG Advisory at NYSE
Sempra to Report Third-Quarter 2023 Earnings November 3
SAN DIEGO, Oct. 17, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) plans to release its third-quarter 2023 earnings by 7 a.m. ET on Friday, November 3. Sempra executives will conduct a conference call at 12 p.m. ET, Friday, November 3. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on the Investors section of the company's website and clicking on the appropriate link. An accompanying slide presentation detailing the earnings results will be published to Sempra's Investors site by 7 a.m. ET on Friday, November 3. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion. About Sempra Sempra is a leading North American energy infrastructure company that helps meet the daily energy needs of nearly 40 million consumers. As the owner of one of the largest energy networks on the continent, Sempra is helping to electrify and decarbonize some of the world's most significant economic markets, including California, Texas, Mexico and the LNG export market. The company is also consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performance culture focused on safety and operational excellence, leadership and workforce development and diversity and inclusion. Investor's Business Daily named Sempra the top-ranked utility in the U.S. for environmental, social and governance scores and financial performance. Sempra was also included on the Dow Jones Sustainability North America Index for the 12th consecutive year. More information about Sempra is available at sempra.com and on social media @Sempra. SOURCE Sempra
How can hydrogen help decarbonize economies?
Sempra energy networks positioned to develop clean hydrogen economy in California and Texas, as hubs proposed by the US DOE for $7B investment.
U.S. Department of Energy Makes Historic Award for a Regional Clean Hydrogen Hub in California
LOS ANGELES, Oct. 13, 2023 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today issued the following statement in support of the U.S. Department of Energy's decision to award California up to $1.2 billion for a regional clean hydrogen hub [1]. SoCalGas is a proud partner of the Alliance for Renewable Clean Hydrogen Energy Systems (ARCHES), the statewide public-private partnership and the organizer for California's Department of Energy clean hydrogen hub application: "The Department of Energy's visionary investment in a California hydrogen hub is a watershed moment for a clean hydrogen economy," said SoCalGas President Maryam Brown. "The DOE's investment demonstrates the essential role that clean hydrogen will play in accelerating California's energy goals, growing California's clean energy workforce, and improving our environment, air quality, and the lives of millions of Californians. "Working with ARCHES and state policymakers in support of California's clean energy and climate goals is a central focus of SoCalGas. Our company's mission is to build the cleanest, safest, and most innovative energy infrastructure company in America, and SoCalGas' Angeles Link project could deliver clean renewable hydrogen in an amount equivalent to almost 25% of the natural gas SoCalGas delivers today. This could displace a billion gallons of diesel fuel burned annually, allow conversion of natural gas plants, and eliminate nitrous oxide (NO X) and carbon dioxide (CO 2) in an amount equivalent to taking 3.1 million cars off the road annually." Background on Angeles Link Angeles Link would be, as envisioned, the nation's largest clean renewable hydrogen energy pipeline system. Angeles Link could support the addition and integration of more renewable electricity resources like solar and wind to the grid and would significantly reduce greenhouse gas emissions from electric generation, industrial processes, heavy-duty trucks, and other hard-to-electrify sectors of the Southern and Central California economy. Over time and combined with other clean energy projects, Angeles Link could also help reduce natural gas demand served by the Aliso Canyon natural gas storage facility, facilitating its ultimate retirement. Angeles Link could also help advance California's and the region's climate and clean air goals while continuing reliable and affordable energy services. Hydrogen is increasingly recognized as a critical element of successful decarbonization. When coupled with renewable energy, clean hydrogen could help facilitate a globally scalable, resilient, and carbon free energy system. SoCalGas is working to shape California's 21st century energy system through investments in clean hydrogen, renewable natural gas, fuel cells, and carbon management. For more information about SoCalGas' hydrogen innovation, visit http://socalgas.com/hydrogen. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America . In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook . 1 The foregoing award is preliminary and subject to change based on award negotiations between ARCHES [the grant recipient] and DOE. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include risks and uncertainties relating to: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), U.S. Department of Energy, and other governmental and regulatory bodies and (ii) the U.S. and states, counties, cities and other jurisdictions therein where we do business; the success of business development efforts and construction projects, including risks in (i) completing construction projects or other transactions on schedule and budget, (ii) realizing anticipated benefits from any of these efforts if completed, and (iii) obtaining the consent or approval of third parties; litigation, arbitrations and other proceedings, and changes to laws and regulations; cybersecurity threats, including by state and state-sponsored actors, of ransomware or other attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which have become more pronounced due to recent geopolitical events; our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook or (ii) rising interest rates and inflation; failure of our counterparties to honor their contracts and commitments; the impact on affordability of our customer rates and our cost of capital and on our ability to pass through higher costs to customers due to (i) volatility in inflation, interest rates and commodity prices and (ii) the cost of the clean energy transition in California; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas storage capacity, including disruptions caused by failures in the pipeline system or limitations on the withdrawal of natural gas from storage facilities; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, any of which may increase our costs, reduce our competitiveness, impact our ability to do business with certain counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website,  www.sec.gov , and on Sempra's website,  www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Mexico, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
Human Services Association, Southeast Community Development Corporation & Others Join SoCalGas in Providing 20,000 Meals for Seniors in Southeast Los Angeles
SoCalGas' $235,000 Donation to Help Address Food Insecurity is Part of a $4 Million Fueling Our Communities Initiative LOS ANGELES, Oct. 12, 2023 /PRNewswire/ -- As part of SoCalGas' 2023 Fueling Our Communities initiative, the company announced a $200,000 donation to the nonprofit organization Human Services Association (HSA) to provide 20,000 meals to 5,000 seniors in Southeast Los Angeles County. As part of the initiative, the nonprofit Southeast Community Development Corporation (SCDC) was also awarded $35,000 to provide 595 boxes of food to low-income seniors as well as information on SoCalGas' Customer Assistance Programs to help save money and conserve energy. At today's grant announcement, SoCalGas volunteers attended a festive lunch with HSA and SCDC at the Paramount Community Center in the city of Paramount, where they helped distribute warm meals to a group of about 170 seniors. "Human Services Association would like to express our heartfelt gratitude to SoCalGas for their generous support in providing meals to seniors. Your assistance has made a significant difference in the lives of those in our community, ensuring that our seniors have access to nutritious and warm meals. Your commitment to social responsibility is commendable, and we are thankful for your partnership in this important endeavor," said Ricardo Mota, Chief Executive Officer at HSA. "I appreciate SoCalGas for supporting both the Human Services Association and the Southeast Community Development Corporation and getting warm meals to thousands of low-income seniors who have had trouble affording their groceries and making ends meet. This type of ongoing generosity makes an incredible difference in our communities and in the lives of people who need some help right now," said Los Angeles County Board of Supervisors Chair Janice Hahn. The grants to HSA and SCDC are two of several donations to local charities, funding programs to provide meals and groceries this year. SoCalGas expanded the impact of the Fueling Our Communities initiative by allocating $4 million in 2023, the largest commitment to date, to new and existing partnerships with food banks and nonprofits throughout SoCalGas's twelve county service area in Central and Southern California. "The city of Paramount hosts lunches for seniors at our community center year-round. Our seniors come together to enjoy music, socializing and warm meals thanks to partners like the Human Services Association. This partnership truly provides nourishment of the body and soul of our residents," said City of Paramount Mayor Isabel Aguayo. Hunger continues to be a pressing and widespread issue, with approximately 1 in 4 residents facing food insecurity, according to a USC report. HSA has been pivotal in addressing food insecurity in Artesia, Bell, Bell Gardens, Bellflower, Cerritos, Commerce, Compton, Cudahy, Downey, Hawaiian Gardens, Huntington Park, Lakewood, Long Beach, Los Angeles, Lynwood, Maywood, Paramount, South Gate, and Walnut Park. "The Fueling Our Communities initiative demonstrates SoCalGas' deep commitment to the well-being of the communities we serve," said Andy Carrasco, SoCalGas Vice President of Communications, Local Government and Community Affairs and long standing SCDC board member. "Our continued work with the Human Services Association and Southeast Community Development Corporation is an extension of an incredible partnership to provide warm meals to seniors in need." The Fueling Our Communities initiative began in 2020 as a collaborative effort between SoCalGas and five regional nonprofits in response to the COVID-19 pandemic. During its first summer, the program successfully provided more than 140,000 meals to 40,000 individuals from underserved communities across Southern California. SoCalGas remains committed to supporting local communities and driving positive change. Through the Fueling Our Communities initiative and partnerships with organizations like the HSA and SCDC, SoCalGas continues to make a tangible difference in the lives of those affected by food insecurity. Media assets About SoCalGasHeadquartered in Los Angeles, SoCalGas ® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (@SoCalGas), Instagram (@SoCalGas) and Facebook. About HSAHuman Services Association (HSA) is a private nonprofit agency whose principal mission is to provide families with compassionate and comprehensive care to promote wellness and build strong communities. HSA was founded in Bell Gardens in 1940 as an outreach effort of the Presbyterian Church USA, when floods in the area highlighted the pre-existing and growing problems of poverty in Bell Gardens and surrounding southeast Los Angeles County communities. Today, HSA serves over 15,000 clients annually on a non-sectarian basis with a range of services that addresses the unique and shared needs of clients of all ages. With 27 programs across three departments (Early Childhood Education, Family Services, and Senior Services), HSA plays a key role in supporting communities across Los Angeles County. As part of its commitment to building stronger communities, HSA provides several programs addressing food insecurity. Key among these is the home-delivered meals (Meals on Wheels) program, which provides a warm, nutritious meal and a wellness check to homebound seniors five days a week. Additionally, HSA operates 31 congregate meals sites across Los Angeles County which provide a space for seniors to socialize and enjoy food among friends. During the 2021-22 fiscal year, over 750,000 seniors received meals through these life-changing programs. Moving forward, HSA remains committed to addressing food insecurity in communities across Los Angeles County. SOURCE Southern California Gas Company
Tania Ortiz Mena Appointed to Board of Directors for U.S. Chamber of Commerce's U.S.-Japan Business Council
HOUSTON, Oct. 10, 2023 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), today announced that its president, Tania Ortiz Mena, has been appointed to the Board of Directors for the U.S. Chamber of Commerce's U.S.-Japan Business Council (USJBC). She will also be the U.S. co-chair of the Energy and Infrastructure Working Group. "Given Japan's heavy dependence on imported energy, the U.S.-Japan Business Council has shown great initiative in recognizing the value of energy to national security and its economic development," said Tania Ortiz Mena, president of Sempra Infrastructure. "We are thrilled to help strengthen the Council's work with our company's deep experience, high-performing talent and versatility across sectors to help enable continued U.S.- Japan energy security cooperation and a cleaner energy future." Ortiz Mena's appointment comes after Sempra Infrastructure recently announced a non-binding agreement to participate in the evaluation of a proposed project to produce e-natural gas with a leading Japanese consortium. If developed, the project could be the first link of an international liquified e-natural gas supply chain in the U.S. Gulf Coast region. Established in 1971, the USJBC is a Washington, D.C.-based association whose mission is to advance U.S. business interests in Japan and promote stronger economic ties between the United States and Japan. It is comprised of leading U.S. companies that place a high priority on doing business in Japan and has a strong institutional relationship with a Japanese counterpart, the Japan-U.S. Business Council (JUBC), comprised of major Japanese companies. Together, the USBJC and JUBC serve as the preeminent private sector voice in the U.S.- Japan commercial relationship. The USJBC operates five sector-specific joint working groups with JUBC focused on digital economy, energy and infrastructure, financial services, healthcare innovation, and travel, tourism, and transportation. "We are delighted by President Ortiz Mena's appointment to our Board and look forward to working with her to advance our members' work in Japan and promote the U.S. and Japan's mutual energy security and decarbonization efforts," said USJBC Executive Director Tomoko Hosaka Mullaney. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building and operating, and investing in clean power, energy networks, and LNG and net-zero solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers across the globe to modern energy infrastructure to source and transport renewables and natural gas, while advancing carbon sequestration and clean hydrogen. For more information about Sempra Infrastructure, please visit: www.SempraInfrastructure.com and X. This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "initiative," "target," "outlook," "optimistic," "poised," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations. Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include risks and uncertainties relating to: decisions, investigations, inquiries, regulations, denials or revocations of permits, consents, approvals or other authorizations, and other actions by (i) the U.S. Department of Energy, Comisión Reguladora de Energía, U.S. Federal Energy Regulatory Commission and other governmental and regulatory bodies and (ii) the U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) being able to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) realizing anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of third parties; litigation, arbitrations, property disputes and other proceedings, and changes to laws and regulations, including those related to the energy industry in Mexico; cybersecurity threats, including by state and state-sponsored actors, of ransomware attacks on our systems or the systems of third parties with which we conduct business, including the energy grid or other energy infrastructure, all of which have become more pronounced due to recent geopolitical events; our ability to borrow money on favorable terms and meet our obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook or (ii) rising interest rates and inflation; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; the impact on our ability to pass through higher costs to customers due to volatility in inflation, interest and foreign currency exchange rates and commodity prices; the impact of climate and sustainability policies, laws, rules, regulations, disclosures and trends, including actions to reduce or eliminate reliance on natural gas, the risk of nonrecovery for stranded assets, and our ability to incorporate new technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas, including disruptions caused by failures in the pipeline system of limitations on the withdrawal of natural gas from storage facilities; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, any of which may increase our costs, reduce our competitiveness, impact our ability to do business with certain counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which are difficult to predict and beyond our control. These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra's website, www.sempra.com . Investors should not rely unduly on any forward-looking statements. Sempra Infrastructure and Sempra Infrastructure Partners are not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and none of Sempra Infrastructure, Sempra Infrastructure Partners nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra Infrastructure
13 Innovators Awarded Grants through the SoCal Climate Champions Grant from SoCalGas
With a total of $400,000 grant funds awarded, SoCalGas is supporting 13 nonprofits' innovative climate solutions in communities throughout Southern California LOS ANGELES, Oct. 10, 2023 /PRNewswire/ -- SoCalGas announced today that 13 innovative organizations were awarded project grants of up to $40,000 each through the company's SoCal Climate Champions Grant. These grants aim to support projects that focus on resilient energy, clean air, and organic waste to reduce, mitigate, or sequester greenhouse gas emissions. The SoCal Climate Champions Grant recognizes programs, projects and research submissions that address climate solutions for communities in SoCalGas' service areas. Since its start in 2021, the grant has distributed $1 million in grants to nonprofits innovating for a more sustainable future. The SoCal Climate Champions Grant is part of a renewed focus on SoCalGas' Environmental Champions Initiative that began in 2015. Since then, the SoCalGas' Environmental Champions Initiative has awarded more than 200 grants, totaling over $3.8 million to support projects that improve the environment or lower emissions. "Grant recipients are implementing climate solutions that closely align with SoCalGas' ASPIRE 2045 Sustainability strategy. Our recipients are trailblazers, and we are proud to support projects that bring our communities closer to meeting California's net-zero emissions goals," said Jawaad Malik, Chief Strategy and Sustainability Officer at SoCalGas. "With this grant from SoCalGas, Trust for Public Land will be able to expand and implement Green Schoolyard transformations across Los Angeles County, increasing climate resilience in the communities that need it most. It's exciting to see partners coming together to recognize and act on innovative climate solutions for Southern California," said Guillermo Rodriguez, Trust for Public Land's California State Director and VP – Pacific Region, a SoCal Climate Champions Grant recipient. The 2023 awardees are the North American Sustainable Refrigeration Council, Santa Monica Mountains Fund, The Ecology Center, Wyland Foundation, Akoma Unity Center, San Bernardino Valley College, Trust for Public Land, AltaSea at the Port of Los Angeles, Pasadena Tournament of Roses Association, Go Green Initiative, Friends of Ballona Wetlands, GrowingGreat, and Friends of Cabrillo Marine Aquarium. This initiative is part of SoCalGas' ASPIRE 2045 sustainability strategy, including a plan to invest $50 million over five years in underserved communities. SoCalGas is working with stakeholders to decarbonize its operations and support California in creating a cleaner, more resilient energy future. Media Assets About SoCalGasHeadquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, and increasingly renewable gas service to over 21 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy infrastructure company in America. In support of that mission, SoCalGas aspires to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045 and to replacing 20 percent of its traditional natural gas supply to core customers with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy infrastructure company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on X (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
Tania Ortiz Mena Appointed President of Sempra Infrastructure
HOUSTON, Sept. 27, 2023 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), today announced that Tania Ortiz Mena has been appointed president of Sempra Infrastructure. In this role, Ortiz Mena will lead the company's three business lines – clean power, energy networks, and LNG and net-zero solutions. Ortiz Mena most recently served as group president of clean power and energy networks at Sempra Infrastructure. With a professional career spanning more than 23 years in the Sempra family of companies, she has held various roles including serving as IEnova's chief executive officer, chief development officer and vice president of development and external affairs. "Tania's extensive experience and exemplary leadership will continue to drive our growth strategy and commitment to facilitate a responsible energy transition, guided by our vision of delivering energy for a better world," said Justin Bird, CEO of Sempra Infrastructure. "I am confident that Tania's vast expertise will continue to position Sempra Infrastructure as a champion of innovative energy solutions." Currently, Ortiz Mena also serves as independent board member of the Mexican Stock Exchange and chairs its Corporate Practices Committee. She is an active participant in the U.S. –Mexico CEO Dialogue and the Inter-American Dialogue, and serves on the board of directors of several organizations including the American Chamber of Commerce Mexico, the Mexican Natural Gas Association and the Mexican Council on Foreign Relations. About Sempra Infrastructure Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building and operating, and investing in clean power, energy networks, and LNG and net-zero solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers across the globe to modern energy infrastructure to source and transport renewables and natural gas, while advancing carbon sequestration and clean hydrogen. For more information about Sempra Infrastructure, please visit www.SempraInfrastructure.com and X. Sempra Infrastructure and Sempra Infrastructure Partners are not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and none of Sempra Infrastructure, Sempra Infrastructure Partners nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra North American Infrastructure

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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).