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Displaying results 256 - 270 of 1204
Grants of Up to $500 Still Available to Help Customers Pay Gas Bill
Gas Assistance Fund has distributed over $2 million dollars, helping over 10,000 families. Approximately $3 million dollars remain to support eligible residential customers pay for their natural gas. LOS ANGELES, May 24, 2023 /PRNewswire/ -- Today SoCalGas announced that approximately $3 million dollars of the committed $6 million is still available in the company's Gas Assistance Fund to support eligible customers in paying their natural gas bill. This year, over 10,000 SoCalGas customers have already benefitted from the Gas Assistance Fund, which helps income-qualified customers pay their natural gas bill with a one-time grant of up to $500. The company's contribution to the Gas Assistance Fund in the 2022-2023 grant cycle was the largest in the fund's 40-year history. The Gas Assistance Fund is a joint effort between SoCalGas and United Way of Greater Los Angeles. Working with non-profit organizations throughout SoCalGas's service territory, United Way of Greater Los Angeles helps income-qualified customers pay their natural gas bill with a one-time grant of up to $400 per household, up from $100 last year. If the eligible applicant or a household member is age 55 or older, an additional $100 is available - for a maximum grant of up to $500. Since the fund's expansion, the average grant per household has been approximately $300. Full guidelines for qualification can be found at socalgas.com/GAF. "Through a record $6 million donation to SoCalGas's Gas Assistance Fund, over 10,000 families have applied and benefited from grants of up to $500 to help pay their gas bills. However, funds remain. To reach more customers who might need assistance with paying their bills, we expanded the eligibility requirements and encourage customers to visit our website to see if they now qualify," said Gillian Wright, Senior Vice President and Chief Customer Officer. "We also offer useful resources on energy conservation, assistance programs to manage energy consumption, and make energy-efficient home improvements to help lower customer bills." "Since 1983, the Gas Assistance Fund has helped over 240,000 Californians facing financial hardship afford basic necessities," said Elise Buik, President & CEO at United Way of Greater Los Angeles . "With SoCalGas's large contribution this year, United Way has dramatically expanded our reach to help thousands of individuals, older adults, and families across our region." "The expanded grants have been able to make a meaningful impact in the families we serve," said Amy Zhao, Program Manager at Chinatown Service Center, a non-profit organization that assists customers with participation in the program. "Gas Assistance Fund grants play a crucial role in sparing our community from the agonizing decision of prioritizing between feeding their families or covering essential utility expenses." "Thanks to the partnership between SoCalGas and United Way of Greater Los Angeles, families have an opportunity to receive funds that ensure access to an essential utility," said Senator Steven Bradford. " Six million dollars is a huge commitment to the community, and it's great to see these two organizations come together and make a difference in the lives of some of our most vulnerable neighbors." In addition to the Gas Assistance Fund, SoCalGas offers other programs that can help qualified customers save money on their monthly gas bills. The Medical Baseline Allowance provides qualified customers additional natural gas at the baseline rate and the California Alternative Rates for Energy (CARE) program can help eligible customers save 20% on their monthly gas bills. The free Ways to Save tool may also help customers find ways to save on natural gas bills, with a personalized savings plan that offers a household energy analysis, customized energy-efficiency recommendations, bill comparisons, and energy usage comparisons. Customers can also sign up for Bill Tracker Alerts to monitor gas consumption and take steps to reduce usage to avoid surprises on their bills. To see more programs that can help customers save money and energy, visit https://www.socalgas.com/save-money-and-energy. For more information about the Gas Assistance Fund, visit socalgas.com/GAF. 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 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, issuances 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 in which 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 r ates 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, such as those imposed in connection with the war in Ukraine, 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 CEO details strategy for growth on CNBC
In an interview in Los Angeles with CNBC host Jim Cramer, Jeffrey Martin spoke about Sempra’s three growth platforms, record $40 billion capital plan, ESG leadership and commitment to the service of others. Sempra’s decision to simplify its business model to focus on developing energy infrastructure in some of the most attractive markets in North America is one reason the company is successful today, Jeffrey W. Martin, chairman and chief executive officer of Sempra, told Jim Cramer on CNBC’s “Mad Money” this week. “By narrowing our business strategy and improving our capital discipline, it is paying dividends,” Martin said. “Over the last three years, we returned $5 billion to our owners in the form of share repurchases and dividends, while growing our adjusted earnings per share at roughly 10% annually.” Today, that same strategy supports a record $40 billion, five-year capital plan, which includes underlying rate base growth at the company’s utilities of 9% annually through 2027. “When you put that level of projected capital spending and growth together with the company’s current dividend yield of 3.2% — it creates what is potentially a very attractive growth and income opportunity for investors,” said Martin. With the recent release of Sempra’s 15th annual Corporate Sustainability Report, Cramer also asked Martin about the company’s success in advancing sustainable business practices. “What we’re trying to do is help America decarbonize the energy grid here at home and make sure, in foreign countries, as they adopt renewables and cleaner forms of energy, they can use complimentary fuels like natural gas to help them decarbonize more quickly,” said Martin. “ Hydrogen is also expected to become a feedstock for industry and heavy-duty transportation. In the future, we think it’s going to be an important fuel source for our country.” Closing the interview, Cramer asked Martin about his service in the U.S. Army. “A lot of people focus on the discipline, teamwork and higher levels of responsibility that come with military service, but the key takeaway for me was the opportunity to serve an ideal greater than myself — it was an honor to work alongside so many incredible men and women from diverse backgrounds and all walks of life who shared a common love of country and purpose,” said Martin, a West Point graduate. “That same common purpose can be seen at Sempra as 20,000 talented employees work together to support our mission to build the leading energy infrastructure company in North America. To do that we have made a strong commitment to be a leader in sustainability and to invest in innovation and new technologies to better serve our stakeholders.” This article 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 article. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise. In this article, 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: 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, issuances or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by (i) the 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, and other governmental and regulatory bodies and (ii) the U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries in which 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 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 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, (iii) with respect to SDG&E’s business, departing retail load resulting from additional customers transferring to Community Choice Aggregation and Direct Access, and (iv) 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; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those imposed in connection with the war in Ukraine, 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, sec.gov, and on Sempra’s website. 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.
Sempra Ranked No. 1 Employer for Diversity Among U.S. Utilities by DiversityInc
Ranked fourth in the nation among regional employers for diversity Named among the Top Companies for Philanthropy by DiversityInc SAN DIEGO, May 23, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) has been named the top-ranked utility company in the U.S. for diversity, beating out its peers to earn the No. 1 spot on DiversityInc's Top Utilities list for 2023. Recognized as an industry leader for its commitment to cultivating an inclusive and high-performance culture and for its dedication to advancing programs that support historically underrepresented communities, Sempra also earned spots on DiversityInc's Top Regional Employers and Top Companies for Philanthropy lists. The rankings are based on six key areas of workplace fairness: Human capital, leadership accountability, talent development, workforce practices, supplier diversity and philanthropy. "For 25 years, our high-performance culture has brought together employees of different backgrounds, perspectives and ideas with a shared goal of delivering energy with purpose," said Mitch Mitchell, senior vice president of diversity and community partnerships for Sempra. "We believe that the diversity of our workforce empowers the Sempra family of companies to better serve our consumers and the communities in which we operate, while also benefitting our shareholders and other stakeholders." By the Numbers Sempra is dedicated to building a high-performance culture enriched by the diverse backgrounds and lived experiences of its employees. In 2022, people of color made up nearly 60% of the U.S.-based workforce and women represented 34% of leadership across the Sempra family of companies. The company also consistently provides opportunities to promote diversity and inclusion among its employees through direct engagement, employee resource groups and enterprise-wide events covering topics such as allyship in action and mental health awareness. Sempra's diverse and inclusive environment also extends to the communities it serves. In 2022, the company provided $40 million in community giving through the Sempra family of companies and the Sempra Foundation. Additionally, Sempra's California and Texas utilities in 2022 purchased more than $2.4 billion in goods and services from businesses owned by women, minorities, service-disabled veterans and members of the LGBTQ+ community, representing about 30% of total supplier spend. Learn more about Sempra's inclusive and high-performance culture in its 2022 Corporate Sustainability Report. About the Top 50 Companies for Diversity List The Top 50 Companies for Diversity List has been published annually since 2001. Conducted by Fair360, the list aims to educate the workforce about workplace fairness, equity and inclusion. The list is compiled based on company-provided data that covers leadership accountability, human capital diversity metrics, talent programs, workplace practices, supplier diversity and philanthropy for judges to review. "Since 2001, the DiversityInc Top 50 survey has become the external validator for large U.S. employers committed to promoting fairness," said Carolynn Johnson, CEO of DiversityInc. "These rankings represent evidence-based, superior human capital outcomes achieved only by data transparency and an unwavering commitment to workplace fairness for everyone." 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 Twitter @Sempra. SOURCE Sempra
SoCalGas Highlights Several Milestones Advancing the Company's ASPIRE 2045 Sustainability Strategy in 2022 Corporate Sustainability Report
The report highlights the progress SoCalGas has made to accelerate the transition to clean energy, improve local air quality, increase clean energy access and affordability, and advance a diverse, equitable, and inclusive culture while achieving world class safety. LOS ANGELES, May 23, 2023 /PRNewswire/ -- Southern California Gas Company (SoCalGas) today published its section of parent company Sempra's 2022 Corporate Sustainability Report detailing SoCalGas' dedication towards advancing the clean energy transition, environmental benefits, social equity, as well as the safety and well-being of its customers, employees, and the communities it serves. SoCalGas' ASPIRE 2045 sustainability strategy also closely aligns with Sempra's key sustainability pillars: enabling the energy transition, driving resilient operations, championing people, and achieving world-class safety. "Every Californian deserves a clean, affordable, safe, and resilient energy future and our ASPIRE 2045 sustainability strategy sets the path to achieve that future through innovation, collaboration and decarbonization," says Jawaad Malik, chief strategy, and sustainability officer at SoCalGas. "Over the last year, our progress continues to drive better business outcomes, create new opportunities for our skilled employees, and build stronger and more resilient communities across our service territory." Enabling the Energy Transition In support of enabling the energy transition, SoCalGas announced its proposal to develop Angeles Link, an energy transportation infrastructure system that could deliver reliable clean renewable hydrogen to the Los Angeles Basin for use in heavy-duty transportation, industrial processes, electric generation and other "hard-to-electrify" sectors of the Southern California economy. Additionally, SoCalGas unveiled the [H2] Innovation Experience that is constructed to Leadership in Energy and Environmental Design (LEED) Platinum standards and demonstrates how a renewable hydrogen microgrid can provide a resilient and reliable source of power. This technology could allow neighborhoods to operate independently from electric grids that may subject customers to power loss or interruptions in service on days when grid reliability is compromised by heatwaves, wildfires, rain, persistent cloud cover, and other types of severe weather or equipment failure. "As we work toward achieving California's ambitious clean energy goals, SoCalGas' forward-thinking solutions, at scale and in collaboration with state and federal partners, offer real promise on paving the way for the essential role clean energy sources like hydrogen will play in meeting future energy demand," says Senator Josh Newman (D-Fullerton). "As we make the necessary plans and investments in the infrastructure for a clean energy economy, innovative solutions like the ones under development at SoCalGas can breathe new life into existing infrastructure systems, helping our state decarbonize affordably while providing Californians the energy supply necessary to power one of the world's largest and most dynamic economies." In 2022, SoCalGas also became the first gas-only utility in the U.S. to issue green bonds in a public offering. Following Sempra's Sustainable Financing Framework, SoCalGas raised $600 million in bonds to support specified projects within its sustainability initiatives. The net proceeds from the fixed-rate green bonds will finance and/or refinance sustainability investments in pollution prevention and control, green buildings, and clean transportation. Driving Resilient Operations An effort that both enables the energy transition and drives resilient operations is SoCalGas' investments in leak detection technologies, which meaningfully advance methane emissions reductions. SoCalGas reduced methane emissions by 37% through 2021 – exceeding the state's goal of a 20% reduction by 2025 and nearing the state's goal of a 40% reduction by 2030. Additionally, as of the end of 2022, 36% of the company's over-the-road fleet are alternative fuel vehicles. The company has an interim goal to convert 50% of its fleet to zero emissions vehicles by 2025 and aims to reach 100% zero emissions vehicles by 2035. SoCalGas is also using renewable power from the grid at eligible facilities, underscoring its aim to achieve net-zero greenhouse gas emissions in its operations and delivery of energy by 2045. Championing People SoCalGas aims to increase diversity, equity, and inclusion in the workplace and in the communities it serves. In 2022, SoCalGas purchased over $1 billion or nearly 43% of all goods and services, from minority, women, service-disabled veteran, and LGBT owned businesses, collaborating with 578 diverse businesses in total, with the majority of those firms based in California. "SoCalGas' investments are vital to the health and longevity of our local communities their guidance provides clarity to the everyday obstacles that underserved small businesses face," says Gene Hale , chairman for the Greater Los Angeles African Chamber of Commerce. "We are grateful for the resources, assistance, and pathway to long term economic success that SoCalGas provides which are essential for a sustainable future." SoCalGas also partners with organizations like the Utility Workers Union of America to train veterans and invests in community grant programs that provide underserved populations with technical trainings and customer service skills. As part of SoCalGas' Equity Action Plan, the company launched Employee Resource Groups (ERGs), which are voluntary, employee-led groups that fosters diversity and inclusion, professional development support, and a sense of community. Achieve World Class Safety SoCalGas describes its pipeline fiber optic technology pilot program, which demonstrates how monitoring the environment to detect changes in temperature, movement and sound can provide early detection, mitigation, and prevention of potential damage to pipeline infrastructure, while enhancing public safety, especially for the workers who operate and maintain it. Read the full 2022 Corporate Sustainability Report here. For more information on SoCalGas' transformation and support of California's clean energy goals, read our ASPIRE 2045 Sustainability Strategy 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. 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, issuances 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 in which 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, such as those imposed in connection with the war in Ukraine, 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
Shaping California’s clean hydrogen future
$140M invested in collaborations with Sempra partners to research and develop cleaner fuels, hydrogen tech and energy infrastructure. Learn More
SoCalGas Declares Preferred Dividends
LOS ANGELES, May 16, 2023 /PRNewswire/ -- The board of directors of Southern California Gas Co. (SoCalGas) has declared regular quarterly dividends for the preferred series stock of the company as follows: SoCalGas: Preferred Stock $0.375 per share Preferred Stock, Series A $0.375 per share The dividends are payable on July15, 2023, to shareholders of record on June 10, 2023. 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. SOURCE Southern California Gas Company
Sempra Shaping a Better Future for Generations to Come
Twenty-five years advancing sustainable business practices Investments powering a lower-carbon future Achievements progressing across four sustainability pillars SAN DIEGO, May 15, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today released its 2022 Corporate Sustainability Report highlighting its commitment to sustainable business practices designed to drive growth and advance the company's mission to be North America's premier energy infrastructure company. "Sustainable business practices have been championed by our employees since our company's founding 25 years ago, creating a long-lasting positive impact for all we are privileged to serve," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. "Our strong corporate governance and management practices emphasize sustainability as an essential component of our business that not only mitigates risk but also contributes to new business opportunities that align with our values. I could not be more pleased by our collective progress." The 2022 report emphasizes Sempra's deep-rooted commitment to sustainability and its integral role in shaping the company's corporate strategy, capital allocation and operational performance, with a view toward delivering measurable benefits for its stakeholders. The company believes this sustainability-centered approach has led to better, more predictable financial outcomes, demonstrating tangible value creation for its shareholders and other stakeholders. View the full report at: csr.sempra.com. "Sempra is focused on our unwavering commitment to safety and innovative solutions to improve resiliency in communities we serve, while also strengthening energy security domestically and globally," said Lisa Larroque Alexander, senior vice president of corporate affairs and chief sustainability officer at Sempra. "Over the next five years, our capital campaign represents a road map of our plans to invest $40 billion in critical infrastructure to build next-generation energy networks aimed at delivering cleaner sources of energy. These investments will help advance the lower-carbon future for which we all aspire." The report summarizes progress made throughout 2022 in pursuit of Sempra's business strategy to decarbonize its own operations while advancing a cleaner energy transition for consumers and the communities it serves. Of note, the 2022 report outlines important updates on Sempra's environmental, social and governance priorities including the company's advancements toward: Strengthening operational safety resulting in an 18% decrease in lost work-time incidents compared to 2021. Enhancing critical infrastructure to bring cleaner energy sources on to the grid and help increase safety and reliability through new investments. Empowering communities with $40 million in charitable contributions from the Sempra family of companies and the Sempra Foundation. Fostering a high-performing work culture driven by diversity, inclusion and shared values. In 2022, women presented 34% of our leadership and people of color made up 59% of the Sempra family of companies' U.S. workforce. In addition to providing a holistic view of progress across its four sustainability pillars— enabling the energy transition, driving resilient operations, achieving world-class safety and championing people—the 2022 report features individual updates from the company's three growth platforms: Sempra California, Sempra Texas and Sempra Infrastructure. Each update of Sempra's three business platforms provides important insights into the enterprise-wide focus on sustainable growth underpinned by investments in cleaner energy solutions in some of North America's leading markets. 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 Twitter @Sempra. 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: 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, issuances or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by (i) the 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, and other governmental and regulatory bodies and (ii) the U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries in which 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 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 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, (iii) with respect to SDG&E's business, departing retail load resulting from additional customers transferring to Community Choice Aggregation and Direct Access, and (iv) 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; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those imposed in connection with the war in Ukraine, 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, 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. SOURCE Sempra
Sempra Declares Common Dividend
SAN DIEGO, May 11, 2023 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced that its board of directors has declared a $1.19 per share quarterly dividend on the company's common stock, which is payable Jul. 15, 2023, to common stock shareholders of record at the close of business on Jul. 5, 2023. 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 Twitter @Sempra. SOURCE Sempra
Sempra Reports First-Quarter 2023 Earnings Results
Finalizes base rate review at Oncor Announces $4 billion increase to Oncor’s five-year capital plan Updates Sempra’s five-year capital plan to $40 billion Issues full-year 2024 EPS guidance range of $9.10 to $9.80 SAN DIEGO, May 4, 2023 /PRNewswire/ — Sempra (NYSE: SRE) (BMV: SRE) today announced first-quarter 2023 earnings of $969 million, or $3.07 per diluted share, compared to first-quarter 2022 earnings of $612 million, or $1.93 per diluted share. On an adjusted basis, the company’s first-quarter 2023 earnings were $922 million, or $2.92 per diluted share, compared to $924 million, or $2.91 per diluted share, in 2022. “At Sempra, our strategy is focused on building new energy networks right here in North America that improve energy security and support decarbonization — and we are seeing significant opportunities across all three growth platforms,” said Jeffrey W. Martin, chairman and chief executive officer of Sempra. “Our strategy, together with our commitment to safety, operational excellence and disciplined capital allocation, positions us to deliver another strong year of financial performance.” The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP (generally accepted accounting principles in the United States of America) earnings, reconciled to adjusted earnings, for the first quarter of 2023 and 2022. (Dollars and shares in millions, except EPS) Three months ended March 31, 2023 2022 (Unaudited) GAAP Earnings $ 969 $ 612 Impact associated with Aliso Canyon litigation — 66 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 109 75 Net unrealized (gains) losses on derivatives (217) 51 Net unrealized losses on a contingent interest rate swap related to the Port Arthur LNG Phase 1 project 17 — Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of noncontrolling interest to Abu Dhabi Investment Authority — 120 Adjusted Earnings (1) $ 922 $ 924 Diluted Weighted-Average Common Shares Outstanding 316 317 GAAP EPS $ 3.07 $ 1.93 Adjusted EPS (1) $ 2.92 $ 2.91 1) See Table A for information regarding non-GAAP financial measures and descriptions of adjustments. Earnings Guidance Sempra is updating its full-year 2023 GAAP earnings per common share (EPS) guidance range of $8.76 to $9.36, affirming its full-year 2023 adjusted EPS guidance range of $8.60 to $9.20 and announcing its full-year 2024 EPS guidance range of $9.10 to $9.80. The company is also affirming its projected long-term EPS growth rate of 6% to 8%. Capital Investment Opportunities Sempra sees robust opportunities for significant capital investments across all three growth platforms over the next five years, with a goal of improving safety, bolstering reliability and supporting the delivery of cleaner sources of energy. To capture these opportunities, the company is announcing a new five-year capital plan of $40 billion for 2023-2027. The referenced capital plan only includes Sempra’s proportionate ownership share of capital expenditures. “This is an exciting time for our company. Continued strong execution across our three growth platforms, together with significant projected rate base growth, support our positive view of the earnings power of our business going forward,” said Trevor Mihalik, executive vice president and chief financial officer of Sempra. “As we look to the future, our five-year capital plan contemplates the deployment of approximately $40 billion to help ensure safe and reliable operations and support growing demand while advancing the energy transition in the markets we serve.” Sempra California San Diego Gas & Electric Co. (SDGE) and Southern California Gas Co. (SoCalGas) continue to invest in safety, reliability and technology innovation that align with the state’s decarbonization goals. Sempra’s 2023-2027 capital plan targets $21.4 billion in investments to better serve customers at its California utilities, improve operational safety and reliability and help drive electrification and decarbonization across multiple sectors of the economy. Throughout the quarter, SDGE and SoCalGas advanced strategic programs to modernize their energy networks and advance climate resiliency and access to cleaner energy. In March, SDGE achieved a major milestone in its Valley Center transmission line upgrade project, completing the placement of five miles of transmission lines underground and hardening of existing overhead transmission. Earlier in the quarter, SoCalGas unveiled its H2 Innovation Experience, North America’s first renewable hydrogen microgrid and home. Together with California’s other investor-owned utilities, SDGE recently submitted a proposal to the California Public Utilities Commission (CPUC) to reform how consumers are charged for electricity and transmission and distribution infrastructure. The proposal is designed to advance affordability for low-to-mid income customers and make bills more stable and transparent. This comes in response to a new California state law requiring the CPUC to adopt a fixed-price fee structure to help make electricity more affordable and support broader decarbonization across the state. A proposed decision is expected in early 2024. Sempra Texas In April, Oncor Electric Delivery Company LLC (Oncor) received a final order from the Public Utility Commission of Texas (PUCT) in its base rate review proceeding, which preserved Oncor’s equity layer at 42.5% and updated its return on equity to 9.7%. Oncor estimates the PUCT’s final order will result in an average increase of approximately $79 million over the 2021 test year. Subsequently, Oncor announced its five-year capital plan of $19 billion to support strong demand growth, reliability and resiliency in one of the fastest growing markets in the country. Oncor continues to advance critical transmission and distribution infrastructure projects to support population growth in Texas and increase reliability for the Electric Reliability Council of Texas (ERCOT) market. At the end of the first quarter of 2023, Oncor had approximately 650 active generation and retail transmission point-of-interconnection (POI) requests in queue, representing a 41% increase as compared to active generation and retail transmission POI requests in queue on March 31, 2022. Additionally, Oncor connected 17,000 new premises to the ERCOT grid in the first quarter and constructed or upgraded 257 miles of distribution and transmission power lines in the first quarter of 2023. Sempra Infrastructure During the first quarter, Sempra Infrastructure had strong operational performance across its three integrated business lines — clean power, energy networks and liquefied natural gas (LNG) and net-zero solutions — and delivered strong financial results. Notably, Sempra Infrastructure Partners reached a positive final investment decision for the development, construction and operation of the Port Arthur LNG Phase 1 project in Jefferson County, Texas. The company also announced a joint venture with an affiliate of ConocoPhillips, which has acquired a 30% non-controlling interest in Phase 1, and an agreement to sell to an affiliate of KKR an indirect, non-controlling interest in Phase 1, subject to regulatory approvals and other customary closing conditions. As such, Sempra Infrastructure Partners is targeting a 25% indirect ownership interest in Phase 1 under this project-level equity partnership. The $13 billion total estimated capital expenditures at the project are being financed with $6.8 billion of non-recourse project-level debt and $6.2 billion of project-level equity. Progress also continues at Energía Costa Azul LNG Phase 1 where construction at the project logged over six million hours worked with no lost time incidents and remains on track to reach commercial operations by summer of 2025. Earlier this quarter, the Cameron LNG Phase 2 development project received approval from the Federal Energy Regulatory Commission (FERC) for modifications to its expansion permit. Importantly, the modifications approved by the FERC include utilizing electric drive motors to replace gas turbine drives, which is expected to lower the overall direct onsite emissions of Phase 2 compared to the previously authorized project, as well as allow the tie-in of carbon capture and sequestration equipment into the existing Phase 1 facility to support further reductions in overall plant emissions. 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 Investors section of the company’s website, sempra.com/investors. The webcast will be available on replay a few hours after its conclusion at sempra.com/investors. About Sempra Sempra is a leading North American energy infrastructure company 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 Twitter @Sempra. 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: 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, issuances or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions by (i) the 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, and other governmental and regulatory bodies and (ii) the U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries in which 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 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 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, (iii) with respect to SDG&E’s business, departing retail load resulting from additional customers transferring to Community Choice Aggregation and Direct Access, and (iv) 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; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those imposed in connection with the war in Ukraine, 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, 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 ENERGY Table A CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in millions, except per share amounts; shares in thousands) Three months ended March 31, 2023 2022 (unaudited) REVENUES Utilities: Natural gas $ 4,412 $ 2,320 Electric 1,027 1,117 Energy-related businesses 1,121 383 Total revenues 6,560 3,820 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (2,683) (802) Cost of electric fuel and purchased power (114) (205) Energy-related businesses cost of sales (193) (135) Operation and maintenance (1,209) (1,086) Aliso Canyon litigation and regulatory matters — (92) Depreciation and amortization (539) (493) Franchise fees and other taxes (192) (162) Other income, net 41 38 Interest income 24 25 Interest expense (366) (243) Income before income taxes and equity earnings 1,329 665 Income tax expense (376) (334) Equity earnings 219 326 Net income 1,172 657 Earnings attributable to noncontrolling interests (192) (34) Preferred dividends (11) (11) Earnings attributable to common shares $ 969 $ 612 Basic earnings per common share (EPS): Earnings $ 3.08 $ 1.93 Weighted-average common shares outstanding 314,919 316,353 Diluted EPS: Earnings $ 3.07 $ 1.93 Weighted-average common shares outstanding 316,124 317,434 SEMPRA ENERGY 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 March 31, 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 $(109) million impact from foreign currency and inflation on our monetary positions in Mexico $217 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) Three months ended March 31, 2022: $(66) million impact associated with Aliso Canyon natural gas storage facility litigation at Southern California Gas Company (SoCalGas) $(75) million impact from foreign currency and inflation on our monetary positions in Mexico $(51) 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 effects on our monetary positions in Mexico and 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 expense (benefit) (1) Non-controlling interests Earnings Pretax amount Income tax (benefit) expense (1) Non-controlling interests Earnings Three months ended March 31, 2023 Three months ended March 31, 2022 (unaudited) Sempra GAAP Earnings $ 969 $ 612 Excluded items: Impact associated with Aliso Canyon litigation $ — $ — $ — — $ 92 $ (26) $ — 66 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 25 135 (51) 109 25 70 (20) 75 Net unrealized (gains) losses on commodity derivatives (428) 85 126 (217) 88 (20) (17) 51 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 $ 922 $ 924 Diluted EPS: Weighted-average common shares outstanding, diluted 316,124 317,434 Sempra GAAP EPS $ 3.07 $ 1.93 Sempra Adjusted EPS $ 2.92 $ 2.91 (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 ENERGY 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 $8.60 to $9.20 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 $(109) million impact from foreign currency and inflation on our monetary positions in Mexico $217 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 effects on our monetary positions in Mexico and 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 $ 8.76 to $ 9.36 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 0.14 0.14 Impact from foreign currency and inflation on our monetary positions in Mexico 0.34 0.34 Net unrealized gains on commodity derivatives (0.69) (0.69) Net unrealized losses on a contingent interest rate swap related to the PA LNG Phase 1 project 0.05 0.05 Sempra Adjusted EPS Guidance Range $ 8.60 to $ 9.20 Weighted-average common shares outstanding, diluted (millions) 316 SEMPRA ENERGY Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) March 31, 2023 December 31, 2022 (1) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 534 $ 370 Restricted cash 85 40 Accounts receivable – trade, net 2,581 2,635 Accounts receivable – other, net 498 685 Due from unconsolidated affiliates 74 54 Income taxes receivable 79 113 Inventories 315 403 Prepaid expenses 255 268 Regulatory assets 115 351 Fixed-price contracts and other derivatives 460 803 Greenhouse gas allowances 143 141 Other current assets 65 49 Total current assets 5,204 5,912 Other assets: Restricted cash 84 52 Regulatory assets 2,935 2,588 Greenhouse gas allowances 907 796 Nuclear decommissioning trusts 864 841 Dedicated assets in support of certain benefit plans 511 505 Deferred income taxes 148 135 Right-of-use assets – operating leases 639 655 Investment in Oncor Holdings 13,735 13,665 Other investments 2,001 2,012 Goodwill 1,602 1,602 Other intangible assets 337 344 Wildfire fund 295 303 Other long-term assets 1,482 1,382 Total other assets 25,540 24,880 Property, plant and equipment, net 49,805 47,782 Total assets $ 80,549 $ 78,574 (1) Derived from audited financial statements. SEMPRA ENERGY Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Dollars in millions) March 31, 2023 December 31, 2022 (1) (unaudited) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 3,037 $ 3,352 Accounts payable – trade 2,122 1,994 Accounts payable – other 283 275 Due to unconsolidated affiliates 41 — Dividends and interest payable 667 621 Accrued compensation and benefits 344 484 Regulatory liabilities 427 504 Current portion of long-term debt and finance leases 1,220 1,019 Reserve for Aliso Canyon costs 129 129 Greenhouse gas obligations 143 141 Other current liabilities 1,217 1,380 Total current liabilities 9,630 9,899 Long-term debt and finance leases 25,206 24,548 Deferred credits and other liabilities: Due to unconsolidated affiliates 278 301 Regulatory liabilities 3,408 3,341 Greenhouse gas obligations 650 565 Pension and other postretirement benefit plan obligations, net of plan assets 378 410 Deferred income taxes 4,938 4,591 Asset retirement obligations 3,564 3,546 Deferred credits and other 2,252 2,117 Total deferred credits and other liabilities 15,468 14,871 Equity: Sempra Energy shareholders' equity 27,667 27,115 Preferred stock of subsidiary 20 20 Other noncontrolling interests 2,558 2,121 Total equity 30,245 29,256 Total liabilities and equity $ 80,549 $ 78,574 (1) Derived from audited financial statements. SEMPRA ENERGY Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Three months ended March 31, 2023 2022 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 1,172 $ 657 Adjustments to reconcile net income to net cash provided by operating activities 357 705 Net change in working capital components 451 326 Distributions from investments 199 204 Changes in other noncurrent assets and liabilities, net (199) (285) Net cash provided by operating activities 1,980 1,607 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (1,830) (1,204) Expenditures for investments (85) (85) Purchases of nuclear decommissioning and other trust assets (181) (242) Proceeds from sales of nuclear decommissioning and other trust assets 199 242 Other 2 (1) Net cash used in investing activities (1,895) (1,290) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (360) (349) Issuances of common stock — 3 Repurchases of common stock (31) (226) Issuances of debt (maturities greater than 90 days) 1,986 4,023 Payments on debt (maturities greater than 90 days) and finance leases (1,803) (1,048) Increase (decrease) in short-term debt, net 168 (720) Advances from unconsolidated affiliates 14 18 Proceeds from sales of noncontrolling interests 265 13 Distributions to noncontrolling interests (43) (53) Contributions from noncontrolling interests 97 6 Settlement of cross-currency swaps (99) — Other (43) (29) Net cash provided by financing activities 151 1,638 Effect of exchange rate changes on cash, cash equivalents and restricted cash 5 — Increase in cash, cash equivalents and restricted cash 241 1,955 Cash, cash equivalents and restricted cash, January 1 462 581 Cash, cash equivalents and restricted cash, March 31 $ 703 $ 2,536 SEMPRA ENERGY Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES AND INVESTMENTS (Dollars in millions) Three months ended March 31, 2023 2022 (unaudited) Earnings (Losses) Attributable to Common Shares SDG&E $ 258 $ 234 SoCalGas 360 334 Sempra Texas Utilities 83 162 Sempra Infrastructure 315 95 Parent and other (47) (213) Total $ 969 $ 612 Three months ended March 31, 2023 2022 (unaudited) Capital Expenditures and Investments SDG&E $ 624 $ 552 SoCalGas 458 468 Sempra Texas Utilities 85 85 Sempra Infrastructure 744 182 Parent and other 4 2 Total $ 1,915 $ 1,289 SEMPRA ENERGY Table E OTHER OPERATING STATISTICS Three months ended March 31, 2023 2022 (unaudited) UTILITIES SDG&E and SoCalGas Gas sales (Bcf) (1) 145 116 Transportation (Bcf) (1) 149 144 Total deliveries (Bcf) (1) 294 260 Total gas customer meters (thousands) 7,049 7,013 SDG&E Electric sales (millions of kWhs) (1) 1,596 2,266 Community Choice Aggregation and Direct Access (millions of kWhs) (2) 2,732 1,898 Total deliveries (millions of kWhs) (1) 4,328 4,164 Total electric customer meters (thousands) 1,507 1,498 Oncor (3) Total deliveries (millions of kWhs) 34,779 33,711 Total electric customer meters (thousands) 3,912 3,848 Ecogas Natural gas sales (Bcf) 1 1 Natural gas customer meters (thousands) 152 144 ENERGY-RELATED BUSINESSES Sempra Infrastructure Termoeléctrica de Mexicali (TdM) (millions of kWhs) 569 524 Wind and solar (millions of kWhs) (1) 812 732 (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 ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Three months ended March 31, 2023 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 1,653 $ 3,794 $ — $ 1,196 $ (83) $ 6,560 Cost of sales and other expenses (1,037) (3,061) (1) (355) 63 (4,391) Depreciation and amortization (262) (206) — (69) (2) (539) Other income (expense), net 28 (8) — 10 11 41 Income (loss) before interest and tax (1) 382 519 (1) 782 (11) 1,671 Net interest expense (117) (65) — (80) (80) (342) Income tax (expense) benefit (7) (94) — (330) 55 (376) Equity earnings — — 84 135 — 219 Earnings attributable to noncontrolling interests — — — (192) — (192) Preferred dividends — — — — (11) (11) Earnings (losses) attributable to common shares $ 258 $ 360 $ 83 $ 315 $ (47) $ 969 Three months ended March 31, 2022 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 1,445 $ 1,993 $ — $ 424 $ (42) $ 3,820 Cost of sales and other expenses (836) (1,290) (2) (279) 17 (2,390) Aliso Canyon litigation and regulatory matters — (92) — — — (92) Depreciation and amortization (239) (187) — (65) (2) (493) Other income (expense), net 34 34 — (16) (14) 38 Income (loss) before interest and tax (1) 404 458 (2) 64 (41) 883 Net interest expense (106) (40) — (6) (66) (218) Income tax expense (64) (84) — (91) (95) (334) Equity earnings, net — — 164 162 — 326 Earnings attributable to noncontrolling interests — — — (34) — (34) Preferred dividends — — — — (11) (11) Earnings (losses) attributable to common shares $ 234 $ 334 $ 162 $ 95 $ (213) $ 612 (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
SoCalGas Applauds California Air Resources Board's Advanced Clean Fleets Rule
On Friday, the California Air Resources Board (CARB) approved new rules for medium- and heavy-duty vehicles, called Advanced Clean Fleets, which require public and private fleets to begin transitioning those vehicles toward zero emissions starting in 2024 with a goal of being 100 percent zero-emissions vehicles by 2045, where feasible LOS ANGELES, May 2, 2023 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today issued the following statement to the media in response to the California Air Resources Board's (CARB) approval of the Advanced Clean Fleets rule: "As part of our ASPIRE 2045 Sustainability Strategy , SoCalGas has already converted over one-third of our over-the-road fleet to alternative fuel vehicles with aims to operate a zero-emissions fleet by 2035. SoCalGas is also pioneering hydrogen-powered fuel cell electric utility vehicles and battery electric vehicles with manufacturers like Ford and is committed to building out the infrastructure that would be needed to enable the transition to zero-emissions vehicles. " Our work planning Angeles Link , which could be the nation's largest green hydrogen pipeline and essential for decarbonizing heavy transportation in California, along with our dozens of clean fuels demonstration projects, would help pave the way for the state to achieve the goals set out in Advanced Clean Fleets and get us closer to building a cleaner California. We're ready to support the state and our transportation industry by working to build a clean fuels economy." 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 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," "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, issuances or revocations of permits 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 in which 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 partners or other third parties, including governmental and regulatory bodies; 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, such as the war in Ukraine; our ability to borrow money on favorable terms and meet our debt service obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or to 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 current and future 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, 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 and the risk of nonrecovery for stranded assets; our ability to incorporate new technologies into our business, including those designed to support governmental and private party energy and climate goals; 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, cause fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms, may be disputed or not covered by insurers, 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, such as those that have been imposed and that may be imposed in the future in connection with the war in Ukraine, 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 Recognized Among ‘America’s Best Employers for Diversity’
SAN DIEGO, April 27, 2023 /PRNewswire/ — Sempra (NYSE: SRE) (BMV: SRE) is one of ‘America’s Best Employers for Diversity’ according to Forbes, marking the fifth consecutive year the company earned a spot on the annual list. Notably, Sempra ranked 28 out of 500 companies on the list, higher than all other utility holding companies. “As we strive to foster a high-performance culture of belonging that celebrates our diversity and enables our employees to thrive, we are honored to again be recognized by Forbes as one of America's top workplaces for diversity,” said Mitch Mitchell senior vice president of diversity and community partnerships for Sempra. “Our success is fueled by the unique lived experiences and diverse contributions of the 20,000 employees from across our family of companies.” Championing People and Diversity The recognition comes as Sempra celebrates its 25 th anniversary, honoring the thousands of employees across its family of companies whose commitment to service and championing others is central to its high-performance culture and success. In 2022, women represented 34% of Sempra leadership and people of color made up 59% of the company’s U.S. workforce. Throughout the year, the company advanced opportunities to further promote diversity and inclusion among its employees through direct engagement, employee resource groups and enterprise-wide events covering topics such as allyship in action and mental health awareness. Sempra’s efforts to build its high-performance culture is captured in the expansion of employee resource groups (ERG) with 17 ERGs established across the enterprise to support the needs of the workforce, foster a stronger sense of belonging and cultivate a working environment of understanding and openness. Learn more about Sempra’s inclusive and high-performance culture in its 2021 Corporate Sustainability Report. Recognizing Leaders of Diversity Forbes’ annual list recognizes and commends U.S. companies that are leading in diversity practices. This year’s rankings were based on survey results from approximately 45,000 U.S. employees as well as an analysis of companies' diversity-related practices such as the presence of resource groups within the company, the transparency of diversity data, and the share of women in board and executive positions. 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 Twitter @Sempra. SOURCE Sempra
Energy trends uncovered
Energy infrastructure essential to energy transition a trend in DC talks with Chief Sustainability Officer, Lisa Larroque Alexander, & other energy experts
SoCalGas Partners on Project Seeking to Decarbonize Commercial, and Industrial Uses with Hydrogen and Hydrogen Blending
Project, in partnership with GTI Energy, the University of California, Irvine, and the Electric Power Research Institute, will examine costs, safety and emissions reductions LOS ANGELES, April 25, 2023 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) is collaborating with GTI Energy to study the use of hydrogen and hydrogen blending in hard-to-decarbonize commercial and industrial processes, continuing its efforts to help the company and California achieve net-zero aspirations. The aim of the project is to study the use of hydrogen in heavy equipment, blended with natural gas up to 100 percent hydrogen, with an emphasis on end-uses that cannot easily be electrified. The focus of the study will be on costs, safety, and emissions reductions when introducing hydrogen in commercial and industrial uses. GTI Energy will lead the effort in collaboration with Utilization Technology Development, NFP (UTD), the Electric Power Research Institute (EPRI), the University of California, Irvine (UCI), and the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). SoCalGas has awarded $752,000 to help fund the project, which is in addition to a $1.77 million grant approved by the California Energy Commission in July 2022. The study will survey large commercial and industrial users to understand which equipment has the highest potential for decarbonization with hydrogen blends, including industries such as steelmaking, glass, cement, aerospace, and agriculture. After identifying those uses, the project team will then test commercial and industrial equipment fuel blending up to 100 percent hydrogen. "One of California's biggest challenges in achieving net zero is finding ways to decarbonize heavy industries whose functions are difficult or impossible to electrify," said Neil Navin, chief clean fuels officer at SoCalGas. "This collaboration with GTI Energy will help us identify the most promising avenues to decarbonize and take important steps toward reaching net zero through clean fuels." The project will lean on GTI Energy's significant experience in the field of hydrogen applications across different sectors and aims to provide important outcomes to the industry for hydrogen implementation across multiple end-use sectors. "We're focused on providing options for SoCalGas's commercial and industrial customers to decarbonize their operations with H2-based fuels, with an eye towards safety, equity, and environmental impacts. Decarbonizing California's businesses and industry is no small task, and we're fortunate in this effort to build on strong partnerships with SoCalGas and other utilities, in addition to an excellent technical team—including EPRI, UC Irvine, and AHRI," said Kristine Wiley, vice president of the Hydrogen Technology Center at GTI Energy. Hydrogen is set to play a critical part in SoCalGas' – and California's – energy future, particularly in decarbonizing hard-to-electrify sectors such as heavy-duty transportation, power generation, and heavy industries. Toward that end, SoCalGas is working to develop Angeles Link, a proposed, dedicated clean renewable hydrogen pipeline system that could deliver clean, reliable, renewable energy to the Los Angeles region. In December, the California Public Utilities Commission (CPUC) approved SoCalGas' request to track costs for advancing the first phase of the project, which could be the nation's largest dedicated clean renewable hydrogen pipeline system and support significantly reducing greenhouse gas emissions from heavy-duty trucks, power generation, industrial processes, and other hard-to-electrify sectors of the Southern California economy. Angeles Link, the [H2] Innovation Experience, and more than a dozen hydrogen demonstration projects SoCalGas is currently pioneering, are all part of its ongoing efforts to help accelerate California's energy transition. For more information about SoCalGas's hydrogen innovation, visit https://www.socalgas.com/sustainability/hydrogen/. 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's 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 replace 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 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," "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, issuances or revocations of permits 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 in which 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 partners or other third parties, including governmental and regulatory bodies; 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, such as the war in Ukraine; our ability to borrow money on favorable terms and meet our debt service obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or to 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 current and future 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, 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 and the risk of nonrecovery for stranded assets; our ability to incorporate new technologies into our business, including those designed to support governmental and private party energy and climate goals; 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, cause fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms, may be disputed or not covered by insurers, 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, such as those that have been imposed and that may be imposed in the future in connection with the war in Ukraine, 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
SoCalGas' Climate Champions Grant Awards Additional $200,000 to Recipients to Further Climate Solutions
Five non-profit organizations receive an additional $40,000 each to continue research and development of local projects and programs that advance innovative climate solutions towards decarbonization, diversification, and digitalization for a clean energy future. LOS ANGELES, April 24, 2023 /PRNewswire/ -- Southern California Gas Company (SoCalGas) today announced that the SoCal Climate Champions Grant is awarding an additional $200,000 in grants to support research projects and programs that foster clean, safe, and innovative solutions to help achieve California's climate and clean energy goals, as part of the company's ASPIRE 2045 sustainability strategy. In 2021, ten nonprofits were each awarded $40,000 in grants for their efforts promoting climate solutions throughout Southern California. Five of these organizations have been selected in 2022 to receive an additional $40,000 each in a one-time second phase granting process. "We are always looking for new ways to support projects and programs that promote wellbeing in the communities we serve," says Jawaad Malik, chief sustainability and strategy officer at SoCalGas. "These outreach efforts highlight how our company's ASPIRE 2045 vision, together with our community partners, can lead to real, actionable solutions that help improve air quality and reduce our carbon footprint." One of the recipients of the second-phase grant is LA Compost's project, Bringing Community Level Composting Access to Los Angeles. The program develops community-based composting systems for food scrap collection, as well as compost education, creation, and uses. "Our community level-systems strive to keep the valuable resource of compost local, especially within Los Angeles neighborhoods most vulnerable to climate change," says Michael Martinez, Founder and Executive Director of LA Compost. "In 2022, our decentralized network in Los Angeles was able to divert nearly four million pounds of food and carbon-based organics from landfills, reduce an estimated 3,750 metric tons of CO 2 from entering the atmosphere, and repurpose an estimated 14.3 million gallons of water from food waste through compost production." The San Diego State University Research Foundation (SDSURF) is also making strides in sustainable agriculture through its Farms of the Future project. Led by Dr. Saeed Manshadi, the project has also been awarded a second-phase grant, with a primary focus on reducing the carbon intensity of agriculture in the Imperial Valley. Dr. Manshadi shared his enthusiasm for the project, stating, "We are thrilled with the progress we've made so far in advancing sustainable agriculture in the Imperial Valley. Our goal is to encourage at least 30% of farm owners to explore electrification within the first year, and we're delighted to have already exceeded that target. By presenting this road map, we hope to reduce carbon emissions by 30% and help improve air quality in agricultural activities related to transportation, irrigation, and water supply in the food production supply chain." Other second-phase grant recipients include The Ecology Center's Compost and Expansion and Education Initiative, a project that aims to inspire healthy change in the food system and strengthen the growing number of satellite and school farms they serve; the Cal Poly Pomona Philanthropic Foundation's Low-cost Energy Storage Using Repurposed Desalination Salt project, which aims to use desalination salt as a low cost solution to store excess intermittent renewable energy; and The Amigos De Los Rios' Emerald Necklace – Rio Hondo, San Gabriel River, & School Greening project that plants trees and native shrubs in critical areas along urban river corridors as well as schools. "Climate change is a global issue, but it is important that we develop local solutions that can be replicated throughout the state, supporting our under resourced communities most impacted by pollution and climate change," said Assemblymember Eduardo Garcia (D- Coachella). "SoCalGas' Climate Champions Grant will advance many of the great local projects and research taking place in southern and central California. Funding research projects like these have the potential to reach beyond just one neighborhood or city and could help lay the foundation for the climate solutions of tomorrow." Over the last two years, the SoCal Climate Champions Grant has awarded $600,000 in grants to support nonprofit organizations. The grant will be made available again this year with another $400,000 in funding. The application process for 2023 will be open from April 24 th to June 23 rd. Grant recipients will: Receive an award of up to $50,000 to fund new or on-going efforts that align with the Initiative. Gain recognition in a community of accomplished nonprofit leaders from diverse programs. Share their stories through the grant program. Be offered the aid of SoCalGas volunteers. Successful applicants to the SoCal Climate Champions Grant will demonstrate research, projects, or programs that aim to advance climate solutions that reduce, mitigate, or sequester greenhouse gas emissions and improve air quality, or drive clean energy or organic waste diversion solutions in the communities we serve. Since its inception in 2015, the SoCal Climate Champions Initiative, which is funded by Sempra shareholders, has awarded more than 150 grants totaling nearly $2.5 million. A complete list of the 2021-2022 grant recipients can be found here. Under the ASPIRE 2045 Sustainability Strategy, SoCalGas plans to invest $50 million into communities the company serves over five years, working to advance racial and gender diversity in the workplace, and take tangible steps towards a carbon neutral future. 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 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," "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, issuances or revocations of permits 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 in which 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 partners or other third parties, including governmental and regulatory bodies; 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, such as the war in Ukraine; our ability to borrow money on favorable terms and meet our debt service obligations, including due to (i) actions by credit rating agencies to downgrade our credit ratings or to 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 current and future 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, 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 and the risk of nonrecovery for stranded assets; our ability to incorporate new technologies into our business, including those designed to support governmental and private party energy and climate goals; 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, cause fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms, may be disputed or not covered by insurers, 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, such as those that have been imposed and that may be imposed in the future in connection with the war in Ukraine, 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
Employees celebrate Earth Month through service
Sempra family of companies, and hundreds of energy employees support Earth Month with sustainability events across California and Texas

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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).