Skip to main content

We use cookies, pixels, and similar tools (“cookies”), some provided by third parties, to operate, improve, and personalize content and ads on our and other sites, and to enable and optimize site functionality. We and these third-parties may monitor, record, and access your data, including IP address and other identifiers, for these and similar purposes. More info: Privacy Policy. By browsing the site, you agree to our TERMS & CONDITIONS and to the use of these cookies and the collection/disclosure of your information by us and third-parties.

Sempra
  • Investors
    • Overview
    • Investor news
    • Financials & filings
    • Corporate governance
      • Code of conduct
      • Political engagement & contributions
      • W9 tax forms
    • Stock information
    • Investor resources
  • Careers
    • Overview
    • Open positions
    • Benefits
  • Newsroom
    • Overview
    • Media contacts
    • Press releases
    • Spotlight articles
    • Email Alerts
  • SRE: ()
  • Our business
    • Overview
    • Mission & values
    • Recognition & awards
    • Reliability & resilience
    • Sustainability
      • Sustainable financing
      • Sustainability resource library
  • Who we serve
    • Overview
    • Texas
    • California
    • Community giving
  • Our team
    • Overview
    • Board of directors
    • Leadership team
    • Meet our CEO
Displaying results 346 - 360 of 1201
The answer is yes
Exporting liquefied natural gas, choosing hydrogen, and electrification with solar and wind are important to a sustainable future.
SoCalGas Breaks Ground on Mobilehome Park Utility Conversion Project in Indio
Program provides mobile home park residents with enhanced safety, reliability, and cost savings by replacing privately owned gas systems with direct utility service INDIO, Calif., Aug. 5, 2022 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the beginning of construction at Arabian Gardens Mobile Home Park in the City of Indio to provide safety and service upgrades through the Mobilehome Park Utility Conversion Program. The modernization program replaces aging, privately owned, master-metered systems with new utility-owned systems at qualified mobile home parks throughout California. In addition to enhanced safety and reliability, Arabian Gardens residents will be eligible to participate in a host of SoCalGas programs, including energy savings and customer assistance programs. Since the Mobilehome Park Utility Conversion Program started in 2014, SoCalGas has upgraded infrastructure and enhanced safety at more than 20,000 mobile homes in more than 287 mobile home communities throughout central and southern California. "We are pleased to help yet another mobile home park community and its residents through this program," said David Buczkowski, vice president of gas distribution at SoCalGas. "This program helps park residents, many of whom are working families and seniors, have access to safer, more reliable energy as well as various cost-saving customer assistance programs." The program covers costs for installing new utility service at each mobile home community including individual resident meters. Mobile home park residents with direct natural gas service will have advanced meters to check their natural gas usage. Access to this information helps customers manage their usage and save money. Another benefit of the program is owners of mobile home communities will no longer have to maintain privately-owned gas systems and instead can contact SoCalGas directly for service needs. Due to the program's pilot success, in 2020 the CPUC voted to establish the conversion effort as a 10-year, ongoing program, authorizing SoCalGas to upgrade up to half of the approximately 132,000 mobile homes in its service territory to direct utility service through 2030. SoCalGas plans to start construction on 43 mobile home parks this year. More information on the Mobilehome Park Utility Conversion Program can be found at socalgas.com/mobilehome. 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 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas 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 services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company
Sempra Reports Second-Quarter 2022 Earnings Results
SAN DIEGO, Aug. 4, 2022 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced second-quarter 2022 earnings of $559 million, or $1.77 per diluted share, compared to second-quarter 2021 earnings of $424 million, or $1.37 per diluted share. On an adjusted basis, the company's second-quarter 2022 earnings were $626 million or $1.98 per diluted share, compared to $504 million, or $1.63 per diluted share, in 2021. "At Sempra, we want to help ensure energy is increasingly abundant, cleaner and more affordable. We're executing against a plan that extends our capabilities to better serve the growing needs of customers here in North America and overseas," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. "Integral to the effort are our employees, whose relentless focus on safety, innovation and operational excellence allows us to meet the opportunity of this moment." Sempra's earnings for the first six months of 2022 were $1.171 billion, or $3.70 per diluted share, compared with earnings of $1.298 billion, or $4.24 per diluted share, in the first six months of 2021. Adjusted earnings for the first six months of 2022 were $1.550 billion, or $4.90 per diluted share, compared to $1.404 billion, or $4.58 per diluted share, in the first six months of 2021. 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 second quarter and first six months of 2022 and 2021. Three months ended Six months ended June 30, June 30, (Dollars and shares in millions, except EPS) 2022 2021 2022 2021 (Unaudited) GAAP Earnings $ 559 $ 424 $ 1,171 $ 1,298 Impacts Associated with Aliso Canyon Litigation 1 32 - 98 - Impact from Foreign Currency and Inflation on our Monetary Positions in Mexico and Associated Undesignated Derivatives 16 72 91 69 Net Unrealized Losses on Commodity Derivatives 19 58 70 87 Deferred Income Tax Expense Associated with the Change in our Indefinite Reinvestment Assertion Related to the Sale of NCI to ADIA - - 120 - Earnings from Investment in RBS Sempra Commodities LLP - (50) - (50) Adjusted Earnings 2 $ 626 $ 504 $ 1,550 $ 1,404 Diluted Weighted-Average Common Shares Outstanding 316 309 317 306 GAAP EPS $ 1.77 $ 1.37 $ 3.70 $ 4.24 Diluted Weighted-Average Common Shares Outstanding - Adjusted 316 309 317 311 Adjusted EPS 2,3 $ 1.98 $ 1.63 $ 4.90 $ 4.58 1. Related to property developer claims, four of which were settled in Q1-2022. 2. See Table A for information regarding non-GAAP financial measures and descriptions of adjustments. 3. For YTD-2021, preferred dividends of $19M are added back to adjusted earnings because of the dilutive effect of Series B mandatory convertible preferred stock. Sempra California Sempra California is continuing to operate and construct critical new infrastructure that promotes safety and reliability, while also integrating cleaner forms of energy. In May, San Diego Gas & Electric Co. (SDG&E) and Southern California Gas Co. (SoCalGas) each filed their 2024-2027 General Rate Cases (GRC) with the California Public Utilities Commission (CPUC). Based on a sustainability policy framework, the GRC filings propose critical infrastructure investments focused on safety, reliability and helping advance a cleaner energy future. In June, SDG&E announced it had received approval from the CPUC to build four microgrid facilities equipped with energy storage to help dispatch cleaner energy to the grid during peak demand. The projects are aimed at furthering climate resiliency with the ability to operate independently from or in parallel with the larger regional grid to help improve power continuity during grid outages and capacity shortfalls. Also in June, SoCalGas submitted its annual fugitive emissions report to the CPUC, reporting a significant achievement in reducing greenhouse gas emissions. From 2015 through 2021, SoCalGas reduced fugitive methane emissions by approximately 37%, significantly surpassing California's goal of a 20% reduction by 2025 and nearing the state's goal of a 40% reduction by 2030. The company's success comes from innovation in new detection technologies, including aerial methane mapping and drones to map and detect methane. Sempra Texas In Texas, high demand driven by premise growth, new high-voltage interconnections, and one of the fastest growing economies in the nation necessitates a reliable and resilient grid. Oncor Electric Delivery Company LLC (Oncor) is supporting the state's notable demographic growth by executing on its record capital plan, which is focused on critical new transmission and distribution (T&D) infrastructure. During the second quarter, Oncor received 90 new transmission interconnection requests, representing a 73% increase in new requests versus the second quarter last year, and placed approximately $239 million of transmission projects into service. The company has completed approximately 880 miles of T&D projects year-to-date with 480 miles of T&D projects completed in the second quarter. Additionally, the company connected approximately 35,000 premises in the first six months of 2022. Notably, in June, Oncor received interconnection requests for 110 new housing subdivisions, the most ever received in any one month. In May, Oncor filed its base rate review with the Public Utility Commission of Texas. The company expects any adjustments to rates to be effective by the end of the first quarter of 2023. Sempra Infrastructure The strength and diversity of Sempra Infrastructure's growth platform helped drive significant commercial momentum in the second quarter, attracting world-class investment and commercial partners for its liquefied natural gas (LNG) and net-zero projects. "There is an intersection of opportunity right now," said Justin Bird, CEO of Sempra Infrastructure. "It is expected that the United States will more than double its LNG export capacity by the end of the decade, while advancing the dual objectives of global energy security and decarbonization." In June, Sempra completed the sale of a 10% non-controlling interest in Sempra Infrastructure Partners for approximately $1.7 billion in cash to a subsidiary of Abu Dhabi Investment Authority (ADIA). Sempra now owns a 70% controlling stake in Sempra Infrastructure Partners, and KKR and ADIA own a 20% and 10% non-controlling interest, respectively. During the quarter, Sempra Infrastructure advanced its LNG development projects by signing a series of non-binding heads of agreements (HOAs) for approximately 12 million tonnes per annum (Mtpa) with the Polish Oil & Gas Company (PGNiG), RWE Supply & Trading, a subsidiary of RWE, and INEOS Energy Trading Ltd., a subsidiary of INEOS, culminating with an HOA with ConocoPhillips that supports the development of Phase 1 of the Port Arthur LNG project. Sempra Infrastructure is also supporting the growing integration of North American energy markets through its cross-border infrastructure, as well as investments in clean energy development. In May, Sempra Infrastructure signed a participation agreement with TotalEnergies, Mitsui & Co., Ltd. and Mitsubishi Corporation, to advance the Hackberry Carbon Sequestration project in Southwest Louisiana. As part of its business portfolio, Sempra Infrastructure is working on initiatives focused on sustainability and the global energy transition to advance its goal to lower the greenhouse gas emission intensity at its LNG and other facilities. Additionally, the company is working to provide decarbonization solutions to its customers in North America and in global energy markets. Earnings Guidance Sempra is updating its full-year 2022 GAAP earnings per common share (EPS) guidance range to $6.90 to $7.50. As a result of the company's strong execution and financial results in the first half of the year, Sempra is guiding to the high end of its full-year 2022 adjusted EPS guidance range of $8.10 to $8.70. Sempra also is affirming its full-year 2023 EPS guidance range of $8.60 to $9.20. 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 senior management of the company. Access is available by logging onto the company's website, sempra.com. For those unable to log on to the live webcast, the teleconference will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 1507557. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have 20,000 talented employees who deliver energy with purpose to nearly 40 million consumers. With more than $72 billion in total assets at the end of 2021, the San Diego-based company is the owner of one of the largest energy networks in North America helping some of the world's leading economies move to cleaner sources of energy. The company is helping to advance the global energy transition through electrification and decarbonization in the markets it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture focused on safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2022 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website 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 statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "contemplates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "target," "outlook," "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 the risks that we may be found liable for damages regardless of fault and that we may not be able to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, in rates from customers or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and 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 regulatory and governmental 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 partners or other third parties, including governmental and regulatory bodies; civil and criminal litigation, regulatory inquiries, investigations, arbitrations, property disputes and other proceedings, including those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; changes to laws and regulations, including certain of Mexico's laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the import, export, transport and storage of hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments, state-owned entities and our counterparties to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, laws, rules and disclosures, as well as related goals and actions of companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration of or increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our businesses; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for damages, fines and penalties, some of which may be disputed or not covered by insurers, may not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; inflationary and interest rate pressures, volatility in foreign currency exchange rates and commodity prices, our ability to effectively hedge these risks, and their impact, as applicable, on San Diego Gas & Electric Company's (SDG&E) and SoCalGas' cost of capital and the affordability of customer rates; the availability of electric power, natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic on capital projects, regulatory approvals and the execution of our operations; the impact at SDG&E on competitive customer rates and reliability due to growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Community Choice Aggregation and Direct Access, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; 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 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 Texas, Sempra Mexico, 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 Texas, Sempra Mexico, 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 June 30, Six months ended June 30, 2022 2021 2022 2021 (unaudited) REVENUES Utilities: Natural gas $ 1,704 $ 1,278 $ 4,024 $ 3,055 Electric 1,189 1,156 2,306 2,224 Energy-related businesses 654 307 1,037 721 Total revenues 3,547 2,741 7,367 6,000 EXPENSES AND OTHER INCOME Utilities: Cost of natural gas (528) (261) (1,330) (610) Cost of electric fuel and purchased power (251) (284) (456) (516) Energy-related businesses cost of sales (289) (119) (424) (228) Operation and maintenance (1,162) (1,024) (2,248) (2,025) Aliso Canyon litigation and regulatory matters (45) — (137) — Depreciation and amortization (501) (463) (994) (905) Franchise fees and other taxes (150) (138) (312) (291) Other (expense) income, net (1) 72 37 107 Interest income 15 15 40 34 Interest expense (271) (258) (514) (517) Income before income taxes and equity earnings 364 281 1,029 1,049 Income tax expense (80) (139) (414) (297) Equity earnings 375 313 701 631 Net income 659 455 1,316 1,383 Earnings attributable to noncontrolling interests (88) (10) (122) (43) Preferred dividends (11) (20) (22) (41) Preferred dividends of subsidiary (1) (1) (1) (1) Earnings attributable to common shares $ 559 $ 424 $ 1,171 $ 1,298 Basic earnings per common share (EPS): Earnings $ 1.78 $ 1.38 $ 3.71 $ 4.27 Weighted-average common shares outstanding 314,845 307,800 315,595 304,372 Diluted EPS: Earnings $ 1.77 $ 1.37 $ 3.70 $ 4.24 Weighted-average common shares outstanding 315,867 308,607 316,647 306,284 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 2022 and 2021 as follows: Three months ended June 30, 2022: $(32) million from impacts associated with Aliso Canyon natural gas storage facility litigation related to property developer claims at Southern California Gas Company (SoCalGas) $(16) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $(19) million net unrealized losses on commodity derivatives Three months ended June 30, 2021: $(72) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $(58) million net unrealized losses on commodity derivatives $50 million equity earnings from investment in RBS Sempra Commodities LLP, which represents a reduction to an estimate of our obligations to settle pending value added tax (VAT) matters and related legal costs at our equity method investment at Parent and other Six months ended June 30, 2022: $(98) million from impacts associated with Aliso Canyon natural gas storage facility litigation related to property developer claims, four out of five of which were settled in the first quarter of 2022, at SoCalGas $(91) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $(70) 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 NCI to Abu Dhabi Investment Authority (ADIA) Six months ended June 30, 2021: $(69) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $(87) million net unrealized losses on commodity derivatives $50 million equity earnings from investment in RBS Sempra Commodities LLP, which represents a reduction to an estimate of our obligations to settle pending VAT matters and related legal costs at our equity method investment at Parent and other 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 associated undesignated derivatives 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. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF ADJUSTED EARNINGS TO GAAP EARNINGS (Dollars in millions, except per share amounts; shares in thousands) Pretax amount Income tax (benefit) expense (1) Non- controlling interests Earnings Pretax amount Income tax expense (benefit) (1) Non- controlling interests Earnings Three months ended June 30, 2022 Three months ended June 30, 2021 Sempra GAAP Earnings $ 559 $ 424 Excluded items: Impacts associated with Aliso Canyon litigation $ 45 $ (13) $ — 32 $ — $ — $ — — Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives 4 14 (2) 16 2 83 (13) 72 Net unrealized losses on commodity derivatives 18 (5) 6 19 79 (22) 1 58 Earnings from investment in RBS Sempra Commodities LLP — — — — (50) — — (50) Sempra Adjusted Earnings $ 626 $ 504 Diluted EPS: Sempra GAAP Earnings $ 559 $ 424 Weighted-average common shares outstanding, diluted 315,867 308,607 Sempra GAAP EPS $ 1.77 $ 1.37 Sempra Adjusted Earnings $ 626 $ 504 Weighted-average common shares outstanding, diluted 315,867 308,607 Sempra Adjusted EPS $ 1.98 $ 1.63 Six months ended June 30, 2022 Six months ended June 30, 2021 Sempra GAAP Earnings $ 1,171 $ 1,298 Excluded items: Impacts associated with Aliso Canyon litigation $ 137 $ (39) $ — 98 $ — $ — $ — — Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives 29 84 (22) 91 32 41 (4) 69 Net unrealized losses on commodity derivatives 106 (25) (11) 70 125 (35) (3) 87 Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA — 120 — 120 — — — — Earnings from investment in RBS Sempra Commodities LLP — — — — (50) — — (50) Sempra Adjusted Earnings $ 1,550 $ 1,404 Diluted EPS: Sempra GAAP Earnings $ 1,171 $ 1,298 Weighted-average common shares outstanding, diluted 316,647 306,284 Sempra GAAP EPS $ 3.70 $ 4.24 Sempra Adjusted Earnings $ 1,550 $ 1,404 Add back dividends for dilutive series B preferred stock — 19 Sempra Adjusted Earnings for Adjusted EPS $ 1,550 $ 1,423 Weighted-average common shares outstanding, diluted – Adjusted (2) 316,647 310,541 Sempra Adjusted EPS $ 4.90 $ 4.58 (1) Except for adjustments that are solely income tax, income taxes on pretax amounts were primarily calculated based on applicable statutory tax rates. We did not record an income tax expense for the equity earnings from our investment in RBS Sempra Commodities LLP because, even though a portion of the liabilities may be deductible under United Kingdom tax law, it is not probable that the deduction will reduce United Kingdom taxes. (2) In the six months ended June 30, 2021, because the assumed conversion of the series B preferred stock is dilutive for Adjusted Earnings, 4,257 series B preferred stock shares are added back to the denominator used to calculate Adjusted EPS. SEMPRA ENERGY Table A (Continued) RECONCILIATION OF SEMPRA 2022 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2022 GAAP EPS GUIDANCE RANGE (Unaudited) Sempra 2022 Adjusted EPS Guidance Range of $8.10 to $8.70 excludes items (after the effects of income taxes and, if applicable, noncontrolling interests) as follows: $(98) million from impacts associated with Aliso Canyon natural gas storage facility litigation related to property developer claims, four out of five of which were settled in the first quarter of 2022, at SoCalGas $(91) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives in the six months ended June 30, 2022 $(70) million net unrealized losses on commodity derivatives in the six months ended June 30, 2022 $(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 NCI to ADIA Sempra 2022 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 associated undesignated derivatives 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 2022 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2022 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 2022 Adjusted EPS Guidance Range to Sempra 2022 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 2022 Sempra GAAP EPS Guidance Range $ 6.90 to $ 7.50 Excluded items: Impacts associated with Aliso Canyon litigation 0.31 0.31 Impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives 0.29 0.29 Net unrealized losses on commodity derivatives 0.22 0.22 Deferred income tax expense associated with the change in our indefinite reinvestment assertion related to the sale of NCI to ADIA 0.38 0.38 Sempra Adjusted EPS Guidance Range $ 8.10 to $ 8.70 Weighted-average common shares outstanding, diluted (millions) 317 SEMPRA ENERGY Table B CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in millions) June 30, 2022 December 31, 2021 (1) (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,931 $ 559 Restricted cash 103 19 Accounts receivable – trade, net 1,839 2,071 Accounts receivable – other, net 323 398 Due from unconsolidated affiliates 646 23 Income taxes receivable 73 79 Inventories 377 389 Prepaid expenses 173 260 Regulatory assets 145 271 Greenhouse gas allowances 98 97 Other current assets 194 209 Total current assets 5,902 4,375 Other assets: Restricted cash 59 3 Due from unconsolidated affiliates — 637 Regulatory assets 2,465 2,011 Insurance receivable for Aliso Canyon costs 344 360 Greenhouse gas allowances 643 422 Nuclear decommissioning trusts 863 1,012 Dedicated assets in support of certain benefit plans 498 567 Deferred income taxes 138 151 Right-of-use assets – operating leases 580 594 Investment in Oncor Holdings 13,301 12,947 Other investments 1,792 1,525 Goodwill 1,602 1,602 Other intangible assets 357 370 Wildfire fund 317 331 Other long-term assets 1,319 1,244 Total other assets 24,278 23,776 Property, plant and equipment, net 45,402 43,894 Total assets $ 75,582 $ 72,045 (1) Derived from audited financial statements. SEMPRA ENERGY Table B (Continued) CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Dollars in millions) June 30, 2022 December 31,  2021 (1) (unaudited) LIABILITIES AND EQUITY Current liabilities: Short-term debt $ 955 $ 3,471 Accounts payable – trade 1,604 1,671 Accounts payable – other 215 178 Dividends and interest payable 609 563 Accrued compensation and benefits 334 479 Regulatory liabilities 307 359 Current portion of long-term debt and finance leases 303 106 Reserve for Aliso Canyon costs 2,003 1,980 Greenhouse gas obligations 98 97 Other current liabilities 1,122 1,131 Total current liabilities 7,550 10,035 Long-term debt and finance leases 24,661 21,068 Deferred credits and other liabilities: Due to unconsolidated affiliates 282 287 Regulatory liabilities 3,295 3,402 Greenhouse gas obligations 392 225 Pension and other postretirement benefit plan obligations, net of plan assets 678 687 Deferred income taxes 4,212 3,477 Asset retirement obligations 3,467 3,375 Deferred credits and other 1,992 2,070 Total deferred credits and other liabilities 14,318 13,523 Equity: Sempra Energy shareholders' equity 26,841 25,981 Preferred stock of subsidiary 20 20 Other noncontrolling interests 2,192 1,418 Total equity 29,053 27,419 Total liabilities and equity $ 75,582 $ 72,045 (1) Derived from audited financial statements. SEMPRA ENERGY Table C CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in millions) Six months ended June 30, 2022 2021 (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 1,316 $ 1,383 Adjustments to reconcile net income to net cash provided by operating activities 949 747 Net change in working capital components (3) (63) Insurance receivable for Aliso Canyon costs 16 31 Distributions from investments 403 532 Changes in other noncurrent assets and liabilities, net (317) (375) Net cash provided by operating activities 2,364 2,255 CASH FLOWS FROM INVESTING ACTIVITIES Expenditures for property, plant and equipment (2,361) (2,424) Expenditures for investments and acquisitions (181) (165) Purchases of nuclear decommissioning trust assets (397) (542) Proceeds from sales of nuclear decommissioning trust assets 397 542 Advances to unconsolidated affiliates — (8) Distributions from investments — 4 Other 7 5 Net cash used in investing activities (2,535) (2,588) CASH FLOWS FROM FINANCING ACTIVITIES Common dividends paid (711) (634) Preferred dividends paid (22) (68) Issuances of common stock 3 5 Repurchases of common stock (476) (38) Issuances of debt (maturities greater than 90 days) 4,818 285 Payments on debt (maturities greater than 90 days) and finance leases (1,543) (1,432) (Decrease) increase in short-term debt, net (2,011) 1,584 Advances from unconsolidated affiliates 18 20 Proceeds from sale of noncontrolling interests, net 1,732 7 Purchases of noncontrolling interests — (10) Distributions to noncontrolling interests (106) — Contributions from noncontrolling interests 13 — Other (30) (1) Net cash provided by (used in) financing activities 1,685 (282) Effect of exchange rate changes on cash, cash equivalents and restricted cash (2) 1 Increase (decrease) in cash, cash equivalents and restricted cash 1,512 (614) Cash, cash equivalents and restricted cash, January 1 581 985 Cash, cash equivalents and restricted cash, June 30 $ 2,093 $ 371 SEMPRA ENERGY Table D SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES, INVESTMENTS AND ACQUISITIONS (Dollars in millions) Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (unaudited) Earnings (Losses) Attributable to Common Shares SDG&E $ 176 $ 186 $ 410 $ 398 SoCalGas 87 94 421 501 Sempra Texas Utilities 186 138 348 273 Sempra Infrastructure 183 53 278 255 Parent and other (73) (47) (286) (129) Total $ 559 $ 424 $ 1,171 $ 1,298 Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (unaudited) Capital Expenditures, Investments and Acquisitions SDG&E $ 538 $ 517 $ 1,090 $ 1,072 SoCalGas 463 477 931 936 Sempra Texas Utilities 86 50 171 100 Sempra Infrastructure 164 249 346 480 Parent and other 2 — 4 1 Total $ 1,253 $ 1,293 $ 2,542 $ 2,589 SEMPRA ENERGY Table E OTHER OPERATING STATISTICS Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (unaudited) UTILITIES SDG&E and SoCalGas Gas sales (Bcf) (1) 71 72 187 199 Transportation (Bcf) (1) 138 145 282 282 Total deliveries (Bcf) (1) 209 217 469 481 Total gas customer meters (thousands) 7,028 6,983 SDG&E Electric sales (millions of kWhs) (1) 1,698 2,834 3,964 6,123 Community Choice Aggregation and Direct Access (millions of kWhs) (2) 2,131 974 4,029 1,787 Total deliveries (millions of kWhs) (1) 3,829 3,808 7,993 7,910 Total electric customer meters (thousands) 1,495 1,487 Oncor (3) Total deliveries (millions of kWhs) 37,829 32,889 71,540 63,566 Total electric customer meters (thousands) 3,867 3,804 Ecogas Natural gas sales (Bcf) 1 1 2 2 Natural gas customer meters (thousands) 146 140 ENERGY-RELATED BUSINESSES Power generated and sold Sempra Infrastructure Termoeléctrica de Mexicali (TdM) (millions of kWhs) 725 826 1,249 1,671 Wind and solar (millions of kWhs) (1) (4) 927 769 1,659 1,312 (1) Include intercompany sales. (2) A number of jurisdictions in SDG&E's territory have implemented Community Choice Aggregation, including the City and County of San Diego in 2022. Additional jurisdictions are implementing or are considering implementing Community Choice Aggregation. (3) Includes 100% of the electric deliveries and customer meters of Oncor Electric Delivery Company LLC (Oncor), in which we hold an indirect 80.25% interest through our investment in Oncor Electric Delivery Holdings Company LLC. (4) Includes 50% of the total power generated and sold at the Energía Sierra Juárez (ESJ) wind power generation facility through March 19, 2021. As of March 19, 2021, ESJ became a wholly owned, consolidated subsidiary of IEnova. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Three months ended June 30, 2022 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 1,399 $ 1,501 $ — $ 689 $ (42) $ 3,547 Cost of sales and other expenses (846) (1,121) (1) (453) 41 (2,380) Aliso Canyon litigation and regulatory matters — (45) — — — (45) Depreciation and amortization (244) (188) — (67) (2) (501) Other income (expense), net 22 4 — 7 (34) (1) Income (loss) before interest and tax (1) 331 151 (1) 176 (37) 620 Net interest expense (113) (44) — (23) (76) (256) Income tax (expense) benefit (42) (19) — (70) 51 (80) Equity earnings — — 187 188 — 375 Earnings attributable to noncontrolling interests — — — (88) — (88) Preferred dividends — (1) — — (11) (12) Earnings (losses) attributable to common shares $ 176 $ 87 $ 186 $ 183 $ (73) $ 559 Three months ended June 30, 2021 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 1,318 $ 1,124 $ — $ 341 $ (42) $ 2,741 Cost of sales and other expenses (800) (799) (1) (256) 30 (1,826) Depreciation and amortization (220) (180) — (59) (4) (463) Other income (expense), net 22 (2) — 33 19 72 Income (loss) before interest and tax (1) 320 143 (1) 59 3 524 Net interest expense (101) (40) — (25) (77) (243) Income tax expense (33) (8) — (94) (4) (139) Equity earnings — — 139 124 50 313 (Earnings) losses attributable to noncontrolling interests — — — (11) 1 (10) Preferred dividends — (1) — — (20) (21) Earnings (losses) attributable to common shares $ 186 $ 94 $ 138 $ 53 $ (47) $ 424 (1) Management believes Income (Loss) Before Interest and Tax is a useful measurement of our segments' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations. SEMPRA ENERGY Table F (Unaudited) STATEMENTS OF OPERATIONS DATA BY SEGMENT (Dollars in millions) Six months ended June 30, 2022 SDG&E SoCalGas Sempra Texas Utilities Sempra Infrastructure Consolidating Adjustments, Parent & Other Total Revenues $ 2,844 $ 3,494 $ — $ 1,113 $ (84) $ 7,367 Cost of sales and other expenses (1,682) (2,411) (3) (732) 58 (4,770) Aliso Canyon litigation and regulatory matters — (137) — — — (137) Depreciation and amortization (483) (375) — (132) (4) (994) Other income (expense), net 56 38 — (9) (48) 37 Income (loss) before interest and tax (1) 735 609 (3) 240 (78) 1,503 Net interest expense (219) (84) — (29) (142) (474) Income tax expense (106) (103) — (161) (44) (414) Equity earnings — — 351 350 — 701 Earnings attributable to noncontrolling interests — — — (122) — (122) Preferred dividends — (1) — — (22) (23) Earnings (losses) attributable to common shares $ 410 $ 421 $ 348
Sempra shows its pride
Sempra celebrates LGBTQIA+ Pride in San Diego, marking 15 years of support for the community, drawing praise and participation from diverse energy employees.
SDG&E and Cajon Valley Union School District Flip the Switch on Region’s First Vehicle-to-Grid Project Featuring Local Electric School Buses Capable of Sending Power to the Grid
Today San Diego Gas & Electric announced that it has successfully deployed an innovative technology that enables eight electric school buses to put electricity back on the grid when needed such as on hot summer days. A collaborative effort between SDG&E, the Cajon Valley Union School District and locally based technology company Nuvve, this is the first vehicle-to-grid (V2G) project to become operational in Southern California, helping to advance clean air and climate goals while also bolstering grid reliability. This is also the first V2G project to come online in the nation, following the U.S. Department of Energy’s (DOE) vehicle-to-everything (V2X) initiative announcement in Los Angeles in April. SDG&E, which started on the project prior to the announcement, is a signatory to the department’s V2X memorandum of understanding (MOU). The agreement is designed to bring together resources from DOE National Labs, state and local governments, utilities, and private entities to unlock the potential of bi-directional charging to increase energy security, community resilience, and economic growth while supporting the nation’s electric system. As part of the five-year pilot project, SDG&E installed six 60kW bi-directional DC fast chargers at Cajon Valley’s bus yard in El Cajon. The pilot was celebrated at an event on Tuesday, July 26 with project partners and San Diego County District Two Supervisor Joel Anderson. “This pilot project is a great example of our region being at the forefront of testing and adopting innovative technologies to reduce greenhouse gas emissions and strengthen the electric grid,” SDG&E Vice President of Energy Innovation Miguel Romero said. “Electric fleets represent a vast untapped energy storage resource and hold immense potential to benefit our customers and community not just environmentally, but also financially and economically.” On average, cars are parked 95% of the time. California is home to 1.1 million EVs, the largest concentration of EVs in the nation. Starting in 2035, all new cars and passenger trucks sold in California are required to be zero-emissions. Many local agencies and local companies are working to transition to electric fleets under SDG&E’s Power Your Drive for Fleets program, which provides infrastructure support. In addition to Cajon Valley, SDG&E is also working with San Diego Unified and Ramona Unified School Districts on V2G projects. “Pilots like these are critical to advancing industry knowledge and commercialization of new technologies that help create jobs and build a clean energy future,” said Office of Technology Transitions Commercialization Executive Rima Oueid. “I am thrilled to see this project go live less than three months after the DOE launched our V2X initiative, validating the value of public-private partnership.” With the bi-directional chargers now in operation, Cajon Valley can participate in SDG&E’s new Emergency Load Reduction Program (ELRP), which pays business customers $2/kWh if they are able to export energy to the grid or reduce energy use during grid emergencies. “We jumped at the opportunity to be part of this pilot project because of its potential to help us build a healthier community and better serve our students,” said Assistant Superintendent Scott Buxbaum. “If we are able to reduce our energy and vehicle maintenance costs as a result of this project, it frees up more resources for our schools and students.” V2G technology works by allowing batteries onboard vehicles to charge up during the day when energy, particularly renewable energy such as solar is abundant. The batteries then discharge clean electricity back to the grid during peak hours or other periods of high demand. “School buses are an excellent use case for V2G,” said Nuvve Co-Founder, Chair and CEO Gregory Poilasne. “They hold larger batteries than standard vehicles and can spend peak solar hours parked and plugged into bi-directional chargers. Nuvve’s technology enables the grid to draw energy from a bus when it is needed most, yet still ensuring the bus has enough stored power to operate when needed.” This V2G project is part of SDG&E’s extensive portfolio of clean transportation and fleet electrification initiatives. To learn more about SDG&E’s Power Your Drive for Fleet programs, please visit sdge.com/fleet. SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing energy infrastructure; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter ( @SDGE), Instagram ( @SDGE) and Facebook. Cajon Valley Union School District focuses on the positivity of each student's unique strengths, interests, and values. Recently showcased during the National Safe School Reopening Summit, Cajon Valley has garnered national recognition as a leader in educational excellence and innovation. Serving over 60 square miles of San Diego's East County, Cajon Valley Union School District offers personalized education, with programs that develop students into happy kids, healthy relationships, on a path to gainful employment, making El Cajon the best place to live, work, play and raise a family. Visit our website at www.cajonvalley.net. Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification of the planet, beginning with transportation, through its intelligent energy platform. Combining the world’s most advanced vehicle-to-grid (V2G) technology and an ecosystem of electrification partners, Nuvve dynamically manages power among electric vehicle (EV) batteries and the grid to deliver new value to EV owners, accelerate the adoption of EVs, and support the world’s transition to clean energy. By transforming EVs into mobile energy storage assets and networking battery capacity to support shifting energy needs, Nuvve is making the grid more resilient, enhancing sustainable transportation, and supporting energy equity in an electrified world. Since its founding in 2010, Nuvve has successfully deployed V2G on five continents and offers turnkey electrification solutions for fleets of all types. Nuvve is headquartered in San Diego, Calif. and can be found online at nuvve.com. Nuvve and associated logos are among the trademarks of Nuvve and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners. Nuvve Forward-Looking Statements The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Nuvve and Nuvve’s strategy, future operations, estimated and projected financial performance, prospects, plans and objectives are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Nuvve disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. In addition, Nuvve cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) risks related to the rollout of Nuvve’s business and the timing of expected business milestones; (ii) Nuvve’s dependence on widespread acceptance and adoption of electric vehicles and increased installation of charging stations; (iii) Nuvve’s ability to maintain effective internal controls over financial reporting (iv) Nuvve’s current dependence on sales of charging stations for most of its revenues; (v) overall demand for electric vehicle charging and the potential for reduced demand if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of electric vehicles or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; (vi) potential adverse effects on Nuvve’s backlog, revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by Nuvve; (vii) the effects of competition on Nuvve’s future business; (viii) risks related to Nuvve’s dependence on its intellectual property and the risk that Nuvve’s technology could have undetected defects or errors; (ix) the risk that we conduct a portion of our operations through a joint venture exposes us to risks and uncertainties, many of which are outside of our control; (x) that our joint venture with Levo Mobility LLC may fail to generate the expected financial results, and the return may be insufficient to justify our investment of effort and/or funds; (xi) changes in applicable laws or regulations; (xii) the COVID-19 pandemic and its effect directly on Nuvve and the economy generally; (xiii) risks related to disruption of management time from ongoing business operations due to our joint ventures; (xiv) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (xv) the possibility that Nuvve may be adversely affected by 3 other economic, business, and/or competitive factors, including increased inflation and interest rates, and the Russian invasion of Ukraine; and (xvi) risks related to the benefits expected from the $1.2 trillion dollar infrastructure bill passed by the U.S. House of Representatives (H.R. 3684). Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the Annual Report on Form 10-K filed by Nuvve with the Securities and Exchange Commission (SEC) on March 31, 2022, and in the other reports that Nuvve has, and will file from time to time with the SEC. Nuvve’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Sempra Infrastructure and Entergy Texas to Advance Renewable Energy and Supply Resiliency
Companies sign MOU for cooperation on the development of renewable energy resources to supply Sempra Infrastructure facilities HOUSTON, July 26, 2022 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), and Entergy Texas, Inc. (NYSE: ETI) today announced they have entered into a memorandum of understanding (MOU) to develop options designed to accelerate the deployment of new renewable energy generation resources and to increase the resiliency of power supply in Entergy Texas' Southeast Texas service area, where Sempra Infrastructure's facilities are under development. "We look forward to working collaboratively with Entergy Texas to achieve both of our companies' sustainability goals," said Martin Hupka, president of LNG and Net-zero Solutions for Sempra Infrastructure. "Sempra Infrastructure has greenhouse gas reduction goals for our facilities through the utilization of lower-carbon technologies, including electrification of key processes, carbon dioxide sequestration and the use of cost-effective renewable energy, and we are excited about the opportunity to jointly develop a renewable electricity plan that could provide an efficient, resilient and economic path to achieve our goals." The referenced MOU is non-binding and sets forth a framework for Entergy Texas and Sempra Infrastructure to collaborate on developing a renewable electricity plan, including an implementation schedule for renewable energy procurement that would supply Sempra Infrastructure affiliated facilities in the state, subject to approval by the Public Utility Commission of Texas. Sempra Infrastructure is developing the Port Arthur LNG project in Jefferson County, Texas. Phase 1 of the Port Arthur LNG project is permitted and expected to include two natural gas liquefaction trains and LNG storage tanks, as well as associated facilities capable of producing, under optimal conditions, up to approximately 13.5 Mtpa of LNG. A similarly sized Phase 2 project is also under active marketing and development. Additionally, Sempra Infrastructure is developing the proposed Port Arthur Pipeline Louisiana Connector, which would transport and provide natural gas to the proposed Port Arthur LNG project and exploring additional opportunities to co-locate lower-carbon hydrogen production and storage at or near its other facilities. "We look forward to partnering with Sempra Infrastructure to help reduce their emissions through clean electrification and integration of renewable energy into their operations," said Eliecer "Eli" Viamontes, president and CEO of Entergy Texas. "We seek to be a strategic partner with our customers and communities to help meet their sustainability goals while increasing the reliability and resiliency of our system." Entergy Texas plans to invest over $2.5 billion by the end of 2024 to build a cleaner, more resilient and sustainable energy future for Southeast Texas. Last year, Entergy Texas filed a request for approval of the Orange County Advanced Power Station, a 1,215-megawatt, dual-fuel combined cycle power facility that will have the capability to use a combination of natural gas and hydrogen. Electric generation using hydrogen as the fuel source produces zero carbon emissions. Entergy Texas also has entered into a 20-year power purchase agreement with Umbriel Solar for 150 megawatts of solar. The facility will be in Polk County, Texas and is expected to be operational beginning in 2024. Entergy Texas is evaluating additional solar resources that would provide economical, clean energy for customers, with plans to reach over 500 megawatts by 2025 and more by 2030. These resources will increase the diversity of Entergy Texas' power generation portfolio. This is the second MOU Sempra Infrastructure has signed with energy providers along North America's Gulf Coast to advance the integration of renewable energy into its projects. Earlier this year, the company signed an MOU with Entergy Louisiana to collaborate on developing additional options for renewable energy procurement for Sempra Infrastructure affiliated facilities in Louisiana. The development of Sempra Infrastructure's projects in Texas and Louisiana is subject to a number of risks and uncertainties, including reaching definitive customer, partnership, construction and other agreements, securing all necessary permits, obtaining financing and incentives, and reaching a final investment decision. About Sempra Infrastructure Sempra Infrastructure delivers energy for a better world. Through the combined strength of its assets in North America, the company is dedicated to enabling the energy transition and beyond. With a continued focus on sustainability, innovation, world-class safety, championing people, resilient operations and social responsibility, its more than 2,000 employees develop, build and operate clean power, energy networks and LNG and net-zero solutions, that are expected to play a crucial role in the energy systems of the future. For more information about Sempra Infrastructure, please visit www.SempraInfrastructure.com and Twitter. About Entergy Texas Entergy Texas, Inc. provides electricity to more than 486,000 customers in 27 counties. Entergy Texas is a subsidiary of Entergy Corporation, a Fortune 500 company headquartered in New Orleans. Entergy powers life for 3 million customers through its operating companies across Arkansas, Louisiana, Mississippi and Texas. Entergy is creating a cleaner, more resilient energy future for everyone with our diverse power generation portfolio, including increasingly carbon-free energy sources. With roots in the Gulf South region for more than a century, Entergy is a recognized leader in corporate citizenship, delivering more than $100 million in economic benefits to local communities through philanthropy and advocacy efforts annually over the last several years. Our approximately 12,500 employees are dedicated to powering life today and for future generations. 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 in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "opportunity," "target," "outlook," "maintain," "continue," "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 described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances or revocations of permits and other authorizations, and other actions by (i) the U.S. Department of Energy, Comisión Reguladora de Energía, U.S. Federal Energy Regulatory Commission, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of partners or other third parties, including governmental entities and regulatory bodies; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, arbitrations, and property disputes; changes to laws, including changes to certain of Mexico's laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the ability to import, export, transport and store hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments and state-owned entities to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, as well as related goals set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our business; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and the execution of our operations; volatility in foreign currency exchange, inflation and interest rates and commodity prices, including inflationary pressures in the U.S., and our ability to effectively hedge these risks; 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 current or potential counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 is not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and neither Sempra Infrastructure nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra North American Infrastructure
Sempra CEO shares a positive outlook for American energy
Since debuting on the New York Stock Exchange nearly 25 years ago, Sempra has demonstrated the ability to deliver long-term sustainable value to shareholders through strategic energy infrastructure investments. On July 20, Jeffrey W. Martin, Sempra’s chairman and chief executive officer, visited the floor of the stock exchange as a special guest on CNBC to celebrate the debut of Mad Money’s new studio and to discuss an evolving set of investment opportunities in the energy space. Jim Cramer, host of Mad Money, and Martin discussed the important role of U.S. energy companies in supporting future economic growth, among other topics. They also talked about the expected need to more than double domestic exports of liquefied natural gas (LNG) by the end of the decade. The build-out of new LNG facilities is critical to assisting America’s trading partners in Europe and Asia as they look to improve their energy security and transition to lower carbon energy sources. “Over time, we think the energy grid will expand and benefit from innovation and new technologies,” said Martin. “At the end of the day, it is all about competition and that is one of the reasons we are so bullish on the U.S. We have the most skilled workforce in the world and combined with the depth of our capital markets and commitment to innovation, we envision America continuing to extend its leadership position in the world.” In part, future economic growth is expected to come from the continued integration of the U.S. market with the economies of Canada and Mexico. “There is an intersection of opportunity right now where there will be a reshoring of industries from Asia back to North America,” said Martin. This translates into significant economic opportunity for the U.S., Canada and Mexico. Martin further discussed the strong growth potential in the company’s core utility platforms. “California is the fifth largest economy in the world, Texas is the ninth,” said Martin. “These states are also the biggest energy markets in the U.S. and Sempra has been fortunate to build leading utility franchises in both markets with the goal of ensuring energy is more abundant, increasingly clean and — just as importantly — affordable.” 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 in any forward-looking statements. 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 other factors. In this article, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "opportunity," "target," "outlook," "maintain," "continue," "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 described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, in rates from customers or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and 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 regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of partners or other third parties, including governmental entities and regulatory bodies; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, arbitrations, and property disputes, including those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; changes to laws, including changes to certain of Mexico's laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the ability to import, export, transport and store hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments and state-owned entities to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, as well as related goals set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration of or increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our business; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and the execution of our operations; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Community Choice Aggregation and Direct Access, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices, including inflationary pressures in the U.S., and our ability to effectively hedge these risks and with respect to inflation and interest rates, the impact on SDG&E's and SoCalGas' cost of capital and the affordability of customer rates; 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 current or potential counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 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 Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.
CFE and Sempra Infrastructure Expand Agreements for the Development of Energy Infrastructure in Mexico
HOUSTON and MEXICO CITY, July 21, 2022 /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), and Mexico's Federal Electricity Commission (Comisión Federal de Electricidad, CFE), announced several agreements to advance the joint development of critical energy infrastructure projects in Mexico, including the rerouting of the Guaymas- El Oro pipeline in Sonora, the proposed Vista Pacífico LNG project in Topolobampo, Sinaloa, and the potential development of a liquefied natural gas (LNG) terminal in Salina Cruz, Oaxaca. These new agreements establish the framework for a joint venture between the companies to ultimately enable the restoration of service provided by the Guaymas- El Oro pipeline. These agreements also outline the path forward for the Vista Pacífico LNG terminal, including the definition of the project's configuration to advance engineering and permitting efforts. In addition, the companies are expanding the memorandum of understanding (MOU) signed earlier this year to jointly explore the potential development of an LNG terminal in Salina Cruz, Oaxaca. This new opportunity will support the Government of Mexico's Interoceanic Corridor in the Isthmus of Tehuantepec project, which is intended to promote economic growth and development of Mexico's South-Southeast region. These development projects would allow CFE to potentially optimize the use of existing natural gas pipeline systems, provide additional sources of LNG supply for isolated markets in Mexico and continue to expand LNG supplies to the global market. The agreements reflect Sempra Infrastructure and CFE's commitment to continue advancing energy infrastructure projects that enhance the region's energy security, promote North America's energy integration, and foster economic growth and social wellbeing in the region. The agreements for the development of the Vista Pacifico LNG and the proposed LNG project in Salina Cruz are preliminary and non-binding. These development projects, together with the rerouting of the Guaymas- El Oro pipeline, remain subject to a number of commitments to be satisfied, including, as applicable, feasibility studies, reaching definitive customer, construction and partnership agreements, securing all necessary permits, obtaining financing and incentives, receiving respective board approval, and reaching a final investment decision. About Sempra Infrastructure Sempra Infrastructure delivers energy for a better world. Through the combined strength of its assets in North America, the company is dedicated to enabling the energy transition and beyond. With a continued focus on sustainability, innovation, world-class safety, championing people, resilient operations and social responsibility, its more than 2,000 employees develop, build and operate clean power, energy networks and LNG and net-zero solutions, that are expected to play a crucial role in the energy systems of the future. For more information about Sempra Infrastructure, please visit www.SempraInfrastructure.com and Twitter. About CFE The Federal Electricity Commission (CFE) is a productive company of the Mexican State, exclusively owned by the federal government, which supplies energy inputs and goods required for the productive and social development of the country in an efficient, sustainable, economic and inclusive manner, through a policy that prioritizes energy security and energy sovereignty, and that strengthens the public electricity service, a fundamental service for the development of Mexico, which, as a public company, has a position capable of influencing economic activity, at the same time as provides the goods and services for which it was created. For more information about the CFE, please visit https://www.cfe.mx/ 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 in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "opportunity," "target," "outlook," "maintain," "continue," "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 described in any forward-looking statements include risks and uncertainties relating to: decisions, investigations, regulations, issuances or revocations of permits and other authorizations, and other actions by (i) the U.S. Department of Energy, Comisión Reguladora de Energía, U.S. Federal Energy Regulatory Commission, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of partners or other third parties, including governmental entities and regulatory bodies; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, arbitrations, and property disputes; changes to laws, including changes to certain of Mexico's laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the ability to import, export, transport and store hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments and state-owned entities to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, as well as related goals set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our business; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and the execution of our operations; volatility in foreign currency exchange, inflation and interest rates and commodity prices, including inflationary pressures in the U.S., and our ability to effectively hedge these risks; 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 current or potential counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 is not the same company as San Diego Gas & Electric Company or Southern California Gas Company, and neither Sempra Infrastructure nor any of its subsidiaries is regulated by the California Public Utilities Commission. SOURCE Sempra North American Infrastructure
SoCalGas Announces the Commissioning of Carbon-Negative Waste-to-Energy Technology at Los Angeles Facility
Kore' s modular system diverts organic waste from California landfills and converts it into carbon negative hydrogen and renewable natural gas (RNG) LOS ANGELES, July 20, 2022 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced that Kore Infrastructure has successfully begun testing and demonstrating its carbon-negative, waste-to-energy modular system at the utility's Los Angeles facility. The innovative technology is designed to divert organic waste from California landfills and convert it into carbon-negative hydrogen and renewable natural gas (RNG). These clean fuels could be used to reduce greenhouse gas emissions from industrial processes and hard-to-electrify sectors, including heavy-duty transportation. SoCalGas is already demonstrating how renewable hydrogen made from RNG could fuel a public transportation fleet. Testing of the Kore Infrastructure technology can provide key insights into efficiency and operating costs, as well as determining the cost-effectiveness of its deployment at scale. SoCalGas contributed $1.5 million to the demonstration project, which has also received funding from the South Coast Air Quality Management District (South Coast AQMD). Kore's modular system uses a proprietary pyrolysis process, which heats organic waste under high temperatures in a zero-oxygen environment, converting the waste to a blend of gases that could be converted to carbon-negative hydrogen or RNG, along with a solid carbon char that can be used to enhance soil quality or help decarbonize cement and steel production. Kore Infrastructure's process is designed to meet South Coast AQMD's ultra-low NOx and particulate emissions standards. "This is the type of novel approach that we need to see more of that uses sustainable processes," said Ben J. Benoit, Chair of the South Coast AQMD Governing Board. "Not only will it divert material from landfills, but the process will create clean energy sources that can be used in fuel cell vehicles and other clean-air technologies." "In California, transportation causes approximately 40 percent of greenhouse gas emissions," said Cornelius Shields, CEO and founder of Kore Infrastructure. "We're collaborating with waste, energy, and transportation sector leaders to provide a Made-in-America, carbon-negative energy solution. Our UltraGreen™ hydrogen will be the fuel of the future for light-duty vehicles, heavy-duty trucks, and buses, ensuring our supply chain is emissions-free, sustainable, and affordable." "SoCalGas will continue to support companies developing innovative technologies to help achieve carbon neutrality," said Neil Navin, vice president of clean energy innovations for SoCalGas. "The production of carbon-negative RNG and hydrogen could help provide energy security and decarbonize California in our energy transition." Kore plans to demonstrate the production of 99.999% pure hydrogen that would be suitable for fuel cell electric cars, trucks, buses, and trains by the third quarter of 2022. The demonstration facility has the potential to process up to 24 tons per day of organic feedstock and produce up to one metric ton of carbon negative, UltraGreen hydrogen™ per day, enough hydrogen for over 1,400 fuel cell electric cars. This demonstration project could also help California cut methane emissions from landfills under CA Senate Bill 1383 by converting organic waste into carbon-negative renewable fuel. SoCalGas research has shown that clean fuels like hydrogen and RNG can deliver the most affordable, resilient, and technologically proven path to full carbon neutrality. SoCalGas has more than 10 active hydrogen pilot projects. Last year, SoCalGas submitted several research and development initiatives to the U.S. Department of Energy's (DOE) Earthshot Hydrogen Program's Request for Information (RFI), which is designed to accelerate and enable low-cost clean hydrogen, create jobs, and facilitate a net-zero carbon emissions economy by 2050. Last year, SoCalGas announced its aspiration to achieve net zero greenhouse gas emissions in its operations and the energy it delivers by 2045 and earlier this year released its ASPIRE 2045 Sustainability Strategy to help reach that goal. To learn more about Kore Infrastructure's technology and operations, please visit koreinfrastructure.com. 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 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas 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 dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. About Kore Infrastructure Since its founding in 2008, Kore has pursued a singular mission: to provide strategic solutions for a carbon-negative, zero waste future. Its proprietary, closed-loop technology accomplishes something that has never been done at scale: converting organic waste into 100% renewable natural gas, UltraGreen hydrogen™, biogas, and biocarbon (a valuable soil amendment and coal substitute), thereby reducing the need for landfills and incinerators and removing CO2 emissions from the atmosphere for good. Kore's modular conversion technology is a game-changer for a wide variety of companies seeking to balance planet and profit to accelerate the energy transition. With a growing roster of interested clients, from environmental service providers to hydrogen retailers and fuel cell electric car and truck manufacturers, Kore is poised to create unprecedented decarbonization potential for waste generators and renewable energy users alike. Learn more at: koreinfrastructure.com or connect with Kore on Twitter (@Kore_Infra), Instagram (@kore_infrastructure), and Linkedin. 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 in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "opportunity," "target," "outlook," "maintain," "continue," "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 described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, in rates from customers or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and 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 regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of partners or other third parties, including governmental entities and regulatory bodies; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, arbitrations, and property disputes, including those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; changes to laws, including changes to certain of Mexico's laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the ability to import, export, transport and store hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments and state-owned entities to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, as well as related goals set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration of or increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our business; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and the execution of our operations; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Community Choice Aggregation and Direct Access, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices, including inflationary pressures in the U.S., and our ability to effectively hedge these risks and with respect to inflation and interest rates, the impact on SDG&E's and SoCalGas' cost of capital and the affordability of customer rates; 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 current or potential counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 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 Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Southern California Gas Company
Safety in numbers
Sempra, and 20K energy employees building energy networks with safety at forefront with 89M hours of safe work on LNG, earning award from National Safety Council
Sempra Announces Partnership Framework with ConocoPhillips
Provides comprehensive framework to develop Port Arthur LNG Advances broad collaboration on the development of ECA LNG Phase 2 Provides for cooperation on associated carbon sequestration and low-carbon hydrogen opportunities SAN DIEGO, July 14, 2022 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) today announced that its subsidiary, Sempra Infrastructure, and ConocoPhillips (NYSE: COP) have entered into a heads of agreement (HOA) to develop Sempra Infrastructure's Port Arthur LNG project and jointly participate in other related energy infrastructure in Southeast Texas and the Pacific Coast of Mexico. "At Sempra, we believe bold new partnerships will be central to solving the world's energy security and decarbonization challenges," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. "That is why we are excited to announce this proposed partnership with ConocoPhillips, a leading global energy producer that also shares our vision of responsibly developing and delivering cleaner energy resources." "The decision to enter into this agreement with Sempra provides us with a ground-floor opportunity to participate in premier LNG developments, reinforcing our commitment to helping solve the world's energy supply needs as we transition to a lower carbon future," said Ryan Lance, chairman and chief executive officer of ConocoPhillips. "Sempra brings a long history of successful LNG project development, and we look forward to working together to provide reliable LNG to support the energy transition and strengthen U.S. and global energy security." Today's announcement marks an important milestone with the substantial completion of the marketing phase of Phase 1 of the Port Arthur LNG project. The referenced HOA anticipates the negotiation of a definitive agreement for a 20-year liquefied natural gas (LNG) tolling arrangement for 5 million tons per annum (Mtpa) at Phase 1 of the Port Arthur LNG project under development in Jefferson County, Texas. The HOA also contemplates a 30% equity investment in Phase 1 of Port Arthur LNG by ConocoPhillips and the potential for ConocoPhillips to supply additional natural gas to the proposed facility, including responsibly sourced natural gas, for the project's other LNG sales. In addition to the provisions related to Phase 1 of the project, ConocoPhillips would have the option to acquire certain LNG offtake and equity ownership from future developments of the Port Arthur LNG site, which may include additional LNG trains as well as low-carbon hydrogen infrastructure. Sempra Infrastructure would also have the opportunity to participate in carbon capture and sequestration projects developed by ConocoPhillips in Texas or Louisiana in connection with the Port Arthur LNG project. Phase 1 of the Port Arthur LNG project is permitted. The project is expected to include two natural gas liquefaction trains and LNG storage tanks, as well as associated facilities capable of producing, under optimal conditions, up to approximately 13.5 Mtpa of LNG. Sempra Infrastructure and Bechtel are working on updating the terms of the project's fixed-price engineering, procurement and construction contract that was previously announced in 2020. A similarly sized Phase 2 project is also under active marketing and development. Additionally, the HOA provides for collaboration between the two companies for LNG offtake, natural gas supply and equity investment for Phase 2 of the ECA LNG export development project in Baja California, Mexico, including up to one-third of the exported LNG volumes. The ECA LNG Phase 2 liquefaction export project is in early-stage development by Sempra Infrastructure. ECA LNG Phase 1 is currently under construction with first production of LNG by the 3.25-Mtpa facility expected by the end of 2024. The referenced HOA is a preliminary, non-binding arrangement, and the development of Sempra Infrastructure's LNG projects remains subject to a number of risks and uncertainties, including reaching definitive agreements, securing all necessary permits, signing engineering and construction contracts, obtaining financing and incentives and reaching a final investment decision for each project. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have 20,000 talented employees who deliver energy with purpose to nearly 40 million consumers. With more than $72 billion in total assets at the end of 2021, the San Diego-based company is the owner of one of the largest energy networks in North America helping some of the world's leading economies move to cleaner sources of energy. The company is helping to advance the global energy transition through electrification and decarbonization in the markets it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture focused on safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2022 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at sempra.com and on Twitter @Sempra. About Sempra Infrastructure Sempra Infrastructure delivers energy for a better world. Through the combined strength of its assets in North America, the company is dedicated to enabling the energy transition and beyond. With a continued focus on sustainability, innovation, world-class safety, championing people, resilient operations and social responsibility, its more than 2,000 employees develop, build and operate clean power, energy networks and LNG and net-zero solutions, that are expected to play a crucial role in the energy systems of the future. For more information about Sempra Infrastructure, please visit Sempra Infrastructure's website at SempraInfrastructure.com and on Twitter @SempraInfra. 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 in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors. In this press release, forward-looking statements can be identified by words such as "believes," "expects," "intends," "anticipates," "plans," "estimates," "projects," "forecasts," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "under construction," "in development," "opportunity," "target," "outlook," "maintain," "continue," "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 described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, in rates from customers or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and 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 regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of partners or other third parties, including governmental entities and regulatory bodies; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, arbitrations, and property disputes, including those related to the natural gas leak at Southern California Gas Company's (SoCalGas) Aliso Canyon natural gas storage facility; changes to laws, including changes to certain of Mexico's laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the ability to import, export, transport and store hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments and state-owned entities to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, as well as related goals set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration of or increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our business; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and the execution of our operations; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Community Choice Aggregation and Direct Access, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices, including inflationary pressures in the U.S., and our ability to effectively hedge these risks and with respect to inflation and interest rates, the impact on SDG&E's and SoCalGas' cost of capital and the affordability of customer rates; 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 current or potential counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra 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 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 Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC. SOURCE Sempra
Sempra to Report Second-Quarter 2022 Earnings August 4
SAN DIEGO, July 13, 2022 /PRNewswire/ -- Sempra (NYSE: SRE) (BMV: SRE) plans to release its second-quarter 2022 earnings by 7 a.m. ET, Thursday, August 4. Sempra executives will conduct a conference call at 12 p.m. ET, Thursday, August 4. Investors, media, analysts and the public may listen to a live webcast of the conference call on the company's website, sempra.com, by clicking on the appropriate audio link. Prior to the conference call, a slide presentation detailing the earnings results also will be posted by 7 a.m. ET, Thursday, August 4, on Sempra's website. For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 1507557, or it can be accessed on the company's website. About Sempra Sempra's mission is to be North America's premier energy infrastructure company. The Sempra family of companies have 20,000 talented employees who deliver energy with purpose to nearly 40 million consumers. With more than $72 billion in total assets at the end of 2021, the San Diego-based company is the owner of one of the largest energy networks in North America helping some of the world's leading economies move to cleaner sources of energy. The company is helping to advance the global energy transition through electrification and decarbonization in the markets it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture focused on safety, workforce development and training, and diversity and inclusion. Sempra is the only North American utility sector company included on the Dow Jones Sustainability World Index and was also named one of the "World's Most Admired Companies" for 2022 by Fortune Magazine. For additional information about Sempra, please visit Sempra's website at sempra.com and on Twitter @Sempra. SOURCE Sempra
New Eligibility Guidelines Open SoCalGas Energy Savings Assistance Program to More Customers
Recently enacted California law increases customer access to no-cost energy-saving home improvements which support SoCalGas' efforts to lead the transition to a clean energy system LOS ANGELES, July 6, 2022 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) announced that as of July 1, 2022, more customers will now be eligible for no-cost energy-saving home improvements through the Energy Savings Assistance Program. The new guidelines expand eligibility criteria for customers whose income is up to 250% of federal poverty guidelines, compared to the previous criteria of up to 200%. A family of four that earns up to $69,375, will now be eligible for no-cost energy efficiency upgrades. The previous income eligibility guidelines were up to $55,500 for a family of four. The ESA program provides attic insulation, furnace repair or replacement, clothes washer, water heater repair or replacement, water heater blankets, door weather stripping, caulking, low-flow showerheads, faucet aerators, minor repairs to doors and windows, and other services to eligible customers. Customers could save up to 20% annually on their natural gas bill depending on the energy efficiency upgrades performed. More than 1.6 million homes have been enrolled in the program since 2002. Customers can qualify for the Energy Savings Assistance Program based on having one individual in the home who falls under the income guidelines or participates in a public assistance program like Medi-Cal/Medicaid, CalFresh, the National School Lunch Program, among others. The program is open to renters and homeowners, and income levels are updated annually to adjust for federal poverty guidelines. "SoCalGas is leading the transition to a more resilient energy future by providing customers with affordable, more sustainable energy. Through the Energy Savings Assistance Program, we can offer long-term, energy-efficient home improvements to customers that will lower their costs and reduce a household's environmental footprint. The program's expanded guidelines will allow more SoCalGas customers to save energy and save money and help us collectively reach clean energy goals," said Brian Prusnek, SoCalGas' Director of Customer Programs and Assistance. The Energy Savings Assistance Program's revised income guidelines were the result of Senate Bill 756, authored by San Diego Senator Ben Hueso (D-40). "The ESA program is an important tool for our state in the fight against climate change," said Senator Hueso. "Energy efficiency upgrades reduce energy utility bills, increase a family's quality of life and comfort, support economic development, and move the state closer toward its climate goals. However, the ESA program budgets are routinely not fully expended – often with hundreds of millions of dollars remaining unspent each year. This new law will remedy that by expanding eligibility to include more low-income customers." "My family and I are very happy and grateful for the weatherization repairs SoCalGas and their contractor ACSGROUP provided to our home," said Veronica Medrano, a SoCalGas customer from Montclair. "We received a new furnace, and they installed a new water heater and we also qualified for a new washing machine. Our home is now more energy efficient. This program has changed our lives." Another SoCalGas customer assistance program is the California Alternative Rates for Energy (CARE) program, which will continue to provide a 20% discount on the monthly natural gas bill for customers who participate in certain public assistance programs or fall within 200% of federal poverty guidelines. A family of four that earns up to $55,500 is now eligible for the discount. To learn about SoCalGas' customer assistance programs, including the CARE program, or to sign up for the Energy Savings Assistance Program, visit socalgas.com/assistance or call (800) 331-7593. Information is available in the following languages: Chinese, Hmong, Korean, Russian, Spanish, and Vietnamese. 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 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas 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 dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook . SOURCE Southern California Gas Company
A Texas-sized homecoming
Energy employer, Sempra helps army Vets get new homes with donations, while supporting over 800 veteran employees
SoCalGas Awards More Than $300,000 in Scholarships Over the Next Three Years to Central and Southern California Students Pursuing Higher Education
Over 85 percent of SoCalGas scholarship recipients are minority students majoring in STEM, accounting and finance LOS ANGELES, June 30, 2022 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced that 25 students from Central and Southern California have been awarded funds from the 2022 SoCalGas Scholarship Program. For the first time, the utility has partnered with Scholarship America® to provide multiyear scholarships for students studying science, technology, engineering, math (STEM), accounting or finance. Scholarships are eligible for renewal for the next three years totaling over $300,000 in available funds. The students were evaluated on their academic achievements, community involvement and personal statements addressing the utility's sustainability actions in support of California's clean energy goals. With 87 percent of this year's recipients identified as minority students, SoCalGas' scholarship program continues to help create new opportunities for diverse and underserved scholarship recipients. "Education is a key avenue to help people succeed, and these SoCalGas scholarships will help those with the highest needs," said Los Angeles City Councilmember Joe Buscaino. "During my decade as a Councilmember and prior career with LAPD, I saw firsthand how education created a path towards a better future for low-income Angelenos." "We greatly appreciate the ongoing SoCalGas Scholarship Program which paves the way and offers new opportunities for many residents in Kern County," said Bakersfield Mayor Karen Goh. "The investment of SoCalGas in higher education and workforce development brings much-needed support in transforming the future of our community." "I want to thank SoCalGas for always championing our people and helping open doors for many within our communities," said Diahna Garcia-Ruiz, board president at Central Union High School District. "Year after year, I am amazed at what SoCalGas does for our communities. This is a tremendous opportunity for our students who lack financial support – these scholarships will aid them and help drive their future." "Our youth are the driving force of the future. The goal of our scholarship is to nurture this group and help build the important foundation that will help prepare them for professional opportunities and higher education," said Andy Carrasco, vice president of communications, local government, and community affairs at SoCalGas. "We understand that rising educational costs can be stressful, and we want to help alleviate those worries as much as possible to allow our students a brighter future." Matthew Torre, a graduate from Patriot High School in Jurupa Valley who will be pursuing a degree in Management Science and Engineering with a minor degree in statistics at Stanford in the fall said, "I am truly honored to be selected for such a prestigious and generous scholarship. It has always been a dream of mine to attend a top University and to do so with the help of this scholarship, is a dream realized for me. I am proud to represent my community and SoCalGas as part of the Stanford Class of 2026." Aisha Siddiqi, a graduate from Foothill High School who will be pursuing an environmental science degree at the Rochester Institute of Technology in New York said, "It's an honor to receive the SoCalGas Scholarship this year. It has been a wonderful adventure so far in pursuing my dreams to help our environment. I cannot wait to expand my knowledge in the coming years at RIT thanks to this scholarship. Wanda Barahona, a graduate from Augustus Hawkins Critical Design and Gaming High School who will be attending the University of California, Los Angeles with a major in computer science said, "I am so excited to attend college this fall. I've always participated in many extracurriculars throughout high school such as robotics which ultimately helped shaped my love for video games. Thank you to SoCalGas for granting me this scholarship that will allow me to continue pursuing my passions." Aaron Dukes, a graduate from Bakersfield High who will be attending Bakersfield College with a major in Biology and Chemistry said, "I am grateful for the funds that this scholarship will provide as I continue to pursue my passion in the sciences. Prior to attending college this fall, I was part of the Kern Medical Research Assistant Program – I'm excited to see how my education will help me continue to give back to my community here." The program is administered by Scholarship America®, the nation's largest designer and manager of scholarship, tuition assistance, and other education support programs for corporations, foundations, associations, and individuals. Eligibility for individual programs is determined at the sole discretion of the sponsor, and eligible applications are reviewed by Scholarship America's evaluation team. Since the program's inception in 2001, the utility has awarded more than 2,200 scholarships totaling over $3 million in funding. Students who plan to attend a community college or trade school will receive a $1,000 scholarship and students who plan to attend a university, or 4-year college will receive a $5,000 scholarship. Awards are renewable for three years or until a bachelor's degree is earned, whichever occurs first, on the basis of satisfactory academic performance for a total of up to $20,000 per recipient. In 2021, the utility invested $2.3 million in educational programs with over $500,000 spent in funding towards scholarships for students throughout our service territory. SoCalGas' Scholarship Program is part of the company's ASPIRE 2045 sustainability goals to increase diversity, equity and inclusion in the workplace and the communities it serves, including a commitment to invest $50 million to drive positive change in diverse and underserved communities over the next five years. 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 21.8 million consumers across 24,000 square miles of Central and Southern California. Gas delivered through the company's pipelines will continue to play a key role in California's clean energy transition—providing electric grid reliability and supporting wind and solar energy deployment. SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America. In support of that mission, SoCalGas 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 dairy farms, landfills, and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for customers. SoCalGas is a subsidiary of Sempra (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook. SOURCE Southern California Gas Company

Pagination

  • « First First page
  • ‹‹ Previous page
  • …
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • …
  • ›› Next page
  • Last » Last page

Quick search

Press release

Oncor

Capital plan

Earnings

Texas

California

Reliability

Safety

Annual Report

Corporate Sustainability Report

Sempra
  • Our business
    • Overview
    • Mission & values
    • Recognition & awards
    • Reliability & resilience
    • Sustainability
      • Sustainable financing
      • Sustainability resource library
  • Who we serve
    • Overview
    • Texas
    • California
    • Community giving
  • Our team
    • Overview
    • Board of directors
    • Leadership team
    • Meet our CEO
  • Investors
    • Overview
    • Investor news
    • Financials & filings
    • Corporate governance
      • Code of conduct
      • Political engagement & contributions
      • W9 tax forms
    • Stock information
    • Investor resources
  • Careers
    • Overview
    • Open positions
    • Benefits
  • Newsroom
    • Overview
    • Media contacts
    • Press releases
    • Spotlight articles
    • Email Alerts
SRE: ()

Quick search

Press release

Oncor

Capital plan

Earnings

Texas

California

Reliability

Safety

Annual Report

Corporate Sustainability Report

Utilities

Pagination

  • Previous page ‹‹
  • Page 23
Subscribe to Utilities
Sempra
  • Our business
  • Who we serve
  • Our team
  • Investors
  • Careers
  • Newsroom
  • Contact
  • Our business
  • Who we serve
  • Our team
  • Investors
  • Careers
  • Newsroom
  • Contact
  • Instagram instagram logo image
  • Twitter Twitter logo image
  • Linkedin Linkedin logo image
  • Youtube youtube logo image
© 2026 Sempra. All rights reserved.
  • Privacy
  • Terms and conditions
  • Forward-looking statements
  • Sitemap

*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).