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Displaying results 946 - 960 of 1201
Sempra Energy And Total S.A. Sign Memorandum Of Understanding For Development Of North American LNG Export Projects
SAN DIEGO and PARIS, Nov. 5, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) and Total S.A. (NYSE: TOT) today announced that they have entered into a Memorandum of Understanding (MOU) that provides the framework for cooperation in the development of North American liquefied natural gas (LNG) export projects. The scope of the MOU covers continuing development of the Cameron LNG liquefaction-export project in Louisiana and Energía Costa Azul (ECA) liquefaction-export project in Baja California, Mexico. The MOU between Sempra Energy and Total contemplates Total potentially contracting for approximately up to 9 million tonnes per annum (Mtpa) of LNG offtake across Sempra Energy's LNG export development projects on the U.S. Gulf Coast and West Coast of North America, specifically Cameron LNG Phase 2 and ECA LNG. Total, which already is a partner in the Cameron LNG joint venture with a 16.6-percent stake, also may acquire an equity interest in ECA LNG. "The U.S. is increasing its global leadership position in the production of oil and natural gas," said Jeffrey W. Martin, CEO of Sempra Energy. "In large measure, the next step in fulfilling our country's energy potential is the development of critical export infrastructure for LNG. Sempra Energy has a long-term goal of developing more than 45 Mtpa of LNG export capacity in North America. That is why our relationship with Total is so important. We plan to leverage the competitive strengths of both companies to accelerate development of North American LNG exports to global markets." "This relationship with Sempra Energy will support our goal of building a diverse portfolio of LNG supply options that offers our customers flexibility, reliability and low-cost North American natural gas," said Patrick Pouyanné, chairman and CEO of Total S.A. "We are pleased to collaborate with Sempra Energy and the other Cameron LNG co-owners to extend the Cameron LNG project and to further enhance its competitiveness, but also participate in the development of export capacity on the West Coast of Mexico, which will benefit from synergies with existing infrastructure and from a significant shipping cost advantage for customers in Asia." The $10 billion Phase 1 of the Cameron LNG joint-venture liquefaction-export project includes three liquefaction trains with approximately 14 Mtpa of export capacity under construction in Louisiana. Commissioning of the first train is now under way and all three trains are expected to be producing LNG in 2019. Phase 2 of the Cameron LNG project, previously authorized by the Federal Energy Regulatory Commission and being developed jointly by the Cameron LNG co-owners, encompasses up to two additional liquefaction trains and up to two additional LNG storage tanks with approximately 9 Mtpa of capacity. ECA Phase 1 is a one-train facility with an expected total export capacity of 2.5 Mtpa, utilizing the existing LNG receipt terminal's tanks, loading arms and berth. ECA Phase 2 is expected to have additional export capacity of 12 Mtpa of LNG. Development of LNG export facilities is subject to a number of risks and uncertainties, including obtaining binding customer commitments, required regulatory approvals and permits, securing financing, completing the required commercial agreements and other factors, as well as reaching a final investment decision. The ultimate participation by Total remains subject to finalization of definitive agreements, among other factors. About Sempra EnergyIn addition to the Cameron LNG and ECA LNG export projects, Sempra Energy also is developing the Port Arthur LNG liquefaction-export project in Texas, a facility with two liquefaction trains capable of producing 11 Mtpa of LNG. Sempra Energy owns and operates natural gas and electric distribution utilities and is a major developer of North American energy infrastructure. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. About Total S.A.Total is the second largest publicly traded LNG player in the world and a shareholder in 12 liquefaction facilities that currently generate 25 percent of global LNG output. With a portfolio of 15.6 Mpta of LNG managed in 2017, Total is one of the world's leading players in the sector, with solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, the United Arab Emirates, the United States, Australia, Angola and Yemen, the Group sells LNG in all global markets. Following the acquisition of Engie's LNG business, Total became the second-largest private global LNG player among the majors, with an overall LNG portfolio of around 40 Mtpa by 2020 and a worldwide market share of 10 percent. LNG development is a key element of the Group strategy, which is strengthening its upstream positions in the major production regions with projects in Russia, the Middle East, the U.S. and Australasia, as well as its downstream positions in all markets. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, and (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments; the availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits) or may be disputed by insurers; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs 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 Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra Energy's website at www.sempra.com . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
SoCalGas and United Way Hold Everyone In™ Event to Help End Homelessness
LOS ANGELES, Nov. 2, 2018 — Southern California Gas Co. (SoCalGas) employees at the utility’s Pico Rivera base today built Welcome Home kits for people transitioning out of homelessness and learned more about what it is like to be homeless through virtual reality and role-play activities and by listening to a community member’s personal story at an Everyone In ™ event. Led by United Way of Greater Los Angeles (United Way), the event was the first of its kind to be held at a workplace location. Everyone In ™ is a coalition that focuses on ending homelessness across Los Angeles County by providing critical services to those who need it most and helping transition people experiencing long-term homelessness with short-term and permanent housing solutions. “This was an enlightening and inspiring event for all the SoCalGas employees who participated, and I recommend it to other corporate leaders as a way to bring their teams together to address a critical issue,” said Sharon Tomkins, vice president of customer solutions and strategy at SoCalGas. “SoCalGas is a longtime partner of United Way and supporter of efforts to end homelessness, and I am extremely proud that our employees have continually given their time and money to help this cause.” “We're thrilled to have worked with SoCalGas and the Los Angeles Rams on such a groundbreaking event,” said Elise Buik, President and CEO of United Way of Greater Los Angeles. “One of the top priorities of the Everyone In™ campaign is activating our community members around solutions to end homelessness.” Participants learned more about homelessness through a variety of activities, including a virtual reality experience showing a formerly homeless community member’s journey into supportive housing and a role-play simulation demonstrating the choices homeless people must make every day. They also gained information on how they can help to end homelessness and encourage others to join the effort, and a representative from the Corporation for Supportive Housing shared how homeless assistance programs have helped her. Los Angeles Rams cheerleaders provided additional excitement at the event. SoCalGas employees also put together 50 Welcome Home kits with bedding and kitchen and cleaning supplies for formerly homeless individuals and families transitioning to new homes. Since 2012, SoCalGas has contributed more than $475,000 to United Way for homeless assistance programs, which has helped over 730 homeless individuals obtain housing. The utility has also been the top team fundraiser and has had the most participants of any team for the last five years at HomeWalk 5K, United Way’s annual family run/walk that raises public awareness and funds to help end homelessness in Los Angeles County. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (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 . # # #
Cameron LNG To Initiate Commissioning Of First Train Of Liquefaction-Export Project
SAN DIEGO, Nov. 2, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Cameron LNG has initiated the commissioning process for the support facilities and first liquefaction train of Phase 1 of its Hackberry, La., liquefaction-export project. "All major construction activities have been completed to begin the commissioning and start-up process to produce LNG from the first liquefaction train," said Joseph A. Householder, president and chief operating officer of Sempra Energy. "This is a significant milestone for this landmark U.S. energy infrastructure facility – an important step forward in advancing our strategic vision to become North America's premier energy infrastructure company." Phase 1 of the Cameron LNG liquefaction-export project, which includes the first three liquefaction trains, is a $10 billion facility with a projected export capability of 12 million tonnes per annum (Mtpa) of LNG, or approximately 1.7 billion cubic feet per day. All three trains are expected to be producing LNG in 2019. The commissioning process includes testing of all support systems, combustion turbines and compressors, as well as the delivery of feed gas from the transmission pipeline and production of the first LNG. Once all of the steps of the commissioning process are approved by the Federal Energy Regulatory Commission (FERC) and successfully completed for the first liquefaction train, LNG production will start up, and then ramp up to full production for delivery to global markets. Cameron LNG is jointly owned by affiliates of Sempra LNG & Midstream, Total, Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Sempra Energy indirectly owns 50.2 percent of Cameron LNG. Sempra Energy's share of full run-rate earnings from the first three trains at Cameron LNG are projected to be between $365 million and $425 million annually. Cameron LNG Phase 1 is one of five LNG export projects Sempra Energy is developing in North America. Cameron LNG Phase 2, previously authorized by FERC, encompasses up to two additional liquefaction trains and up to two additional LNG storage tanks. Sempra Energy's other LNG development projects include Port Arthur LNG, Energía Costa Azul (ECA) LNG Phase 1 and ECA LNG Phase 2. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the U.S. Department of Energy, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency and Pipeline and Hazardous Materials Safety Administration, states, cities and counties, and other regulatory and governmental bodies in the United States and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, and (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments; the availability of natural gas and liquefied natural gas, and natural gas pipeline and storage capacity; equipment failures; changes in energy markets; volatility in commodity prices; moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases and harmful emissions, and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits) or may be disputed by insurers; cybersecurity threats to storage and pipeline infrastructure, the information and systems used to operate our businesses; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; changes in foreign and domestic trade policies and laws, including border tariffs, revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs 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 Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra Energy's website at www.sempra.com. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Sempra Energy Names Patricia K. Wagner Group President Of U.S. Utilities
SAN DIEGO, Nov. 1, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Patricia K. Wagner has been promoted to group president of U.S. utilities for the company. Currently chairman and CEO of Southern California Gas Co. (SoCalGas), Wagner will assume her new position Nov. 17, reporting to Joseph A. Householder, president and chief operating officer of Sempra Energy, and continue in her role as chairman of SoCalGas. "We are pleased to elevate Patti Wagner into this broader role overseeing our U.S. utilities," said Householder. "She brings a long track record of leadership success and industry experience. In her new position, Patti will be able to apply her deep and diverse experiences from managing within our utility, infrastructure and corporate organizations." As group president, Wagner will oversee San Diego Gas & Electric (SDG&E), SoCalGas and Sempra Energy's investment in Oncor Electric Delivery Company LLC. J. Bret Lane will remain president and chief operating officer of SoCalGas and continue to report to Wagner. Wagner has served as CEO of SoCalGas, the nation's largest natural gas distribution utility, since 2016 and as chairman of SoCalGas since May 2018. Previously, from 2014 to 2016, she was president and CEO of Sempra U.S. Gas & Power, a predecessor company for Sempra Energy's renewable energy and non-utility natural gas infrastructure businesses. In her 23-year Sempra Energy career, Wagner has held a range of other leadership positions, including: vice president of audit services for Sempra Energy; vice president of accounting and finance for SoCalGas; vice president of information technology for SoCalGas and SDG&E; and vice president of operational excellence for SoCalGas and SDG&E. She also has served in key management roles at SoCalGas and SDG&E in gas distribution operations and customer services. Prior to joining the Sempra Energy companies in 1995, Wagner held management positions at Fluor Daniel, McGaw Laboratories and Allergan Pharmaceuticals. She serves on the board of directors of Apogee Enterprises, Inc. where she is a member of the Compensation and Audit committees. Wagner also is a board member for the Southern California Leadership Council and Cal Poly Pomona College of Engineering's Dean's Leadership Board. Wagner holds a master's degree in business administration from Pepperdine University and a bachelor's degree in chemical engineering from California State Polytechnic University, Pomona. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or when we discuss our guidance, strategy, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts, major acquisitions such as our interest in Oncor, and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments, and (iv) not realizing anticipated benefits; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability; and moves to reduce or eliminate reliance on natural gas; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as where inverse condemnation applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), 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; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our equity and debt securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; changes in capital markets, energy markets and economic conditions, including the availability of credit and the liquidity of our investments; and volatility in inflation, interest and currency exchange rates and commodity prices and our ability to effectively hedge the risk of such volatility; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation and the potential risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements and commitments, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Sempra Energy Names Bethany J. Mayer Executive Vice President Of Corporate Development And Technology
SAN DIEGO, Nov. 1, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Bethany J. Mayer has been named to the newly created position, executive vice president of corporate development and technology for Sempra Energy. Mayer, currently an executive partner with Siris Capital Group LLC, a New York-based private equity firm, will join Sempra Energy Nov. 26 in her new role, reporting to Jeffrey W. Martin, CEO of Sempra Energy. Mayer served on the Sempra Energy board of directors from February 2017 until Oct. 30, 2018, when she resigned her board position in advance of assuming her new management role with the company. As executive vice president of corporate development and technology, Mayer will lead the company's strategy, corporate development/mergers and acquisitions activity, cybersecurity, digital technology and certain human resources activities. "We are building North America's premier energy infrastructure company and, every day, we are striving to better serve the changing energy needs of more than 40 million consumers worldwide," said Martin. " Bethany Mayer's appointment underscores the increasingly critical role technology plays today and in the future in our business. We are thrilled to have someone of Bethany's caliber join our executive team. She is an innovator with deep technology and business experience, who will provide leadership as we seek new and better ways to serve our customers." Prior to joining Siris Capital Group, Mayer was president and CEO of Ixia, a publicly traded $500 million company and market leader in test, visibility and security solutions. During her tenure at Ixia, Mayer drove the growth of the company in key new markets, culminating in a successful sale of the company to Keysight Technologies Inc. in 2017. She brings more than 25 years of technology experience serving in executive roles in companies both large and small. Prior to Ixia, Mayer was senior vice president and general manager of Hewlett Packard's $2.5 billion networking business unit and Network Functions Virtualization business unit. Previously, Mayer served as senior vice president of marketing and alliances for Blue Coat Systems and held leadership roles at both Cisco Systems and Apple. In addition to serving as a Sempra Energy director, Mayer also holds director positions with Marvell Technology and DataStax Inc. In 2017, Mayer was awarded the Global Leader of the Year Award by Women in IT and was named one of the "Top 50 Most Powerful Women in Technology" in both 2015 and 2016 by The National Diversity Council. In 2015, she was named to The Channel Company's prestigious 2015 CRN® Top 100 list as one of the technology industry's "Top 25 Disruptors" – executives who have made the most significant impact on the technology sector. Mayer holds a bachelor's degree from Santa Clara University and a master's degree in business administration from California State University, Monterey Bay, where she received the Distinguished Alumni award in 2018. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or when we discuss our guidance, strategy, plans, goals, vision, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts, major acquisitions such as our interest in Oncor, and construction projects, including risks in (i) timely obtaining or maintaining permits and other authorizations, (ii) completing construction projects on schedule and on budget, (iii) obtaining the consent and participation of partners and counterparties and their ability to fulfill contractual commitments, and (iv) not realizing anticipated benefits; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability; and moves to reduce or eliminate reliance on natural gas; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as where inverse condemnation applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid, limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; risks posed by actions of third parties who control the operations of our investments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), 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; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our equity and debt securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; changes in capital markets, energy markets and economic conditions, including the availability of credit and the liquidity of our investments; and volatility in inflation, interest and currency exchange rates and commodity prices and our ability to effectively hedge the risk of such volatility; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacement of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation and the potential risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements and commitments, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
SoCalGas Study Offers Lessons in Resiliency Planning to Help Communities and Utilities Prepare for Disasters
LOS ANGELES, Oct. 30, 2018 /PRNewswire/ -- As wildfire season arrives and the U.S. recovers from two Category 4 hurricanes, Southern California Gas Co. (SoCalGas) today released a new study that looks at how utilities and communities across the country can be better prepared for such disasters. The study, conducted for SoCalGas by global consulting firm ICF, investigated damage and disruptions in the energy and transportation sectors caused by four disasters--hurricanes Harvey and Irma, last October's Northern California wildfires, and the December 2017 wildfires and subsequent mudslides in Southern California. The report reveals examples of resilience and best practices by various utilities, drawing from utility and state Energy department reports, interviews recounting first-hand observations, and other sources. The full study is available here. "This study gave us key insights into how we can create a stronger energy system that better protects communities," said Jimmie Cho, SoCalGas senior vice president of customer services and distribution operations. "We hope that sharing the results can help enhance resiliency both in California and across the country. The impact of these disasters makes it clear that it's time for action, and we're proud to play a part in that." "This case study analysis makes clear the importance of gathering information through technologies such as SCADA systems and drone capability, then sharing that data in real-time interaction between utilities and government in a natural disaster," said Don Boland, executive director of the California Utilities Emergency Association. "Utilities, law enforcement, Fire, DOT and emergency responders cannot be siloed. Everyone needs to share information so that all parties know what can be brought to bear in a disaster response." "There are real and growing risks that energy utilities face," said Susan Asam, the project lead and Vice President of Climate Adaptation and Resilience at ICF. "SoCalGas has shown leadership in recognizing the need to better understand these risks, the value of learning from past events, and the importance of sharing best practices widely." The study revealed findings that may be useful for utilities and communities anywhere: Backup generation powered by natural gas pipelines is a crucial component of overall resiliency but is not established in some facilities. During the four disasters, hospitals, nursing homes, grocery stores and other facilities that had backup generation were able to continue effective functioning. Conversely, lack of backup generation resulted in failure of water pumps in some locations, leaving some firefighters without water during the California fires. In addition, lack of generators to power air conditioning caused the death of several seniors due to excessive heat at a nursing home in Florida. SoCalGas and many other utilities offer distributed generation systems for customers. Combined heat and power (CHP) systems, a highly efficient form of distributed generation, can increase resiliency so long as they use generators that can start and operate during grid outages. Because they do not rely on the electric grid, CHP systems can support critical loads when necessary. The U.S. Environmental Protection Agency provides a list of manufacturers, engineers and consultants that can assist communities or critical facilities with putting in a CHP generation system. Natural gas-fired generators can also be fueled by portable natural gas cylinders brought in to evacuation sites away from dangerous areas. Proactive shut-off of both electric and gas utilities can be used effectively to prevent damage, but service restoration for natural gas is particularly time-consuming and expensive. To reduce the impact to gas and electric customers in future disasters, utilities can work to further subdivide their service territories, so that smaller areas are affected when service is intentionally interrupted. For example, SoCalGas installed additional isolation valves when restoring natural gas after the Southern California mudslides, to make it easier to safely isolate sections of the distribution system in the future. Because it is underground, natural gas infrastructure is generally more resilient than above-ground electric power lines. Electric outages due to weather-related impacts on above-ground electricity infrastructure were much more common in the four disasters studied. However, mudslides following California's Thomas fire caused localized impacts to the natural gas pipeline system. Satellite and drone image analysis can pinpoint damage to infrastructure when physical access is limited and speed up response in the time-critical hours following an event. Following the Southern California mudslides, SoCalGas used satellite images to locate exactly where mudflows had occurred and where those locations overlapped with their pipelines. Similarly, drones equipped with methane sensors and high-definition cameras were able to survey for leaks and rapidly assess damage. The latest natural gas technologies, such as automated shut-off valves and advanced meters, can help prevent damage or locate damaged areas. Enhanced cross-training exercises between utilities and emergency response personnel can help communities prepare for successful disaster response. Clear communication and coordination between utilities and first responders is necessary to coordinate access to infrastructure when conditions are unsafe. SoCalGas is using the findings from this study to help enhance resiliency locally. The company will apply lessons learned through its Climate Adaptation and Resiliency Planning Grant Program, which will provide $100,000 in planning grants to two selected municipalities. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (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
SDG&E Media Statement on City of San Diego CCA Announcement
SAN DIEGO, Oct. 25, 2018 /PRNewswire/ -- Today, the City of San Diego announced its intention to pursue becoming an alternative energy provider by forming a Community Choice Aggregation (CCA) program. In response, San Diego Gas & Electric (SDG&E) issued the following statement: "SDG&E respects the City of San Diego's right to create a procurement program that best fits its needs. SDG&E has a long history of partnership with the City, and is committed to continuing a productive, cooperative relationship. As the City charts this new course for purchasing electricity, SDG&E will help enable the transition. "SDG&E does not anticipate any material impact to its financial results from the City's decision to adopt a CCA program and implement it in the next few years. By law, SDG&E cannot profit from the sale of energy that it has purchased for its customers. The cost of energy contracts is a pure pass-through cost to customers with no markup allowed. "Moreover, the California Public Utilities Commission's recent decision to modify the current exit fee cost allocation mechanisms (PCIA) is designed to minimize the potential for unlawful cost shifts related to past clean energy and systemwide reliability investments that have benefited and continue to support everyone. State law prohibits the shifting of costs from departing customers (those joining alternative energy programs, such as CCAs) to customers who remain with their traditional utility. "All our customers deserve the highest level of service regardless of their commodity supplier. SDG&E will continue to operate a safe and reliable power grid to deliver energy to all customers." SOURCE SDG&E
SoCalGas Announces New Truck Loan Program for Fleets Interested in Switching from Diesel to Natural Gas Trucks
LOS ANGELES, Oct. 24, 2018 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the launch of the new SoCalGas Truck Loan Program. The program allows qualified fleet owners the opportunity to try out the latest in heavy-duty natural gas truck technology by test driving a 12-Liter near-zero truck. This "try before you buy" program provides fleet owners with the opportunity to haul loads with the new truck for up to two weeks. Operators will experience the similarities between natural gas trucks and diesel trucks with respect to power, drivability, fuel range and fuel availability. Additionally, fleet owners will see the advantages natural gas trucks have over diesel, including lower fuel costs. SoCalGas is working in partnership with the truck's owner, Rush Truck Centers, the only company with a 12-Liter near-zero natural gas truck equipped with a Cummins Westport ISX12N engine and Momentum Fuel system available for rent in Southern California. As part of the rental program, customers will participate in a "pre-rental" and "post-rental" survey of their natural gas vehicle driving experience. The survey will include topics such as truck performance, fueling availability, grants and incentives and purchase decision. "More fleet owners have switched to natural gas trucks over the last few years, due in part to available incentive funding," said Sharon Tomkins, vice president of customer solutions and strategy for SoCalGas. "However, some are unfamiliar with the technology and are hesitant to make the switch. The SoCalGas Truck Loan Program is the perfect way to put natural gas trucks to the test on routes driven every day." "We had the opportunity to be one of the first participants in the Truck Loan Program," said Gordy Reimer, president of Southern Counties Express. "Our drivers were able to successfully test the newest 12-Liter renewable natural gas engine on trade lanes they current operate their own trucks on and discover for themselves the advances in natural gas engine technology." This loan program is just one tool SoCalGas is using to get more drivers behind the wheel of the cleanest heavy-duty truck commercially available. SoCalGas account executives have assisted dozens of fleet owners with incentive funding applications to purchase more than 350 near-zero natural gas trucks and build five new CNG fueling stations since the beginning of the year. Replacing 350 diesel trucks with near-zero natural gas trucks is the equivalent of taking more than 20,000 passenger cars off the road. For more information on the Truck Loan Program or to inquire about upcoming funding programs, please contact Wendell Peoples at WPeoples@semprautilities.com. About SoCalGas Headquartered in Los Angeles, SoCalGas® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (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 Energy To Report Third-quarter 2018 Earnings Nov. 7
SAN DIEGO, Oct. 24, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) plans to release its third-quarter 2018 earnings at 7 a.m. EST, Nov. 7. Sempra Energy executives will conduct a conference call at 12 p.m. EST, Nov. 7. 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 at 7 a.m. EST, Nov. 7, on Sempra Energy'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 9587918 or it can be accessed on the company's website. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. SOURCE Sempra Energy
Sempra Energy Subsidiary IEnova Signs Long-Term Contract For Refined Fuels Terminal In Sinaloa, Mexico
SAN DIEGO, Oct. 23, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), has signed a long-term contract with a subsidiary of Marathon Petroleum Corporation (MPC) for approximately 50 percent of the 1-million-barrel initial capacity of the Topolobampo refined fuels marine terminal in Sinaloa, Mexico. Under the agreement, MPC's subsidiary will have storage capacity of 500,000 barrels of refined fuels that will provide access to new international supplies of fuel to meet the growing demand in the West Coast region of Mexico. Commercial operations of the approximately $150-million marine terminal are expected to commence in late 2020. Last month, IEnova announced it signed a long-term contract with Chevron Combustibles de Mexico S. de R.L. de C.V. for 50 percent of the initial capacity of the terminal. IEnova will be responsible for the development of the liquid fuels project, including obtaining permits, engineering, procurement, construction, financing as well as maintenance and operations. IEnova also announced last month it is constructing a 1-million-barrel liquid fuels project in Baja California. Together, these projects advance IEnova's growth plan to develop and build energy infrastructure to benefit energy consumers in Mexico and support Sempra Energy's strategic vision to become North America's premier energy infrastructure company. IEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2017, the company had invested more than U.S. $7.6 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova was the first energy infrastructure company to be listed on the Mexican Stock Exchange. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in timely obtaining or maintaining permits and other authorizations, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners and counterparties; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements or modifications of settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability, any of which may raise our cost of capital and materially impair our ability to finance our operations; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as in cases where the inverse condemnation doctrine applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets, volatility in commodity prices and moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of insurance, to the extent that such insurance is available or not prohibitively expensive; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our common stock, preferred stock and other securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacements of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; the ability to realize the anticipated benefits from our investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings); Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements, certain reductions in its senior secured credit rating, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov. Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission SOURCE Sempra Energy
SoCalGas' Innovative Natural Gas Capture System Conserves More Than 2.5 Million Cubic Feet of Natural Gas to Date
LOS ANGELES, Oct. 19, 2018 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the utility had achieved a new milestone with its innovative natural gas capture system, conserving a total of more than 2.5 million cubic feet of natural gas – the equivalent to what more than 12,500 homes use each day on average in the U.S. – since first deploying the technique in August 2016. When crews perform work on a pipeline, some natural gas inside the pipe must be released for safety. Instead of being released into the atmosphere, the natural gas is captured, compressed, and reinjected back into the utility's pipeline system for use by SoCalGas customers. The innovative process reduces emissions and eliminates noise and odor that typically occur in the traditional venting process during pipeline replacement or inspection work. The methane capture technique was one of the best practices included in the utility's Leak Abatement Compliance Plan approved on October 12 by the California Public Utilities Commission (CPUC). Photos from one of the natural gas capture projects are available here. "For more than 25 years, SoCalGas has been working hard to reduce emissions from its operations, and because of many practices, like the gas capture system, we have one of the lowest methane emission rates of any natural gas distribution company in the country," said David Buczkowski, vice president of gas engineering and system integrity for SoCalGas. "We are pleased that the CPUC responded positively to the compliance plan and best practices we submitted earlier this year, and believe the approved plan will assist our efforts to further reduce emissions." The methane capture technique was first trialed through SoCalGas' Pipeline Safety Enhancement Plan (PSEP), a multi-year program that identifies various high pressure pipeline sections throughout SoCalGas' system and schedules them to be pressure-tested or replaced. SoCalGas is a leader in reducing emissions from its system, delivering more than 99.5 percent of the natural gas brought into its pipelines. The utility deploys a suite of advanced technologies to detect and mitigate potential leaks and damage to pipelines, including: Real-time monitoring of transmission pipelines from state-of-the-art Gas Control Center; Fiber optic cables that detect methane leaks and third-party damage to pipelines in real-time; Infrared cameras to check for leaks in newly-installed pipelines; Aerial leak surveys from both aircraft and drones; Infrared "point" sensors that can detect leaks even before smell is detected; In-line inspections tools, or "smart pigs"; External corrosion surveying; and Algorithms that use Advanced Meter system to identify unusual levels of natural gas consumption. In 1993, SoCalGas was one of the first local gas distribution companies to join Environmental Protection Agency's (EPA) Natural Gas STAR Program, an effort by the EPA to promote the development and adoption of technologies and best practices to reduce methane emissions. Since joining STAR, SoCalGas has voluntarily implemented dozens of cost-effective, methane reduction projects that have resulted in the reduction of more than 800,000 metric tons of carbon dioxide equivalent (CO2e). Addressing California's Emissions with Renewable Natural Gas Nationwide, emissions from natural gas pipeline systems, like SoCalGas', represent less than 1 percent of greenhouse gas emissions. Most of California's methane emissions—about 80 percent—come from the agriculture and waste industries. Because of this, SoCalGas has been working to rapidly expand the production and use of renewable natural gas (RNG) in California. Earlier this year, SoCalGas announced that RNG derived from organic waste from sources like dairies, wastewater treatment plants, and landfills was being introduced into the utility's pipeline system. RNG is a carbon-negative fuel produced from waste found at landfills, wastewater treatment plants, and agriculture and dairy farms that can be used in trucks and buses, to generate electricity, fuel heating systems in home and businesses, and for cooking. New research shows that RNG can play an important role in lowering carbon emissions in buildings. The analysis forecasts that replacing roughly 16 percent of the traditional natural gas supply with RNG can achieve greenhouse gas reductions equivalent to converting 100 percent of buildings to electric-only energy by 2030. By using a mix of both in and out of state resources, RNG strategy is three times more cost effective in reducing greenhouse gas emissions than an electrification pathway. SoCalGas recently joined a new international collaboration with Canadian natural gas utility Énergir and French utilities GRDF and GRTgaz aimed at advancing the research and development of renewable natural gas and renewable energy storage technologies, such as power-to-gas. To help educate the public on renewable natural gas and assist developers who may be interested in interconnecting to the SoCalGas pipeline network, the utility developed a downloadable toolkit. Watch this video to learn more about the environmental and cost-saving benefits of renewable natural gas: Digesting the Facts About Renewable Natural Gas. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (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
Oncor To Acquire InfraREIT; Sempra Energy To Acquire 50% Stake In Sharyland Utilities
SAN DIEGO, Oct. 18, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) and Oncor Electric Delivery Company LLC (Oncor) today announced that they have entered into agreements whereby Oncor will acquire 100 percent of the equity interests of InfraREIT, Inc. (NYSE: HIFR) (InfraREIT), including all the limited-partnership units in its subsidiary InfraREIT Partners, LP, for approximately $1.275 billion, or $21 per share (or partnership unit), excluding certain transaction costs, and, concurrently, Sempra Energy will acquire a 50-percent limited-partnership interest in a holding company that will own Sharyland Utilities, LP (Sharyland) for approximately $98 million. Sempra Energy owns an approximate 80-percent ownership stake in Oncor. "This transaction advances our growth strategy and will expand our Texas regulated utility platform," said Jeffrey W. Martin, CEO of Sempra Energy. "These assets are highly desirable and supported by strong economic growth, attractive demographic trends and increased demand for electric transmission in Texas. We expect these acquisitions to be accretive to earnings. We also look forward to working with Sharyland on further developing electric transmission and related infrastructure in Texas." "The purchase of InfraREIT gives us access to high-quality transmission assets that are adjacent to our service territory and are a great fit for our portfolio," said Allen Nye, CEO of Oncor. "As growth continues across Texas and new generation projects continue to come online, this acquisition positions us to make future investments in transmission infrastructure that will better serve the ERCOT market and our customers. We pride ourselves on building safe, reliable, state-of-the-art transmission infrastructure, while providing our customers the lowest rates of any investor-owned utility in Texas." "We believe that Oncor's acquisition of InfraREIT will bring tremendous benefits to Texas and the ERCOT market," said Texas Transmission Investment LLC (TTI), minority owner of Oncor, in a statement. Oncor plans to fund its acquisition of InfraREIT with capital contributions proportionate to their ownership interests from Sempra Energy and TTI. Sempra Energy expects to utilize the proceeds from pending asset sales to fund its capital contribution of approximately $1.025 billion to Oncor, excluding certain transaction costs, and also to purchase the 50-percent interest in Sharyland for approximately $98 million. In addition, the transaction by Oncor includes InfraREIT's outstanding debt, which, as of June 30, 2018, was approximately $945 million. The transaction requires approvals by the Public Utility Commission of Texas (PUCT) and Federal Energy Regulatory Commission, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and the satisfaction of other regulatory requirements, certain lender consents and other customary closing conditions. Additionally, the purchase of InfraREIT requires approval by its shareholders and is subject to a go-shop provision whereby InfraREIT can solicit superior bids. If all such closing conditions are satisfied, Sempra Energy and Oncor expect to close the transaction in mid-2019. As part of the transaction, a subsidiary of InfraREIT will exchange certain assets with Sharyland, with the end result being that, after Oncor's acquisition of InfraREIT, Oncor will own InfraREIT's electric transmission and distribution business in Central, North and West Texas, and Sharyland will own assets in South Texas. Financial advisors for the transaction are Lazard for Sempra Energy and Barclays for Oncor; legal advisors for the transaction are White & Case LLP for Sempra Energy and Vinson & Elkins LLP for Oncor. EARNINGS GUIDANCE Based on the expected accretion from today's announced transaction, combined with the expected use of proceeds from ongoing asset sales and the reduced earnings due to such asset sales – including the company's non-utility U.S. wind and solar assets and non-utility U.S. storage assets – Sempra Energy today affirmed its earnings-per-share guidance range of $5.70 to $6.30 for 2019 and $6.70 to $7.50 for 2020. Sempra Energy also updated its 2018 GAAP earnings-per-share guidance range to $2.83 to $3.44, primarily to reflect the estimated impact of the asset sales announced last month. The company's adjusted earnings-per-share guidance range for 2018 remains at $5.30 to $5.80. The 2018 adjusted earnings-per-share guidance range is a non-GAAP financial measure (see Table A for a reconciliation of the GAAP and adjusted earnings-per-share guidance ranges). INTERNET BROADCAST Sempra Energy and Oncor senior management plan to hold a conference call with the financial community today at 12 p.m. EDT to discuss the transaction. Investors, media, analysts and the public may listen to a live webcast of the conference call on Sempra Energy's website, www.sempra.com, by clicking on the appropriate audio link. For those unable to obtain access to the live webcast, the teleconference will be available on replay a few hours after its conclusion on Sempra Energy's website or by dialing (888) 203-1112 and entering passcode 3162523. Briefing materials will be posted on Sempra Energy's website at approximately 7 a.m. EDT. Headquartered in Dallas, Oncor Electric Delivery Company LLC is a regulated electricity distribution and transmission business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor operates the largest distribution and transmission system in Texas, delivering power to more than 3.6 million homes and businesses and operating more than 134,000 miles of transmission and distribution lines in Texas. Oncor is managed by its board of directors, which is comprised of a majority of independent directors. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Such forward-looking statements include, but are not limited to, statements about the timing of the anticipated transactions contemplated by the merger agreement and the securities purchase agreement, and any of the applicable parties' post-acquisition plans and intentions, and other statements that are not historical facts. The following important factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the satisfaction of conditions to closing the definitive agreements for the transactions; obtaining required governmental and regulatory approvals, which may delay the transactions or result in the imposition of conditions that could cause the parties to abandon the transactions or be onerous to Sempra Energy or Oncor; the expected timing to consummate the proposed transactions; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transactions may not be fully realized or may take longer to realize than expected; disruption from the transactions making it more difficult to maintain relationships with customers, employees or suppliers; and the diversion of management time and attention to issues related to the transactions. Additional factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in timely obtaining or maintaining permits and other authorizations, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners and counterparties; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements or modifications of settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability, any of which may raise our cost of capital and materially impair our ability to finance our operations; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as in cases where the inverse condemnation doctrine applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets, volatility in commodity prices and moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of insurance, to the extent that such insurance is available or not prohibitively expensive; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our common stock, preferred stock and other securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacements of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; the ability to realize the anticipated benefits from our investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings); Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements, certain reductions in its senior secured credit rating, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy and Oncor have 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 . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof, and neither company undertakes any obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. Additional Information and Where to Find It The proposed acquisition of InfraREIT by Oncor and the related agreement and plan of merger will be submitted to InfraREIT's stockholders for their consideration and approval. In connection with the proposed acquisition, InfraREIT will file a proxy statement with the SEC. This press release does not constitute a solicitation of any vote or proxy from any stockholder of InfraREIT. Investors are urged to read the proxy statement carefully and in its entirety when it becomes available and any other relevant documents or materials filed or to be filed with the SEC or incorporated by reference in the proxy statement, because they will contain important information about the proposed acquisition. The definitive proxy statement will be mailed to InfraREIT's stockholders. In addition, the proxy statement and other documents will be available free of charge at the SEC's website, www.sec.gov . When available, the proxy statement and other pertinent documents may also be obtained free of charge at the Investor Relations section of InfraREIT's website, http://infrareitinc.com , or by directing a written request to InfraREIT, Inc., Attention: Corporate Secretary, 1900 North Akard Street, Dallas, Texas 75201. Certain Information Concerning Participants Sempra Energy, Oncor and InfraREIT and their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed acquisition. Information about Sempra Energy's directors and executive officers is included in Sempra Energy's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on February 27, 2018, and Sempra Energy's definitive proxy statement for its 2018 Annual Meeting of Shareholders filed with the SEC on March 23, 2018, and Sempra Energy's Current Report on Form 8-K filed with the SEC on October 12, 2018. Information about Oncor's directors and executive officers is included in Oncor's Registration Statement on Form S-4 filed with the SEC on April 5, 2018, and Oncor's Current Report on Form 8-K filed with the SEC on July 19, 2018. Information about InfraREIT's directors and executive officers is included in InfraREIT's definitive proxy statement for its 2018 Annual Meeting of Stockholders filed with the SEC on March 22, 2018. SEMPRA ENERGY Table A RECONCILIATION OF SEMPRA ENERGY 2018 ADJUSTED EARNINGS-PER-SHARE GUIDANCE RANGE TO SEMPRA ENERGY 2018 GAAP EARNINGS-PER-SHARE GUIDANCE RANGE (Unaudited) Sempra Energy 2018 adjusted earnings-per-share guidance range of $5.30 to $5.80 excludes items as follows: $(965) million in impairments, net of $554 million income tax benefits and $46 million attributable to noncontrolling interests, of certain assets and equity method investments $(22) million impacts, net of $21 million income tax expense, associated with Aliso Canyon litigation $(25) million income tax expense to adjust TCJA provisional amounts $340 million - $370 million estimated gain on sale, net of $128 million - $139 million income tax expense, of U.S. solar assets that is expected to close near the end of 2018 Sempra Energy 2018 adjusted earnings-per-share guidance is a non-GAAP financial measure (GAAP represents accounting principles generally accepted in the United States of America). Because of the significance and/or nature of the excluded items, management believes this non-GAAP financial measure provides additional clarity into the ongoing results of the business and the comparability of such results to prior and future periods and also as a base for projected earnings-per-share compound annual growth rate. Sempra Energy 2018 adjusted earnings-per-share guidance should not be considered an alternative to earnings-per-share guidance determined in accordance with GAAP. The table below reconciles Sempra Energy 2018 adjusted earnings-per-share guidance range to Sempra Energy 2018 GAAP earnings-per-share guidance range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP. Full-Year 2018 Sempra Energy GAAP Earnings-Per-Share Guidance Range $ 2.83 to $ 3.44 Excluded items: Impairments of certain assets and equity method investments 3.55 3.55 Impacts associated with Aliso Canyon litigation 0.08 0.08 Impact from the TCJA 0.09 0.09 Estimated gain on sale of U.S. solar assets (1.25) (1.36) Sempra Energy Adjusted Earnings-Per-Share Guidance Range $ 5.30 to $ 5.80 Weighted-average number of common shares outstanding, diluted (millions) 272 SOURCE Sempra Energy
Sempra Energy Appoints Two New Directors
SAN DIEGO, Oct. 12, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Cynthia L. Walker and Michael N. Mears have been appointed to the company's board of directors. Walker is senior vice president of marketing and midstream operations and development for Occidental Petroleum, where she also formerly served as executive vice president and chief financial officer. Mears currently is chairman, president and CEO of Magellan Midstream Partners LP. The appointments of Walker and Mears were mutually agreed upon by Sempra Energy's board and Elliott Management Corporation as part of the cooperation agreement announced last month. Walker and Mears will serve on the board's LNG and Business Development Committee, which, together with the board, will lead an expanded review of Sempra Energy's businesses. Along with Walker and Mears, three current independent board directors – William C. Rusnack, James C. Yardley and Alan L. Boeckmann – will serve on the committee, with Boeckmann as chair. "Our strategic vision is to become North America's premier energy infrastructure company," said Jeffrey W. Martin, CEO of Sempra Energy. "With their considerable management experience in the energy industry, especially in the midstream sector, Cynthia Walker and Mike Mears will add critical depth and experience to our board as we continue to expand our energy infrastructure businesses. In addition, their experience evaluating and advising on significant transactions will inform their important work on the LNG and Business Development Committee as part of our expanded business review." Walker, 42, has served in her current role with Occidental Petroleum since 2016, leading midstream operations and the company's crude oil and natural gas marketing efforts. Previously, she was senior vice president of strategy and development for Occidental, overseeing the company's business development and financial planning activities. Walker joined Occidental Petroleum in 2012 as executive vice president and chief financial officer after 12 years at Goldman, Sachs & Co., where she rose to the position of managing director. At Goldman Sachs, she provided clients with strategic advice in high-profile energy industry transactions as a senior member of the firm's Global Natural Resources Group and Mergers and Acquisitions Group. Walker holds a bachelor's degree in business administration with high honors from the University of Texas at Austin. Mears, 55, has been chairman, president and CEO of Magellan Midstream Partners since 2011. Previously, from 2008 to 2011, he was the company's chief operating officer. Mears first joined Magellan Midstream Partners in 2002 when the company was formed and held a series of increasingly responsible management positions, including vice president of transportation and senior vice president of terminals and transportation. Before Magellan, Mears worked in a range of management positions for its predecessor company, Williams Pipeline Co., beginning in 1985. He holds a bachelor's degree in chemical and petroleum refining engineering from the Colorado School of Mines. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," "contemplates," "assumes," "depends," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "target," "pursue," "outlook," "maintain," or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Factors, among others, that could cause our actual results and future actions to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: actions and the timing of actions, including decisions, new regulations, and issuances of permits and other authorizations by the California Public Utilities Commission, U.S. Department of Energy, California Department of Conservation's Division of Oil, Gas, and Geothermal Resources, Federal Energy Regulatory Commission, U.S. Environmental Protection Agency, Pipeline and Hazardous Materials Safety Administration, Los Angeles County Department of Public Health, Public Utility Commission of Texas, states, cities and counties, and other regulatory and governmental bodies in the U.S. and other countries in which we operate; the timing and success of business development efforts and construction projects, including risks in timely obtaining or maintaining permits and other authorizations, risks in completing construction projects on schedule and on budget, and risks in obtaining the consent and participation of partners and counterparties; the resolution of civil and criminal litigation and regulatory investigations; deviations from regulatory precedent or practice that result in a reallocation of benefits or burdens among shareholders and ratepayers; denial of approvals of proposed settlements or modifications of settlements; and delays in, or disallowance or denial of, regulatory agency authorizations to recover costs in rates from customers or regulatory agency approval for projects required to enhance safety and reliability, any of which may raise our cost of capital and materially impair our ability to finance our operations; the greater degree and prevalence of wildfires in California in recent years and risk that we may be found liable for damages regardless of fault, such as in cases where the inverse condemnation doctrine applies, and risk that we may not be able to recover any such costs in rates from customers in California; the availability of electric power, natural gas and liquefied natural gas, and natural gas pipeline and storage capacity, including disruptions caused by failures in the transmission grid, moratoriums or limitations on the withdrawal or injection of natural gas from or into storage facilities, and equipment failures; changes in energy markets, volatility in commodity prices and moves to reduce or eliminate reliance on natural gas; risks posed by actions of third parties who control the operations of our investments, and risks that our partners or counterparties will be unable or unwilling to fulfill their contractual commitments; weather conditions, natural disasters, accidents, equipment failures, computer system outages, explosions, terrorist attacks and other events that disrupt our operations, damage our facilities and systems, cause the release of greenhouse gases, radioactive materials and harmful emissions, cause wildfires and subject us to third-party liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance (including costs in excess of applicable policy limits), may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of insurance, to the extent that such insurance is available or not prohibitively expensive; cybersecurity threats to the energy grid, storage and pipeline infrastructure, the information and systems used to operate our businesses and the confidentiality of our proprietary information and the personal information of our customers and employees; our ability to successfully execute our plan to divest certain non-utility assets within the anticipated timeframe, if at all, or that such plan may not yield the anticipated benefits; actions of activist shareholders, which could impact the market price of our common stock, preferred stock and other securities and disrupt our operations as a result of, among other things, requiring significant time and attention by management and our board of directors; capital markets and economic conditions, including the availability of credit and the liquidity of our investments; fluctuations in inflation, interest and currency exchange rates and our ability to effectively hedge the risk of such fluctuations; the impact of recent federal tax reform and uncertainty as to how it may be applied, and our ability to mitigate adverse impacts; actions by credit rating agencies to downgrade our credit ratings or those of our subsidiaries or to place those ratings on negative outlook and our ability to borrow at favorable interest rates; changes in foreign and domestic trade policies and laws, including border tariffs, and revisions to or replacements of international trade agreements, such as the North American Free Trade Agreement, that may increase our costs or impair our ability to resolve trade disputes; the ability to win competitively bid infrastructure projects against a number of strong and aggressive competitors; expropriation of assets by foreign governments and title and other property disputes; the impact on reliability of San Diego Gas & Electric Company's (SDG&E) electric transmission and distribution system due to increased amount and variability of power supply from renewable energy sources; the impact on competitive customer rates due to the growth in distributed and local power generation and the corresponding decrease in demand for power delivered through SDG&E's electric transmission and distribution system and from possible departing retail load resulting from customers transferring to Direct Access and Community Choice Aggregation or other forms of distributed and local power generation, and the potential risk of nonrecovery for stranded assets and contractual obligations; the ability to realize the anticipated benefits from our investment in Oncor Electric Delivery Holdings Company LLC (Oncor Holdings); Oncor Electric Delivery Company LLC's (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory capital requirements, certain reductions in its senior secured credit rating, or the determination by Oncor's independent directors or a minority member director to retain such amounts to meet future requirements; and other uncertainties, some of which may be difficult to predict and are beyond our control. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the U.S. Securities and Exchange Commission. These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov , and on Sempra Energy's website at www.sempra.com . Investors should not rely unduly on any forward-looking statements. These forward-looking statements speak only as of the date hereof and Sempra Energy or its subsidiaries undertake no obligation to update or revise these forecasts or projections or other forward-looking statements, whether as a result of new information, future events or otherwise. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
Sempra Energy's IEnova Unit To Report Third-Quarter 2018 Earnings Oct. 24
SAN DIEGO, Oct. 8, 2018 /PRNewswire/ -- Sempra Energy's (NYSE:SRE) Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), plans to release its third-quarter 2018 earnings at 6 p.m. EDT, Oct. 24, in advance of a conference call with IEnova executives at 11 a.m. EDT, Oct. 25. Briefing materials also will be posted by 6 p.m. EDT, Oct. 24, on IEnova's website, www.ienova.com.mx. Investors, media, analysts and the public may listen to a live webcast of the conference call on IEnova's website, by clicking on the appropriate audio link. For those unable to obtain access to the live webcast, the teleconference will be available on replay a few hours after its conclusion on the company's website, or by dialing 001-855-859-2056 and entering passcode 1587977#. IEnova develops, builds and operates energy infrastructure in Mexico. As of the end of 2017, the company had invested approximately US$7.6 billion in operating assets and projects under construction in Mexico, making it one of the largest private energy companies in the country. IEnova was the first energy infrastructure company to be listed on the Mexican Stock Exchange. Sempra Energy, a San Diego-based energy services holding company with 2017 revenues of more than $11 billion, is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide. Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra South American Utilities, Sempra North American Infrastructure, Sempra LNG & Midstream, Sempra Renewables, Sempra Mexico, Sempra Texas Utility, Oncor and IEnova are not regulated by the California Public Utilities Commission. SOURCE Sempra Energy
On Energy Efficiency Day, SoCalGas Shares Ways to Save Money and Energy
LOS ANGELES, Oct. 5, 2018 /PRNewswire/ -- In recognition of the third annual Energy Efficiency Day, Southern California Gas Co. (SoCalGas) today issued a reminder about smart thermostat and appliance rebates that give customers cash back while helping keep natural gas bills low. SoCalGas is among a growing network of advocates, companies, government agencies, utilities and others that will showcase the benefits of energy efficiency during the nationwide Energy Efficiency Day. SoCalGas also offered its customers tips about how to save energy and money during the upcoming home heating season. "Taking simple steps to improve energy efficiency helps reduce heating costs and helps curb emissions linked to climate change," said Dan Rendler, director of customer programs and assistance for SoCalGas. "You can be better prepared for the winter months by taking advantage of rebates on energy-saving appliances and ensuring the safe operation of home furnaces." More than twenty cities, counties, states and universities across the country have already issued proclamations recognizing October 5, 2018 as Energy Efficiency Day, including the City of West Hollywood. "The City of West Hollywood has issued a proclamation to recognize October 5, 2018 as 'Energy Efficiency Day,'" said West Hollywood Mayor John J. Duran, "In West Hollywood, we're taking steps to implement clean power options and reduce energy use in our city facilities. It's essential that we reduce power plant emissions that can harm our health, pollute our air, and warm our climate. On Energy Efficiency Day, we're reminding community members that we can all take steps right now to reduce our energy use with simple actions such as selecting energy efficient appliances, using LED bulbs and turning off lights when not in use, and adjusting thermostats to more efficient settings. Together, we can make greener choices." SoCalGas offers rebates on hundreds of home products that help save energy. Applying for these rebates can be done online in a matter of minutes. Among the most popular are smart thermostats. These devices can learn your schedule and temperature preferences and adjust the temperature in your home accordingly. They also allow users to adjust home temperatures with a mobile app or computer and can even use local weather conditions to help control energy costs. Last winter, customers who participated in a smart thermostat energy efficiency pilot program saved enough natural gas to dry two million loads of laundry. SoCalGas also offers a website SoCalGas Marketplace, where customers can find and compare energy efficient products. Customers can save $75 on select smart thermostats and Energy Star natural gas dryers, $200 on select water heaters and up to $75 on select washing machines. Customers can also save money on low-flow showerheads, including those with thermostatic shut-off valves that temporarily cut water flow once the water has become hot. Over its lifetime, an energy efficient appliance will save customers thousands of dollars in energy bills—approximately $1,500 with a tankless water heater, $550 with a natural gas furnace, $200 with a storage water heater and $125 with a smart thermostat. Temperatures in Southern California typically turn cooler in November and can remain cold through March. Lower temperatures are usually accompanied by an increase in home heating bills, but there are ways to save money. Customers can take these steps to reduce their natural gas use during cold weather to help keep energy costs affordable: Set your thermostat to 68 degrees when you are home and 55 degrees when you are not home. Lowering your thermostat three to five degrees can save up to 10 percent on heating costs. Install proper caulking and weather-stripping; this can save roughly 10 to 15 percent on heating and cooling costs. Wash clothes in cold water to save up to 10 percent on water heating costs. Clean or replace your furnace filters according to manufacturer recommendations. Have your air ducts tested for leaks. Leaky ducts can cost between 10 to 30 percent in heating and cooling costs. Turn down the temperature on your water heater. Take shorter showers to reduce your natural gas use. Fix leaky faucets and pipes. Hot water leaks cause increased demand on the water heater, which increases natural gas use. One drop of water per second can waste 500 gallons of hot water per year. Limit use of non-essential natural gas appliances, such as spas and fireplaces. More energy saving tips are located here. In Southern California, natural gas is the most affordable and reliable option for water heating, cooking and space heating. More than 90 percent of residents use natural gas to heat their home and hot water. In addition, more than half of the electricity generated in California is produced using clean burning natural gas. Generating electricity locally using natural gas helps California avoid importing electricity generated with less desirable fuels like coal. SoCalGas is a leader in researching and developing new technologies that improve energy efficiency and protect the environment. In the past five years, SoCalGas energy efficiency programs have delivered more than 146 million therms in energy savings, enough to power 326,000 households a year, and reducing greenhouse gas (GHG) by more than 775,000 metric tons, the equivalent of removing nearly 165,000 cars from the road. These advances have also helped save SoCalGas customers more than $161 million in utility bill costs over the past five years. Customers are also encouraged to sign up for free bill tracking alerts and other online tools to help keep heating affordable this winter. "Bill Tracker Alerts" are an easy way to track natural gas use each week — instead of waiting until the monthly bill arrives — and can help customers use less natural gas and lower their bills. Customers can enroll for Bill Tracker Alerts in My Account. Once enrolled, they can easily access their gas usage information, pay bills, schedule service orders and sign up for Bill Tracker Alerts by visiting "Manage My Account: Manage Alerts." For customers in need of assistance in paying their natural gas bills or in making their homes more energy efficient, SoCalGas offers a range of programs and services. To sign up for these programs and services, or for more information on how to reduce winter gas bills, visit SoCalGas' website at socalgas.com or call (800) 427-2200. Energy Efficiency Day is a collaboration between regional and national organizations aimed at helping individuals and organizations save energy and save money. Customers can find out how to participate by visiting energyefficiencyday.org. About SoCalGas Headquartered in Los Angeles, SoCalGas ® is the largest natural gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable natural gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Natural gas delivered through the company's pipelines also plays a key role in providing electricity to Californians—about 60 percent of electric power generated in the state comes from gas-fired power plants. SoCalGas is committed to investing in its natural gas system infrastructure, while keeping bills affordable for our customers. From 2013 through 2017, the company spent nearly $6 billion to upgrade and modernize its natural gas system to enhance safety and reliability. The company is also committed to being a leader in the region's clean energy future, and is working to accelerate the use of renewable natural gas from dairy farms, landfills and wastewater treatment plants and the development of renewable energy storage technologies. SoCalGas is a subsidiary of Sempra Energy (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

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

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