Welcome to our dedicated page for South Calif Gas news (Ticker: SOCGP), a resource for investors and traders seeking the latest updates and insights on South Calif Gas stock.
The news feed for STHN CAL GAS 6 A PR (SOCGP) focuses on developments at Southern California Gas Company (SoCalGas), the gas distribution utility whose preferred stock series includes SOCGP. SoCalGas describes itself as the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California, and is a subsidiary of Sempra.
Investors following SOCGP can use this page to track SoCalGas news that may be relevant to the utility’s operations, regulatory environment, and community activities. Recent press releases include recurring announcements of regular quarterly dividends on SoCalGas preferred stock and Preferred Stock, Series A, which encompass the preferred series associated with SOCGP. These dividend declarations provide direct information on cash distributions approved by the SoCalGas board of directors for its preferred stockholders.
Beyond dividends, SoCalGas news highlights energy-efficiency programs, renewable natural gas procurement under California’s SB 1440, and community initiatives such as wildfire recovery support, small business assistance, hunger relief efforts, and STEM education partnerships. These updates illustrate how the company is engaging with regulatory programs, responding to climate and energy policy in California, and working with local organizations.
Because SoCalGas operates in a regulated environment overseen by the California Public Utilities Commission, company news often intersects with regulatory decisions and policy developments that can influence its long-term outlook. By reviewing the SOCGP news stream, readers can monitor official SoCalGas communications that may inform their understanding of the utility’s risk profile, strategic initiatives, and ongoing ability to support preferred stock dividends.
Sempra Infrastructure announced a long-term sale and purchase agreement with PKN ORLEN for liquefied natural gas (LNG) from the Port Arthur LNG Phase 1 project in Jefferson County, Texas. PKN ORLEN will purchase approximately 1 million tonnes per annum (Mtpa) of LNG for 20 years, fully subscribing the project's off-take capacity at 10.5 Mtpa under binding contracts. This agreement strengthens PKN ORLEN's energy security in Central Europe. Sempra aims to make a final investment decision (FID) in Q1 2023, with first cargo deliveries expected in 2027. The project includes two liquefaction trains, allowing significant LNG production capacity.
Southern California Gas Co. (SoCalGas) has received the Sustainable Innovation Award from the U.S. Green Building Council - Los Angeles for its [H2] Innovation Experience project in Downey, California. Recognized for its commitment to sustainability, this microgrid project integrates clean hydrogen production and storage with renewable energy sources, demonstrating potential for reliable energy solutions. SoCalGas aims for net-zero greenhouse gas emissions by 2045 and has previously won accolades for transformative sustainability measures in the energy sector.
Southern California Gas has partnered with Emerson to showcase its innovative residential microgrid, the [H2] Innovation Experience, in Southern California. This project, one of the first of its kind in the U.S., integrates renewable hydrogen production through solar energy, enabling carbon-free gas utilization in home energy systems. The setup includes a solar array, energy storage, and an electrolyzer. This initiative aligns with California's goals for net-zero emissions, supporting sustainable power demand and highlighting advanced automation technologies.
Southern California Gas Co. (SoCalGas) announced the successful production of renewable hydrogen for its [H2] Innovation Experience microgrid project in Downey. This milestone marks the first kg of hydrogen produced on-site, aiming to support California's clean energy goals. The microgrid can power residential areas using solar energy and blended hydrogen with natural gas in home appliances. The project aligns with SoCalGas's commitment to achieve net-zero greenhouse gas emissions by 2045, showcasing the potential of renewable hydrogen in enhancing energy reliability and sustainability in the region.
San Diego Gas & Electric (SDG&E) has submitted a proposal to the California Public Utilities Commission for a project at UC San Diego to study hydrogen blending with natural gas. This project aims to explore how up to 20% hydrogen can be injected into existing gas infrastructure, supporting California's carbon neutrality goal by 2045. If approved, the project will begin construction in Q2 2024 and focus on safety, public outreach, and research collaboration. Hydrogen's use is pivotal for a clean energy future, leveraging California's renewable resources while stimulating economic growth.
SoCalGas recently announced a $100,000 donation to the GLAAACC Education Fund for STEM scholarships. The announcement coincided with Jeffery Walker, SoCalGas Senior VP, being honored as Corporate Executive of the Year. The fund supports students from local high schools pursuing post-secondary education. SoCalGas has previously donated over $2.9 million in scholarships and aims to invest $50 million into diverse communities over five years as part of its ASPIRE 2045 sustainability goals. Walker also emphasized a 49% increase in spending with African American suppliers.
San Diego Gas & Electric released a study addressing California's challenge to achieve carbon neutrality by 2045. The report emphasizes a diversified decarbonization approach, combining clean electricity, fuels, and carbon removal. Key findings suggest California must decarbonize at 4.5 times the previous decade's pace and increase electric generation capacity fourfold. The study highlights the need for regulatory support to prioritize reliability, affordability, and equity while promoting innovative energy technologies.
Bloom Energy (NYSE:BE) and Southern California Gas Co. (OTC-PINK:SOCGP) are collaborating on a hydrogen project aimed at demonstrating the integration of hydrogen into California's natural gas infrastructure. This initiative, launching at Caltech in Pasadena, will generate hydrogen using Bloom's high-temperature electrolyzer, blending it into the existing natural gas network. The project seeks to aid California in achieving carbon neutrality, showcasing hydrogen's potential for energy resilience and cost-effective storage. The companies emphasize the economic advantages of using less electricity for hydrogen production.
San Diego Gas & Electric Company (SDG&E) released its annual sustainability strategy update, showcasing achievements and setting new net zero greenhouse gas emissions goals by 2045. Key initiatives include operating a 100% zero emissions vehicle fleet by 2035, achieving zero net energy facilities by 2030, and piloting a virtual power plant by 2022. The update highlights significant investments such as $750 million in green bonds to fund projects essential for sustainability, alongside the addition of energy storage facilities and microgrids to enhance grid reliability.
Enervee has launched Eco Financing™, a program designed to enhance affordability for energy-efficient appliance purchases. In partnership with One, SoCalGas, and Best Buy, consumers can access loans up to
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