SoCalGas' Energy Efficiency Programs Save Customers More Than $95 Million in 2024
Rhea-AI Summary
SoCalGas (NYSE:SOCGP) reported significant achievements in its energy efficiency programs for 2024, helping customers save over $95 million on utility bills. The company's initiatives resulted in savings of 50 million net therms of energy, equivalent to the annual natural gas consumption of 125,000 California homes, while avoiding 260,000 metric tons of CO2 emissions.
Through its Marketplace and GoGreen programs, SoCalGas facilitated nearly $67 million in facility and appliance improvements. The company's water conservation efforts saved over 1 billion gallons of water in 2024, with an expected lifetime savings of 11 billion gallons. SoCalGas manages over 70 energy-efficiency programs and engaged with more than 2 million customers in 2024.
[ "Customer savings of over $95 million on utility bills in 2024", "Energy savings of 50 million net therms, equivalent to 125,000 homes' annual usage", "Facilitated $67 million in facility and appliance improvements", "Water conservation efforts saved over 1 billion gallons in 2024", "Engagement with more than 2 million customers through various programs", "Received ENERGY STAR Partner of the Year Award and Climate Registry's Organizational Leadership Award" ]Positive
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On the day this news was published, SOCGP declined NaN%, reflecting a moderate negative market reaction.
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"Our energy efficiency programs help give Californians practical ways to lower their energy use and reduce costs," said Andy Carrasco, vice president, communications and regional stakeholder engagement at SoCalGas. "Every therm saved represents a family that can heat their home more affordably, a small business that can run more efficiently or a school that can now spend more on students and less on energy costs."
To make energy efficiency upgrades more accessible, SoCalGas has expanded financing through its Marketplace and GoGreen programs, which together helped support nearly
"Thank you to SoCalGas for being a strong community partner,"
SoCalGas currently administers over 70 customer-facing energy-efficiency programs, providing incentives and services to residential, commercial, industrial, agricultural, and public customers. Through direct installations, property assessments, and outreach, the company engaged more than 2 million customers in 2024, while educational programs reached over 30,000 students.
In April 2024, SoCalGas was recognized for the second consecutive year with the ENERGY STAR Partner of the Year Award in
Learn more about SoCalGas' energy efficiency programs and ways to save at https://www.socalgas.com/savings. Read the full report at https://www.socalgas.com/regulatory/efficiency.
About SoCalGas
SoCalGas is the largest gas distribution utility in
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) California Public Utilities Commission (CPUC), U.S. Department of Energy,
These risks and uncertainties are further discussed in the reports that the company has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor Electric Delivery Company LLC (Oncor) and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, San Diego Gas & Electric Company or Southern California Gas Company, and Sempra Infrastructure, Sempra Infrastructure Partners, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.
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SOURCE Southern California Gas Company
