Sempra Energy Stock Price, News & Analysis

Southern California Gas Co. (SoCalGas) announced a collaboration with GTI Energy to investigate hydrogen blending in commercial and industrial processes, targeting emissions reduction and achieving net-zero goals. The project, funded with $752,000 from SoCalGas and a prior $1.77 million grant from the California Energy Commission, aims to assess the feasibility of using up to 100% hydrogen blended with natural gas in hard-to-electrify sectors such as steelmaking and agriculture. Neil Navin, SoCalGas's chief clean fuels officer, emphasized the importance of this initiative in decarbonizing heavy industries. The initiative is part of SoCalGas's broader strategy to foster clean energy solutions, including the proposed Angeles Link hydrogen pipeline, which has received CPUC approval for cost-tracking. This project is expected to contribute significantly to California's energy transition.

On April 24, 2023, Southern California Gas Company (SOCGP) announced an additional $200,000 in grants through its SoCal Climate Champions Grant program, aimed at supporting innovative climate solutions in California. Five non-profit organizations will receive $40,000 each to advance local projects promoting climate resilience and clean energy as part of the company's ASPIRE 2045 sustainability strategy. Since its inception, the grant program has awarded $600,000 in total, with another $400,000 available for this year’s applications running until June 23. Key projects include community composting initiatives and sustainable agricultural practices to reduce greenhouse gas emissions.

Sempra's subsidiary, Oncor Electric Delivery Company, plans to release its Q1 2023 results on May 4, prior to Sempra's own conference call. The earnings release can be accessed on Oncor's website. A conference call is scheduled for 12 p.m. ET on the same day, where Sempra executives will discuss Oncor's operational and financial outcomes. Interested parties can register for a live webcast on Sempra's Investor section, and a replay will be accessible shortly after the event. Additionally, Oncor's Quarterly Report on Form 10-Q will be filed with the SEC after the conference call, and it will also be available on Oncor's website.

Sempra (NYSE: SRE) will release its first-quarter 2023 earnings on May 4, 2023, at 7 a.m. ET. A conference call is scheduled for the same day at 12 p.m. ET, allowing investors and the public to join via a live webcast available on the company's Investors section of its website. A detailed slide presentation regarding the earnings will also be published on the Investors site by 7 a.m. ET on the same day. For those unable to attend, the webcast will be available for replay a few hours after the event concludes. Sempra serves nearly 40 million consumers across North America, focusing on electrification and decarbonization, and is recognized for its sustainable business practices and operational excellence.

SoCalGas has announced the opening of applications for the 2023 Restaurants Care Resilience Fund, providing $5,000 grants to 177 independent restaurants in its service area. This initiative, which runs from April 15 to May 7, is part of a larger commitment where SoCalGas donated $1 million earlier this year, raising the total fund to $2.1 million. The Resilience Fund aims to assist restaurants with technology adoption, equipment upgrades, and employee retention. Since 2021, the fund has awarded 788 grants, with a significant portion benefiting women and minority-owned businesses in California. The company's funding aligns with its broader ASPIRE 2045 sustainability goals, which include investing $50 million in underserved communities over five years.

San Diego Gas & Electric (SDG&E) is applying for up to $100 million in federal funds from the Department of Energy to support wildfire hardening initiatives around Tribal lands. If awarded, this grant would be matched by an additional $100 million from SDG&E, totaling $200 million for these efforts. The funding aims to improve energy infrastructure and enhance safety by undergrounding 64 miles of power lines and covering 6 miles with protected conductors, benefiting 10 Tribal communities. Pending approval from the California Public Utilities Commission, construction is expected between 2024 and 2026. SDG&E is also pursuing additional funding through various legislative measures to reduce customer costs amid a changing climate.