Sempra Energy Stock Price, News & Analysis

Southern California Gas Co. (SOCGP) announced a historic $10 million funding initiative to aid customers facing financial challenges due to soaring gas prices this winter. This includes a $5 million contribution to the Gas Assistance Fund, expanding support for thousands of low-income customers. Additionally, $4 million will be dedicated to reviving the Fueling Our Communities program, which provides free meals to those in need, and $1 million will support small restaurant owners through the Restaurants Care Resilience Fund.

The company’s efforts aim to alleviate hardships exacerbated by high gas prices and inflation in Southern California.

Sempra Foundation has announced a $1.1 million donation to Fundación Mozcalti to enhance energy access and reduce emissions for indigenous communities in Mexico. The initiative aims to install cleaner cookstoves and other clean energy assets, benefiting over 40,000 people across more than 60 communities. This follows a previous partnership that resulted in the installation of 2,400 cookstoves. Additional projects include biodigesters and solar energy systems to improve water access in areas like Morelos. The foundation's commitment was recently recognized with the Empresa Socialmente Responsable award.

SoCalGas announced a significant drop in natural gas prices, aligning closer to 2022 figures after unprecedented spikes in January. Contributing factors include improved weather conditions and reduced demand. The restoration of out-of-state pipeline service is poised to boost supply capacity by up to 500 million cubic feet per day. However, natural gas markets remain volatile, influenced by weather changes and ongoing maintenance updates. SoCalGas will file March procurement prices with the California Public Utilities Commission, reflecting the costs incurred for residential and business customers. Customers will see a $50.77 credit on their bills due to accelerated California Climate Credit.

Oncor Electric Delivery Company LLC plans to announce its fourth quarter and year-end 2022 results on February 28, prior to Sempra's (NYSE: SRE) conference call. The earnings release will be accessible on Oncor's website. Following the announcement, Sempra executives will host a conference call at 12 p.m. ET on the same day to discuss Oncor's operational and financial results for the fourth quarter and the full year. A presentation will also be available. Oncor is the largest electricity distribution and transmission entity in Texas, serving over 3.8 million customers with over 140,000 miles of infrastructure.

Sempra (NYSE: SRE) will release its fourth-quarter and full-year 2022 earnings on February 28 at 7 a.m. ET. A conference call will follow at 12 p.m. ET, where executives will discuss the earnings results. Interested parties can access the live webcast through the company's Investors section. An accompanying slide presentation will also be available on the Investors site at the same time. This announcement highlights Sempra's commitment to transparency and investor communication.

SoCalGas customers will receive a one-time California Climate Credit of $50.77 due to high natural gas prices in January. The California Public Utilities Commission (CPUC) approved this credit to be applied in February or March, depending on billing cycles. This acceleration comes as natural gas prices dropped significantly for February but remain higher than last year. SoCalGas emphasizes conservation and offers assistance programs to help customers manage costs. The company does not profit from increased gas prices, as they buy natural gas at market rates without markup, passing the costs to consumers directly.

The board of directors of Southern California Gas Co. declared quarterly dividends of $0.375 per share for its preferred stock, including Series A, payable on April 15, 2023. Shareholders on record as of March 10, 2023 are eligible. As the largest gas distribution utility in the U.S., SoCalGas serves 21.8 million customers across 24,000 square miles in California, focusing on renewable gas services and aiming for net-zero greenhouse gas emissions by 2045. The company is a subsidiary of Sempra (NYSE: SRE).

Southern California Gas Co. (SOCGP) inaugurated North America's first clean hydrogen microgrid on January 30, 2023, with Lieutenant Governor Eleni Kounalakis. The [H2] Innovation Experience aims to provide renewable energy to over 100 homes continuously for up to seven days. CEO Scott Drury emphasized the project’s role in California's clean energy transition, supporting energy reliability and decarbonization. The microgrid, located in Downey, generates hydrogen from solar energy, adhering to LEED Platinum standards, and powers various household appliances. SoCalGas also aims for net-zero emissions by 2045 through projects like the Angeles Link green hydrogen pipeline.