Welcome to our dedicated page for Sempra Energy news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra Energy stock.
Sempra (NYSE: SRE) generates frequent news as a North American energy infrastructure company with major regulated utilities and large-scale energy projects. Public announcements often highlight developments at its California utilities, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas), as well as at its Texas affiliate Oncor Electric Delivery Company LLC and its LNG-focused Sempra Infrastructure businesses.
Investors following SRE news can expect regular updates on quarterly earnings, dividend declarations, regulatory proceedings and capital plans. Recent press releases have covered common and preferred dividend announcements, detailed quarterly financial results, and guidance updates. Sempra also issues news about strategic transactions, such as the agreement to sell a 45% equity interest in Sempra Infrastructure Partners to a KKR-led consortium, which is designed to support its utility-focused capital campaign and adjust its business mix.
Subsidiary-level news is also significant. SDG&E has reported recognition for reliability performance in the Western Region and described investments in grid enhancements, safety programs and wildfire mitigation. SoCalGas issues releases on preferred stock dividends and provides background on its role as a large gas distribution utility in Central and Southern California. Oncor regularly reports its quarterly results, capital spending plans and progress on major transmission and distribution projects across Texas.
News related to Sempra Infrastructure often focuses on LNG projects, including final investment decisions, long-term offtake agreements and investor equity arrangements for projects such as Port Arthur LNG Phase 2. Together, these updates give readers insight into how Sempra manages regulatory issues, funds large capital programs and advances energy infrastructure projects. This page aggregates such company and subsidiary announcements so readers can review the latest SRE-related developments in one place.
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.
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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.
On January 30, 2023, SoCalGas unveiled the [H2] Innovation Experience in Downey, California. This innovative microgrid utilizes renewable hydrogen to power over 100 homes continuously for up to seven days, showcasing California's commitment to clean energy and decarbonization. The project draws solar energy, converts it into hydrogen for storage, and utilizes it for various household appliances. SoCalGas aims for net-zero greenhouse gas emissions by 2045, bolstered by initiatives like the Angeles Link green hydrogen pipeline. The project has received accolades such as Fast Company's World-Changing Ideas Award for its sustainable vision.
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.
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Southern California Gas Co. (SoCalGas) has announced a $1 million contribution to the Gas Assistance Fund to support income-qualified customers struggling with rising natural gas bills. The contribution comes as bills may double compared to last year due to significant increases in natural gas prices driven by cold temperatures, high demand, and reduced supply. SoCalGas encourages customers to utilize energy-saving tips and its free Ways to Save tool to manage and potentially lower their energy costs.