Sempra reports developments for a North American energy infrastructure company centered on regulated utility networks in California and Texas. Recurring news includes Sempra earnings, operational and financial results from Oncor, and updates from Southern California Gas Company and San Diego Gas & Electric on natural gas delivery, underground storage, grid reliability, customer affordability and energy resilience.
Company updates also cover utility capital plans, rate and regulatory mechanisms, customer growth, preferred dividend actions at SoCalGas, and capital-structure activity tied to financing energy infrastructure across Sempra's utility businesses.
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.
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The Greater Los Angeles African American Chamber of Commerce (GLAAACC) honored SoCalGas with the 'Utility of the Year' award at its 29th Annual Economic Awards Dinner. SoCalGas has notably increased its supplier spending with African American-owned businesses by over 50% in two years, totaling $134 million spent with 71 firms in 2022. The company exceeded the California Public Utilities Commission's diverse spending goals for the 30th consecutive year, with over $1 billion spent on diverse businesses. SoCalGas aims for 45% of its supplier spend to be with diverse businesses by 2025, continuing its commitment to economic inclusion.
San Diego Gas & Electric (SDG&E) has unveiled California's first public DC fast chargers designed specifically for medium and heavy-duty vehicles at a truck stop near the U.S./Mexico border. Located just north of Otay Mesa Port of Entry, these 250-kilowatt chargers charge medium-duty trucks from 20% to 80% in about an hour, enhancing electric vehicle infrastructure in the region. Funded by a $200,000 grant, the initiative supports California's goal of transitioning to zero-emission vehicles. SDG&E aims to reduce air pollution and promote sustainable transportation solutions in collaboration with local and state officials.
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