Sempra Energy Stock Price, News & Analysis

Sempra (NYSE: SRE) will release its second-quarter 2022 earnings on August 4 at 7 a.m. ET. A conference call for investors and analysts is scheduled for 12 p.m. ET on the same day, with a live webcast available on the company's website. A slide presentation detailing the earnings will be posted prior to the call. Sempra is recognized as a leader in energy infrastructure and sustainability, serving nearly 40 million consumers and managing over $72 billion in total assets.

On July 1, 2022, Southern California Gas Co. (SRE) announced expanded eligibility for its Energy Savings Assistance Program. New guidelines raise income limits to 250% of federal poverty levels, allowing more customers to qualify for no-cost energy-efficient home improvements. This change could benefit families earning up to $69,375 annually. The program offers services like furnace repairs and insulation, potentially saving customers up to 20% on their natural gas bills. However, the program's budgets often remain underutilized, with hundreds of millions unspent each year.

Southern California Gas Co. (SoCalGas) announced the awarding of scholarships totaling over $300,000 to 25 students from Central and Southern California. The scholarships, administered through a partnership with Scholarship America, are aimed at minority students majoring in STEM, accounting, and finance. Each scholarship is renewable for up to three years, with recipients evaluated based on academic achievements and community involvement. Since 2001, SoCalGas has awarded over $3 million in scholarships to more than 2,200 students, supporting diversity and education in underserved communities.

San Diego Gas & Electric has received approval from the California Public Utilities Commission to install four microgrids in the San Diego region, enhancing its energy storage capacity by approximately 39 megawatts and 180 megawatt-hours. These projects aim to provide reliable power during peak energy demands and outages, especially in critical facilities like schools and fire stations. Scheduled for completion in summer 2023, this investment follows previous energy storage facilities opened in 2021 and 2022. The initiative underscores SDG&E's commitment to sustainable energy solutions in response to climate challenges.

Sempra Infrastructure has signed a heads of agreement (HOA) with INEOS Energy Trading for a long-term LNG supply, committing to approximately 1.4 million tonnes per annum from its Gulf Coast LNG projects. The HOA set the stage for a definitive 20-year LNG sale and purchase agreement potentially sourced from the Port Arthur LNG or Cameron LNG Phase 2 projects. This move aims to enhance energy security and support lower-carbon energy sources. The Port Arthur project, with all major permits obtained, is expected to produce about 13.5 Mtpa of LNG, while Cameron LNG Phase 2 aims for a maximum capacity of 6.75 Mtpa.

Southern California Gas Co. (SoCalGas) reported a 37% reduction in fugitive methane emissions for 2021, surpassing California's 2025 target of 20% reduction and nearing the 40% target for 2030. This achievement is attributed to innovations in detection technologies, including aerial methane mapping and the use of drones. Significant accomplishments include a 94% reduction in gas venting during maintenance and a 92% reduction in emissions from storage facilities since 2015. SoCalGas aims for net-zero greenhouse gas emissions by 2045.

SoCalGas has awarded $525,000 in grants to 162 independently owned restaurants across California to aid recovery efforts. Each restaurant receives a $3,000 grant for equipment upgrades and employee retention. The funding is part of the Restaurants Care Resilience Fund, which SoCalGas co-funds with other partners. SoCalGas aims to invest $50 million over five years in diverse community initiatives, supporting local restaurants that play a vital role in economic growth and cultural vibrancy.

Southern California Gas Co. (SoCalGas) received a $750,000 grant from the California Energy Commission to develop a hydrogen production system using biogas. This innovative project aims to produce affordable, scalable renewable hydrogen at a cost of $1.39 per kilogram, reducing emissions by up to 95%. Powered by renewable electricity, the project will eliminate combustion emissions and capture co-products for various applications. Testing is set to commence in 2023, advancing SoCalGas's goal to achieve net-zero emissions by 2045.

Southern California Gas Co. (SoCalGas) has completed energy efficiency upgrades at The Concord senior living community in Pasadena, funded by $108,000 from the Whole Building Program. The project replaces an outdated hot water system, saving over 4,000 therms of energy annually, equating to the energy used by 11 homes for a year. Over five years, the upgrades are expected to save approximately $35,000. SoCalGas has generated over $1 billion in avoided energy costs and 219 million therms in savings over the last five years, supporting California's energy conservation goals.