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.
Sempra (NYSE: SRE) will release its third-quarter 2022 earnings on November 3 at 7 a.m. ET. A conference call is scheduled for the same day at 12 p.m. ET, where investors and the public can join via a live webcast. A detailed earnings presentation will be available prior to the call on Sempra's website. The company aims to be North America's premier energy infrastructure firm, with over $72 billion in assets and a commitment to sustainability and cleaner energy sources across the region.
The San Diego Gas & Electric (SDG&E) has commenced testing for its new 40 MW energy storage facility in location value="LU/us.ca.falook"Fallbrook and started construction on a microgrid project that will add 39 MW of battery capacity. Currently, SDG&E has approximately 95 MW of utility-owned energy storage and over 200 MW in development. These innovations are essential for enhancing grid resilience, especially during peak demand, as seen during the recent heatwave in California.
AVANGRID and Sempra Infrastructure have signed a heads of agreement (HOA) to potentially develop large-scale U.S. green hydrogen and ammonia projects utilizing renewable sources. This collaboration aims to address energy needs and promote decarbonization both domestically and internationally. The HOA serves as a framework for identifying and appraising such projects. However, the agreement is non-binding, carrying risks related to regulatory approvals and investment decisions.
Sempra (NYSE: SRE) announced a contribution of up to $100,000 to the American Red Cross to aid recovery from Hurricane Ian. This includes a $50,000 donation for critical services and a matching contribution for employees' donations. Oncor Electric Delivery, majority-owned by Sempra, dispatched 500 personnel to Florida to assist in restoration efforts. The hurricane caused extensive damage, leaving many homes uninhabitable. The financial pledge will directly support Red Cross relief efforts, providing shelter and supplies to thousands affected.
San Diego Gas & Electric urges customers to prepare for possible wildfires and Public Safety Power Shutoffs (PSPS) during the Santa Ana wind season, running from September to December. The company has made significant advancements in wildfire mitigation, including undergrounding nearly 50 miles of power lines and installing sectionalizing devices to minimize outage sizes for over 7,000 customers in high-risk areas. SDG&E's infrastructure improvements have included hardening over 430 miles of overhead lines and enhancing situational awareness with advanced weather monitoring technologies.
Southern California Gas Co. (SoCalGas) announced the successful production of renewable hydrogen for its [H2] Innovation Experience microgrid project in Downey. This milestone marks the first kg of hydrogen produced on-site, aiming to support California's clean energy goals. The microgrid can power residential areas using solar energy and blended hydrogen with natural gas in home appliances. The project aligns with SoCalGas's commitment to achieve net-zero greenhouse gas emissions by 2045, showcasing the potential of renewable hydrogen in enhancing energy reliability and sustainability in the region.
Assembly Bill 847, signed by Governor Gavin Newsom, mandates a transition to non-electrically conductive foil balloons in California to mitigate fire hazards and power outages caused by traditional foil balloons. As highlighted by SDG&E, these balloons cause approximately 100 outages and 3-4 reportable fires annually. The phase-in schedule for compliance is set to begin soon, requiring manufacturers to pass testing standards established by IEEE by January 1, 2027, or after the final standard is approved. This initiative aims to improve safety amidst rising wildfire risks.
SoCalGas has announced a multi-million-dollar collaboration with Landi Renzo USA to convert an additional 200 Ford F-250 service pickup trucks to run on renewable natural gas (RNG). This expansion will increase the clean fuel-powered portion of SoCalGas' fleet to approximately 44%, helping to reduce an additional 2,000 metric tons of CO2 equivalent emissions. The initiative aligns with SoCalGas' mission to achieve net-zero greenhouse gas emissions by 2045 and to deliver 20% renewable natural gas by 2030. The project is expected to be completed by the end of the year.
San Diego Gas & Electric (SDG&E) has submitted a proposal to the California Public Utilities Commission for a project at UC San Diego to study hydrogen blending with natural gas. This project aims to explore how up to 20% hydrogen can be injected into existing gas infrastructure, supporting California's carbon neutrality goal by 2045. If approved, the project will begin construction in Q2 2024 and focus on safety, public outreach, and research collaboration. Hydrogen's use is pivotal for a clean energy future, leveraging California's renewable resources while stimulating economic growth.
Southern California Gas Co. (SoCalGas) and UC Irvine have announced a collaboration on a hydrogen blending project aimed at integrating electrolytic hydrogen into existing natural gas infrastructure. This project seeks to advance California's clean energy goals by demonstrating how renewable hydrogen can be blended and delivered through current gas systems. If approved, testing could start in 2024, initially blending 5% hydrogen, with plans to increase this to 20%. This innovative approach could potentially reduce CO2 emissions equivalent to removing over a million vehicles from the road.