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 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.
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Sempra Infrastructure announced the amendment of its fixed-price engineering, procurement, and construction (EPC) contract with Bechtel Energy for the Phase 1 liquefaction project at Port Arthur LNG in Texas. The updated contract is valued at approximately $10.5 billion. This milestone is crucial for advancing the project towards a final investment decision, fueled by strong customer interest. The Phase 1 project is set to produce around 13.5 million tonnes per annum of LNG, with further development contingent upon securing necessary agreements and financing.
Southern California Gas Company (SoCalGas) has awarded $50,000 in scholarships to 14 first-generation Latino students pursuing STEM degrees. This initiative, in partnership with the East Los Angeles Community Union (TELACU) Education Foundation, aims to address social inequality and foster higher education access. SoCalGas has supported TELACU with over $660,000 since 1999, reflecting its commitment to community empowerment and creating a qualified workforce. The company's ASPIRE 2045 sustainability goals include investing $50 million over five years in underserved communities.
Sempra (NYSE: SRE) will release Oncor Electric Delivery Company's third quarter 2022 results on November 3, prior to its conference call at 12 p.m. ET. The earnings release will be available on Oncor's website. The call will cover Oncor's operational and financial results, with a live webcast accessible for investors, media, and the public. A slide presentation will accompany the call, and a replay will be available shortly after. Oncor's quarterly report for the period ending September 30, 2022 will be filed with the SEC post-call.
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.