Sempra Energy Stock Price, News & Analysis

Southern California Gas Company (SoCalGas) is investing approximately $650,000 in a $3.2 million project to test Isothermal Water Vapor and CO₂ Capture (IWVC) technology that captures carbon dioxide while collecting reusable water for irrigation. The project, supported by the U.S. Department of Energy, aims to demonstrate the technology's efficiency and cost-effectiveness. If successful, this system could generate 15 million gallons of water daily and remove 1.8 million tons of CO₂ annually, supporting California's net-zero climate goals.

Southern California Gas Co. (SoCalGas) has partnered with People Assisting The Homeless (PATH) and LA Family Housing (LAFH) as part of Project Homekey, aimed at relocating homeless individuals into permanent housing. To date, SoCalGas has contributed over $300,000 towards energy efficiency programs benefiting over 650 Project Homekey units. The initiative, supported by $2.75 billion in federal funds, aims to create sustainable housing solutions. SoCalGas has implemented energy-saving measures across multiple sites, providing significant savings on utility bills for residents.

Oncor Electric Delivery Company reported a net income of $258 million for Q3 2021, unchanged from Q3 2020. Revenue growth stemmed from base transmission and distribution rate updates, despite rising operational expenses and reduced miscellaneous revenues. For the nine months ending September 30, 2021, net income increased to $595 million from $565 million the previous year. Oncor plans to invest a record $15 billion over five years to enhance Texas's electric grid infrastructure. The company aims for a 27.6 billion rate base by 2026, reflecting an 8% annual growth rate.

Sempra reported a third-quarter 2021 loss of $648 million, or $2.03 per diluted share, due to a $1.1 billion charge related to the Aliso Canyon leak. Adjusted earnings were $545 million, or $1.70 per share, up from $432 million, or $1.49 per share, year-over-year. For 2021, the company updated its GAAP EPS guidance to $3.01 to $3.61 and adjusted EPS guidance to $7.75 to $8.35. In Texas, Oncor's capital plan reached $15 billion, supporting economic growth, while Sempra sold a 20% stake in Sempra Infrastructure for $3.37 billion to fund future growth.

Southern California Gas Co. (SoCalGas) has inaugurated a new renewable natural gas (RNG) fueling station in Menifee, California, the sixteenth station it operates. This initiative aligns with SoCalGas' commitment to achieving net zero emissions by 2045. RNG usage as a transportation fuel in California has surged by 177% over the past five years, with more than 92% of natural gas trucks in the state powered by RNG. The new station supports emission reduction efforts in the heavy-duty transportation sector while enhancing community energy options.

Southern California Gas Co. (SoCalGas) has announced energy-saving tips for customers as winter approaches, amid rising natural gas prices nationwide. The cooler temperatures have led to increased gas usage, with bills potentially rising three to seven times. SoCalGas claims its programs saved customers $44 million and cut greenhouse gas emissions by 211,000 metric tons. Customers are advised to utilize energy-efficient practices, such as lowering thermostats and fixing leaks, to manage costs effectively.

Sempra Foundation has donated nearly $500,000 to Fundación Mozcalti to provide cleaner cook stoves to over 20,000 individuals in 28 vulnerable communities in Mexico. This initiative aims to enhance energy access and reduce emissions by replacing traditional stoves, cutting firewood consumption by 9,000 tons annually. The portable cook stoves will benefit approximately 2,400 households across several states, addressing health issues caused by smoke exposure and supporting economic development through local food sales. This project reflects Sempra Foundation's commitment to improving lives and building resilient communities.

A new technical analysis by Southern California Gas Co. (SoCalGas) emphasizes the vital role of clean fuels, including hydrogen and renewable natural gas, in achieving California's net zero emissions target by 2045. The report outlines affordable strategies leveraging existing gas infrastructure, highlighting electrification paired with clean fuels as the most resilient path. Key findings suggest a clean fuels network can save the state between $45 billion to $75 billion in transition costs, while addressing challenges in hard-to-abate sectors. Collaboration is critical for timely decarbonization efforts.

Southern California Gas Co. (SoCalGas) has opened the application window for its 2021 SoCal Climate Champions Grant program, offering $400,000 in grants to non-profit organizations dedicated to climate solutions in Southern California. Nonprofits can apply until November 5, 2021. Recipients will receive grants ranging from $40,000 to $50,000 and additional resources, including support from SoCalGas volunteers. Since its inception in 2015, the grant program has benefited 150 nonprofits with $2 million in funding.