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.
Southern California Gas Company (SoCalGas) has proposed the Angeles Link, a groundbreaking green hydrogen infrastructure system aimed at decarbonizing the Los Angeles Basin. This initiative targets a significant reduction in greenhouse gas emissions, displacing up to 3 million gallons of diesel per day and nearly 25,000 tons of smog-forming NOx annually. If approved, the Angeles Link could provide green hydrogen equivalent to 25% of SoCalGas's current natural gas delivery, aligning with California's climate goals and enhancing energy reliability.
The board of directors of Southern California Gas Co. (SoCalGas) has declared a quarterly dividend of $0.375 per share for its preferred series stock, including Series A. This dividend is payable on April 15, 2022, to shareholders of record on March 10, 2022. As the largest gas distribution utility in the U.S., SoCalGas serves 21.8 million consumers across 24,000 square miles of California, emphasizing its role in the state's clean energy transition.
San Diego Gas & Electric (SDG&E) has received authorization from the California Public Utilities Commission (CPUC) to construct three new energy storage facilities totaling 161 MW and 644 MWh. These facilities aim to enhance energy supply during high-demand periods, benefiting over 100,000 homes for up to four hours. This initiative supports California's climate goals and grid resilience, connecting to the state energy market for balanced supply and demand. SDG&E also plans additional lithium-ion battery projects in Kearny Mesa and Fallbrook.
Southern California Gas Co. (SoCalGas), Young's Commercial Transfer (YCT), and OPAL Fuels showcased the transition of YCT's fleet to renewable natural gas (RNG) during the World Ag Expo. YCT plans to increase its natural gas truck fleet from 80 to 110 by March and aims for 75% conversion to RNG by year's end. RNG significantly reduces emissions and offers cost savings. SoCalGas emphasizes RNG's role in California's climate goals and has facilitated the replacement of over 550 diesel trucks since 2014.
Sempra Infrastructure announced the operational launch of Phase II of the Energía Sierra Juárez (ESJ) wind farm in Tecate, Baja California, generating 263 megawatts (MW) of renewable energy for California. The expansion, which includes 26 new turbines providing 108 MW, supports North American energy integration and is expected to reduce CO2 emissions by nearly 170,000 tons annually. The project has created over 1,700 jobs and reinforces Sempra's commitment to sustainable energy solutions in the region.
Oncor Electric Delivery Company will announce its fourth quarter and year-end results for 2021 on February 25, 2022, prior to Sempra's conference call. The results will be available on oncor.com. Sempra's executives will hold a conference call at 12 p.m. ET on the same day to discuss Oncor's operational and financial outcomes. A slide presentation will precede the call, and a replay will be accessible after its conclusion. Oncor's Annual Report for 2021 will be filed with the SEC post-call and available on its website.
Sempra (NYSE: SRE) will announce its Q4 and full-year 2021 earnings on February 25 at 7 a.m. ET. A conference call for investors and analysts will follow at 12 p.m. ET on the same day. Those interested can tune in via a live webcast on the company's website. A detailed slide presentation regarding the earnings will also be available at 7 a.m. ET on the same day. Sempra emphasizes its commitment to delivering lower-carbon energy solutions and its significant presence in North America, serving over 36 million consumers.
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Southern California Gas Co. (SoCalGas) announced the winners of its 2021 Climate Champions Initiative, awarding a total of $400,000 in grants to 10 nonprofits aiming to promote clean energy solutions. The grants, part of SoCalGas's commitment to advancing climate initiatives, will fund projects that include the development of low-cost energy storage using desalination waste and educational programs on sustainability. Since 2015, the initiative has provided nearly $2.5 million in funding to over 150 organizations.
On January 31, 2022, Sempra (NYSE: SRE) and Mexico's Federal Electricity Commission (CFE) signed a non-binding memorandum of understanding (MOU) focused on developing key projects. These include the Vista Pacífico LNG project in Topolobampo and a natural gas regasification facility in La Paz, along with resuming operations of the Guaymas-El Oro pipeline. The MOU aims to enhance CFE's natural gas supply capabilities, support low-cost electricity, and bolster Mexico's position in global LNG markets.