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.
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.
San Diego Gas & Electric Company (SDG&E) released its annual sustainability strategy update, showcasing achievements and setting new net zero greenhouse gas emissions goals by 2045. Key initiatives include operating a 100% zero emissions vehicle fleet by 2035, achieving zero net energy facilities by 2030, and piloting a virtual power plant by 2022. The update highlights significant investments such as $750 million in green bonds to fund projects essential for sustainability, alongside the addition of energy storage facilities and microgrids to enhance grid reliability.
Oncor Electric Delivery Company LLC will release its third quarter 2021 results on November 5, prior to Sempra’s (NYSE: SRE) conference call. The earnings release will be accessible on Oncor's website. A conference call led by Sempra executives will occur at 12 p.m. ET that same day, discussing Oncor's operational and financial performance. Additionally, Oncor's quarterly report for the period ended September 30, 2021 will be filed with the SEC following the call. Oncor delivers electricity to over 3.8 million homes and businesses in Texas.