Sempra Energy Stock Price, News & Analysis

Southern California Gas Co. (SoCalGas) has launched the 2021 Fueling Our Communities program, allocating $325,000 to combat food insecurity across 20 underserved communities in Los Angeles County. The initiative aims to provide free meals, groceries, and restaurant gift cards to those in need while supporting local businesses. The program is a continuation from last year, which distributed nearly 40,000 meals and supported approximately 100 local restaurants. The effort reflects SoCalGas's commitment to community welfare amid the ongoing impacts of the COVID-19 pandemic.

Sempra Energy's Mexican subsidiary, IEnova, is set to announce its first-quarter 2021 earnings on April 28 at 6 p.m. ET. Following the earnings release, a conference call with IEnova executives will take place on April 29 at 11 a.m. ET. Investors and the public can access the live webcast on IEnova's website, which will also host briefing materials. IEnova, a major player in Mexico's energy sector, employs over 1,400 individuals and holds approximately $10.5 billion in assets. Sempra Energy operates across North America, boasting over $66 billion in total assets.

Sempra Energy has signed an agreement to sell a 20% interest in its new platform, Sempra Infrastructure Partners, to KKR for $3.37 billion. This values the platform at approximately $25.2 billion including debt. The deal aims to consolidate Sempra's infrastructure investments into a self-funding model, enhancing growth potential in cleaner energy markets in North America. Proceeds will support Sempra's $32 billion capital program and strengthen its balance sheet. The transaction is expected to close by mid-2021, pending regulatory approvals.

On March 23, 2021, Southern California Gas Co. (SoCalGas) announced a commitment to achieve net zero greenhouse gas emissions by 2045, making it the largest gas distribution utility in North America to set such a target. This initiative aims to eliminate direct and customer-related emissions, aligning with the Paris Climate Agreement. With plans to invest in clean energy solutions and reduce emissions, SoCalGas will implement various milestones, including achieving net zero energy for its new buildings by 2025 and delivering 20% renewable natural gas by 2030.

On March 19, 2021, Southern California Gas Co. (SoCalGas) and Anaergia, Inc. announced the successful flow of renewable natural gas (RNG) from the Rialto Bioenergy Facility into SoCalGas' pipeline system. This facility, located in San Bernardino County, produces up to 985,000 MMBTU/year of RNG from 300,000 tons of landfill waste, reducing greenhouse gas emissions by up to 220,000 metric tons annually. The project aligns with California's climate goals and is part of a broader trend to increase renewable gas production across the state, supporting economic growth and job creation.

Southern California Gas Co. and Anaergia, Inc. have launched a renewable natural gas (RNG) project in Rialto, California, connecting a new pipeline to SoCalGas' system. This facility can produce up to 985,000 MMBTU of RNG annually from 300,000 tons of waste, reducing greenhouse gas emissions by 220,000 metric tons yearly, equivalent to taking 47,500 cars off the road.

This project supports California's climate goals, including SB 1383, and is expected to generate $14.3 billion in economic growth and create over 130,000 jobs in the clean energy sector.

Southern California Gas Co. (SoCalGas) announced it led the U.S. in energy savings among natural gas utilities in 2020, conserving energy equivalent to powering 100,000 homes. The company invested significantly in energy efficiency programs, saving customers over $44 million and reducing greenhouse gas emissions by more than 211,000 metric tons. SoCalGas has helped 1.5 million households and businesses save energy costs, generating over $1 billion in avoided energy costs in the past five years. The utility aims to promote sustainability and reduce natural gas use through various rebate and assistance programs.

Southern California Gas Co. (SoCalGas) has announced $50,000 in grants to support minority female students in STEM through the Society of Extraordinary Women and the Pasadena Delta Foundation. Each organization will receive $25,000 to provide resources for education in science, technology, engineering, and math. The funds will assist in expanding programs, providing internet access, and offering scholarships to underrepresented students. This initiative aligns with SoCalGas's commitment to diversity, equity, and inclusion, aiming to enhance opportunities for students in traditionally male-dominated career paths.

On March 11, 2021, Southern California Gas Co. (SoCalGas) announced a donation of $50,000 to the Latino Restaurant Association (LRA). The funds will support the Feeding Frontliners campaign and a Restaurant Recovery Educational Boot Camp aimed at assisting around 100 minority restaurant owners. The initiative has already provided over 2,700 meals to healthcare workers since its inception in March 2020. SoCalGas has committed more than $3.5 million to various COVID-19 recovery efforts, focusing on community health and education.