Sempra Energy Stock Price, News & Analysis

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.

Southern California Gas Co. (SoCalGas) has completed energy efficiency upgrades worth nearly $1 million at One Quail Place Apartments in Palm Desert, benefiting 791 residents. Key improvements include installing 11 high-efficiency boilers and various energy-saving devices, which are projected to reduce energy consumption by nearly 15% and save about 200,000 kilowatt-hours annually. This initiative is part of SoCalGas' Energy Savings Assistance (ESA) program, aimed at helping low-income housing communities while supporting California's climate goals.

Southern California Gas Co. (SoCalGas) has launched its annual initiative to support fleet owners in the South Coast Air Quality Management District (SCAQMD) with incentive funding for transitioning from diesel to near-zero emissions natural gas trucks. A total of $36 million is available through the Carl Moyer Program, with eligible fleet owners able to receive up to $100,000 for each new natural gas truck and fueling station. The application period runs until June 1, 2021. This program aims to reduce California's transportation sector emissions, which account for 40% of the state's greenhouse gas emissions.

Southern California Gas Co. (SoCalGas) reported a record year in 2020, spending over $884.2 million with more than 550 diverse businesses, exceeding the California Public Utilities Commission's goal of 21.5% for the 28th consecutive year. The company procured nearly 42% of total goods from women and minority-owned enterprises. Additionally, SoCalGas marked significant contributions, including $568 million with minority-owned businesses and $243 million with women-owned firms. The company emphasized its continuing commitment to supplier diversity and plans for further investments in diverse suppliers.