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.
On April 19, 2021, San Diego Gas & Electric (SDG&E) announced advancements in its sustainability strategy, committing to reach net zero greenhouse gas (GHG) emissions by 2045. Key initiatives include developing two hydrogen pilot projects, enhancing battery storage facilities, and launching a vehicle-to-grid pilot with electric school buses. SDG&E aims to expand its energy storage capacity to 135 MW and increase electric vehicle charging infrastructure. These efforts align with local climate objectives, promoting clean energy innovations and collaboration within the community.
Sempra Energy (NYSE: SRE) plans to discuss Oncor Electric Delivery Company's first quarter 2021 results during a conference call on May 5 at 12 p.m. ET. The earnings release will be available on Oncor's website prior to the call. The report will cover operational and financial results for the period ended March 31, 2021. Following the call, Oncor's Quarterly Report on Form 10-Q will be filed with the SEC, and details will also be accessible at oncor.com.
Sempra Energy (NYSE: SRE) is set to announce its first-quarter 2021 earnings on May 5 at 7 a.m. ET. A conference call will follow at 12 p.m. ET, accessible via a live webcast on the company's website. Earnings slide presentation will also be available at 7 a.m. ET the same day. Sempra Energy, with over $66 billion in total assets, serves over 36 million consumers across North America, focusing on lower-carbon energy solutions.
The company is recognized for its commitment to sustainability and has been named one of the "World's Most Admired Companies" for 2021.
Southern California Gas Co. (SoCalGas) announced a new initiative inviting Los Angeles County restaurants to apply for pandemic relief via the Restaurants Care Resilience Fund. The fund offers qualifying restaurants a grant of $3,500 to support recovery from COVID-19 impacts, with applications open until April 18, 2021. This program aims to assist around 125 restaurants, particularly those owned by people of color, by helping cover operational costs and providing a year of support services. SoCalGas has contributed over $4 million to related recovery efforts.
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.