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) was honored as the Corporate Member of the Year by the Los Angeles Area Chamber of Commerce on Jan. 19, 2021. This recognition highlights SoCalGas's commitment to economic growth, demonstrated through initiatives like a virtual job fair with over 1,000 registrants and support for small businesses. SoCalGas, led by Denita Willoughby, contributed significantly to community partnerships and plans to continue its efforts in providing affordable and sustainable energy solutions while enhancing the local economy.
SoCalGas has awarded $150,000 in grants to the cities of Compton, Anaheim, and Palmdale as part of its Climate Adaptation and Resiliency Planning Grant program. Each city will receive $50,000 to enhance local planning efforts against climate change risks like extreme heat, wildfires, and flooding. Over the past three years, SoCalGas has distributed $400,000 through this initiative. Cities will use the funds to update safety and general plans, with a focus on community vulnerabilities and sustainable development. SoCalGas aims to support renewable energy projects and resilience strategies while reducing greenhouse gas emissions.
Southern California Gas Co. (SoCalGas) partnered with The Salvation Army for the Rescue Christmas 2020 event on December 21 and 22, benefiting over 1,000 families in Riverside County impacted by COVID-19. This initiative highlights a significant 300% increase in families seeking assistance due to pandemic hardships. SoCalGas emphasizes community support, having donated over $3.2 million for COVID-19 recovery efforts. They also shared information on the California Alternate Rate for Energy (CARE) program, which helps families save on utility bills.
SoCalGas and LADWP have partnered to distribute over 150,000 free energy and water efficiency kits to Los Angeles residents. These kits aim to conserve approximately 3.5 million therms of natural gas and 46,000 gallons of water annually. Each kit includes devices like water-efficient showerheads and faucet aerators. SoCalGas has achieved over 195 million therms in energy savings through similar programs over the past five years, saving customers over $217 million in utility costs. The initiative supports the goal of reducing environmental impact and promoting sustainable practices.
Southern California Gas Co. (SoCalGas) commended the U.S. Green Building Council for incorporating renewable natural gas (RNG) into its LEED certification standards. RNG, a low-carbon fuel created from waste, will enable projects to earn LEED points by using or sourcing biogas. SoCalGas aims to provide RNG to its 22 million customers, seeking approval from the California Public Utilities Commission. The company aims for 5% renewable gas by 2022 and 20% by 2030, aligning with California's environmental objectives.
The California Public Utilities Commission has approved SoCalGas and SDG&E's Renewable Natural Gas (RNG) Tariff, enabling households and businesses to purchase RNG. This initiative aligns with California's climate goals, supporting efforts to achieve carbon neutrality. RNG, derived from organic waste, is recognized for its potential in removing CO2 from the atmosphere affordably. SoCalGas commits to delivering 20% RNG to its core customers by 2030, emphasizing the importance of decarbonizing fuels for California's energy system.
Southern California Gas Co. (SoCalGas) announced plans to field test new technology for separating and compressing hydrogen from a hydrogen-natural gas blend. This technology, developed by HyET Hydrogen, aims to facilitate the transport of hydrogen via existing natural gas pipelines, making it accessible for fuel cell electric vehicles (FCEVs). Scheduled to begin in March 2021, the testing will optimize the Electrochemical Hydrogen Purification and Compression (EHPC) system, with a goal of producing 100 kg of hydrogen daily within two years. The initiative aligns with California's clean energy objectives.
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On December 15, 2020, Southern California Gas Co. (SoCalGas) announced a partnership with STEAM:CODERS to enhance educational resources for underserved K-12 students in Los Angeles, Inglewood, Gardena, and Claremont. The collaboration involves a donation of 140 laptops and 120 hotspots to benefit 1,115 students. SoCalGas has previously contributed over $3.2 million for COVID-19 recovery efforts, focusing on educational support and community relief initiatives.
On December 15, 2020, Southern California Gas Co. (SoCalGas) announced its innovative H2 Hydrogen Home project aimed at demonstrating hydrogen's potential in achieving California's carbon neutrality goal. This pioneering project includes solar panels, an electrolyzer for producing clean hydrogen, and a fuel cell for energy conversion. It underscores SoCalGas's commitment to becoming the cleanest energy provider in America. The H2 Hydrogen Home is set for completion by late 2021, aiming to showcase how hydrogen can enhance renewable energy storage.