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 reports developments for a North American energy infrastructure company centered on regulated utility networks in California and Texas. Recurring news includes Sempra earnings, operational and financial results from Oncor, and updates from Southern California Gas Company and San Diego Gas & Electric on natural gas delivery, underground storage, grid reliability, customer affordability and energy resilience.
Company updates also cover utility capital plans, rate and regulatory mechanisms, customer growth, preferred dividend actions at SoCalGas, and capital-structure activity tied to financing energy infrastructure across Sempra's utility businesses.
SoCalGas announced a $75,000 grant to three NAACP branches to support college scholarship programs, benefiting 15 students with $5,000 each. The scholarships will assist with tuition, books, and housing. SoCalGas has partnered with the NAACP for over 20 years and aims to alleviate financial burdens for students during challenging times. The initiative reflects SoCalGas's commitment to social equity and community support, having doubled its charitable spending in Black communities last year. The grants will be awarded through the NAACP's established scholarship selection process.
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On January 29, 2021, Southern California Gas Co. (SoCalGas) was recognized by the Utility Analytics Institute (UAI) as the most innovative utility in data analytics among over 150 competitors. The award highlights SoCalGas' advancements in using data to enhance safety, save costs, and promote energy conservation. Notably, data initiatives have resulted in annual savings of over $64 million for customers and a reduction of nearly 193,000 metric tons of greenhouse gas emissions. The company continues to prioritize safety and efficiency through targeted data-driven strategies amidst COVID-19.
On January 27, 2021, Southern California Gas Co. (SoCalGas) and the San Gabriel Valley Council of Governments (SGVCOG) presented the 2020 Energy Champion Awards. The awards recognized 13 cities and one school district for their energy efficiency efforts, with categories including bronze, silver, and gold. Notable projects saved significant energy, such as the City of San Gabriel's initiative saving 14,074 therms. SoCalGas offers rebates for energy-efficient appliances, promoting sustainability in California's climate goals.
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.