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.
On December 1, 2020, Southern California Gas Co. (SoCalGas) announced a $100,000 donation to aid local food distribution and holiday toy drives in Los Angeles County, marking its commitment to address food insecurity amidst the ongoing COVID-19 pandemic. This contribution is part of a larger initiative where SoCalGas has donated over $3.2 million to more than 200 nonprofits since March 2020. The funds will be distributed among Alma Family Services, MEND, and Mid Valley Family YMCA, significantly supporting communities that have been severely impacted by the pandemic.
Southern California Gas Co. (SoCalGas) announced a partnership with Southeast Community Development Corporation (SCDC) on November 30, 2020, to address the digital divide in South Los Angeles. SoCalGas is donating resources like Chromebooks and internet hotspots to assist 100 students with remote learning. Alongside educational support, the initiative will help eight California State University Dominguez Hills students achieve their teaching credentials through tutoring sessions. This aligns with SoCalGas's ongoing commitment to community support, having donated over $2.74 million for COVID-19 recovery since March.
Southern California Gas Co. (SoCalGas) and San Diego Gas and Electric (SDG&E), subsidiaries of Sempra Energy, unveiled a Hydrogen Blending Demonstration Program aimed at decarbonizing California's natural gas grid. This innovative initiative will blend hydrogen with natural gas, utilizing surplus renewable energy to produce green hydrogen. The program, subject to California Public Utilities Commission approval, represents a significant step toward a statewide hydrogen injection standard, targeting a blend level starting at 1% and potentially reaching 20% in future projects.
Southern California Gas Co. (SoCalGas) and the Yorba Linda Water District (YLWD) announced the installation of a natural gas-powered electricity generator at the Elk Mountain Booster Pump Station. This generator ensures backup power during emergencies, such as wildfires and Public Safety Power Shutoffs, producing 500 kWh to support water pumping operations for over 68,000 residents. YLWD's commitment to reliable water service is reinforced through this project, which leverages SoCalGas's new Core Electric Generating Rate for cost efficiency.
The board of directors of Southern California Gas Co. (SoCalGas) has declared a regular quarterly dividend of $0.375 per share for its preferred stock, including Series A. The dividends are set to be payable on January 15, 2021, to shareholders recorded by December 10, 2020. SoCalGas, a subsidiary of Sempra Energy (SRE), is the largest gas distribution utility in the U.S., serving 21.8 million customers across 24,000 square miles of California. The company aims to replace 20% of its natural gas supply with renewable natural gas by 2030.
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Sempra Energy (SRE) announced a quarterly dividend of $1.045 per share on its common stock, payable on January 15, 2021, for shareholders of record by December 18, 2020. Additionally, a dividend of $1.50 per share will be issued for its 6% Mandatory Convertible Preferred Stock, Series A, and $1.6875 for its 6.75% Mandatory Convertible Preferred Stock, Series B, also payable on January 15, 2021. With over $60 billion in total assets, Sempra continues to lead in the North American energy infrastructure market.
SoCalGas announced a $50,000 grant to the Los Angeles Urban League to support its virtual Construction Career Academy. The program, free for participants, trains individuals for careers in construction, mechanical fields, and engineering, aiming to increase access for minority workers. SoCalGas plans to hire up to 100 graduates who complete the program. Notably, 90% of CCA graduates have successfully passed industry exams and secured employment. This initiative aligns with SoCalGas's commitment to community investment and workforce development.
Sempra Energy (NYSE: SRE) announced that its subsidiary, ECA Liquefaction, has reached a final investment decision (FID) for the ECA LNG Phase 1 project in Baja California, Mexico. This is the first LNG export project in the world to reach FID in 2020, with estimated capital expenditures of $2 billion. The project aims to connect natural gas supplies from Texas to international markets and is expected to create over 10,000 jobs while generating economic benefits for Mexico. First LNG production is anticipated in late 2024, with a capacity of 3.25 million tonnes per annum.
Sempra Energy (NYSE: SRE) announced a $20,000 donation to Operation Homefront for Veterans Day, supporting military families affected by COVID-19. This grant contributes to the "11 Days of Impact" campaign, aiming to raise $111,000 to provide financial assistance for critical needs like housing and groceries. Over the past five years, Sempra has donated more than $1.4 million to military causes and employs over 1,000 veterans. The company received recognition as a "Military Friendly" organization, highlighting its commitment to veteran support.