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.
Sempra Energy (NYSE: SRE) is donating $2 million to the Salk Institute for a five-year project focused on plant-based carbon capture and sequestration research. This initiative, part of the Harnessing Plants Initiative, aims to develop drought-tolerant sorghum that sequesters carbon while providing essential resources like food and fuel. The project could potentially mitigate 1.5 to 6 gigatons of CO2 emissions annually if implemented globally. Sempra's investment reflects its commitment to sustainability and advancing the energy transition.
Sempra Energy (SRE) reported Q3 2020 earnings of $351 million ($1.21/share), a significant decrease from $813 million ($2.84/share) in Q3 2019. Adjusted earnings for Q3 2020 were $380 million ($1.31/share) versus $425 million ($1.50/share) year-over-year. For the first nine months, earnings surged to $3.35 billion ($11.43/share), up from $1.61 billion ($5.74/share) in the same period of 2019. The company is focusing on high-growth markets and infrastructure investments, reaffirming full-year 2020 EPS guidance of $12.50 to $13.10.
Southern California Gas Co. (SoCalGas) has commenced the dispensing of California-produced renewable natural gas (RNG) at its fueling stations. The utility has partnered with Calgren Dairy Fuels to source RNG derived from dairy manure, contributing to greenhouse gas reduction. This marks a significant shift as SoCalGas previously used RNG solely from out-of-state sources. By the end of 2023, over 160 RNG production facilities are expected to be operational in California, aiming to replace around 119 million gallons of diesel annually and cut greenhouse emissions by more than 3.4 million tons.
Southern California Gas Co. (SoCalGas) has partnered with The Laundry Truck LA (TLTLA) to launch a new mobile laundry trailer for unhoused individuals in Greater Los Angeles. The trailer, featuring five washers and dryers, aims to provide over 10,000 laundry loads by the end of 2020. SoCalGas has previously contributed $25,000 and a CNG truck from Landi Renzo USA to support TLTLA's efforts. Access to laundry services is essential in improving the hygiene and self-esteem of those experiencing homelessness, especially during the COVID-19 pandemic.
SoCalGas and the YMCA-LA have partnered to address equity challenges in Los Angeles County by providing free unlimited internet access at 20 YMCA branches. Funded by a $60,000 donation from SoCalGas, this initiative aims to bridge the digital divide, assisting students and families with distance learning, tele-health resources, and job opportunities. The program commenced on October 19, 2020, with four branches initially, expanding to all locations by November. This partnership reflects a commitment to improving community quality of life and ensuring equal access to essential resources.
Oncor Electric Delivery Company LLC will announce its third quarter 2020 results on November 5, ahead of Sempra Energy's conference call. Interested parties can access Oncor's earnings release on its website. The conference call, scheduled for 12 p.m. ET on the same day, will cover Oncor's operational and financial results. A replay will be available later. Additionally, Oncor will file its Quarterly Report on Form 10-Q after the call, which will also be accessible on its website.
Sempra Energy (NYSE: SRE) is set to release its third-quarter 2020 earnings on November 5, 2020, at 7 a.m. ET. Following this, a conference call will be held at 12 p.m. ET for investors, analysts, and the public to discuss the results. Interested parties can access the live webcast on the company's website. Additionally, a slide presentation detailing the earnings will also be posted on the same day at 7 a.m. ET. Sempra Energy is recognized for its significant assets and commitment to sustainability, with a customer base exceeding 35 million.
On October 15, 2020, Southern California Gas Co. (SoCalGas) participated in the 13th annual Great California ShakeOut, highlighting emergency preparedness amid natural disaster risks in California. SoCalGas emphasized safety tips for customers, urging caution around natural gas usage post-earthquake. With over 10.9 million Californians participating last year, the event serves to raise awareness of earthquake readiness. SoCalGas also aims to replace 20% of its traditional gas supply with renewable sources by 2030, reinforcing its commitment to clean energy delivery.
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Sempra Energy (NYSE: SRE) announced a $100,000 pledge to aid recovery efforts in Southwest Louisiana and Southeast Texas following Hurricane Delta. This contribution builds on a prior commitment of $500,000 after Hurricane Laura. The funds aim to support families and small businesses impacted by the storms and ongoing economic challenges due to the COVID-19 pandemic. Over the last three years, Sempra Energy, alongside its foundation, has dedicated more than $3.5 million to nonprofits in Texas and Louisiana, demonstrating its commitment to community resilience.