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 (SRE) has completed its exit from South America, divesting its Chilean businesses for approximately $2.23 billion and a total of $5.82 billion from sales in Chile and Peru. This move aligns with their strategy to focus on North America's energy infrastructure markets. The company plans to invest $32 billion in capital from 2020 to 2024, emphasizing transmission and distribution in regions like California and Texas. Sempra has raised its full-year 2020 GAAP EPS guidance to a range of $12.38 to $13.32 amid improved earnings visibility.
Southern California Gas Co. (SoCalGas) successfully organized a contactless donation drive to support the Children's Fund of San Bernardino County. This initiative aimed to provide hygiene and infant care items to vulnerable children and families impacted by the COVID-19 pandemic. SoCalGas has committed over $2 million to various nonprofit organizations since March for recovery efforts. The Children's Fund, operating since 1986, serves over 66,000 children annually, addressing critical needs such as hygiene products and clothing.
Sempra Energy (NYSE: SRE) has completed the sale of its Chilean businesses to State Grid International Development Limited for approximately $2.23 billion. This divestiture finalizes the company's exit from South America, generating total proceeds of about $5.82 billion from the sale of both Chilean and Peruvian assets. Proceeds will enhance Sempra's balance sheet and liquidity. The sale included Chilquinta Energía S.A., the third-largest electricity distributor in Chile, and aims to focus Sempra's operations in North America.
Sempra Energy (NYSE: SRE) announced key executive appointments within its California utility infrastructure on June 23, 2020, aimed at enhancing leadership and succession planning. Kevin C. Sagara is appointed group president, while Caroline A. Winn and Scott D. Drury become CEOs of San Diego Gas & Electric Co. and Southern California Gas Co., respectively, effective August 1, 2020. These changes reflect Sempra's commitment to safety and sustainable practices in energy. The company boasts over $60 billion in assets and serves over 35 million consumers across North America.
SoCalGas, in partnership with Homeboy Industries and Alma Family Services, hosted a drive-thru meal distribution event in East Los Angeles, benefitting families affected by COVID-19. The initiative, supported by a $25,000 donation from SoCalGas, provided over 5,000 meals to around 1,000 families. Los Angeles County Supervisor Hilda L. Solis emphasized the need to combat hunger during the pandemic. This event highlights SoCalGas's commitment to community support and relief efforts that have exceeded $2 million in donations to assist vulnerable populations during the crisis.
On June 18, 2020, SoCalGas collaborated with the Latino Restaurant Association to distribute meals to 1,000 healthcare workers at Riverside Community Hospital. Grants from SoCalGas supported local Latino-owned restaurants, highlighting community efforts amid the COVID-19 pandemic. The initiative also included earlier support for 500 workers at Arrowhead Regional Medical Center. SoCalGas has donated over $2 million for various COVID-19 recovery programs, contributing to a total exceeding $12 million when combined with its sister company, Sempra Energy.
Southern California Gas Co. (SoCalGas) and the University of California Santa Barbara (UCSB) have completed two energy efficiency projects, saving the university 66,000 therms annually. This reduction is equivalent to avoiding 350 metric tons of greenhouse gases or the emissions from 866,516 vehicle miles. Over the past five years, SoCalGas has supported 184 projects, saving over 6 million therms and providing $6.3 million in incentives. SoCalGas aims for 20% of its gas supply to be renewable by 2030 and has saved customers $225 million in utility bills through energy efficiency programs.
On June 15, 2020, Southern California Gas Co. (SoCalGas) collaborated with the Latino Restaurant Association (LRA) to distribute meals to healthcare workers at Mercy Hospital Southwest and Adventist Health Delano Regional Medical Center in Kern County. Supported by a grant from SoCalGas, this initiative is part of LRA's Feed Frontliners Program aimed at aiding restaurants and frontline workers impacted by COVID-19. Over $2 million has also been donated by SoCalGas to support various nonprofit organizations during the pandemic.