Sempra
Sempra Energy’s Earnings Plummet
Like California’s other two investor-owned utilities and parent companies, Sempra Energy’s latest earnings also were in the red, not from wildfire liability but from the huge methane leak at subsidiary SoCalGas’ Aliso Canyon storage field. A $1.13 billion settlement that includes most of the plaintiffs resulted in a loss for Sempra of $651 […]
SoCalGas Reaches Aliso Canyon Settlement
Southern California Gas has proposed a $1.8 billion settlement to resolve thousands of lawsuits filed by San Fernando Valley victims of the gas company’s massive, months-long methane leak from its Aliso Canyon Storage Field in 2015 and 2016. The agreement, announced Sept. 27, was reached with lawyers who represent 80% of the nearly 36,000 […]
Two SDG&E Green Hydrogen Pilots Aim to be Online in 2022
San Diego Gas & Electric launched two green hydrogen demonstration projects geared to help start the decarbonization of its system. Both are expected to be online before the end of next year.
One will produce […]
Big hydro loss, Gov. waives pollution limits, Sempra earnings
Warnings about diminished hydropower because of the ongoing drought in California become a reality. On Thursday, a state official announces the shutdown of the 750 MW Hyatt Powerplant because of the lack of flow from Oroville Lake to feed it.
That is after Gov. Gavin Newsom, in the […]
SDG&E and SoCalGas Parent’s Earnings Fall
Sempra Energy saw a sharp drop in net income for the second quarter, $424 million, or $1.37 a share, compared to $2.39 billion, or $7.61 a share for the second quarter of 2020.
Earnings from […]
The Buzz
The 2020 and quarterly earnings of the parent corporations of the four investor-owned utilities are a mixed bag. Annual net income for Edison International and PG&E Corp. drops while fourth quarter earnings rise. Sempra Energy’s reported income goes the opposite direction.
While utility leaders sing the praises […]