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Sempra Energy (SRE.N)

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Latest Key Developments (Source: Significant Developments)

CPUC begins proceeding to determine Aliso Canyon facility future
Thursday, 9 Feb 2017 07:46pm EST 

California Public Utilities Commission (CPUC): says opened a proceeding at its public voting meeting on Thursday to determine feasibility of minimizing or eliminating the use of Southern California Gas Company's Aliso Canyon natural gas storage facility while still maintaining energy and electric reliability for the Los Angeles region . says a final decision in the matter is expected mid-2018, but the CPUC has slated a 24-month timeframe from opening of the proceeding to complete all work SoCalGas is owned by California energy company Sempra Energy and Aliso Canyon is the biggest of its four storage fields. It supplies natural gas to homes and businesses in Southern California, including power plants and refineries. SoCalGas has only limited access to fuel at Aliso Canyon following a massive methane leak from the facility, located in the Porter Ranch area of Los Angeles, between October 2015-February 2016. Related story: SoCalGas to pay $8.5 mln for Aliso Canyon leak settlement with Calif. regulator [nL4N1FT5NQ] (Reporting by Vijaykumar Vedala in Bengaluru) ((vijaykumar.vedala@thomsonreuters.com; +91-80-6749-6421 / 1298 (If within U.S. call 651-848-5832); Reuters Messaging: vijaykumar.vedala.thomsonreuters.com@reuters.net)).  Full Article

SoCalGas to pay $8.5 mln for Aliso Canyon leak settlement with Calif. regulator
Wednesday, 8 Feb 2017 05:18pm EST 

South Coast Air Quality Management District (SCAQMD): says Southern California Gas Co (SoCalGas) will pay $8.5 million, including funding for an independent health study, under a settlement with the SCAQMD resulting from the massive gas leak at the company's Aliso Canyon storage facility . says the settlement specifies that of the $8.5 million, $1 million will be designated for a SCAQMD-sponsored health study; $5.65 million will pay for emission fees related to the leak; $1.6 million will reimburse SCAQMD for air monitoring costs and $250,000 for its legal fees . says that $1 million of the $5.65 million in emission fees will help fund a renewable natural gas production project.  Full Article

Southern California Gas Co says entered settlement with South Coast Air Quality Management District
Wednesday, 8 Feb 2017 02:56pm EST 

Southern California Gas Co: Entered into a settlement agreement with South Coast Air Quality Management District .Will fund AQMD's health study related to Aliso Canyon natural gas leak.  Full Article

Sempra Energy announces California Utilities' settlement agreement for two-year extension of cost-of-capital application
Tuesday, 7 Feb 2017 04:48pm EST 

Sempra Energy : Sempra Energy announces California Utilities' settlement agreement for two-year extension of cost-of-capital application . Sempra Energy -Entered MOU with other parties for two-year extension for utilities to file next applications in cost-of-capital proceeding at CPUC . Sempra Energy - MOU calls for SDG&E to reduce its return on equity to 10.2 percent from 10.3 percent . Sempra Energy - MOU calls for Socalgas to reduce its return on equity to 10.05 percent from 10.1 percent for 2018 and 2019 .Sempra Energy - Co's california utilities San Diego Gas & Electric and Southern California Gas Co have entered into memorandum of understanding with other parties.  Full Article

Sempra Energy's Ienova unit announces pricing of common stock follow-on offering
Friday, 14 Oct 2016 03:24am EDT 

Sempra Energy : Sempra Energy's Ienova unit announces pricing of common stock follow-on offering .Says unit's private offering priced at $4.22 per share.  Full Article

Sempra Energy Q2 adjusted earnings per share $0.79
Thursday, 4 Aug 2016 08:30am EDT 

Sempra Energy : Q2 adjusted earnings per share $0.79 . Q2 earnings per share $0.06 . Q2 earnings per share view $0.97 -- Thomson Reuters I/B/E/S . Sees FY 2016 adjusted earnings per share $4.60 to $5.00 . Quarterly total revenues $2,156 million versus $2,367 million . Socalgas updated estimate of certain costs related to Aliso Canyon natural gas leak is $717 million . Q2 revenue view $2.62 billion -- Thomson Reuters I/B/E/S . Company reaffirms 2016 adjusted earnings guidance .FY2016 earnings per share view $4.81 -- Thomson Reuters I/B/E/S.  Full Article

Geronimo Energy - Sale of Apple Blossom wind farm to Sempra U.S. Gas & Power
Monday, 25 Jul 2016 12:00pm EDT 

: Geronimo Energy LLC - Sale of Apple Blossom wind farm to Sempra U.S. Gas & Power, a subsidiary of Sempra Energy .Geronimo Energy LLC - Apple Blossom is expected to begin construction fall of 2016 and enter into operation in 2017.  Full Article

SoCalGas warns of possible natgas curtailments in Southern California
Friday, 22 Jul 2016 11:45am EDT 

Southern California Gas has issued its second notice this summer that it could be forced to curtail gas supplies to power generators if squeezed by too much electricity demand from consumers cranking up air conditioners to escape a heat wave. The supply of gas available to consumers is tighter-than-usual this year because SoCalGas has only limited access to the fuel in its Aliso Canyon storage field in the Los Angeles area. SoCalGas, a unit of California energy company Sempra Energy , shut the giant storage field after detecting a massive leak in October. [nL1N19E0N2] : If supplies run short, SoCalGas is expected to start curtailing gas supplies to some power generators. California agencies and others have said such curtailments could lead to blackouts on up to 14 days this summer. . The California Independent System Operator, which operates much of the state's power grid, however, has not issued any warnings about power supplies on Friday, saying on its website it would be "helpful" for consumers to conserve energy. . SoCalGas forecast gas demand could top 3.1 billion cubic feet on Friday, which would be met by almost 2.7 bcf of fuel from pipelines and 0.5 bcf from storage withdrawals. . Gas use is expected to slide to under 3.1 bcf on Saturday with 2.7 bcf from pipelines and 0.4 bcf from storage..  Full Article

Sempra U.S. Gas & Power acquires Apple Blossom Wind Project in Michigan
Friday, 22 Jul 2016 09:00am EDT 

Sempra U.S. Gas & Power: Has acquired Apple Blossom Wind Project in Michigan from Geronimo Energy, Llc .Terms of transaction were not disclosed.  Full Article

Sempra says Cameron LNG expansion project receives non-FTA export authorization from DoE
Monday, 18 Jul 2016 08:40am EDT 

Sempra Energy : Expansion project will be located next to Cameron LNG terminal and liquefaction facilities that were approved for construction in 2014 in Hackberry, LA. . Facility is expected to commence operations during 2018, with first full year of operations in 2019 . Construction on first phase of $10 billion Cameron LNG liquefaction project (trains no. 1-3) currently is underway . Facility is expected to commence operations during 2018, with first full year of operations in 2019 . Cameron LNG liquefaction expansion project receives non-FTA export authorization from DoE .With this order, Cameron LNG's export capacity will be 24.92 million tons per annum or 3.53 Bcfd.  Full Article

More From Around the Web

California natgas storage upgrades to reduce withdrawals: SoCalGas

Southern California Gas Co (SoCalGas) told state regulators on Wednesday the amount of natural gas it will be able to pull from its three smaller storage facilities would decline as it upgrades wells at those fields.