SEMPRA 5-Year Capital Plan
Sempra Texas Utilities
Three months ended
March 31,
(Unaudited, dollars in millions)
2023
2022
Sempra Texas Utilities GAAP Earnings
83 $
162
Equity losses from a write-off of rate base disallowances resulting from the PUCT's final order in Oncor's
comprehensive base rate review
44
Sempra Texas Utilities Adjusted Earnings¹
$
127 $
162
Q1-2023 adjusted earnings are lower than Q1-2022 earnings primarily due to lower equity earnings from Oncor Holdings
driven by:
•
higher depreciation expense and interest expense attributable to invested capital,
•
higher operating and maintenance expense, and
•
lower revenues from decreased customer consumption primarily attributable to weather, offset by higher revenues
from updates to base transmission billing factors, transmission rate updates to reflect increases in invested capital,
and customer growth
SEMPRA | 24
1.
See Appendix for information regarding Adjusted Earnings, which represents a non-GAAP financial measure.View entire presentation