Adjusted Earnings and Adjusted EPS Presentation
123456
Business Updates | Sempra California
Strong Operational Performance
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SDGE awarded "Best in the West” 18 years in a row and national Grid Sustainability award¹
35% year-over-year increase in EVs in SDGE's service territory²
Palomar Hydrogen Blending Project commissioning in November³
SoCalGas expecting to meet CA's 2030 methane emissions reduction goal of 40% 5-years early*
Constructive Regulatory Environment
Requested CPUC adoption of 2024 GRC settlement agreements reached with key intervenors on
certain portions related to safety and reliability - PD anticipated Q2-20245
⚫ SB 410 allows recovery of additional energization spend between GRC cycles, designed to reduce
regulatory lag
CPUC approved increase in Aliso Canyon's authorized storage capacity from 41.2 Bcf to 68.6 Bcf, which
is expected to improve reliability and customer affordability
CCM triggered - SDGE and SoCalGas each filed advice letters to increase ROES by 70 bps
High Growth Potential³
SDGE requested approval for ~160 MW of utility-owned energy storage
SDGE assigned $500M of projects in its service territory and submitted bid materials to CAISO for its
2022 2023 Transmission Plan FERC 1000 solicitation process
CA Governor announced an “all-of-government" approach to develop H2 economy of future
⚫ CA awarded up to $1.2B by DOE to fund regional clean hydrogen hub through ARCHES, which includes
SoCalGas
ReliabilityOne award for Outstanding Reliability Performance in the West and application of clean energy technology and investment in the grid.
Represents 2022 compared to 2021 Data. Amount is approximate. Total Light Duty Electric Vehicles including electric and plug-in hybrid vehicles in SDGE's service territory.
The ability to complete major development and construction projects is subject to a number of risks and uncertainties.
Based upon a 2015 emissions baseline. SB 1371 and D. 19-08-020 require California gas corporations to reduce methane emissions by 20% below 2015 baseline by 2025 and 40% below 2015 baseline by 2030.
Parties to file comments by November 27 and reply comments due by December 12.
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The award is preliminary and subject to change based on award negotiations between ARCHES and DOE.
Also seeking increase in cost of debt at SDGE and SoCal Gas of 29 bps and 47 bps, respectively. ROR at SDGE and SoCalGas would each increase to 7.67%. Protests due by
November 2 and replies to protests, if any, are due November 9.
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