SPOTLIGHT | PORT ARTHUR LNG PHASE 1
SEMPRA TEXAS UTILITIES
(Unaudited, dollars in millions)
Sempra Texas Utilities GAAP Earnings
Three months ended
September 30,
2021
2022
$
256 $ 206
Nine months ended
September 30,
2021
2022
$ 604 $ 479
Q3-2022 earnings are higher than Q3-2021 earnings primarily due to higher equity earnings from Oncor driven by:
•
Higher revenues from customer consumption attributable to weather + customer growth + rate updates to reflect
increases in invested capital, and
Higher revenues from an annual energy efficiency program performance bonus approved in Q3-2022 compared to
Q4-2021, partially offset by
Higher depreciation, property taxes + interest expense attributable to invested capital, and
Higher operation + maintenance expense
SEMPRA
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