Efficient Financing & Incremental Investment Opportunities
POLICY LANDSCAPE
Constructive Regulatory Environment
Rate Base
CPUC Authorized
Equity Layer
10% Projected 5-Year CAGR | $19.3B¹
52.00% Common Equity²
California GHG Emissions by Sector³
Transportation emissions are the single
largest contributor to GHG emissions
7%
5%
8%
SDG&E
6%
10.20% CPUC | 10.60% FERC
Authorized Return
on Equity (ROE)
SoCalGas
10.05% CPUC
From electricity + gas sales which
Decoupled
mitigates commodity exposure consistent
with our infrastructure strategy
9%
24%
41%
Transportation
Electricity (Imports)
Residential
Industrial
Agriculture & Forestry
Electricity (In State)
Commercial
California's regulatory environment, rooted in the state's clean energy leadership and
ambitious clean energy policies, helps drive future infrastructure investment opportunities
Projected rate base CAGR from 2020 - 2025. Rate base figure represents SDG&E and SoCalGas combined 13-month weighted-average, excluding CWIP as of 12/31/2020. Actual amounts/results may differ materially.
Federal Energy Regulatory Commission (FERC) authorized equity layer is based on its SDG&E's actual capital structure as
20
1.
2.
of 12/31/2020.
3.
CARB. California Greenhouse Gas Emission Inventory - 2020 Edition.
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