Sempra Energy Financial Overview
Sempra Texas Utilities
(Dollars in millions)
Sempra Texas Utilities GAAP Earnings
Three months ended
December 31,
Years ended
December 31,
2021
2022
2021
2022
$
(Unaudited)
132 $
137 $
736 $
616
Q4-2022 earnings are lower than Q4-2021 earnings primarily due to lower equity earnings from Oncor Holdings driven by:
•
•
lower revenues from an annual energy efficiency program performance bonus approved in the third quarter of 2022
compared to the fourth quarter of 2021,
•
higher depreciation expense and interest expense attributable to invested capital, and
higher operation and maintenance expense, partially offset by
higher revenues from higher customer consumption attributable primarily to weather, rate updates to reflect
increases in invested capital, and customer growth
FY-2022 earnings are higher than FY-2021 earnings primarily due to higher equity earnings from Oncor Holdings driven by:
•
higher revenues from rate updates to reflect increases in invested capital, higher customer consumption attributable
primarily to weather, and customer growth, partially offset by
higher depreciation expense and interest expense attributable to invested capital, and
•
higher operation and maintenance expense
SEMPRA 24View entire presentation