---
schema_version: "secwatch.filing_event.v1"
accession: "0001032208-25-000051"
form_type: "8-K"
ticker: "SRE"
cik: "0001032208"
company_name: "SEMPRA"
filed_at: "2025-09-19T23:59:59+00:00"
generated_at: "2026-05-17T06:04:22.517901+00:00"
event_type: "regulatory"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# California Wildfire Legislation (SB 254) Effective; Sempra's SDG&E to Participate in $18B Continuation Account

## Summary
- California SB 254 signed on Sept. 19, 2025, adds up to $18 billion in liquidity via the Continuation Account for large electric IOUs like SDG&E.
- SDG&E intends to elect participation by Oct. 4, 2025; its total shareholder contribution through 2045 is $387 million ($219.3M fixed + $167.7M contingent).
- Liability cap for SDG&E on imprudence findings is approx. $1.4 billion based on 2024 transmission & distribution equity rate base.
- The 2025 legislation preserves AB 1054 elements: safety certifications, cost recovery standards, and a cap on liability for imprudent claims.
- Ratepayer contributions of $9 billion financed via bonds secured by extending a non-bypassable charge from 2036-2045, pending CPUC approval.

## SEC filing metadata
- accession: 0001032208-25-000051
- form_type: 8-K
- ticker: SRE
- cik: 0001032208
- company_name: SEMPRA
- filed_at: 2025-09-19T23:59:59+00:00
- event_type: regulatory
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1032208/000103220825000051/0001032208-25-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/86521/000103220825000051/sresdge-20250919.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001032208-25-000051
- JSON: https://secwatch.observer/filing/0001032208-25-000051.json
- Plain text: https://secwatch.observer/filing/0001032208-25-000051.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.