CPUC proposes approving $1.04B of SDG&E wildfire costs; lowers ROE by 35 bps

SEMPRA

CPUC PD approves $1,036M of SDG&E's $1,472M wildfire mitigation cost request, denies $193M O&M and $242M capital costs.
Authorized Track 2 revenue requirement of $721M for 2019-2027, $427M below requested $1.148B; remaining $431M collectible 2026-2028.
Cost of Capital PD sets equity layer at 52% for SDG&E and SoCalGas, ROE 35 bps lower vs. current; effective Jan 1, 2026 through 2028.
Comments on both PDs due Dec 4, 2025; reply comments Dec 9; earliest CPUC vote Dec 18, 2025.

item 8.01

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