Highest-materiality recent filing
SoCalGas closes $650M public offering of 5.900% bonds due 2056
Issued $650M aggregate principal of 5.900% First Mortgage Bonds, Series FFF, due June 1, 2056.
Sempra shareholders re-elect all 11 directors, approve say-on-pay, reject independent chair proposal
All 11 director nominees elected with over 93% of votes cast; Jeffrey W. Martin received 96.12%.
SoCalGas issues $650M of 5.900% First Mortgage Bonds due 2056
$650M aggregate principal of 5.900% First Mortgage Bonds, Series FFF, due 2056.
Sempra Q1 GAAP EPS $1.58, up from $1.39; adjusted EPS $1.51 vs $1.44
GAAP net income of $1.037B vs $906M in Q1 2025; diluted shares 655M.
PUCT approves Oncor base rate settlement; annual revenue up $560M, ROE 9.75%
Oncor's annual revenue requirement set at ~$6.97B, an increase of ~$560M (8.7%).
SDG&E files unopposed FERC settlement raising base ROE to 10.28% from 10.10%
SDG&E files unopposed settlement in FERC TO6 rate proceeding; authorized base ROE increases from 10.10% to 10.28%.
SDG&E closes $1.1B debt offering in two tranches maturing 2036 and 2056
Issued $625M of 5.200% First Mortgage Bonds, Series DDDD, due March 15, 2036.
SDG&E issues $625M 5.200% bonds due 2036 and $475M 5.950% bonds due 2056
$625M of 5.200% First Mortgage Bonds, Series DDDD, due 2036 at 99.754% of par.
Sempra closes $800M offering of 5.250% Notes due 2036
Closed public offering of $800M aggregate principal of 5.250% Notes due March 15, 2036.
Sempra FY2025 adj. EPS $4.69 (+1%); raises 5-year capex to $65B
Full-year 2025 GAAP EPS $2.75, down from $4.42; adjusted EPS $4.69 vs $4.65.
Sempra's Oncor files $560M annual rate increase settlement with Texas PUCT; ROE set at 9.75%
Oncor stipulation seeks annual revenue requirement of ~$6.975B, an 8.8% increase over present revenues.
SoCalGas faces cross-claims from Edison in Eaton Fire litigation, plans to defend
Edison filed cross-claims against SoCalGas in Eaton Fire litigation on Jan 16, 2026.
CPUC SDG&E Track 2 PD triggers $471M charge; Sempra guides 2025 adj. EPS to high end
CPUC approved cost of capital FD with 5 bps higher ROE; other terms unchanged from Nov. 2025 PD.
CPUC proposes approving $1.04B of SDG&E wildfire costs; lowers ROE by 35 bps
CPUC PD approves $1,036M of SDG&E's $1,472M wildfire mitigation cost request, denies $193M O&M and $242M capital costs.
Sempra Q3 adjusted EPS $1.11 beats $0.89; GAAP EPS $0.12 on $514M tax items
GAAP EPS $0.12 vs $1.00; adjusted EPS $1.11 vs $0.89 in Q3 2024.
Sempra sells 45% of Sempra Infrastructure Partners to KKR for $9.99B, approves PA LNG Phase 2 FID
Sells 45% of Sempra Infrastructure Partners to KKR/CPPIB for $9.99B base purchase price, raising KKR stake to 65%.
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.
Sempra closes $800M offering of 6.375% junior subordinated notes due 2056
Net proceeds ~$792M after underwriting discounts; intended to redeem all outstanding 4.875% Series C preferred stock subject to board approval.
Sempra Q2 GAAP EPS $0.71 vs $1.12 YoY; adjusted EPS flat at $0.89
GAAP net income $461M ($0.71/diluted share) vs $713M ($1.12) in Q2 2024; adjusted net income $583M ($0.89) vs $567M ($0.89).
Texas HB 5247 signed; Oncor (Sempra sub) UTM to improve ROE 50-100 bps
Texas HB 5247 signed June 20, 2025; establishes unified tracker mechanism (UTM) for qualified ERCOT electric utilities.
Sempra promotes Caroline Winn to EVP over California utilities; new CAO appointed
Caroline A. Winn promoted to EVP of Sempra overseeing SoCalGas and SDG&E; resigns as CEO of SDG&E but remains director and becomes non-executive chair of SDG&E board.
resign as senior vice president, controller and chief accounting officer of Sempra
On June 21, 2025, the Sempra Board promoted Dyan Z. Wold, the current vice president, controller and chief accounting officer of Sempra’s subsidiary Sempra Infrastructure Partners, to the position of vice president, controller and chief accounting officer of Sempra.
be appointed as the non-executive chairman of the board of directors of SDG&E
as a director of SoCalGas
the SoCalGas Board appointed Ms. Winn to serve as a director of SoCalGas and the non-executive chairman and a member of the Compensation and Safety Committees of the SoCalGas Board.
On June 21, 2025, the Board of Directors of Sempra (the “Sempra Board”) promoted Caroline A. Winn to the position of executive vice president of Sempra overseeing Southern California Gas Company (“SoCalGas”) and San Diego Gas & Electric Company (“SDG&E”), Sempra’s California utility subsidiaries.
In connection with this promotion and these appointments, Ms. Winn will resign from her current role as the chief executive officer of SDG&E but continue to serve as a director and be appointed as the non-executive chairman of the board of directors of SDG&E
Max materiality 0.90 · Median 0.65 · Most common event regulatory