SEMPRA 8-K

What Happened

• Sempra announced that its subsidiaries San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas) filed concurrent 2028 General Rate Case (GRC) applications with the California Public Utilities Commission (CPUC) on June 15, 2026.
• The filings request CPUC approval of test‑year revenue requirements for 2028 and attrition‑year adjustments for 2029–2031, and ask the CPUC to issue a proposed decision by the end of 2027 with new rates effective January 2028. The CPUC’s final decision may differ materially from the requests.

Key Details

• SDG&E requested a 2028 test‑year revenue requirement of $3,760 million. Requested attrition adjustments: 2029 = $327 million (8.7%), 2030 = $226 million (5.5%), 2031 = $240 million (5.6%).
• SoCalGas requested a 2028 test‑year revenue requirement of $5,096 million. Requested attrition adjustments: 2029 = $315 million (6.2%), 2030 = $312 million (5.8%), 2031 = $314 million (5.5%).
• The filings cite expenditures to safely operate and maintain systems, comply with regulations, and cover rising costs (e.g., insurance, employee healthcare).
• Sempra will post this information on its “Corporate updates” webpage and will use that page going forward for Reg FD disclosures.

Why It Matters

• GRC outcomes determine the utilities’ authorized revenue and customer rates, which directly affect SDG&E’s and SoCalGas’s revenue, cash flows and allowed returns; any CPUC decision materially different from the requests could change those financial impacts.
• Investors should monitor the CPUC process (expected proposed decision by end of 2027), Sempra’s corporate updates page, and subsequent SEC filings for updates on timing, scope, and final rate decisions.