What are General Rate Cases (GRCs) and why are they important for Sempra's subsidiaries?

General Rate Cases (GRCs) are regulatory proceedings where California Public Utilities Commission (CPUC) sets the authorized revenue requirements for utilities like SDG&E and SoCalGas. These cases allow the utilities to recover their operating costs and earn an authorized rate of return on their investments, directly impacting their financial performance and the rates customers pay.

What is the total amount SDG&E and SoCalGas are seeking in these GRC applications?

SDG&E is requesting $3,760 million for the 2028 test year, plus attrition adjustments of $327 million (2029), $226 million (2030), and $240 million (2031). SoCalGas is requesting $5,096 million for the 2028 test year, plus attrition adjustments of $315 million (2029), $312 million (2030), and $314 million (2031).

When can investors expect a decision from the CPUC, and when would new rates take effect?

SDG&E and SoCalGas have requested that the CPUC issue a proposed decision by the end of 2027. If approved, the new rates would be effective in January 2028. However, it's important to note that the CPUC's final decision may differ from the utilities' requests.

How should investors monitor future important disclosures from Sempra?

Sempra plans to use a "Corporate Updates" webpage on its investor relations website (sempra.com/investors) as a channel for disclosing important information, some of which may be material. Investors are advised to monitor this webpage in addition to Sempra's SEC filings, press releases, and public conference calls for comprehensive information.

SRE/SREA 8-K: Regulation FD

Summary

Sempra Energy (SRE) announced through its subsidiaries, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas), that they have submitted their 2028 General Rate Case (GRC) applications to the California Public Utilities Commission (CPUC). These applications seek approval for test year revenue requirements for 2028 and attrition adjustments for 2029 through 2031. The requested revenue increases are intended to cover essential operating costs, regulatory compliance, and rising expenses such as insurance and employee healthcare. SDG&E has requested $3,760 million for the 2028 test year and attrition year adjustments of $327 million, $226 million, and $240 million for 2029, 2030, and 2031, respectively. SoCalGas is seeking $5,096 million for the 2028 test year and attrition year adjustments of $315 million, $312 million, and $314 million for 2029, 2030, and 2031, respectively. The CPUC's final decision could differ from these requests, with an expected proposed decision by the end of 2027 for rates effective in January 2028. Sempra also noted its intention to utilize a "Corporate Updates" webpage on its investor relations site for disclosing important information, supplementing its other communication channels.

Key Highlights

1SDG&E and SoCalGas filed their 2028 General Rate Case (GRC) applications on June 15, 2026.
2The GRC applications request CPUC approval for test year revenue requirements for 2028 and attrition adjustments for 2029-2031.
3SDG&E requested $3,760 million for 2028 and subsequent attrition amounts totaling approximately $793 million over three years.
4SoCalGas requested $5,096 million for 2028 and subsequent attrition amounts totaling approximately $941 million over three years.
5Requested revenue is intended to cover operating costs, regulatory compliance, and rising expenses like insurance and healthcare.
6The CPUC's final decision may differ from the requested amounts, with a proposed decision expected by end of 2027 for January 2028 rate implementation.
7Sempra plans to use a dedicated webpage for 'Corporate Updates' to disclose important investor information, supplementing SEC filings and press releases.

SEMPRA 8-K Report, Regulation FD Disclosure (Jun 16, 2026)

Summary

Key Highlights

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