Second Quarter 2015 Earnings Results August 4, 2015
Table of Contents California Utilities Regulatory Update General Rate Case Rate Reform Business Update Base Plan Development Opportunities LNG Development Q2-15 Financial Results Business Unit Earnings Appendix 3 3
Introduction Strong second-quarter results keep us on track to achieving our full-year 2015 adjusted earnings guidance(1) Six months into the first year of our current 5-year plan, we have already secured 5 new projects that are…
California Utilities Regulatory Update General Rate Case Draft decision still scheduled to be issued by year-end 2015, with an expected final decision in early 2016 SDG&E and SoCalGas filed responses to Intervenor testimonies…
California Utilities Regulatory Update, Contd Rate Reform Rate Reform decision received Jul-2015 that implements electric rates that are more equitable and sustainable(1) Initial changes to be implemented no later than Nov-2015…
Business Update Base Plan BASE PLAN Two base-plan projects now in service 155-MW Energa Sierra Jurez (ESJ) wind project in Mexico 1.2 bcf/d of REX East-to-West capacity Closed sale on remaining block of Mesquite Power plant and…
Business Update Development Opportunities DEVELOPMENT OPPORTUNITIES Mexico 110M San Isidro-Samalayuca CFE pipeline awarded to IEnova Jul-2015(1) IEnova 1.325B purchase agreement for PEMEXs 50% equity interest in their shared joint…
Business Update - LNG Development (1) Cameron Expansion Lowered cost from economies of scale and continuous construction Meeting with large buyers; could be one or two trains (3) depending on market Working to obtain lenders…
Second Quarter 2015 Financial Results Three months ended Six months ended June 30, June 30, (Unaudited; dollars, except EPS, and shares in millions) 2015 2014 2015 2014 GAAP Earnings 295 269 732 516 Adjustments to Loss on SONGS…
Second Quarter 2015 Key Drivers Q2-15 adjusted earnings(1) include the impacts of: 19M higher earnings at Sempra International, primarily from the Los Ramones I pipeline and a section of the Sonora pipeline in Mexico that are now in…
Quarterly Summary Strong quarterly financial performance Q2-15 adjusted earnings(1) consistent with full-year 2015 adjusted earnings guidance(1) of 4.60 per share to 5.00 per share Increased operating earnings, primarily at Sempra…
Business Unit Earnings
SDG&E Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2015 2014 2015 2014 SDG&E GAAP Earnings 126 123 273 222 Adjustments to Loss on SONGS Plant Closure(1) - - (13) 9 SDG&E Adjusted Earnings (2)…
SoCalGas Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2015 2014 2015 2014 SoCalGas Earnings 70 80 284 158 Q2-15 earnings lower primarily due to: 48M reduction in Q2-15 earnings from the…
Sempra International Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2015 2014 2015 2014 Sempra South American Utilities 45 42 86 77 Sempra Mexico 50 34 97 76 Sempra International Earnings 95…
Sempra U.S. Gas & Power Three months ended Six months ended June 30, June 30, (Unaudited, dollars in millions) 2015 2014 2015 2014 Sempra Natural Gas 40 4 42 13 Sempra Renewables 19 18 32 46 Sempra U.S. Gas & Power Earnings 59 22 74 59…
Appendix
Non-GAAP Financial Measures Sempra Energy Adjusted Earnings and Adjusted Earnings-Per-Share (Unaudited) exclude 1) in both the three months and six months ended June 30, 2015, a 36 million gain on the sale of the remaining block of the…
Long-Term Rate Reform Final decision unanimously approved by CPUC on July 3, 2015 Immediate changes implemented no later than November 1, 2015: 10 minimum monthly bill (5 for CARE customers)(1) Reduced tiers from 4 to 3 and reduced…
SoCalGas Seasonalization of Core Gas Revenues(1) 2014 As Reported(2) (U.S. millions) Q1 Q2 Q3 Q4 Total (1) Operating Revenues 1,085 917 855 998 3,855 Earnings 78 80 98 76 332 2014 Seasonally Adjusted (U.S. millions) Q1 Q2 Q3 Q4…
Development Opportunities CFE Pipeline Bids(1) 10 billion of estimated remaining investment in new pipelines by 2018 San Isidro Samalayuca (5) was awarded to Capex (2) Award Map IEnova in July 2015 Awarded Projects Not Yet Awarded…
Mexico Project Summary(1) Ultimate Ownership Length of Expected Contract SRE Share of Planned Name Design Capacity Interest Pipeline (miles) Full COD Term (yrs) CapEx (US M) IN DEVELOPMENT San Isidro Samalayuca 100% 14 1,135 MMcfd…
Renewable Project Summary Name Location Sempras Share (MW) PPA Term (yrs) Tax Credits Expected Full COD CONTRACTED/UNDER CONSTRUCTION Mesquite Solar 3 Arizona 150 MW 25 ITC 2016 Mesquite Solar 2 Arizona 100 MW 20 ITC 2016 Black Oak…
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