The company said the California Public Utilities Commission (CPUC) approved a final decision on December 19, 2024 in the 2024 General Rate Case that sets San Diego Gas & Electric's combined test year 2024 revenue requirement at $2,699 million. That is an increase of $189 million (7.5%) over the authorized 2023 amount.

8-KOther EventsFiled Dec 23, 2024Period of report Dec 19, 2024Summary published (UTC) Oct 24, 2026

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The company said the California Public Utilities Commission (CPUC) approved a final decision on December 19, 2024 in the 2024 General Rate Case that sets San Diego Gas & Electric's combined test year 2024 revenue requirement at $2,699 million. That is an increase of $189 million (7.5%) over the authorized 2023 amount.
The company said the final decision in the 2024 General Rate Case sets SoCalGas’ test year 2024 revenue requirement at $3,806 million. That is an increase of $324 million (9.3%) over the authorized 2023 amount, net of the estimated income tax benefits of $202 million from its gas repairs tax accounting method change that will be flowed through to customers as a pass-through benefit.
The company said the FERC issued an order on December 2024 finding that SDG&E is not eligible for the California ISO adder. As a result, Sempra and SDG&E expect to record a GAAP charge of about $120 million ($89 million after tax) in Q4 2024, all of which will be an adjustment to Sempra's 2024 non-GAAP earnings.
The company said the CPUC on December 19, 2024 approved a final decision in the SB 380 OII finding that Aliso Canyon is necessary for natural gas and electric reliability and affordable rates, and closed the proceeding. The decision allows Aliso Canyon to continue operating and sets the maximum working natural gas storage level at 68.6 bcf.

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Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

SDG&E 2024 test year revenue requirement

The company said the California Public Utilities Commission (CPUC) approved a final decision on December 19, 2024 in the 2024 General Rate Case that sets San Diego Gas & Electric's combined test year 2024 revenue requirement at $2,699 million. That is an increase of $189 million (7.5%) over the authorized 2023 amount.

Source · Based on the filing body and exhibits

SoCalGas 2024 test year revenue requirement

The company said the final decision in the 2024 General Rate Case sets SoCalGas’ test year 2024 revenue requirement at $3,806 million. That is an increase of $324 million (9.3%) over the authorized 2023 amount, net of the estimated income tax benefits of $202 million from its gas repairs tax accounting method change that will be flowed through to customers as a pass-through benefit.

Source · Based on the filing body and exhibits

Costs related to the California ISO adder under FERC order

The company said the FERC issued an order on December 2024 finding that SDG&E is not eligible for the California ISO adder. As a result, Sempra and SDG&E expect to record a GAAP charge of about $120 million ($89 million after tax) in Q4 2024, all of which will be an adjustment to Sempra's 2024 non-GAAP earnings.

Source · Based on the filing body and exhibits

Aliso Canyon final decision and maximum storage level

The company said the CPUC on December 19, 2024 approved a final decision in the SB 380 OII finding that Aliso Canyon is necessary for natural gas and electric reliability and affordable rates, and closed the proceeding. The decision allows Aliso Canyon to continue operating and sets the maximum working natural gas storage level at 68.6 bcf.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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