Company: SREA
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001032208-25-000012
Chunk: 504

Company: SEMPRA
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 504
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 the assumption that all LNG cargoes under the agreement are delivered, less those already confirmed to be diverted as of December 31, 2024.LNG COMMITMENT AMOUNTS(Dollars in millions)Sempra:2025$355 2026640 2027657 2028646 2029402 Total$2,700 Actual LNG purchases were approximately $23 million in 2024, $30 million in 2023 and $108 million in 2022 due to the supplier electing to divert cargoes as allowed by the agreement.

2024 Form 10-K  |  F-134

PPAs Not Accounted for as LeasesPayments on SDG&E’s PPAs could exceed the minimum commitments based on energy needs. These PPAs expire on various dates through 2041. At December 31, 2024, the future minimum payments under long-term PPAs for Sempra and SDG&E are as follows:FUTURE MINIMUM PAYMENTS(1)(Dollars in millions)2025$97 2026116 2027114 2028114 2029114 Thereafter746 Total minimum payments$1,301 (1)    Excludes PPAs accounted for as operating leases and finance leases.Payments on these contracts represent capacity charges and minimum energy and transmission purchases that exceed the minimum commitment. SDG&E is required to pay additional amounts for actual purchases of energy that exceed the minimum energy commitments. SDG&E estimates these variable payments to be $79 million in each of 2025 and 2026, $80 million in each of 2027 through 2029 and $440 million thereafter. Total fixed and variable payments under PPAs not accounted for as leases for Sempra and SDG&E were $326 million in 2024, $325 million in 2023 and $297 million in 2022. 

Construction and Development ProjectsSDG&EAt December 31, 2024, SDG&E has commitments to make future payments of $133 million for construction projects that include:▪$100 million related to construction supply agreements;▪$19 million related to spent fuel management at SONGS; and▪$14 million for infrastructure improvements for electric transmission and distribution systems.SDG&E expects future payments under these contractual commitments to be $115 million in 2025, $1 million in each of 2026 through 2028, $2 million in 2029 and