Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 285

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 285
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Wildfire mitigation plan982 808 982 808 — — Liability insurance premium(53)(24)(43)(15)(10)(9)Other balancing accounts77 158 (170)(51)247 209 Other regulatory assets, net(3)102 164 71 87 31 79 Total$767 $39 $(262)$(736)$1,005 $707 (1)    At September 30, 2025, $47 is classified as Assets Held for Sale on the Sempra Condensed Consolidated Balance Sheet. (2)    At September 30, 2025 and December 31, 2024, the noncurrent portion of regulatory balancing accounts – net undercollected for Sempra is $1,627 and $1,731, respectively, for SDG&E is $990 and $873, respectively, and for SoCalGas is $637 and $858, respectively.(3)    Includes regulatory assets earning a return authorized by applicable regulators, which generally approximates the three-month commercial paper rate.In July 2025, the CPUC issued an FD that authorizes partial recovery of costs recorded in SoCalGas’ Catastrophic Event Memorandum Account. The FD authorizes the recovery of $19 million out of the requested $55 million, denying recovery of COVID-19 costs included in the Catastrophic Event Memorandum Account. In the nine months ended September 30, 2025, SoCalGas recorded a write-off of $36 million ($25 million after tax) in disallowed costs, comprising a $29 million reduction in Utilities: Natural Gas Revenues and a $7 million reduction in regulatory interest in Other (Expense) Income, Net, on Sempra’s and SoCalGas’ Condensed Consolidated Statements of Operations. SoCalGas has filed a request with the CPUC for a rehearing of the FD. SoCalGas expects to receive a post-rehearing FD in the first half of 2026.

53

CPUC GRCThe CPUC uses GRCs to set base revenues to allow SDG&E and SoCalGas to recover their reasonable operating costs and to provide the opportunity to realize their authorized rates of return on their capital investments. In December 2024, the CPUC approved an FD in the 2024 GRC for SDG&E and SoCalGas that authorizes SDG&E’s and SoCalGas’