Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 164

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 164
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 preferential treatment regarding open access, increase oversight by regulators and obligations for private companies and reduce the maximum term of certain permits for new projects. For the power sector, the new regulations provide for state prevalence and additional requirements for private projects, increase oversight by regulators and sanctions and establish that self-supply permits remain valid and can migrate voluntarily to the wholesale electricity market.

Although the new laws, regulations, and certain general administrative provisions in the energy sector have been published, the extent of the impact of the 2025 Energy Laws is still uncertain. These laws and future implementation of existing and any new regulations could adversely affect Sempra Infrastructure’s ability to operate its existing assets at their current levels, result in increased costs to Sempra Infrastructure and its customers, adversely impact Sempra Infrastructure’s ability to develop new projects in Mexico, result in decreased revenues and/or cash flows, and negatively impact Sempra Infrastructure’s ability to recover the carrying values of its investments in Mexico, any of which could have a material adverse impact on Sempra’s business, results of operations, financial condition, cash flow and/or prospects.

SOURCES AND USES OF CASH

The following tables include only significant changes in cash flow activities for each of the Registrants.

CASH FLOWS FROM OPERATING ACTIVITIES(Dollars in millions)Nine months ended September 30,SempraSDG&ESoCalGas2025$3,376 $1,343 $1,426 20243,542 1,443 1,370 Change$(166)$(100)$56 Change in regulatory accounts, current and noncurrent$(534)$(215)$(319)Change in accounts receivable(331)(133)(58)Increase in income taxes payable, net(92)Change in net margin posted, current and noncurrent(84)Change in inventories(32)Change in GHG obligations, current and noncurrent23 42 Higher accruals in interest payable50 17 Customer’s early termination of firm transportation agreements52 Higher net income, adjusted for noncash items included in earnings87 68 71 Change in accrued franchise fees92 76 16 Change in GHG allowances, current and noncurrent105 86 41 Change in fixed-price contracts and other derivatives, current and noncurrent134 133 Higher distributions from Oncor Holdings158 Change in accounts payable183 28 130 Other(9)5  $(166)$(100)$56 

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