Company: SREA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001032208-25-000048
Chunk: 159

Company: SEMPRA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 159
---
 of sales from energy-related businesses increased by $31 million primarily due to $29 million higher natural gas purchases related to asset and supply optimization.

In the six months ended June 30, 2025 compared to the same period in 2024, Sempra’s revenues from energy-related businesses increased by $32 million (4%) primarily due to:

▪$35 million higher revenues driven by satisfaction of performance obligations related to customer payments received in advance from a contract modification in December 2024 on an LNG storage and regasification agreement

▪$14 million higher revenues in 2025 due to the commencement of commercial operations at the Topolobampo marine terminal in June 2024

▪$12 million from asset and supply optimization from contracts to sell natural gas and LNG to third parties, including: 

◦$23 million from higher natural gas prices offset by lower volumes

◦$15 million lower unrealized losses on commodity derivatives 

◦$12 million primarily from higher diversion fees due to higher natural gas prices

Offset by:

◦$38 million from lower optimization of transport and storage contracts primarily due to changes in natural gas prices

Offset by:

▪$11 million from lower power prices from solar generation assets and lower volumes from wind power generation assets

▪$7 million from TdM mainly due to lower volumes

In the six months ended June 30, 2025 compared to the same period in 2024, Sempra’s cost of sales from energy-related businesses increased by $41 million (25%) primarily due to:

▪$43 million driven by higher natural gas purchases related to asset and supply optimization

Offset by:

▪$7 million at TdM driven by lower volumes offset by higher natural gas prices

Operation and Maintenance

OPERATION AND MAINTENANCE(Dollars in millions) Three months ended June 30,Six months ended June 30, 2025202420252024Sempra:Sempra California$1,000 $1,106 $2,175 $2,110 Sempra Texas Utilities1 2 3 4 Sempra Infrastructure213 209 387 398 Segment totals1,214 1,317 2,565 2,512 Parent and other(1)25 16 17 33 Total$1,239 $1,333 $2,582 $2,545 

(1)    Includes eliminations of