Company: SREA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001032208-25-000048
Chunk: 101

Company: SEMPRA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 101
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$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 intercompany activity.

In the three months ended June 30, 2025 compared to the same period in 2024, Sempra’s O&M decreased by $94 million (7%) primarily due to:

▪$106 million decrease at Sempra California due to:

◦$125 million lower expenses associated with refundable programs, which costs are recovered in revenue

Offset by:

◦$19 million higher non-refundable operating costs

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Offset by: 

▪$9 million increase at Parent and other primarily due to higher deferred compensation expense

In the six months ended June 30, 2025 compared to the same period in 2024, Sempra’s O&M increased by $37 million (1%) primarily due to:

▪$65 million increase at Sempra California due to:

◦$55 million higher expenses associated with refundable