April 2, 2025
LOS ANGELES — Southern California Gas Company (SoCalGas) has announced the declaration of regular quarterly dividends for its preferred series stock, underscoring the company’s financial stability and ongoing commitment to shareholders. This announcement comes as SoCalGas continues to make significant strides in renewable energy initiatives and infrastructure enhancements.
Dividend Declaration Details
- Preferred Stock, Series A: $0.375 per share
These dividends are scheduled for payment on July 15, 2025, to shareholders recorded as of June 10, 2025. This consistent dividend payout reflects SoCalGas’s robust financial health and its dedication to delivering value to its investors.
Advancements in Renewable Natural Gas
In alignment with California’s ambitious environmental objectives, SoCalGas has achieved a significant milestone by executing its first renewable natural gas (RNG) procurement contract under Senate Bill (SB) 1440. This contract, approved by the California Public Utilities Commission (CPUC) on March 18, 2025, involves collaboration with Organic Energy Solutions (OES) to convert organic waste into RNG for injection into SoCalGas’s pipeline system. This initiative is poised to substantially reduce methane emissions, contributing to the state’s goal of a 40% reduction by 2030.
Infrastructure Investments and Rate Adjustments
To support infrastructure reliability and California’s clean energy transition, SoCalGas has submitted a rate request for the 2024-2027 period to the CPUC. This proposal outlines investments aimed at enhancing the safety and resilience of the gas infrastructure, facilitating the integration of renewable energy sources, and ensuring the delivery of affordable energy to customers. Maryam Brown, President of SoCalGas, emphasized the importance of these investments in maintaining energy reliability during transformative times.
Fleet Electrification Efforts
Demonstrating a commitment to sustainability, SoCalGas has integrated 21 Ford E-Transit electric vans into its fleet. This move aligns with the company’s ASPIRE 2045 sustainability strategy, aiming to replace 50% of its over-the-road fleet with alternative fuel vehicles by 2025 and achieve a 100% zero-emissions fleet by 2035. The introduction of these electric vehicles marks a significant step toward reducing the company’s carbon footprint.
Community Engagement and Workforce Development
SoCalGas continues to invest in community initiatives, notably through its workforce development programs. Collaborations with organizations like the Los Angeles Urban League focus on providing career advancement opportunities in underserved communities, reflecting the company’s dedication to fostering diversity and inclusion within the energy sector.
Regulatory Developments: Aliso Canyon Facility
In December 2024, the California Public Utilities Commission voted to delay the closure of the Aliso Canyon Natural Gas Facility, the site of a significant methane leak in 2015. This decision aims to ensure energy reliability while developing plans to reduce or eliminate reliance on the facility in the future. The move has elicited mixed reactions, balancing community health concerns with the need for stable energy supply.
Conclusion
SoCalGas’s recent activities highlight a multifaceted approach to energy management, encompassing financial stewardship, environmental responsibility, infrastructure enhancement, and community engagement. As the company navigates the evolving energy landscape, these initiatives position SoCalGas to play a pivotal role in California’s sustainable energy future.
