Utilities
Sempra's Q2 2026 earnings surged 73% to $796 million, fueled by a rate surcharge at Oncor, commodity derivative gains, and tax benefits from held-for-sale classifications of SI Partners and Ecogas.
Key risk: Regulatory and rate case outcomes
Sempra's utilities rely on favorable regulatory decisions for cost recovery and returns. Adverse rulings, like the 2025 disallowance of COVID-19 costs, could impact earnings. Future GRC decisions or FERC settlements may not replicate the recent favorable TO6 settlement.
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