STOCK TITAN

Industry-Leading SoCalGas Energy Efficiency Programs Save 40 Million Therms in 2020

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Southern California Gas Co. (SoCalGas) announced it led the U.S. in energy savings among natural gas utilities in 2020, conserving energy equivalent to powering 100,000 homes. The company invested significantly in energy efficiency programs, saving customers over $44 million and reducing greenhouse gas emissions by more than 211,000 metric tons. SoCalGas has helped 1.5 million households and businesses save energy costs, generating over $1 billion in avoided energy costs in the past five years. The utility aims to promote sustainability and reduce natural gas use through various rebate and assistance programs.

Positive
  • SoCalGas achieved the highest energy savings among U.S. natural gas utilities in 2020, conserving energy for 100,000 homes.
  • Customers saved over $44 million in energy costs through efficiency programs.
  • Over 1.5 million households participated in energy-saving initiatives in 2020.
  • SoCalGas generated more than $1 billion in avoided energy costs over the past five years.
  • The utility is committed to enhancing sustainability by planning to replace 20% of its traditional natural gas supply with renewable gas by 2030.
Negative
  • Increased competition in the energy efficiency sector could impact market share.
  • Dependence on regulatory approval for future renewable energy projects could pose risks.

LOS ANGELES, March 17, 2021 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced that last year, the company's energy efficiency programs helped conserve more energy than any other natural gas utility in the U.S. The utility invests more in energy efficiency than any other natural gas local distribution company in the country and currently operates the largest natural gas energy efficiency program. In 2020, SoCalGas' energy efficiency programs saved enough energy to power 100,000 homes in southern California for one year. By using less energy, SoCalGas customers saved more than $44 million in energy costs last year alone and reduced greenhouse gas emissions linked to climate change by more than 211,000 metric tons – equal to removing 45,000 cars from the road.

"Energy efficiency must be the foundation as we build the cleanest, safest and most innovative energy company in America.  The track record for energy efficiency is undisputed: it reduces greenhouse gas emissions while saving our customers money on their bills," said Gillian Wright, senior vice president and chief customer officer at SoCalGas. "As customers think about their natural gas use, they should look to SoCalGas and our energy efficiency rebate and cost-savings programs to help them achieve their own sustainability goals."

SoCalGas' energy efficiency programs have offered consistent energy savings and have been an industry leader for more than a decade. Approximately 1.5 million households and businesses enrolled in the utility's energy efficiency programs in 2020. One of the most effective SoCalGas energy efficiency programs is the home energy report.  Residential customers enrolled in this program receive a personalized report that helps them better understand their natural gas usage and how to use energy wisely to help lower bills. SoCalGas also offers energy efficiency rebates to residential and business customers on hundreds of appliances and products that help conserve energy and reduce costs. To learn more about these measures, click here.

An energy efficient natural gas appliance, over its lifetime, will save customers thousands of dollars in natural gas costs. A tankless water heater can save about $1,500, an efficient traditional water heater about $200. An energy efficient furnace will use about $550 less in natural gas over its lifetime and a smart thermostat, which can learn a customer's schedule and temperature preferences to adjust the temperature in the home accordingly, can save $125 over its lifetime.

In the last five years, SoCalGas' energy efficiency programs have generated over $1 billion in avoided energy costs and delivered more than 219 million therms in energy savings, enough natural gas usage for 548,000 households a year. These energy savings reduced greenhouse gas emissions by 1.15 million metric tons of carbon dioxide, equivalent of removing more than 250,000 cars annually. Overall, these measures have helped SoCalGas customers save over $241 million on their natural gas bill costs over the past five years.

In addition to its energy efficiency programs, SoCalGas' Energy Savings Assistance (ESA) program provides eligible customers with home improvements, at no cost to the renter or homeowner, that help conserve energy, reduce natural gas use and enhance the safety, health, and comfort of the renter or homeowner. SoCalGas provides this service to approximately 100,000 customers each year. To date, more than 1.5 million homes have received upgrades through the ESA program. To learn more, please visit socalgas.com/assistance.

About SoCalGas

Headquartered in Los Angeles, SoCalGas® is the largest gas distribution utility in the United States. SoCalGas delivers affordable, reliable, clean and increasingly renewable gas service to 21.8 million customers across 24,000 square miles of Central and Southern California, where more than 90 percent of residents use natural gas for heating, hot water, cooking, drying clothes or other uses. Gas delivered through the company's pipelines also plays a key role in providing electricity to Californians— about 45 percent of electric power generated in the state comes from gas-fired power plants.

SoCalGas' mission is to build the cleanest, safest and most innovative energy company in America, delivering affordable and increasingly renewable energy to its customers. In support of that mission, SoCalGas is committed to replacing 20 percent of its traditional natural gas supply with renewable natural gas (RNG) by 2030. Renewable natural gas is made from waste created by dairy farms, landfills and wastewater treatment plants. SoCalGas is also committed to investing in its gas delivery infrastructure while keeping bills affordable for our customers. From 2015 through 2019, the company invested nearly $7 billion to upgrade and modernize its pipeline system to enhance safety and reliability. SoCalGas is a subsidiary of Sempra Energy (NYSE: SRE), an energy services holding company based in San Diego. For more information visit socalgas.com/newsroom or connect with SoCalGas on Twitter (@SoCalGas), Instagram (@SoCalGas) and Facebook.  

About Southern California Gas Co.: Southern California Gas Co. (SoCalGas) has been delivering clean, safe and reliable natural gas to its customers for more than 145 years. It is the nation's largest natural gas distribution utility, providing service to 21.6 million consumers connected through 5.9 million meters in more than 500 communities. The company's service territory encompasses approximately 20,000 square miles throughout central and Southern California, from Visalia to the Mexican border. SoCalGas is a regulated subsidiary of Sempra Energy (SRE), a Fortune 500 energy services holding company based in San Diego.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/industry-leading-socalgas-energy-efficiency-programs-save-40-million-therms-in-2020-301249549.html

SOURCE Southern California Gas Company

FAQ

What energy savings did SoCalGas achieve in 2020?

SoCalGas conserved energy equivalent to powering 100,000 homes in 2020.

How much money did customers save through SoCalGas energy efficiency programs?

Customers saved over $44 million in energy costs in 2020.

What is SoCalGas planning for renewable energy by 2030?

SoCalGas aims to replace 20% of its traditional natural gas supply with renewable natural gas by 2030.

What programs does SoCalGas offer to assist customers?

SoCalGas offers various rebate and assistance programs for energy efficiency and conservation.

How many households are enrolled in SoCalGas energy efficiency programs?

Approximately 1.5 million households and businesses were enrolled in 2020.

Sempra

NYSE:SRE

SRE Rankings

SRE Latest News

SRE Stock Data

54.74B
632.96M
0.02%
92.12%
2.62%
Utilities - Diversified
Gas & Other Services Combined
Link
United States of America
SAN DIEGO