MONDAY AGGREGATE: Sempra Utilities' Cost of Capital Updates; SoCalGas Microgrid Optional Tariff; SDG&E Wildfire Costs

Today's aggregate includes:

• The Sempra Utilities' updated Cost of Capital Mechanism advice-letter filings;
• An ex parte communication involving SoCalGas's Microgrid Optional Tariff;
• An ex parte communication involving the CPUC's General Rate Case Track 2 review of SDG&E’s wildfire mitigation costs from 2019–2022;
• SoCalGas's energy-efficiency Independent Evaluator report assessing third-party EE solicitation activities; and
• Another challenge to the CPUC's December 2025 Diablo Canyon cost-recovery decision.

Cost of Capital

SoCalGas and SDG&E both filed advice letters to update their Cost of Capital Mechanisms to conform to the CPUC’s Test Year 2026 Cost of Capital decision, D.25-12-043.

Recall that D.25-12-043 adopted new capital cost parameters effective January 1, 2026 through December 31, 2028 and directed utilities to continue applying the CCM during the 2026 cycle. (See our summary of the Cost of Capital decision here; excerpts from the commissioners' D.25-12-043 discussion are available here.)