Sempra Energy

Sempra Energy
Public
Traded as
Industry Natural gas utility
Founded 1998 (1998)
Headquarters San Diego, United States
Key people
Revenue Increase US$ 11.21 billion (2017)
Decrease US$ 2.24 billion (2017)
Decrease US$ 351 million (2017)
Total assets Increase US$ 50.45 billion (2017)
Total equity Decrease US$ 15.14 billion (2017)
Number of employees
 16,046 (2017)
Subsidiaries
Website www.sempra.com
Footnotes / references
[1]
Sempra Energy Building

Sempra Energy is an American natural gas utilities holding company based in San Diego, California. It divides its interests into two broad categories: California utilities, including Southern California Gas Company (SoCalGas) and San Diego Gas & Electric (SDG&E); and businesses not subject to California utilities regulation, chiefly Sempra International and Sempra U.S. Gas & Power.[2][3]

For 2017, Sempra Energy reported more than $11.2 billion in revenue and 16,000 employees, serving more than 32 million customers worldwide. It is the largest natural gas utility in the United States in terms of coverage area and population served, and is a major force in international natural gas markets.[1]

History

Sempra Energy was created through the 1998 merger of Los Angeles-based Pacific Enterprises, the parent company of SoCalGas, and Enova Corporation, the parent company of SDG&E.[4]

Sempra was sued over claims it manipulated natural gas supplies and electricity contracts during the 2001 California electricity crisis. In 2006, the company agreed to pay $377 million to settle gas supply claims, and in 2010 another $410 million to settle claims on electricity price gouging, but has never admitted wrongdoing.[5]

On March 8, 2018, regulators in Texas approved Sempra Energy's purchase of a majority stake in Oncor for $9.45 billion.[6]

Subsidiaries

Current

  • San Diego Gas & Electric: SDG&E is a regulated public utility, providing electricity and natural gas to San Diego and southern Orange counties. The utility provides service to 3.6 million consumers across 4,100 square miles.
  • Southern California Gas Company: SoCalGas, based in Los Angeles, is the nation’s largest natural gas distribution utility, providing service to 21.6 million consumers. The utility’s service area spans approximately 20,000 square miles, from Visalia to the Mexican border.
  • Sempra International: Sempra International develops, owns and operates energy infrastructure assets, and distributes energy in Latin America. The company also operates liquefied natural gas receipt terminals and liquefaction terminals in the U.S. and Mexico. In Mexico, Sempra International owns a controlling interest in IEnova, the first energy firm to be listed on the Mexican stock exchange. The company also operates electric utilities in Chile and Peru.
  • Sempra U.S. Gas & Power: Sempra U.S. Gas & Power develops clean power solutions in markets throughout the U.S. with a focus on zero and low-emission fuels. With its affiliates and joint-venture partners, the company owns and operates more than 2,000 megawatts of renewable generating capacity. Sempra U.S. Gas & Power also operates natural gas storage facilities, pipelines and distribution utilities.

Former

The following subsidiaries have been reformed into Sempra International and Sempra U.S. Gas & Power:[3]

  • Sempra Generation: Operates or owns interest in power stations in five U.S. states and in Mexico, as well as property for potential solar and wind electric generation.[7]
  • Sempra Pipelines & Storage: Owns natural gas storage facilities in Alabama and Louisiana and interests in two natural gas companies in Argentina, Chilquinta Energía of Chile, and Luz del Sur of Peru. It also owns 1,858 miles of distribution pipelines, 216 miles of transmission pipelines, and two compressor stations in Mexico.[7]
  • Sempra LNG: Develops, owns and operates receipt terminals for importing liquefied natural gas to the U.S., including the Energía Costa Azul LNG terminal in Baja California and the Cameron LNG terminal in Hackberry, Louisiana.[7]
  • Sempra Commodities: Sempra's stake in a partnership formed on April 1, 2008 to market and trade natural gas, natural gas liquids, power, petroleum and petroleum products, coal, emissions, ethanol and base metals.[7] Royal Bank of Scotland Group sold its stake in RBS Sempra Commodities LLC to Noble Americas Gas and Power, as a condition of the UK Government's 74 percent stake in the Group on Dec. 1, 2010.[8]

Awards and recognition

Sempra Energy has received a number of awards for supporting LGBT equality in the workplace.[9] The company has also been named to a number of stock market indexes focused on sustainability.[10]

See also

References

  1. 1 2 "U.S. SEC: Form 10-K Sempra Energy". United States Securities and Exchange Commission. Retrieved September 6, 2018.
  2. ↑ Sempra Energy 2009 Form 10-K, 2010-02-26
  3. 1 2 "10-Q: Sempra Energy". Marketwatch. The Wall Street Journal. Retrieved 2 July 2013.
  4. ↑ "Pacific, Enova Merger Wins Final OK". latimes.com. 1998-06-27. Retrieved 2016-06-06.
  5. ↑ Associated Press (2010-04-28), "Sempra Energy to Pay $410 Million Settlement", New York Times
  6. ↑ Brickley, Peg (March 8, 2018). "Texas Regulators Approve Sempra's $9.45 Billion Oncor Buyout". The Wall Street Journal. The New York Times, New York City, United States. Retrieved March 9, 2018.
  7. 1 2 3 4 Sempra Energy 2009 Form 10-K, Exhibit 13.1: Financial Report, 2010-02-26
  8. ↑ "Darling hails Lloyds and RBS move", BBC News Online, 2009-11-03
  9. ↑ http://www.hrc.org/resources/best-places-to-work-2016
  10. ↑ http://www.trcri.com/index.php?pg=esgus
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