Sempra Energy
 |
|
| Type | Public (NYSE: SRE) S&P 500 Component |
|---|---|
| Industry | Utilities, LNG |
| Founded | 1998 |
| Headquarters | San Diego, CA, USA |
| Key people | Donald E. Felsinger, CEO/Chairman Neal E. Schmale COO/President Mark Snell CFO/Executive Vice President Javade Chaudhri Executive Vice President and General Counsel Debra L. Reed Executive Vice President |
| Employees | 13,800 |
| Website | www.sempra.com |
Sempra Energy (NYSE: SRE) is a Fortune 500 energy services holding company based in San Diego, California. It divides its interests into two broad categories: Sempra Utilities, including Pacific Enterprises/Southern California Gas Company and San Diego Gas & Electric; and Sempra Global, a holding company for businesses not subject to California utilities regulation, chiefly Sempra Commodities, Sempra Generation, Sempra Pipelines & Storage, and Sempra LNG.[1]
For 2009, Sempra Energy reported $8.1 billion in revenue and 13,800 employees, serving about 25 million customers. 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.
Contents |
[edit] History
Sempra Energy was created through the 1998 merger of Los Angeles-based Pacific Enterprises, the parent company of Southern California Gas, and Enova Corporation, the parent company of San Diego Gas & Electric.
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. [2]
[edit] Subsidiaries
- Pacific Enterprises -
Main article: Southern California Gas Company
- San Diego Gas & Electric -
Main article: San Diego Gas & Electric
- Sempra Generation operates or owns interest in power stations in 5 U.S. states and in Mexico, as well as property for potential solar and wind electric generation.[3]
- Sempra Pipelines & Storage - owns natural gas storage facilities in Alabama and Louisiana and interests in two natural gas companies in Argentina, in Chilquinta Energía of Chile, and in Luz del Sur of Peru. It also owns 1858 miles of distribution pipelines, 216 miles of transmission pipelines, and 2 compressor stations in Mexico.[3]
- Sempra LNG - develops, owns and operates receipt terminals for importing liquified natural gas to the U.S., including the Energía Costa Azul LNG terminal in Baja California and the Cameron LNG terminal in Hackberry, Louisiana.[3]
- 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.[3] 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% stake in the Group on December 1, 2010.[4]
[edit] See also
[edit] References
- ^ Sempra Energy 2009 Form 10-K, 2010-02-26, http://sec.gov/Archives/edgar/data/75527/000008652110000019/sre_200910k.htm
- ^ Associated Press (2010-04-28), "Sempra Energy to Pay $410 Million Settlement", New York Times, http://www.nytimes.com/2010/04/29/business/29energy.html
- ^ a b c d Sempra Energy 2009 Form 10-K, Exhibit 13.1: Financial Report, 2010-02-26, http://sec.gov/Archives/edgar/data/75527/000008652110000019/ex13sreannualreport2009.htm
- ^ "Darling hails Lloyds and RBS move", BBC News Online, 2009-11-03, http://news.bbc.co.uk/1/hi/business/8340627.stm
