Sempra Energy

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Sempra Energy
Public
Traded as
IndustryElectric and natural gas utility
Founded1998; 21 years ago (1998)
HeadquartersSan Diego, United States
Key people
RevenueUS$ 11.687 billion (2018)
US$ 1,126 million (2018)
Total assetsUS$ 60.64 billion (2018)
Total equityUS$ 19.25 billion (2018)
Number of employees
20,000 (2018)
Subsidiaries
Websitesempra.com
Footnotes / references
[1]

Sempra Energy is a North American energy infrastructure company based in San Diego, California. Sempra Energy's focus is on electric and natural gas infrastructure. Its operating companies include: Southern California Gas Company (SoCalGas) and San Diego Gas & Electric (SDG&E) in Southern California; Oncor Electric Delivery Company (Oncor) in Texas; Sempra LNG; and IEnova, based in Mexico.[2][3]

For 2018, Sempra Energy reported more than $11.6 billion in revenue and 20,000 employees,[4] serving more than 40 million customers worldwide.

History[edit]

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.[5]

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.[6]

On March 8, 2018, regulators in Texas approved Sempra Energy's purchase of a majority stake in Oncor for $9.45 billion.[7]

On January 16, 2019, Sempra Energy was added to the Dow Jones Utility Average, replacing Pacific Gas and Electric.

Sempra Energy and Aramco signed a deal to supply LNG for Saudi Arabia in May 2019.[8][9]

Operating Companies[edit]

Current[edit]

  • Sempra LNG: Sempra LNG develops, builds and invests in liquefied natural gas facilities and natural gas infrastructure in North America. Cameron LNG, a joint-venture LNG facility under construction in Louisiana, is expected to be one of the first U.S. liquefaction-export projects to commence operations in 2019. The company is also developing the proposed Port Arthur LNG liquefaction project in Texas and the proposed liquefaction-export facilities at the Energia Costa Azul receipt terminal in Ensenada, Mexico.
  • Southern California Gas Company: SoCalGas, based in Los Angeles, is the largest natural gas distribution utility in the U.S., providing safe, reliable and increasingly renewable natural gas service to approximately 21.9 million consumers.[10]
  • IEnova: IEnova develops, builds and operates energy infrastructure in Mexico, and is one of the largest private energy companies in the country.
  • San Diego Gas & Electric: SDG&E is an electric and natural gas utility that provides clean, safe and reliable energy to approximately 3.7 million consumers in San Diego and southern Orange Counties.
  • Oncor Electric Delivery Company LLC: Oncor, based in Dallas, operates the largest distribution and transmission system in the state, providing safe and reliable service to approximately 10 million Texans. Sempra Energy indirectly owns approximately 80 percent of Oncor.
  • Sempra Energy also operates electric utilities in Chile and Peru.[11]

Former[edit]

The following subsidiaries have been reformed into Sempra LNG & Midstream and Sempra Renewables:[12]

  • 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.[citation needed]
  • 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.[13]
  • 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.[13]
  • 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.[13]
  • 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.[13] 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 December 1, 2010.[14]

Awards and recognition[edit]

Sempra Energy has received a number of awards for supporting LGBT equality in the workplace.[15] The company has also been named to a number of stock market indexes focused on sustainability.[16]

See also[edit]

References[edit]

  1. ^ "U.S. SEC: Form 10-K Sempra Energy". United States Securities and Exchange Commission. Retrieved September 6, 2018.
  2. ^ "Sempra Energy 2018 10-K".
  3. ^ "10-K: Sempra Energy". Marketwatch. Retrieved July 2, 2016.
  4. ^ "Sempra Energy". Fortune. Retrieved November 25, 2018.
  5. ^ "Pacific, Enova Merger Wins Final OK". latimes.com. June 27, 1998. Retrieved June 6, 2016.
  6. ^ Associated Press (April 28, 2010), "Sempra Energy to Pay $410 Million Settlement", New York Times
  7. ^ 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.
  8. ^ McFarlane, Sarah; Said, Summer; Puko, Timothy (May 22, 2019). "Saudi Arabia Lines Up Deal to Buy U.S. Natural Gas". Wall Street Journal. ISSN 0099-9660. Retrieved May 22, 2019.
  9. ^ Clemente, Jude. "Saudi Arabia Ventures Into U.S. Natural Gas". Forbes. Retrieved May 22, 2019.
  10. ^ "As Cold Temperatures Continue, SoCalGas Provides Customers Tips to Save on Home Heating and Hot Water Costs". finance.yahoo.com. Retrieved January 26, 2019.
  11. ^ "Sempra Renewables". Sempra Renewables. Retrieved January 7, 2019.
  12. ^ investor.sempra.com http://investor.sempra.com/static-files/1ef5142e-b449-4abb-94b7-eb58861c60d9. Retrieved January 7, 2019. Missing or empty |title= (help)
  13. ^ a b c d Sempra Energy 2009 Form 10-K, Exhibit 13.1: Financial Report, February 26, 2010
  14. ^ "Darling hails Lloyds and RBS move", BBC News Online, November 3, 2009
  15. ^ http://www.hrc.org/resources/best-places-to-work-2016
  16. ^ http://www.trcri.com/index.php?pg=esgus

External links[edit]