Sempra Energy

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Sempra Energy
Public
Traded as NYSESRE
S&P 500 Component
Industry Natural gas utility
Founded 1998
Headquarters San Diego, United States
Key people
Debra L. Reed
(Chairman and CEO)
Mark A. Snell
(President)
Number of employees
17,000
Website www.sempra.com

Sempra Energy is an American natural gas utilities 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 International and Sempra US Gas & Power.[1][2]

For 2014, Sempra Energy reported $11 billion in revenue and 17,000 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.

History[edit]

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.[3]

'Sempra International', a subsidiary of Sempra Energy owns nearly 80% of the Peruvian listed Luz del Sur.[4] Luz del Sur (BVL: LUSURC1). Luz del Sur is one of the largest electricity distributors in Peru, holding over 30% of the country's electricity distribution market.

Awards and Rankings[edit]

Sempra Energy ranked No. 281 on the 2013 list of Fortune 500 companies. Sempra ranked No.16 among gas and electric utilities.

Sempra Energy was named to the 2013 list of the “100 Best Corporate Citizens”[5] by Corporate Responsibility Magazine for excellence in seven categories including: environmental stewardship; climate change; human rights; employee relations; financial performance; philanthropy; and corporate governance. Sempra moved up to 27th place after achieving a rank of 70th in 2012.

Sempra Energy earned a spot on Ethisphere’s 2013 World’s Most Ethical Companies’ list[6] for leadership in promoting ethical business practices and initiatives. Sempra was one of four companies recognized in its industry.

Best Places to Work for LGBT Equality 2012[citation needed]

Sempra Energy was named one of the best places to work by the Human Rights Campaign and one of only four companies listed in the energy and utilities category. As the largest civil rights organization, Human Rights Campaign represents a force of more than one million members and supporters nationwide working to achieve equality for lesbian, gay, bisexual and transgender Americans.

2012 Prestigious Index Selections In 2012 Sempra Energy was named to:

Dow Jones Sustainability Index

Carbon Disclosure Project Leadership Index

Number 1 on Target Rock’s High Sustainability Index

Subsidiaries[edit]

Former Subsidiaries[edit]

The following subsidiaries have been reformed into Sempra International and Sempra U.S. Gas & Power:[2]

  • 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.[9]
  • 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.[9]
  • Sempra LNG - develops, owns and operates receipt terminals for importing liquified natural gas to the U.S., including the Energía Costa Azul LNG LNG terminal in Baja California and the Cameron LNG terminal in Hackberry, Louisiana.[9]
  • 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.[9] 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.[10]

See also[edit]

References[edit]

  1. ^ Sempra Energy 2009 Form 10-K, 2010-02-26 
  2. ^ a b c d "10-Q: Sempra Energy". Marketwatch. The Wall Street Journal. Retrieved 2 July 2013. 
  3. ^ Associated Press (2010-04-28), "Sempra Energy to Pay $410 Million Settlement", New York Times 
  4. ^ "Luz del Sur, Peru". Sempra International. Retrieved 2013-08-31. 
  5. ^ "100 Best Corporate Citizens". 
  6. ^ "Most Ethical Companies’ List". 
  7. ^ Alissa Walker (December 28, 2015). "A California Gas Leak Is the Biggest Environmental Disaster Since the BP Oil Spill". Gizmodo. Retrieved December 31, 2015. 
  8. ^ Andrew Freedman (December 24, 2015). "'Unprecedented' gas leak in California is the climate disaster version of BP's oil spill". Mashable. Retrieved December 31, 2015. 
  9. ^ a b c d Sempra Energy 2009 Form 10-K, Exhibit 13.1: Financial Report, 2010-02-26 
  10. ^ "Darling hails Lloyds and RBS move", BBC News Online, 2009-11-03 

External links[edit]