November 27, 2014 7:36 PM ET

Multi-Utilities

Company Overview of San Diego Gas & Electric Company

Company Overview

San Diego Gas & Electric Company operates as a regulated public utility that provides energy and natural gas services. It sells and transports natural gas, as well as transmits and wholesales electricity. The company owns and operates four natural gas-fired power plants in California and Nevada. Its electric transmission and distribution facilities include substations, and overhead and underground lines. As of December 31, 2013, the company’s electric facilities consisted of approximately 2,076 miles of transmission lines and 23,891 miles of distribution lines in San Diego, Imperial, and Orange counties of California, as well as in Arizona and Nevada. As of December 31, 2013, its natural gas...

8326 Century Park Court

San Diego, CA 92123

United States

Founded in 1905

4,603 Employees

Phone:

619-696-2000

Key Executives for San Diego Gas & Electric Company

Chief Executive Officer
Age: 52
President
Age: 58
Chief Financial Officer
Age: 58
Chairman of Sempra Energy and Chief Executive Officer of Sempra Energy
Age: 58
Chief Executive Officer of Southern California Gas Co. and President of Southern California Gas Co.
Age: 53
Compensation as of Fiscal Year 2014.

San Diego Gas & Electric Company Key Developments

San Diego Gas & Electric Company Reports Earnings Results for the Third Quarter and Nine Months Ended of September 2014

San Diego Gas & Electric Company reported earnings results for the third quarter and nine months ended of September 2014. For the quarter, the company’s earnings were $157 million, compared with $129 million in the third quarter of last year, due primarily to higher CPUC base operating margin and favorable resolution of prior-years' income tax items. Revenues were $1,233 million compared to $1,063 million a year ago. Income before interest and tax was $285 million compared to $273 million a year ago. For the first nine months of 2014, the company’s earnings were $379 million, compared with $285 million in the first nine months of 2013. Adjusted earnings were $388 million, compared with adjusted earnings of $352 million in the first nine months of 2013. Revenues were $3,283 million compared to $3,066 million a year ago. Income before interest and tax was $768 million compared to $586 million a year ago.

TAS Energy Inc. Settles Patent Infringement Suit Against San Diego Gas & Electric Relating to a Turbine Inlet Air Chilling System

TAS Energy Inc. announced that it has settled a patent infringement suit against San Diego Gas & Electric (SDG&E), relating to a turbine inlet air chilling system at SDG&E's Palomar Energy Center in California. In the suit, TAS Energy alleged that the chilling system at Palomar, which SDG&E purchased from General Electric Company, infringed a number of TAS Energy patents. As part of the settlement, General Electric and SDG&E acquired from TAS Energy a license under the TAS patents at issue to the chilling system in use at the Palomar facility.

San Diego Gas & Electric Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

San Diego Gas & Electric reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, earnings were $123 million, up from $65 million in last year's second quarter, due primarily to higher CPUC base margin and improved operating results. The second-quarter 2013 earnings included $69 million in retroactive earnings from the General Rate Case decision, offset by the $119 million charge related to the closure of SONGS. Excluding the SONGS charge and the retroactive earnings from the General Rate Case, adjusted second-quarter 2013 earnings were $115 million. For the six months, earnings were $222 million, compared with $156 million in 2013. Excluding the charges related to SONGS in both years and 2013 retroactive earnings from the General Rate Case related to 2012 operations, adjusted earnings were $231 million, compared with adjusted earnings of $223 million in the first half of 2013.

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