Company:Sempra Energy

Short description: Natural gas utility holding company

Sempra

Sempra Building
Type	Public
Traded as	NYSE: SRE BMV: SRE DJUA component S&P 500 component
Industry	Electric and natural gas utility
Founded	1998 (1998)
Headquarters	San Diego, California, U.S.
Key people	Jeffrey W. Martin (Chairman and CEO)
Revenue	US$12.857 billion (Fiscal Year Ended 2021)
Net income	US$1.463 billion (Fiscal Year Ended 2021)
Total assets	US$72.045 billion (Fiscal Year Ended 2021)
Total equity	US$27.419 billion (Fiscal Year Ended 2021)
Number of employees	20,000 (2022)
Subsidiaries	SDG&E SoCalGas Oncor Sempra Infrastructure
Website	www.sempra.com
Footnotes / references

Sempra is a North American energy infrastructure company based in San Diego, California . The company is one of the largest utility holding companies in the United States with roughly 40 million consumers. Sempra's focus is on electric and natural gas infrastructure and its operating companies include: Southern California Gas Company (SoCalGas) and San Diego Gas & Electric (SDG&E) in Southern California; Oncor Electric Delivery Company in Texas; and Sempra Infrastructure, with offices in San Diego, Houston and Mexico City.

As of 2021, Sempra reported more than $72 billion in total assets and 20,000 employees. The company is led by chairman and chief executive officer Jeffrey Martin, who assumed that role in May 2018.

Sempra ranks as one of the largest energy companies in the world and is ranked #288 on the Fortune 500 list as of 2021 and #440 on the Forbes Global 2000 list as of 2021. Sempra is the only U.S. energy company included in the Dow Jones Sustainability World Index.

History

1998 to 2018

Sempra Energy, now known as Sempra, 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.

In 1999, the company acquired two utilities in South America; Chilquinta Energia in Chile and Luz Del Sur in Peru, which gave Sempra Energy an entry into the expanding Latin American energy market.

In 2003, Sempra Energy Resources, the former power generation subsidiary of Sempra Energy, completed three state-of-the-art power plant projects in Arizona, California and New Mexico.

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, it paid another $410 million to settle claims on electricity price gouging, but has never admitted wrongdoing.

In 2007, the company created the Sempra Energy Foundation (now known as Sempra Foundation) as a 501(c)(3) private foundation. Since its inception, the foundation has contributed nearly $45 million through philanthropic investments in communities where Sempra employees live and work. The foundation matches employee's charitable contributions and has matched $13 million as of 2021. Sempra reported giving $13.85 million in COVID-19 response across the foundation and its operating companies.

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

2019 to Present

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

Over 2018 and 2019, Sempra completed its divestiture of its U.S. renewables and non-utility natural gas storage assets, generating approximately $2.5 billion in cash proceeds. The company stated its intent to refocus its investments in North American transmission and distribution infrastructure.

In March 2019, Sempra Energy and Oncor Electric Delivery Company announced the acquisition of InfraREIT, and that Sempra Energy’s acquisition of a 50% interest in Sharyland Utilities. These utility deals were lauded by the company as disciplined, low-risk investments in the fast-growing Texas market.

In April 2020, Sempra Energy announced it had completed the sale of its utility business in Peru, Luz del Sur, for $3.59 billion. In June 2020, Sempra Energy announced it completed the sell of its Chilean businesses to China’s State Grid International Development Ltd for $2.23 billion in cash. These two sales completed Sempra Energy's exit from South America.

In June 2021, Sempra Energy announced it was rebranding to Sempra. It launched an updated logo and dropped “Energy” from its name with a view toward emphasizing its core focus on infrastructure that delivers energy.

In 2022, shortly after Russia’s attack on Ukraine, Sempra Infrastructure, a subsidiary of Sempra, announced a series of agreements with European energy companies for U.S. liquefied natural gas (LNG) to help displace reliance on Russian gas.

Operating companies

Current

• Sempra Infrastructure: Sempra Infrastructure was formed in 2021 through a merger of two Sempra operating companies: Sempra LNG and IEnova. The company develops, builds and invests in North American energy infrastructure, including liquefied natural gas fand net-zero solutions, energy networks and clean power. The company developed Cameron LNG, a joint-venture LNG facility in Louisiana. The company is also developing the proposed Port Arthur LNG liquefaction project in Texas three proposed liquefaction-export facilities on the Pacific Coast of Mexico, Energía Costa Azul LNG,  Vista Pacífico LNG and Salina Cruz.
• Southern California Gas Company':' SoCalGas, based in Los Angeles, is the largest natural gas distribution utility in the U.S., providing natural gas service to approximately 22 million consumers, and is an emerging leader in hydrogen and net-zero solutions. In 2022, the company proposed what would be the largest green hydrogen infrastructure system in the U.S., Angeles Link.
• San Diego Gas & Electric':' SDG&E is an electric and natural gas utility that provides energy to approximately 3.6 million consumers in San Diego and southern Orange Counties.
• Oncor Electric Delivery Company LLC':' Oncor, based in Dallas, operates the largest electric distribution and transmission system in the state, providing service to approximately 13 million Texans. Sempra indirectly owns approximately 80 percent of Oncor. In May 2019, Oncor completed the acquisition of InfraREIT, an electricity transmission company in Central, North and West Texas .

Former

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

• Sempra U.S. Gas & Power: 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.
• 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.
• 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.
• 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.
• 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. 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.
• IEnova: IEnova developed, built and operated energy infrastructure in Mexico, and was one of the largest private energy companies in the country. PXiSE Energy Solutions: PXiSE Energy Solutions LLC., headquartered in San Diego, was a subsidiary of Sempra and partially owned by Mitsui & Co., Ltd. It develops, operates and markets next-generation power-grid management technology for renewable energy developers and operators, grid operators, commercial property owners and microgrids. Sempra sold PXiSE Energy Solutions in 2021.

Awards and recognition

In 2022, Sempra was named to Fortune Magazine's World's Most Admired Companies list. The company has received numerous recognitions for leadership in diversity and inclusion, including being named to Bloomberg's Gender Equality Index, Forbes Best Employers for Diversity. and the Human Rights Campaign Foundation's Best Place to Work for LGBTQ Equality. The company has also been named to a number of stock market indexes focused on sustainability. Sempra is one of the only U.S. energy companies included on the Dow Jones Sustainability World Index. Its subsidiaries are routinely recognized for leadership in reliability, resilience, technology and innovation, and corporate responsibility.

See also

• List of United States electric companies
• List of United States natural gas companies
• El Dorado Solar Power Plant
• Luz del Sur
• North Baja Pipeline
• Rockies Express Pipeline

External links

• Official website
• Business data for Sempra Energy:
  • Google Finance
  • Yahoo! Finance
  • Bloomberg
  • Reuters
  • SEC filings