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April 25, 2015 11:24 AM ET

Multi-Utilities

Company Overview of San Diego Gas & Electric Company

Company Overview

San Diego Gas & Electric Company transports, distributes, and sells natural gas and electricity. As of December 31, 2014, it owned and operated 4 natural gas-fired power plants, including a 566- Megawatt (MW) electric generation facility located in Escondido; a 96-MW electric generation peaking facility located in San Diego; and a 47-MW electric generation facility located in El Cajon of California, as well as a 485-MW electric generation facility located in Boulder City, Nevada. The company also had 2,090 miles of electric transmission lines and 23,158 miles of electric distribution lines; 2,960 miles of natural gas transmission and storage pipelines; 50,001 miles of natural gas distributio...

8326 Century Park Court

San Diego, CA 92123

United States

Founded in 1905

4,300 Employees

Phone:

619-696-2000

Key Executives for San Diego Gas & Electric Company

Chief Executive Officer and Director
Age: 52
President, Chief Operating Officer and Director
Age: 58
Vice President, Chief Financial Officer, Chief Accounting Officer, Controller and Treasurer
Age: 46
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

Southern California Gas Co. and San Diego Gas & Electric Company Announces Executive Changes, Effective March 28, 2015

On March 6, 2015, Mr. Robert M. Schlax resigned as the Chief Financial Officer, Chief Accounting Officer, Controller, and Treasurer of Southern California Gas Company (SoCalGas) and San Diego Gas & Electric Company effective March 28, 2015. He will continue to serve as a Vice President of SoCalGas and SDG&E until his anticipated retirement this summer. On March 6, 2015, the Boards of Directors of SoCalGas and SDG&E elected Mr. Bruce A. Folkmann as Chief Financial Officer, Chief Accounting Officer, Controller, Treasurer and Vice President of SoCalGas and SDG&E effective March 28, 2015. Mr. Folkmann, 47, has served as the Vice President and Chief Financial Officer of Sempra U.S. Gas & Power, an operating unit of Sempra Energy, since 2013. Prior to that, he served as Vice President and Controller of USG&P from 2012 through 2013, as Acting Controller of Sempra Energy from 2011 to 2012, and as Assistant Controller of Sempra Energy from 2008 to 2011.

San Diego Gas & Electric Plans to Launch New Water-Wise Landscaping Project at Century Park

San Diego Gas & Electric, in collaboration with Diego County and water officials, is planning to launch its new water-wise landscaping project at Century Park, its Kearny Mesa headquarters. The new project is likely to save the company more than four million gallons of water per annum.

San Diego Gas & Electric Company Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

San Diego Gas & Electric Company announced unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company’s earnings increased to $128 million from $119 million in 2013, due primarily to higher margin from electric transmission and CPUC base operations, and lower legal costs, offset by the $12 million charge related to the SONGS closure. Adjusted earnings were $140 million against $119 million a year ago. For the year, the company’s earnings increased to $507 million from $404 million in 2013. SDG&E's 2014 results included announced earnings results for the charge of $21 million related to the closure of SONGS. In 2013, SDG&E took a $119 million charge related to the SONGS closure, offset by $52 million in retroactive earnings for 2012 operations as a result of the CPUC General Rate Case decision. Adjusted earnings were $528 million against $471 million a year ago.

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