February 22, 2017 8:49 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, 2015, it owned and operated 4 natural gas-fired power plants, which included a 565- megawatt (MW) electric generation facility located in Escondido; a 96-MW electric generation peaking facility situated in San Diego; and a 45-MW electric generation facility located in El Cajon of California, as well as a 480-MW electric generation facility situated in Boulder City, Nevada. The company also had 1.4 million electric customer meters comprising 1,268,700 residential; 150,100 commercial; 500 industrial; 5,100 direct access; and 2,000 street and highway lighting meters. In addition, ...

8326 Century Park Court

San Diego, CA 92123

United States

Founded in 1905

4,315 Employees

Phone:

619-696-2000

Key Executives for San Diego Gas & Electric Company

President
Age: 51
Chief Financial Officer, Chief Accounting Officer, Vice President, Controller and Treasurer
Age: 48
Chief Operating Officer
Age: 53
Chairman of Sempra Energy and Chief Executive Officer of Sempra Energy
Age: 60
Chief Executive Officer of Southern California Gas Co. and President of Southern California Gas Co.
Age: 55
Compensation as of Fiscal Year 2016.

San Diego Gas & Electric Company Key Developments

San Diego Gas & Electric Invests $80 Million for Upgrading North County Substation

San Diego Gas & Electric Company is planning to invest roughly $80 million in upgrading North County substation to connect 40,000 customers to the interstate power grid. To manage high power grid, two huge "synchronous condensers" will be deployed inside a metal building, which is being constructed at the utility's 1941 San Luis Rey substation. Each condenser is about 20 feet tall and 40 feet long and weighs about 200 tons.

San Diego Gas & Electric Announces Executive Changes

San Diego Gas & Electric (SDG&E) announced that Scott D. Drury becomes president of the energy company. Drury succeeds Jeff Martin, who has become executive vice president and chief financial officer at Sempra Energy. As he steps into the role of President, Drury is focused on advancing SDG&E's efforts in clean, safe and reliable energy. Drury enters the role at a time when SDG&E is emerging as a leader in the race to create the utility of the future.

San Diego Gas & Electric Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Year 2016

San Diego Gas & Electric announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, total revenues were $2,264 million compared to $2,481 million a year ago. earnings, before income tax was $12 million compared to $33 million a year ago. Earnings was $622 million, or $2.46 per diluted share, up from $248 million, or $0.99 per diluted share, in the third quarter 2015. For the nine months, total revenues were $7,313 million compared to $7,530 million a year ago. net cash provided by operating activities was $1,691 million compared to $2,089 million a year ago. Expenditures for property, plant and equipment was $3,087 million compared to $2,227 million a year ago. Earnings were $991 million, or $3.93 per diluted share, compared with $980 million, or $3.91 per diluted share, in the first nine months last year. Adjusted earnings were $884 million, or $3.51 per diluted share, compared with $931 million, or $3.72 per diluted share, in the first nine months of 2015. For the year 2016, GAAP earnings-per-share guidance range of $5 to $5.40 and also reaffirmed its 2016 adjusted earnings-per-share guidance range of $4.60 to $5.

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