Strategy and assets
At Sempra Energy, we work to deliver robust growth within our three primary platforms — U.S. utilities;
international utilities; and long-term, contracted energy infrastructure.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2015 revenues of more than $10.2 billion. The Sempra Energy companies’ 17,000 employees serve more than 32 million consumers worldwide.
Sempra Energy was created in 1998 by the merger of the parent companies of San Diego Gas & Electric® and Southern California Gas Company, two investor-owned utilities with rich histories dating back more than a century. Today, two additional businesses – Sempra U.S. Gas & Power and Sempra International – invest in, develop and operate critical energy infrastructure and provide gas and electricity services in North and South America. Our subsidiaries’ infrastructure includes 124,440 miles of natural gas pipelines and 49,348 miles of electric transmission and distribution lines; two liquefied natural gas receipt terminals, 179 billion cubic feet of natural gas storage, five natural gas-fired power plants; and nearly 4,800 acres of solar plants and 735 wind turbines, which they operate with partners.
At Sempra Energy, our objective is to increase shareholder value by developing and operating long-term-contracted energy infrastructure assets and regulated utilities in a safe and reliable manner. The key components of our business strategy include the following three disciplined growth platforms:
- U.S. utilities;
- International utilities;
- Long-term-contracted energy infrastructure (including liquefied natural gas [LNG], pipelines and renewable energy)
This strategy has been shaped by the rising demand for lower-carbon sources of energy: We place a priority on developing natural gas and renewable energy infrastructure, and we focus on improving energy efficiency and innovating for the future. This helps us meet the energy needs of our customers and maintain a stable rate of growth in an increasingly carbon-constrained world.
Dollars in millions, except per-share amounts
|Earnings per share of common stock:|
|Weighted average number of common shares outstanding (diluted, in millions)||$249.30||$250.70||$250.90|
|Common dividends declared per share||$2.52||$2.64||$2.80|
|Debt to total capitalization||52%1||54%1||54%1|
|Book value per share||$45.03||$45.98||$47.56|
|Capital expenditures & investments||$2,594||$3,363||$3,356|
*Please see Report overview for an explanation and reconciliation of these non-GAAP financial measures.
1 As adjusted for the retrospective adoption of Accounting Standards Update 2015-03, Interest – imputation of interest: Simplifying the Presentation of Debt Issuance Costs.
Sempra Energy’s values and code of conduct guide the implementation of this strategy: What we do is important, but how we do it is even more critical. We strive to be a responsible partner: ethical, respectful, high-performing and forward-looking. We engage with our stakeholders – our customers, employees, investors, business partners, regulators and the communities we serve – and consider and incorporate their feedback when we can, building trust and strengthening relationships.
Our energy assets
Sempra Energy’s California utilities, San Diego Gas & Electric and SoCalGas, serve more than 20 million consumers. And its other businesses – Sempra U.S. Gas & Power and Sempra International – develop and operate critical energy infrastructure and provide gas and electricity services in North America and South America.
To learn more about Sempra Energy’s companies, and view the full-sized interactive map, visit Sempra.com.
Southern California Gas Company
Southern California Gas Co. (SoCalGas) has been delivering clean, safe and reliable natural gas to its customers for more than 145 years. It is the nation’s largest natural gas distribution utility, providing service to 21.6 million consumers connected through 5.9 million meters in more than 500 California communities. The company’s service territory encompasses approximately 20,000 square miles from Visalia to the Mexican border.
San Diego Gas & Electric
Founded in 1881, San Diego Gas & Electric (SDG&E) is a regulated public utility that provides safe and reliable energy service to 3.6 million consumers through 1.4 million electric meters and 873,000 natural gas meters in San Diego and southern Orange counties. The utility’s service area spans 4,100 square miles.
Sempra U.S. Gas & Power
Sempra U.S. Gas & Power is a leading developer of renewable energy and natural gas solutions, with a focus on zero- and low-emission fuels. Together with its affiliates and joint-venture partners, the company owns, operates or has under construction more than 2,000 megawatts of solar and wind capacity. These facilities collectively generate enough power for nearly 600,000 homes annually. Sempra U.S. Gas & Power companies also operate natural gas storage facilities, pipelines and distribution utilities.*
*As of May 15, 2016, Mobile Gas and Willmut Gas were in the process of being sold.
Sempra International develops, owns and operates energy infrastructure assets, and distributes energy in Latin America. In Mexico, the company owns a controlling interest in IEnova, the first energy firm to be listed on the Mexican stock exchange and one of the largest private energy companies in the country. Sempra International also operates electric utilities in Chile and Peru.