Net income for Sempra Utilities – San Diego Gas & Electric and Southern California Gas – rose 12% to $131 million in the first quarter of 2008 from $117 million in the same period of 2007.
Sempra Commodities earned $59 million in the first quarter of 2008, compared to earnings of $71 million in the same period of 2007. First quarter 2008 net income for Sempra Generation was $45 million, compared with $54 million in 2007.
Sempra Pipelines & Storage’s net income increased to $26 million in the first quarter of 2008 from $16 million in the same period of 2007. Sempra LNG recorded a net loss of $9 million, compared with a net loss of $10 million in the first quarter of 2007.
Donald Felsinger, chairman and CEO of Sempra Energy, said: This is a milestone year for Sempra Energy, our 10th anniversary. Since Sempra Energy’s inception, our average annual total return to shareholders has been 12%, more than twice the returns of the major market indices. We will continue to produce strong results in the future, based on the significant progress we have made on our key operational initiatives.
