Company type | Public |
---|---|
Industry | Utilities |
Founded | 1998 |
Headquarters | San Diego, California, U.S. |
Key people | Jeffrey W. Martin (Chairman and CEO) |
Revenue | US$16.7 billion (2023) |
US$3.6 billion (2023) | |
Total assets | US$87.2 billion (2023) |
Total equity | US$33.7 billion (2023) |
Number of employees | 20,000 (2023) |
Subsidiaries | |
Website | sempra |
Footnotes /references Financials as of March 25,2024 [update] . References: [1] |
Sempra is a North American public utility holding company based in San Diego, California. The company is one of the largest utility holding companies in the United States with nearly 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 California and Texas.
As of 2023, Sempra reported more than $87.2 billion in total assets and over 20,000 employees. [2] 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 #285 on the Fortune 500 list as of 2023 and #312 on the Forbes Global 2000 list as of 2023. In 2024, Sempra was named one of the World's Most Admired Companies by Fortune Magazine, marking the 14th year the company is on this prestigious list. [3] Sempra was also recognized by Newsweek as one of America's Most Responsible Companies, earning this distinction for the fifth consecutive year. [4]
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. [5]
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. [6]
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. [7] 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. [7]
In 2007, the company created the Sempra Energy Foundation (now known as Sempra Foundation) as a 501(c)(3) private foundation. [8] Since its inception, the foundation has contributed nearly $45 million through philanthropic investments in communities where Sempra employees live and work. The foundation matches employees' 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. [9]
On March 8, 2018, regulators in Texas approved Sempra Energy's purchase of a majority stake in Oncor for $9.45 billion. [10]
2019 to Present
On January 16, 2019, Sempra Energy was added to the Dow Jones Utility Average, replacing Pacific Gas and Electric. [11]
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 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. [12] In June 2020, Sempra Energy announced it completed the sale 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. [13]
In June 2021, Sempra Energy announced it was rebranding to Sempra. It launched an updated logo and dropped "Energy" from its name to emphasize its core focus on infrastructure that delivers energy.
In 2022, shortly after Russia attacked 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.
In 2024, Sempra announced a record five-year capital plan of $48 billion for 2023-2028, to improve safety, bolster reliability and support the delivery of cleaner sources of energy across its three growth platforms: Sempra California, Sempra Texas and Sempra Infrastructure. [14]
The following subsidiaries have been reformed into Sempra LNG & Midstream and Sempra Renewables: [17]
In 2024, Sempra was named to Fortune Magazine's World's Most Admired Companies list [21] and was also recognized by Newsweek as one of America's Most Responsible Companies. [4] Sempra was also included in The Wall Street Journal's 250 Best-Managed Companies list [22] . The company has received numerous recognitions for leadership in diversity and inclusion, [23] including being named to Bloomberg's Gender Equality Index, [24] Forbes Best Employers for Diversity [25] and DiversityInc's #1 for Top Utilities, #4 for Top Regional Companies and #15 for Top Companies for Philanthropy [26] The company has also been named to a number of stock market indexes focused on sustainability, including the Dow Jones Sustainability Index North America. Its subsidiaries are routinely recognized for leadership in reliability, resilience, technology and innovation and corporate responsibility.
Southern Company is an American gas and electric utility holding company based in the Southern United States. It is headquartered in Atlanta, Georgia, with executive offices also located in Birmingham, Alabama. The company is the second largest utility company in the U.S. in terms of customer base, as of 2021. Through its subsidiaries it serves 9 million gas and electric utility customers in 6 states. Southern Company's regulated regional electric utilities serve a 120,000-square-mile (310,000 km2) territory with 27,000 miles (43,000 km) of distribution lines.
Enbridge Inc. is a Canadian multinational pipeline and energy company headquartered in Calgary, Alberta, Canada. Enbridge owns and operates pipelines throughout Canada and the United States, transporting crude oil, natural gas, and natural gas liquids, and also generates renewable energy. Enbridge's pipeline system is the longest in North America and the largest oil export pipeline network in the world. Its crude oil system consists of 28,661 kilometres of pipelines. Its 38,300 kilometre natural gas pipeline system connects multiple Canadian provinces, several US states, and the Gulf of Mexico. The company was formed by Imperial Oil in 1949 as the Interprovincial Pipe Line Company Limited to transport Alberta oil to refineries. Over time, it has grown through acquisition of other existing pipeline companies and the expansion of their projects.
The Southern California Gas Company is a utility company based in Los Angeles, California, and a subsidiary of Sempra. It is the primary provider of natural gas to Los Angeles and Southern California.
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Kinder Morgan, Inc. is one of the largest energy infrastructure companies in North America. The company specializes in owning and controlling oil and gas pipelines and terminals.
Energy Transfer LP is an American company engaged in the pipeline transportation, storage and terminalling for natural gas, crude oil, NGLs, refined products and liquid natural gas. It is organized under Delaware state laws and headquartered in Dallas, Texas. It was founded in 1996 by Ray Davis and Kelcy Warren, who remains Executive Chairman.
Berkshire Hathaway Energy is a holding company and subsidiary of Berkshire Hathaway, which owns 92% of the company. Berkshire has owned a controlling stake since 1999. The company also controls power distribution companies in the United Kingdom and Canada. The remaining 8% is owned by the family of Walter Scott Jr.
Southern Company Gas, formerly AGL Resources, is an American Fortune 500 energy services holding company headquartered in Atlanta, Georgia. The company's operations consist of natural gas distribution, wholesale services, retail operations, and midstream operations. Southern Company Gas is one of the largest natural gas distribution companies in the United States. The company serves approximately 4.5 million utility customers through its regulated distribution subsidiaries across four states. Southern Company Gas made the Fortune 500 list in 2015, Forbes 2000 in 2006, and is a member of the S&P 500 Index. In 2016, Southern Company acquired AGL Resources and renamed it Southern Company Gas.
FortisBC is a Canadian owned, British Columbia based regulated utility providing natural gas, and electricity. FortisBC has approximately 2,600 employees serving more than 1.2 million customers in 135 B.C. communities and 58 First Nations communities across 150 Traditional Territories.
GAIL (India) Limited is a central public sector undertaking. It has the following business segments: natural gas, liquified natural gas, liquid hydrocarbon, liquefied petroleum gas transmission, petrochemicals, city gas distribution, renewable energy including solar & wind, exploration and production, GAILTEL and electricity generation. GAIL was given the Maharatna status on the 1 February 2013 by the Indian Government, a status which 11 other Public Sector Undertakings (PSUs) have.
Dominion Energy, Inc., commonly referred to as Dominion, is an American energy company headquartered in Richmond, Virginia that supplies electricity in parts of Virginia, North Carolina, and South Carolina and supplies natural gas to parts of Utah, Idaho and Wyoming, West Virginia, Ohio, Pennsylvania, North Carolina, South Carolina, and Georgia. Dominion also has generation facilities in Indiana, Illinois, Connecticut, and Rhode Island.
Snam S.p.A. is an Italian energy infrastructure company.
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Oncor Electric Delivery Company is the largest transmission and distribution electric utility in the state of Texas and the 5th largest utility company in the US. Their service territory includes east, west, and north-central Texas, including Dallas, Fort Worth, Irving, Plano, Arlington, Beeville, Midland, Odessa, Killeen, Waco, Wichita Falls, Tyler, and other cities throughout Texas. In 2018, Sempra Energy acquired a majority stake in Oncor for US$9.45 billion.
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Jeffrey Walker Martin is the chairman and chief executive officer of Sempra, an energy infrastructure company based in San Diego, California. Sempra develops and owns energy transmission and distribution infrastructure with a focus on leading markets in North America, including California, Texas, Mexico and the liquefied natural gas export market. The company has over 20,000 employees and serves roughly 40 million consumers – serving more U.S. customers than any other U.S. utility holding company.