1998–2018
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 San Diego Gas & Electric.[7]
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.[8]
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.[9] 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.[9]
In 2007, the company created the Sempra Energy Foundation (now known as Sempra Foundation) as a 501(c)(3) private foundation.[10] Since its inception, the foundation has invested over $50 million to help advance a better future for all. Sempra Foundation’s current priorities include climate action, economic prosperity, diversity and inclusion and disaster relief. Additionally, the organization encourages community engagement among the 20,000 employees who work for Sempra and its operating companies by matching certain employee contributions of time and money to eligible 501(c)(3) charitable organizations.
On March 8, 2018, regulators in Texas approved Sempra Energy's purchase of a majority stake in Oncor for $9.45 billion.[11]
2019–present
On January 16, 2019, Sempra Energy was added to the Dow Jones Utility Average, replacing Pacific Gas and Electric.[12]
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.[13] 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.[14]
In June 2021, Sempra Energy announced it was rebranding to Sempra.
