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Profits Rose Again in 2023
While many Southern Californians are struggling to pay their utility bills, Sempra Energy, the San Diego based parent company of San Diego Gas & Electric and SoCal Gas Company, pocketed more than $3 billion in profits in 2023, up almost 45% from 2022.
San Diego Gas and Electric alone earned a record $936 million, an eight-figure increase over 2022. Not to be outdone, SoCal Gas Company earned $812 million in 2023, a 35% increase over 2022, as customer gas bills skyrocketed.1
Sempra earned record profits on the backs of California residents!
- Sources: PitchBook, San Diego Business Journal, Fox 5 San Diego
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