With Highest Rates in the Country, SDG&E’s Parent Company Sempra Raked in $2.6 Billion Last Year; Critics React
On Friday, Feb. 25, SDG&E’s parent company, Sempra Energy, reported $2.6 billion in adjusted earnings for 2021.
It’s not a stretch to say that San Diegans – with the highest electrical rates in the country – have been generously helping the energy giant make its profits.
Sempra’s adjusted earnings of $2.6 billion for 2021 include income from all its companies. SDG&E’s earnings for 2021 were reported as $819 million.
The local CBS affiliate asked Alan Gin, a professor of economics at the University of San Diego, to take a look at Sempra’s recent earnings report. His response:
“Well, I think consumers are probably going to be unhappy because they’re paying these increased rates, the highest in the nation actually. And, yet, the company is taking that and then giving it out as dividends to their shareholders, and they’re also using it to repurchase stock, which is benefiting the shareholders as opposed to the customers.”

One of the reasons SDG&E says its bill are so high, is that the utility company had to take mitigation efforts to prevent their power system from igniting fires in San Diego’s back country.
With heartburn coming to San Diegans in every bill from SDG&E, and with the confirmation that for some reason San Diegans pay the highest electricity rates in the country, numerous questions have been raised about all of this. For instance.
The US
On initial perusal, our current SDG&E bill is a whopping 100% increase from our December bill! And we’re being told next month’s bill will be even higher.
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