SDG&E Customers Pay Highest Rates In U.S. As Investors Enjoy Record Profits

On Friday, Sempra Energy investors will receive the highest payout ever as the parent company of SDG&E enjoys record high profits.

Sempra Energy is the parent company of San Diego Gas & Electric (SDG&E), whose customers experienced a major spike in rates at the onset of 2022. SDG&E customers now pay the highest per-unit electric prices in the U.S.

SDG&E executives say that their rate increases are due to an unusual spike in the cost of natural gas and inflation, while consumer advocates say their rates and profit margins are too high.

SDG&E is the most profitable subsidiary of Sempra who also owns SoCalGas. In 2021 SDG&E's earnings were $819 million in 2021 and $824 million in 2020.

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