Sempra to Pay $410M Settlement - NBC 7 San Diego

Sempra to Pay $410M Settlement



    Sempra to Pay $410M Settlement
    AP/Thomas Kienzle
    The Gas Co., a unit of San Diego-based Sempra Energy, serves about 20.3 million customers in Southern California.

    Sempra Energy says it will pay $410 million to settle federal and state claims that it overcharged California on electricity contracts signed during the state's 2000-2001 energy crisis.

    The San Diego company announced Wednesday that's agreed in principal to a cash settlement to end a decade of legal battles but doesn't acknowledge any wrongdoing.

    Spokesman Doug Kline says state regulators approved the agreement last week.

    Sempra, which owns San Diego Gas & Electric Co. and the Southern California Gas Co., was among several energy companies sued for alleged wrongdoing during the crisis, when energy prices soared and the state suffered rolling blackouts.

    In 2006, Sempra agreed to pay $377 million to settle claims that it manipulated natural gas supplies during the crisis to drive up prices.