(Sempra, 29.Jun.2023) — Sempra (NYSE: SRE) (BMV: SRE) begins its 25th year of business, marking a quarter century of continued performance and progress toward its mission to be North America’s premier energy infrastructure company.
“Over the past 25 years, we have been connecting people to safer, more reliable and cleaner energy sources, empowering communities and providing value to shareholders, while also driving growth in some of North America’s largest economic markets,” said Jeffrey W. Martin, chairman and chief executive officer of Sempra. “I am honored to celebrate this significant milestone in partnership with the thousands of talented employees across Sempra’s family of companies who share a common mission and commitment to a high-performance culture.”
To commemorate Sempra’s 25th anniversary, company leadership participated in the ringing of the New York Stock Exchange opening bell in New York this week, initiating company-wide celebrations from coast to coast.
Sempra was formed on 29 June 1998, from a merger between two century-old utilities: Pacific Enterprises and Enova Corporation, the parent companies of Southern California Gas Co. and San Diego Gas & Electric Co., respectively. Since then, Sempra has grown into one of the leading North American energy infrastructure companies with service to nearly 40 million consumers in California, Texas and Mexico. The company has developed a portfolio of businesses over the last two and a half decades comprised of top-tier utilities and long-term contracted energy infrastructure assets. Sempra’s disciplined capital allocation approach and sustained performance has delivered long-term value for its shareholders, resulting in a total shareholder return of roughly 1,200% from 1998 through 2022. During that same period, the company’s market capitalization increased 810% from $6bn in 1998 to nearly $50bn at the end of 2022.
Today, Sempra’s three growth platforms — Sempra California, Sempra Texas and Sempra Infrastructure — are building modern infrastructure to deliver electricity and cleaner fuels to some of North America’s leading economies and globally. Together, these growth platforms serve a common purpose of helping to meet the world’s expanding decarbonization and energy security goals. The company is currently executing a record $40bn capital plan for 2023-2027 to connect customers to cleaner energy, strengthen community resilience against extreme weather events and increase safety and reliability. The referenced capital plan only includes Sempra’s proportionate ownership share of capital expenditures. Across the Sempra family of companies, 20,000 employees are bound by a common set of values — do the right thing, champion people and shape the future — and a shared vision to deliver energy with purpose. These values underpin Sempra’s commitment to empowering communities and supporting social progress. Over the course of its 25-year history, Sempra’s family of companies and the Sempra Foundation have contributed more than $440mn to charitable causes and continue to find innovative ways to support the communities they serve.
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