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SEMPRA ENERGY 8-K 7/31/09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report
(Date of earliest event reported):	July 31, 2009

SEMPRA ENERGY

(Exact name of registrant as specified in its charter)


CALIFORNIA	1-14201	33-0732627
(State of incorporation or organization)	(Commission File Number)	(IRS Employer Identification No.)


101 ASH STREET, SAN DIEGO, CALIFORNIA		92101
(Address of principal executive offices)		(Zip Code)


Registrant's telephone number, including area code	(619) 696-2034

(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

The information furnished in this Item 2.02 and in Exhibits 99.1 and 99.2 shall not be deemed to be "filed" for purposes of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing of Sempra Energy, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

On July 31, 2009, Sempra Energy issued a press release announcing consolidated earnings of $198 million, or $0.80 per diluted share of common stock, for the second quarter of 2009. The press release has been posted on Sempra Energy's website (www.sempra.com) and a copy is attached as Exhibit 99.1.

Concurrently with the website posting of such press release and as noted therein, Sempra Energy also posted its Statement of Operations Data by Business Unit for the three months and six months ended June 30, 2009 and 2008. A copy of such information is attached as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

Exhibits

99.1

July 31, 2009 Sempra Energy News Release (including tables)

99.2

Sempra Energy's Statement of Operations Data by Business Unit for three months and six months ended June 30, 2009 and 2008.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SEMPRA ENERGY
(Registrant)


Date: July 31, 2009	By: /s/ Joseph A. Householder
	Joseph A. Householder Senior Vice President, Controller and Chief Accounting Officer

Sempra Energy Exhibit 99.1

NEWS RELEASE

Media Contact:

Doug Kline

Sempra Energy

(877) 866-2066

www.sempra.com

Financial Contact:

Glen Donovan

Sempra Energy

(877) 736-7727

investor@sempra.com

SEMPRA ENERGY REPORTS

SECOND-QUARTER 2009 RESULTS,

REAFFIRMS 2009 EARNINGS-PER-SHARE

GUIDANCE OF $4.35 TO $4.60

Improved Performance Expected to Offset One-time Write-off

SAN DIEGO, July 31, 2009 – Sempra Energy (NYSE: SRE) today reported second-quarter 2009 earnings of $198 million, or $0.80 per diluted share, compared with second-quarter 2008 earnings of $244 million, or $0.98 per diluted share.

Second-quarter 2009 results included an asset write-off of $64 million, or $0.26 per diluted share, at Sempra Pipelines & Storage. The potential for the write-off was previously disclosed.

Earnings for the first six months of 2009 were $514 million, or $2.09 per diluted share, up from $486 million, or $1.90 per diluted share.

Sempra Energy today reaffirmed its previously announced 2009 earnings-per-share guidance range of $4.35 to $4.60.

“We are pleased that our performance through the first half of the year has been strong enough that we are able to reaffirm our 2009 earnings guidance, in spite of the asset write-off in the second quarter,” said Donald E. Felsinger, chairman and chief executive officer of Sempra Energy. “We also continue to make progress in growing our natural gas infrastructure businesses. We reached two major operational milestones recently with the start-up of our second liquefied natural gas terminal and the eastern leg of the Rockies Express Pipeline.”

SUBSIDIARY OPERATING RESULTS

San Diego Gas & Electric

In the second quarter 2009, earnings for San Diego Gas & Electric (SDG&E) rose to $70 million from $61 million in last year’s second quarter, due primarily to higher operating margins.

For the first six months of 2009, SDG&E generated earnings of $169 million, up from $135 million during the same period last year.

Southern California Gas Co.

Southern California Gas Co. (SoCalGas) had second-quarter earnings of $65 million in 2009, up from $56 million in 2008, due primarily to higher operating margins.

SoCalGas’ earnings in the first half of the year increased to $124 million in 2009 from $113 million last year.

RBS Sempra Commodities

Earnings for Sempra Energy’s commodity operations were $85 million in the second quarter 2009, compared with $130 million in last year’s second quarter. Second-quarter 2008 results included a $67 million gain on the transaction with The Royal Bank of Scotland forming the RBS Sempra Commodities joint venture, offset by $30 million of expenses related to litigation and taxes.

For the first six months of 2009, earnings from Sempra Energy’s commodity operations increased to $199 million from $189 million in the first six months of 2008. First-quarter 2008 results represented 100 percent of the earnings of Sempra Energy’s commodity operations prior to the formation of the joint venture in April 2008.

Sempra Generation

Sempra Generation’s earnings increased to $33 million in the second quarter 2009 from $23 million in the same quarter a year ago. In last year’s second quarter, Sempra Generation recorded mark-to-market losses on forward contracts.

Sempra Generation’s earnings in the first half of 2009 were $76 million, compared with $68 million in the first half of 2008.

Earlier this week, Sempra Generation announced that Pacific Gas and Electric (PG&E) has entered into a 20-year sales agreement for 48 megawatts (MW) of solar power from a new plant under development in Boulder City, Nev., called Copper Mountain Solar. The Copper Mountain Solar facility will be built on land adjacent to the 10-MW El Dorado Solar plant. Construction on the 48-MW Copper Mountain project is slated to begin later this year and be completed in 2011. Last year, PG&E also contracted with Sempra Generation for the output of El Dorado Solar.

Sempra Pipelines & Storage

In the second quarter 2009, Sempra Pipelines & Storage had a net loss of $27 million, compared with earnings of $24 million in last year’s second quarter. During the most recent quarter, Sempra Pipelines & Storage recorded a charge of $64 million for the write-off of certain assets at Liberty Gas Storage, principally the salt-caverns and associated facilities near Sulphur, La. Remedial efforts have been unsuccessful in making this facility operational. The charge in the quarter was partially offset by higher earnings from LNG-related pipeline operations.

For the first six months of 2009, Sempra Pipelines & Storage had $10 million in earnings, compared with $50 million in earnings in the first half of 2008.

Last month, Sempra Pipelines & Storage and its project partners initiated service on the eastern portion of the Rockies Express pipeline, which stretches from Missouri to Ohio. The last leg of the 1,679-mile pipeline is expected to be completed in November. When complete, total capacity on the pipeline will be approximately 1.8 billion cubic feet per day, virtually all of which has been contracted under long-term firm commitments from creditworthy shippers.

Sempra LNG

Sempra LNG recorded a net loss of $12 million in the second quarter 2009, compared with a net loss of $28 million in the prior-year’s second quarter. The improved results were due primarily to lower mark-to-market losses on a natural gas marketing agreement with RBS Sempra Commodities and lower income-tax expense related to Mexican currency and inflation adjustments.

In the first half of 2009, Sempra LNG recorded a net loss of $19 million, compared with a net loss of $37 million in the first half of 2008.

Yesterday, Cameron LNG, Sempra LNG’s Louisiana terminal, began commercial operations after successfully receiving its first two cargoes of liquefied natural gas (LNG). In June, Sempra LNG announced an agreement with an affiliate of RasGas Company Limited to have Cameron LNG serve as a potential U.S. Gulf Coast receipt point for LNG cargoes, beginning next month. Cargoes could be delivered to Cameron LNG through December 2010. The agreement allows RasGas to deliver up to 50 cargoes with each cargo containing up to 4.8 billion cubic feet of natural gas.

INTERNET BROADCAST

Sempra Energy will broadcast a live discussion of its earnings results over the Internet today at 1 p.m. EDT with senior management of the company. Access is available by logging onto the Web site at www.sempra.com. For those unable to log onto the live webcast, the teleconference will be available on replay a few hours after its conclusion by dialing (888) 203-1112 and entering passcode 2144396.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2008 revenues of nearly $11 billion. The Sempra Energy companies’ 13,600 employees serve about 29 million consumers worldwide.

Complete financial tables, including earnings information by business unit, are available on Sempra Energy’s Web site at http://www.sempra.com/downloads/2Q2009.pdf.

This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “may,” “would,” ”could,” “should,” or similar expressions, or discussions of strategies, plans or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, nationa l and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, California Department of Water Resources, Federal Energy Regulatory Commission, Federal Reserve Board, and other regulatory and governmental bodies in the United States, the United Kingdom and other countries; capital market conditions and inflation, interest and exchange rates; energy and trading markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are diffi cult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system without charge at the SEC’s Web site, www.sec.gov and on the company’s Web site, at www.sempra.com.

Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and Sempra Commodities are not the same companies as the utility, San Diego Gas & Electric (SDG&E) or Southern California Gas Company (SoCalGas), and Sempra Pipelines & Storage, Sempra Generation, Sempra LNG and Sempra Commodities are not regulated by the California Public Utilities Commission.

###


SEMPRA ENERGY
Table A


*CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS*

		Three months ended June 30,		Six months ended June 30,
(Dollars in millions, except per share amounts)		2009	2008*	2009	2008*
	(unaudited)
REVENUES
Sempra Utilities		$ 1,316	$ 1,887	$ 2,958	$ 4,177
Sempra Global and parent		373	616	839	1,596
Total revenues		1,689	2,503	3,797	5,773

EXPENSES AND OTHER INCOME
Sempra Utilities:
Cost of natural gas		(249)	(784)	(789)	(2,019)
Cost of electric fuel and purchased power		(129)	(220)	(300)	(383)
Sempra Global and parent:
Cost of natural gas, electric fuel and purchased power		(187)	(513)	(455)	(922)
Other cost of sales		(16)	(17)	(33)	(153)
Operation and maintenance		(589)	(549)	(1,105)	(1,252)
Depreciation and amortization		(189)	(171)	(372)	(346)
Franchise fees and other taxes		(69)	(71)	(151)	(154)
Gains on sale of assets		3	109	3	114
Write-off of long-lived assets		(132)	-	(132)	-
Equity earnings:
RBS Sempra Commodities LLP		126	146	279	146
Other		2	9	9	15
Other income, net		70	32	73	51
Interest income		5	10	11	24
Interest expense		(79)	(38)	(161)	(98)
Income before income taxes and equity earnings of certain unconsolidated subsidiaries		256	446	674	796
Income tax expense		(90)	(202)	(199)	(329)
Equity earnings, net of income tax		23	18	39	39
Net income		189	262	514	506
(Earnings) losses attributable to noncontrolling interests		12	(15)	5	(15)
Preferred dividends of subsidiaries		(3)	(3)	(5)	(5)
Earnings		$ 198	$ 244	$ 514	$ 486

Basic earnings per common share		$ 0.82	$ 0.99	$ 2.12	$ 1.93
Weighted-average number of shares outstanding, basic (thousands)		242,718	245,576	242,245	252,100

Diluted earnings per common share		$ 0.80	$ 0.98	$ 2.09	$ 1.90
Weighted-average number of shares outstanding, diluted (thousands)		247,090	249,677	246,039	256,169
Dividends declared per share of common stock		$ 0.39	$ 0.35	$ 0.78	$ 0.67

* As adjusted for the retrospective adoption of SFAS 160 (ASC 810).


SEMPRA ENERGY
Table B

*CONSOLIDATED BALANCE SHEETS*

			June 30,	December 31,
(Dollars in millions)			2009	2008*
			(unaudited)
Assets
Current assets:
	Cash and cash equivalents		$ 818	$ 331
	Short-term investments		-	176
	Restricted cash		27	27
	Accounts receivable, net		715	981
	Due from unconsolidated affiliates		21	4
	Income taxes receivable		114	195
	Deferred income taxes		96	31
	Inventories		169	320
	Regulatory assets		88	121
	Fixed-price contracts and other derivatives		100	160
	Insurance receivable related to wildfire litigation		940	-
	Other		236	130
		Total current assets	3,324	2,476

Investments and other assets:
	Regulatory assets arising from fixed-price contracts and other derivatives		252	264
	Regulatory assets arising from pension and other postretirement benefit obligations		1,212	1,188
	Other regulatory assets		558	534
	Nuclear decommissioning trusts		580	577
	Investment in RBS Sempra Commodities LLP		2,019	2,082
	Other investments		1,470	1,166
	Goodwill and other intangible assets		529	539
	Sundry		565	709
		Total investments and other assets	7,185	7,059
Property, plant and equipment, net			17,413	16,865
Total assets			$ 27,922	$ 26,400

Liabilities and Equity
Current liabilities:
	Short-term debt		$ 291	$ 503
	Accounts payable		616	856
	Due to unconsolidated affiliates		31	38
	Dividends and interest payable		183	156
	Accrued compensation and benefits		186	280
	Regulatory balancing accounts, net		602	335
	Current portion of long-term debt		624	410
	Fixed-price contracts and other derivatives		115	180
	Customer deposits		149	170
	Reserve for wildfire litigation		940	-
	Other		616	684
		Total current liabilities	4,353	3,612
Long-term debt			6,723	6,544

Deferred credits and other liabilities:
	Due to unconsolidated affiliate		102	102
	Customer advances for construction		154	155
	Pension and other postretirement benefit obligations, net of plan assets		1,512	1,487
	Deferred income taxes		1,152	946
	Deferred investment tax credits		54	57
	Regulatory liabilities arising from removal obligations		2,453	2,430
	Asset retirement obligations		1,210	1,159
	Other regulatory liabilities		209	219
	Fixed-price contracts and other derivatives		347	392
	Deferred credits and other		842	909
		Total deferred credits and other liabilities	8,035	7,856
Preferred stock of subsidiary			79	79
Total Sempra Energy shareholders' equity			8,477	7,969
Preferred stock of subsidiaries			100	100
Other noncontrolling interests			155	240
		Total equity	8,732	8,309
Total liabilities and equity			$ 27,922	$ 26,400

* As adjusted for the retrospective adoption of SFAS 160 (ASC 810).


SEMPRA ENERGY
Table C

*CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS*
		Six months ended
		June 30,
(Dollars in millions)		2009	2008*
		(unaudited)
Cash Flows from Operating Activities:
Net income		$ 514	$ 506
Adjustments to reconcile net income to net cash provided by operating activities:
	Depreciation and amortization	372	346
	Deferred income taxes and investment tax credits	90	51
	Equity earnings	(327)	(200)
	Gains on sale of assets	(3)	(114)
	Write-off of long-lived assets	132	-
	Fixed-price contacts and other derivatives	(38)	47
	Other	51	40
Net changes in other working capital components		364	226
Distributions from RBS Sempra Commodities LLP		375	-
Changes in other assets		21	(10)
Changes in other liabilities		(26)	(27)
	Net cash provided by operating activities	1,525	865

Cash Flows from Investing Activities:
Expenditures for property, plant and equipment		(938)	(1,114)
Proceeds from sale of assets, net of cash sold		179	2,071
Expenditures for investments		(217)	(2,180)
Distributions from investments		9	16
Purchases of nuclear decommissioning and other trust assets		(99)	(173)
Proceeds from sales by nuclear decommissioning and other trusts		93	177
Decrease in notes receivable from unconsolidated affiliate		-	60
Other		(14)	(15)
	Net cash used in investing activities	(987)	(1,158)

Cash Flows from Financing Activities:
Common dividends paid		(170)	(166)
Preferred dividends paid by subsidiaries		(5)	(5)
Issuances of common stock		28	11
Repurchases of common stock		-	(1,002)
(Decrease) increase in short-term debt, net		(612)	496
Issuances of long-term debt		1,108	593
Payments on long-term debt		(311)	(73)
Purchase of noncontrolling interest		(94)	-
Other		5	1
	Net cash used in financing activities	(51)	(145)

Increase (decrease) in cash and cash equivalents		487	(438)
Cash and cash equivalents, January 1		331	668
Cash and cash equivalents, June 30		$ 818	$ 230

* As adjusted for the retrospective adoption of SFAS 160 (ASC 810).


SEMPRA ENERGY
Table D


*BUSINESS UNIT EARNINGS AND CAPITAL EXPENDITURES & INVESTMENTS (Unaudited)*


		Three months ended				Six months ended
		June 30,				June 30,
(Dollars in millions)		2009		2008		2009		2008

Earnings (Losses)
San Diego Gas & Electric		$ 70		$ 61		$ 169		$ 135
Southern California Gas		65		56		124		113
Sempra Commodities⁽¹⁾		85		130		199		189
Sempra Generation		33		23		76		68
Sempra Pipelines & Storage		(27)		24		10		50
Sempra LNG		(12)		(28)		(19)		(37)
Parent & Other		(16)		(22)		(45)		(32)
Earnings		$ 198		$ 244		$ 514		$ 486

⁽¹⁾	Results for 2009 and the second quarter of 2008 include the company's portion of RBS Sempra Commodities' joint venture earnings and interest, income taxes, cost allocations and other items associated with the joint venture. Results for the first quarter of 2008 include 100% of the commodities-marketing businesses. Both 2009 and 2008 include the results of Sempra Rockies Marketing.


		Three months ended				Six months ended
		June 30,				June 30,
(Dollars in millions)		2009		2008		2009		2008
Capital Expenditures and Investments⁽¹⁾
	San Diego Gas & Electric	$ 366	⁽²⁾	$ 194		$ 595	⁽²⁾	$ 665	⁽²⁾
	Southern California Gas	115		126		227		242
	Sempra Commodities	-		-		-		37
	Sempra Generation	10		2		13		13
	Sempra Pipelines & Storage	227		93		328		302
	Sempra LNG	71		152		142		249
	Parent & Other	1		79	⁽²⁾	2		261	⁽²⁾
	Eliminations⁽²⁾	(152)		(75)		(152)		(75)
	Consolidated Capital Expenditures and Investments	$ 638		$ 571		$ 1,155		$ 1,694

⁽¹⁾	Investments do not include the $1.6 billion contribution to RBS Sempra Commodities in the second quarter of 2008.

⁽²⁾	During the six months ended June 30, 2008, SDG&E and Parent & Other purchased $236 and $177, respectively, of SDG&E's industrial development bonds. As their cash flow needs changed, Parent & Other sold $152 of the bonds to SDG&E in the second quarter of 2009, and SDG&E sold $75 of the bonds to Parent & Other in the six-month period of 2008.



SEMPRA ENERGY
Table E


*OTHER OPERATING STATISTICS (Unaudited)*



		Three months ended			Six months ended
		June 30,			June 30,
*SEMPRA UTILITIES*		2009	2008		2009	2008

Revenues (Dollars in millions)
	SDG&E (excludes intercompany sales)	$ 629	$ 752		$ 1,359	$ 1,494
	SoCalGas (excludes intercompany sales)	$ 687	$ 1,135		$ 1,599	$ 2,683

Gas Sales (Bcf)		80	81		211	225
Transportation and Exchange (Bcf)		123	136		251	274
Total Deliveries (Bcf)		203	217		462	499

Total Gas Customers (Thousands)					6,590	6,553

Electric Sales (Millions of kWhs)		3,968	4,021		8,132	8,296
Direct Access (Millions of kWhs)		750	750		1,490	1,515
Total Deliveries (Millions of kWhs)		4,718	4,771		9,622	9,811

Total Electric Customers (Thousands)					1,375	1,367


*SEMPRA GENERATION*
Power Sold (Millions of kWhs)		5,482	5,506		11,209	11,118


*SEMPRA PIPELINES & STORAGE*
(Represents 100% of the distribution operations of these subsidiaries, although subsidiaries in Argentina, Chile and Peru are not 100% owned by Sempra Energy. These subsidiaries are not consolidated within Sempra Energy and the related investments are accounted for under the equity method).
Natural Gas Sales (Bcf)
	Argentina	83	81		148	152
	Mexico	4	5		9	10
	Mobile Gas	7	-	*	16	-	*
Natural Gas Customers (Thousands)
	Argentina				1,693	1,637
	Mexico				93	95
	Mobile Gas				94	-	*
Electric Sales (Millions of kWhs)
	Peru	1,380	1,354		2,773	2,716
	Chile	593	568		1,270	1,232
Electric Customers (Thousands)
	Peru				851	822
	Chile				569	557

* Mobile Gas was acquired in October 2008.


SEMPRA ENERGY
Table E (Continued)

*SEMPRA COMMODITIES*
The following information for the Sempra Commodities segment includes information related to RBS Sempra Commodities LLP. RBS Sempra Commodities LLP acquired the commodity-marketing businesses of Sempra Energy on April 1, 2008. For the three and six months ended June 30, 2009, the Sempra Commodities segment is composed primarily of the company's equity interest in RBS Sempra Commodities LLP, but also includes the results of Sempra Rockies Marketing. The margin and financial data below represent the total results of RBS Sempra Commodities LLP as calculated under International Financial Reporting Standards (IFRS).

*RBS Sempra Commodities LLP*

*Operating Statistics*
(in millions of US dollars)
		Three		Three		Six
		months ended		months ended		months ended
RBS Sempra Commodities LLP - Joint Venture level margin*		June 30, 2009		June 30, 2008		June 30, 2009

Geographical:
	North America	$ 220		$ 522		$ 472
	Europe/Asia	103		124		205
	Total	$ 323		$ 646		$ 677

Product Line:
	Oil - Crude & Products	$ 70		$ 92		$ 193
	Power	94		174		187
	Natural Gas	67		306		145
	Metals	81		42		135
	Other	11		32		17
	Total	$ 323		$ 646		$ 677

*Financial Information*
(in millions of US dollars)

RBS Sempra Commodities LLP		Three months ended June 30, 2009		Three months ended June 30, 2008		Six months ended June 30, 2009
		Joint Venture	Sempra	Joint Venture	Sempra	Joint Venture	Sempra
		Total	Share**	Total	Share**	Total	Share**
	Fee income and trading revenue, net of selling costs	$ 323		$ 646		$ 677
	Operating and other expenses	(181)		(312)		(381)
	Joint Venture distributable income	$ 142		$ 334		$ 296


	Preferred return on capital	$ 84	$ 60	$ 148	$ 60	$ 161	$ 119
	1st allocation - 70% Sempra / 30% RBS***	58	42	125	87	135	97
	2nd allocation - 30% Sempra / 70% RBS	-	-	61	18	-	-
	Distributable income	$ 142	$ 102	$ 334	$ 165	$ 296	$ 216

*Sempra Commodities Earnings*
			Three		Three		Six
			months ended		months ended		months ended
(in millions of US dollars)			June 30, 2009		June 30, 2008		June 30, 2009
	Sempra share of distributable income - IFRS basis		$ 102		$ 165		$ 216
	U.S. GAAP conversion impact		24		(19)		63
	Sempra equity earnings before income taxes - U.S. GAAP basis		126		146		279
	Income tax expense		(39)		(53)		(76)
	Sempra equity earnings from RBS Sempra Commodities LLP		87		93		203
	Other segment activity after-tax, including after-tax gain in 2008		(2)		37		(4)
	Sempra Commodities earnings		$ 85		$ 130		$ 199

*	Margin consists of operating revenues less cost of sales (primarily transportation and storage costs) reduced by certain transaction-related execution costs (primarily brokerage and other fees) and net interest income/expense.

**	After a 15% preferred return to Sempra and then a 15% return to RBS, Sempra receives 70% of the next $500 million and 30% of any remaining income on an annual basis.

***	Includes certain transition costs specifically allocated to Sempra and RBS.

Sempra Energy Exhibit 99.2


SEMPRA ENERGY
Table F (Unaudited)

*Statement of Operations Data by Business Unit*

Three Months Ended June 30, 2009

(Dollars in millions)	SDG&E	SoCalGas	Commodities	Generation	Pipelines & Storage		LNG	Consolidating Adjustments, Parent & Other	Total

Revenues	$ 631	$ 694	$ 13	$ 245	$ 98		$ 25	$ (17)	$ 1,689

Cost of Sales and Other Expenses	(438)	(503)	(14)	(157)	(209)	⁽¹⁾	(39)	(11)	(1,371)

Depreciation & Amortization	(81)	(75)	-	(15)	(9)		(7)	(2)	(189)

Gains on Sale of Assets	1	-	-	-	-		-	2	3

Equity Earnings (Losses) Recorded Before Income Tax	-	-	126	(6)	11		-	(3)	128

Other Income, Net	27	4	-	1	1		1	36	70

Income (Loss) Before Interest & Tax ⁽²⁾	140	120	125	68	(108)		(20)	5	330

Net Interest Expense ⁽³⁾	(22)	(18)	(3)	(1)	(3)		(2)	(28)	(77)

Income Tax (Expense) Benefit	(28)	(37)	(37)	(34)	29		10	7	(90)

Equity Earnings Recorded Net of Income Tax	-	-	-	-	23		-	-	23

(Earnings) Losses Attributable to Noncontrolling Interests	(20)	-	-	-	32		-	-	12

Earnings (Losses)	$ 70	$ 65	$ 85	$ 33	$ (27)		$ (12)	$ (16)	$ 198

Three Months Ended June 30, 2008

(Dollars in millions)	SDG&E	SoCalGas	Commodities	Generation	Pipelines & Storage		LNG	Consolidating Adjustments, Parent & Other	Total

Revenues	$ 754	$ 1,143	$ 16	$ 482	$ 118		$ 5	$ (15)	$ 2,503

Cost of Sales and Other Expenses	(564)	(971)	(43)	(423)	(114)		(32)	(7)	(2,154)

Depreciation & Amortization	(78)	(71)	-	(14)	(3)		(2)	(3)	(171)

Gain on Sale of Assets	-	-	109	-	-		-	-	109

Equity Earnings (Losses) Recorded Before Income Tax	-	-	146	-	12		-	(3)	155

Other Income, Net	20	2	-	1	3		-	6	32

Income (Loss) Before Interest & Tax ⁽²⁾	132	103	228	46	16		(29)	(22)	474

Net Interest (Expense) Income ⁽³⁾	(21)	(11)	(4)	(2)	1		(1)	7	(31)

Income Tax (Expense) Benefit	(35)	(36)	(94)	(21)	(11)		2	(7)	(202)

Equity Earnings Recorded Net of Income Tax	-	-	-	-	18		-	-	18

Earnings Attributable to Noncontrolling Interests	(15)	-	-	-	-		-	-	(15)

Earnings (Losses)	$ 61	$ 56	$ 130	$ 23	$ 24		$ (28)	$ (22)	$ 244

⁽¹⁾ Includes $132 million write-off of long-lived assets.

⁽²⁾ Management believes "Income (Loss) before Interest & Tax" is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations.

⁽³⁾Net Interest (Expense) Income includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries.


SEMPRA ENERGY
Table F (Unaudited)

*Statement of Operations Data by Business Unit*

Six Months Ended June 30, 2009

(Dollars in millions)	SDG&E	SoCalGas	Commodities	Generation	Pipelines & Storage		LNG	Consolidating Adjustments, Parent & Other	Total

Revenues	$ 1,363	$ 1,614	$ 26	$ 542	$ 230		$ 57	$ (35)	$ 3,797

Cost of Sales and Other Expenses	(918)	(1,241)	(26)	(384)	(304)	⁽¹⁾	(82)	(10)	(2,965)

Depreciation & Amortization	(158)	(147)	-	(29)	(19)		(13)	(6)	(372)

Gains on Sale of Assets	1	-	-	-	-		-	2	3

Equity Earnings (Losses) Recorded Before Income Tax	-	-	279	(6)	21		-	(6)	288

Other Income, Net	44	5	-	1	-		1	22	73

Income (Loss) Before Interest & Tax ⁽²⁾	332	231	279	124	(72)		(37)	(33)	824

Net Interest Expense ⁽³⁾	(48)	(34)	(6)	(2)	(6)		(4)	(55)	(155)

Income Tax (Expense) Benefit	(88)	(73)	(74)	(46)	17		22	43	(199)

Equity Earnings Recorded Net of Income Tax	-	-	-	-	39		-	-	39

(Earnings) Losses Attributable to Noncontrolling Interests	(27)	-	-	-	32		-	-	5

Earnings (Losses)	$ 169	$ 124	$ 199	$ 76	$ 10		$ (19)	$ (45)	$ 514

Six Months Ended June 30, 2008

(Dollars in millions)	SDG&E	SoCalGas	Commodities	Generation	Pipelines & Storage		LNG	Consolidating Adjustments, Parent & Other	Total

Revenues	$ 1,500	$ 2,699	$ 473	$ 928	$ 211		$ (5)	$ (33)	$ 5,773

Cost of Sales and Other Expenses	(1,107)	(2,346)	(395)	(782)	(202)		(44)	(7)	(4,883)

Depreciation & Amortization	(155)	(142)	(6)	(28)	(5)		(2)	(8)	(346)

Gains on Sale of Assets	3	-	110	2	-		-	(1)	114

Equity Earnings (Losses) Recorded Before Income Tax	-	-	146	2	20		-	(7)	161

Other Income, Net	23	2	-	2	3		15	6	51

Income (Loss) Before Interest & Tax ⁽²⁾	264	213	328	124	27		(36)	(50)	870

Net Interest (Expense) Income ⁽³⁾	(47)	(24)	(9)	(4)	2		(2)	5	(79)

Income Tax (Expense) Benefit	(67)	(76)	(133)	(52)	(15)		1	13	(329)

Equity Earnings Recorded Net of Income Tax	-	-	3	-	36		-	-	39

Earnings Attributable to Noncontrolling Interests	(15)	-	-	-	-		-	-	(15)

Earnings (Losses)	$ 135	$ 113	$ 189	$ 68	$ 50		$ (37)	$ (32)	$ 486

⁽¹⁾ Includes $132 million write-off of long-lived assets.

⁽²⁾ Management believes "Income (Loss) before Interest & Tax" is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income tax, neither of which is directly relevant to the efficiency of those operations.

⁽³⁾Net Interest (Expense) Income includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries.