Sempra Energy provides earnings guidance for 2007-10

Media Contact:
Doug Kline

Financial Contact:
Dennis Arriola/Karen Sedgwick

Sempra Energy

Sempra Energy

(877) 866-2066

(877) 736-7727

www.sempra.com

investor@sempra.com

 

        SAN DIEGO, March 29, 2006 – Sempra Energy (NYSE: SRE) today updated its earnings outlook in advance of its financial analysts’ conference in San Diego.

        The company provided earnings-per-share guidance for 2007 of $3.50 to $3.70 and, for 2010, a target of $4.20 to $4.75.  Last month, Sempra Energy raised its 2006 earnings-per-share guidance to $3.40 to $3.60, excluding any gains from asset sales.  The company will discuss earnings ranges by business segment at the conference.

        During a live webcast at 11:30 a.m. EST today, Donald E. Felsinger, chairman and chief executive officer of Sempra Energy, will provide an update on Sempra Energy’s strategic plan at the company’s financial analysts’ conference.  Other senior Sempra Energy executives will address developments at the major business units. 

        At the conference, Sempra Energy officials also will detail the company’s capital-expenditure plan by business segment.  For 2006, the company plans capital expenditures of approximately $2.3 billion and, from 2007 through 2010, expects annual capital expenditures to average approximately $2 billion.

        Internet users may listen to the live webcast at www.sempra.com by clicking on the appropriate link.  Conference presentation slides will be posted on Sempra Energy’s Web site and a replay will be available on the site 24 hours after today’s conference.

        Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2005 revenues of $11.7 billion.  The Sempra Energy companies’ 14,000 employees serve more than 29 million consumers in the United States, Europe, Canada, Mexico, South America and Asia.

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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.  When the company uses words like “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “may,” “would,” “should” or similar expressions, or when the company discusses its strategy or plans, the company is making forward-looking statements.  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, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, the California State Legislature, the California Department of Water Resources, the Federal Energy Regulatory Commission and other regulatory bodies in the United States and other countries; capital markets conditions, inflation rates, interest rates and exchange rates; energy and trading markets, including the timing and extent of changes in commodity prices; the availability of 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 difficult to predict and many of which are beyond the control of the company.  These risks and uncertainties are further discussed in the company’s reports filed with the Securities and Exchange Commission that are available through the EDGAR system without charge at its Web site, www.sec.gov and on the company’s Web site, www.sempra.com.

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Sempra Energy