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): January 24, 2001.
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SAN DIEGO GAS & ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
California 1-3779 95-1184800
(State of incorporation (Commission (I.R.S. Employer
or organization) File Number) Identification No.
8326 Century Park Court, San Diego, California 92123
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 619-696-2000
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(Former name or former address, if changed since last report.)
Item 5. Other Events
San Diego Gas & Electric Company (SDG&E), a subsidiary of Sempra
Energy, has applied to the California Public Utilities Commission (CPUC) for
authority to implement an electric rate surcharge which would increase the rates
it may charge its electric customers. The surcharge is intended to manage
SDG&E's undercollections of the costs of purchasing electricity for customers
(resulting from a legislatively imposed temporary rate ceiling) and provide for
the amortization of the undercollected costs in customer rates.
The full text of SDG&E's application to the CPUC is attached to this
report as Exhibit 99.1.
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This report and the exhibit to the report contains statements that are
not historical fact and constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements
regarding SDG&E's ability to finance undercollected costs on reasonable terms,
retain its financial strength and avoid the financial distress that has affected
other California investor-owned utilities, estimates of future accumulated
undercollected costs, and its plans to obtain future financing. The words
"estimates," "believes," "expects," "anticipates," "plans," "intends," "may" and
"should" or similar expressions, or discussions of strategy or plans are
intended to identify 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 CPUC, the California legislature and the Federal Energy
Regulatory Commission; the financial condition of other investor-owned
utilities; capital market conditions, inflation rates and interest rates; energy
markets, including the timing and extent of changes in commodity prices; weather
conditions; business, regulatory and legal decisions; the pace of deregulation
of retail natural gas and electricity delivery; the timing and success of
business development efforts; and other uncertainties, all of which are
difficult to predict and many of which are beyond the control of the company.
Readers are cautioned not to rely unduly on any forward-looking statements and
are urged to review and consider carefully the risks, uncertainties and other
factors which affect the company's business described in this report and other
reports filed by the company from time to time with the Securities and Exchange
Commission.
Item 7. Financial Statements And Exhibits.
(c) Exhibits
99.1 The full text of SDG&E's application to the CPUC
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: January 24, 2001 By: /s/ D.L. Reed
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D.L. Reed
President