Sempra Energy provides earnings guidance for 2008, 2011 at financial analysts’ conference

Media Contact:
Doug Kline

Financial Contact:
Glen Donovan

Sempra Energy

Sempra Energy

(877) 866-2066

(877) 736-7727


        SAN DIEGO, March 29, 2007 – Sempra Energy (NYSE:  SRE) updated its earnings outlook in advance of its financial analysts’ conference today in San Diego.

        The company provided earnings-per-share guidance for 2008 of $3.85 to $4.05 and, for 2011, a target of $4.85 to $5.15.  Last month, Sempra Energy raised its 2007 earnings-per-share guidance to $3.75 to $3.95. 

        During a live webcast at 11:30 a.m. EDT today, Donald E. Felsinger, chairman and chief executive officer of Sempra Energy, and other key executives will provide an update on Sempra Energy’s growth strategy.  At the conference, Sempra Energy officials also will detail the company’s capital-expenditure plan and earnings guidance by business segment.  For 2007, the company projects capital expenditures of approximately $2.1 billion and, from 2008 through 2011, expects annual capital expenditures to average approximately $2.2 billion.

        Internet users may listen to the live webcast at by clicking on the appropriate link.  Conference presentation slides and a company video will be posted on the Investor Relations section of the company’s Web site.  A replay of the conference will be available on the site 24 hours after the presentations.

        Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2006 revenues of nearly $12 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.


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 environmental and regulatory bodies in the United States and other countries; capital market 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 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 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, and on the company’s Web site,