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Stock impact report

State regulators vote to keep utility profits high, angering customers across California [Los Angeles Times (CA)]

DBA Sempra (SRE) 
Last dba sempra earnings: 2/27 06:55 am Check Earnings Report
US:NYSE Investor Relations: sempra.com/investors
at Southern California Edison and the state's other big investor-owned utilities at a level that consumer groups say has long been inflated. The commission vote will slightly decrease the profit margins of Edison and three other big utilities beginning next year. Edison's rate will fall to 10.03% from 10.3%. Customers will see little impact in their bills from the decision. Because the utilities are continuing to spend more on wires and other infrastructure — capital costs that they earn profit on — that portion of customer bills is expected to continue to rise. The vote angered consumer groups who had detailed in filings and hearings at the commission how the utilities' return on equity — which sets the profit rate that the companies' shareholders receive — had long been too high. Among those testifying on behalf of consumers was Mark Ellis, the former chief economist for Sempra, the parent company of San Diego Gas & Electric and Southern California Gas. Ellis estimated that Show less Read more
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