Sempra Energy has reached a $377 million settlement to resolve allegations the company schemed to limit supplies and drive up prices during an energy crisis five years ago. The company admitted no wrongdoing in the settlement, which came in the midst of a San Diego jury trial that threatened to bankrupt the company with potential damages as high as $23 billion. The proposed settlement must still get judicial and municipal approval.
January 06, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A $377 million settlement with Sempra Energy to resolve allegations the company schemed to limit supplies and drive up prices during an energy crisis five years ago will net savings for California and Nevada ratepayers, officials said.
The San Diego-based company announced the settlement Wednesday. It admits no wrongdoing in the deal.
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