San Diego Gas & Electric Posts 10% Gain in Earnings
San Diego Gas & Electric reported Monday that net income for the year ended Dec. 31 rose 10% to $202.7 million and that revenues rose 6% to $1.7 billion.
“Earnings were up because (state Public Utility Commission) disallowances were less in 1985 than 1984,” SDG&E; Chairman and Chief Executive Thomas Page said Monday. “The overall figures for 1985 show that the company has improved its financial health significantly.”
The utility reported that net income for the fourth quarter rose 20% to $59.1 million and that revenues rose 4% to $454.8 million.
In a news conference set for Thursday, Page plans to discuss the utility’s financial performance and SDG&E;’s holding company proposal that, although approved by utility shareholders, is still awaiting PUC approval.
Earnings reports by other San Diego County firms:
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