San Diego Gas & Electric: The San...

San Diego Gas & Electric: The San Diego-based utility said unaudited fourth-quarter net income was $51.8 million, up 16.3% from the $44.5-million profit reported for the same quarter the previous year. Revenue was $577.8 million, up 9.9% from revenues of $525.9 million for the fourth quarter of 1988. For fiscal 1989, the utility reported a profit of $175.9 million on revenue of $2.082 billion, compared with a profit of $177.6 million on revenue of $2.076 billion for fiscal 1988. SDG&E; attributed the decrease in 1989 earnings to the California Public Utilities Commission decision last February to disallow $25 million in costs related to the operation of the Southwest Powerlink.