8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934

Date of Report
(Date of earliest event reported):	August 3, 2006 - ----------------------

SAN DIEGO GAS & ELECTRIC COMPANY
- ---------------------------------------------------------------------
(Exact name of registrant as specified in its charter)

CALIFORNIA - --------------------------------	1-3779 - --------------------------------	95-1184800 - --------------------------------
(State of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.

8330 CENTURY PARK COURT, SAN DIEGO, CA - ------------------------------------------------------------------	92123 - ----------------------
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code (619) 696-2000
- -------------------

---------------------------------------------------------------------
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

FORM 8-K

Item 2.02 Results of Operations and Financial Condition

The information furnished in this Item 2.02 and in Exhibits 99.1 and 99.2 shall not be deemed to be "filed" for purposes of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing of San Diego Gas & Electric Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

On August 3, 2006, Sempra Energy, of which San Diego Gas & Electric Company is a consolidated subsidiary, issued a press release announcing consolidated net income of $373 million, or $1.43 per diluted share of common stock, for the second quarter of 2006. The press release has been posted on Sempra Energy's website (www.sempra.com) and a copy is attached as Exhibit 99.1.

Concurrently with the website posting of such press release and as noted therein, Sempra Energy also posted its Income Statement Data by Business Unit for the three months and six months ended June 30, 2006 and 2005. A copy of such information is attached as Exhibit 99.2

The Sempra Energy financial information contained in the press release includes, on a consolidated basis, information regarding San Diego Gas & Electric Company's results of operations and financial condition.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

99.1 August 3, 2006 Sempra Energy News Release (including tables)

99.2 Sempra Energy's Income Statement Data by Business Unit for the three months and six months ended June 30, 2006 and 2005.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SAN DIEGO GAS & ELECTRIC COMPANY
(Registrant)

Date: August 3, 2006	By: /s/ S.D. Davis - -----------------------------------------
	S.D. Davis Sr. Vice President-External Relations and Chief Financial Officer

EX-99

Exhibit 99.1
NEWS RELEASE

Media Contact:	Doug Kline Sempra Energy (877) 866-2066 www.sempra.com
Financial Contacts:	Dennis Arriola/Karen Sedgwick Sempra Energy (877) 736-7727

SEMPRA ENERGY'S SECOND-QUARTER 2006
NET INCOME TRIPLES ON
IMPROVED OPERATIONS, ASSET SALES

• Quarterly Income From Continuing Operations Rises 55 Percent
• Asset Sales Generate $1.3 Billion Pre-tax for Capital Program

SAN DIEGO, Aug. 3, 2006 - Sempra Energy (NYSE: SRE) today reported second-quarter 2006 net income of $373 million, or $1.43 per diluted share, more than triple last year's second-quarter net income of $121 million, or $0.48 per diluted share.

Second-quarter 2006 net income included $188 million, or $0.72 per diluted share, in discontinued operations, principally related to gains from asset sales, offset by impairment charges from assets held for sale. Income from continuing operations was $185 million, or $0.71 per diluted share, in the second quarter 2006, compared with $119 million, or $0.47 per diluted share, in the prior-year's quarter. Second-quarter 2006 income from continuing operations was reduced by a $7 million impairment, or $0.03 per diluted share, related to the sale of the company's Texas natural gas-fired generating assets.

For the first six months of 2006, Sempra Energy's net income was $628 million, or $2.42 per diluted share, compared with $344 million, or $1.40 per diluted share, in the first half of 2005. Income from continuing operations for the first six months of 2006 was $419 million, or $1.61 per diluted share, compared with $340 million, or $1.38 per diluted share, during the same period last year.

"Our higher second-quarter earnings reflect the continued outstanding results by our core operating units," said Donald E. Felsinger, chairman and chief executive officer of Sempra Energy. "Our initiative to divest non-strategic assets has exceeded our expectations, thus far, generating about $1.3 billion in pre-tax proceeds to strengthen our balance sheet and support our $10 billion, five-year capital program. This is part of our focused strategy of redeploying capital into critical energy infrastructure. These efforts are being led by our natural gas businesses and our California utilities."

Revenues for Sempra Energy were $2.5 billion in the second quarter 2006, compared with $2.2 billion in the year-ago quarter, due primarily to higher electric revenues and improved margins in commodity marketing.

OPERATING HIGHLIGHTS

Sempra Utilities

Net income for San Diego Gas & Electric (SDG&E) in the second quarter 2006 rose to $65 million from $29 million in the year-ago quarter. During the most recent quarter, SDG&E benefited from one-time and continuing items related to regulatory decisions associated with prior-period cost recovery, performance-based-ratemaking incentive awards and increased earnings from generation investments. These investments included the recently commissioned Palomar Energy Center, a new 550-megawatt natural gas-fired power plant.

"The recent heat wave reinforces the continuing need for new and improved electric infrastructure," Felsinger said. "SDG&E customers set an all-time record for power consumption July 22 - a Saturday - with peak usage 50-percent higher than expected. That's why, since 2001, we've invested more than $2 billion in new electric generation, transmission and distribution infrastructure to handle the ever-increasing demands on SDG&E's system and also why we're proposing a new 500,000-volt transmission line to support the region."

Southern California Gas Co.'s second-quarter 2006 net income was $58 million, unchanged from the prior year.

Sempra Commodities

On the strength of increased natural gas and power sales and improved margins in North America and Europe, Sempra Commodities' second-quarter net income more than doubled to $69 million in 2006 from $26 million last year.

"Sempra Commodities continues to prosper amidst volatile global energy markets by helping its customers manage their energy needs," Felsinger said.

Sempra Generation

In the second quarter 2006, Sempra Generation's net income was $17 million, compared with $22 million in the second quarter 2005, due primarily to the impairment charge related to the sale of the Texas gas-fired power plants.

On July 7, 2006, Sempra Generation completed the sale of its 50-percent ownership of the Coleto Creek coal-fired power plant and the above-mentioned seven gas-fired power plants in Texas. As a result of these transactions, Sempra Generation will record a third-quarter 2006 after-tax gain of approximately $208 million.

Sempra Pipelines & Storage

Second-quarter net income for Sempra Pipelines & Storage in 2006 was $28 million, up from $16 million in 2005, due primarily to the favorable resolution of prior years' tax issues.

During the most recent quarter, the Rockies Express Pipeline project, in which Sempra Pipelines & Storage owns a 25-percent stake, announced the start of a binding open season to solicit support to extend the pipeline east from its currently proposed terminus in Monroe County, Ohio, to Oakford, Pa.  The 100-mile extension is designed to provide up to 1.8 billion cubic feet per day of firm transportation capacity to Pennsylvania. 

Sempra LNG

Sempra LNG reported a net loss of $17 million in the second quarter 2006, compared with a net loss of $5 million in the year-ago quarter, due primarily to a $12 million mark-to-market loss on a marketing agreement with Sempra Commodities related to Sempra LNG's Energía Costa Azul receipt terminal under development in Baja California, Mexico.

Construction remains on schedule for Sempra LNG's receipt terminals in Mexico and Cameron, La. Both terminals are expected to be operational in 2008.

Discontinued Operations

Sempra Energy has undertaken a program to sell non-core assets to help fund its capital program, which is focused on developing North American natural gas infrastructure and growing its California utilities.

During the second quarter 2006, Sempra Generation sold its Twin Oaks coal-fired generation facility in Texas, as well as its energy-facilities-management and performance-contracting operations. During the first half of 2006, these sales resulted in an after-tax gain of $247 million.

On July 31, 2006, Sempra Generation also completed the sale of its exploration and production business, which will result in a third-quarter 2006 after-tax gain of approximately $110 million.

During the second quarter 2006, Sempra Pipelines & Storage also recorded a $35 million after-tax impairment charge for its natural gas distribution investments in Maine and North Carolina.

Internet Broadcast

Sempra Energy will broadcast a live discussion of its earnings results over the Internet today at 1 p.m. EDT with senior management of the company. Access is available by logging onto the Web site at www.sempra.com. For those unable to log onto the live webcast, the teleconference will be available on replay a few hours after its conclusion by dialing (706) 645-9291 and entering the passcode 2763046.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2005 revenues of $11.7 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.

Income-statement information by business unit is available on Sempra Energy's Web site at http://www.sempra.com/downloads/2Q2006_Table_All.pdf.

###

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 Californ ia Public Utilities Commission, the California State Legislature, the California Department of Water Resources, the Federal Energy Regulatory Commission and other regulatory bodies in the United States and other countries; capital markets 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; 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, www.sec.gov and on the company's Web site, www.sempra.com.

Sempra LNG and Sempra Pipelines & Storage are not the same companies as the utilities, SDG&E or SoCalGas, and are not regulated by the California Public Utilities Commission.  Sempra Energy Trading, doing business as Sempra Commodities, and Sempra Generation are not the same companies as the utilities, SDG&E or SoCalGas, and the California Public Utilities Commission does not regulate the terms of their products and services.

SEMPRA ENERGY
Table A
STATEMENTS OF CONSOLIDATED INCOME
		Three months ended				Six months ended
		June 30,				June 30,
(Dollars in millions, except per share amounts)		2006		2005		2006		2005
		(Unaudited)
Operating revenues
California utilities		$ 1,568		$ 1,461		$ 3,696		$ 3,288
Sempra Global and parent		918		762		2,126		1,582
	Total operating revenues	2,486		2,223		5,822		4,870
Operating expenses
California utilities:
	Cost of natural gas	535		600		1,665		1,513
	Cost of electric fuel and purchased power	153		146		363		291
Other cost of sales		547		530		1,220		1,087
Other operating expenses		679		532		1,356		1,064
Depreciation and amortization		171		158		328		314
Franchise fees and other taxes		64		55		141		122
	Total operating expenses	2,149		2,021		5,073		4,391
Operating income		337		202		749		479
Other income (expense), net		(5	)	(3	)	(1	)	5
Interest income		25		12		39		22
Interest expense		(87	)	(72	)	(183	)	(146	)
Preferred dividends of subsidiaries		(3	)	(3	)	(5	)	(5	)
Income from continuing operations before income taxes and
	equity in earnings of certain unconsolidated subsidiaries	267		136		599		355
Income tax expense		96		33		204		41
Equity in income of certain unconsolidated subsidiaries		14		16		24		26
Income from continuing operations		185		119		419		340
Discontinued operations, net of tax		188		2		209		4
Net income		$ 373		$ 121		$ 628		$ 344
Basic earnings per share:
	Income from continuing operations	$ 0.73		$ 0.49		$ 1.64		$ 1.42
	Discontinued operations, net of tax	0.73		0.01		0.82		0.02
	Net income	$ 1.46		$ 0.50		$ 2.46		$ 1.44
Weighted-average number of shares outstanding (thousands)		255,728		243,898		254,996		238,448
Diluted earnings per share:
	Income from continuing operations	$ 0.71		$ 0.47		$ 1.61		$ 1.38
	Discontinued operations, net of tax	0.72		0.01		0.81		0.02
	Net income	$ 1.43		$ 0.48		$ 2.42		$ 1.40
Weighted-average number of shares outstanding (thousands)		260,320		250,073		259,804		245,772
Dividends declared per share of common stock		$ 0.30		$ 0.29		$ 0.60		$ 0.58
The statements above reflect the decisions in 2006 to dispose of the Twin Oaks power plant, Sempra Energy Production Company, and the Energy Services and Facilities Management businesses, all within Sempra Generation, and Bangor Gas and Frontier Energy, both within Sempra Pipelines & Storage.

SEMPRA ENERGY
Table B
CONSOLIDATED BALANCE SHEETS
				June 30,	December 31,
(Dollars in millions)				2006	2005
				(Unaudited)
Assets
Current assets:
	Cash and cash equivalents			$ 721	$ 769
	Short-term investments			4	12
	Accounts receivable			741	1,145
	Deferred income taxes			347	134
	Interest receivable			29	29
	Trading-related receivables and deposits, net			2,635	3,370
	Derivative trading instruments			4,077	4,502
	Commodities owned			1,863	2,498
	Regulatory assets			213	255
	Inventories			136	205
	Other			250	297
		Current assets of continuing operations		11,016	13,216
		Current assets of discontinued operations		216	611
			Total current assets	11,232	13,827
Investments and other assets:
	Due from unconsolidated affiliates			20	21
	Regulatory assets arising from fixed-price contracts and other derivatives			377	398
	Other regulatory assets			718	713
	Nuclear decommissioning trusts			649	638
	Investments			1,092	1,091
	Sundry			814	802
			Total investments and other assets	3,670	3,663
Property, plant and equipment, net				12,385	11,756
Total assets				$ 27,287	$ 29,246
Liabilities and Shareholders' Equity
Current liabilities:
	Short-term debt			$ 375	$ 1,043
	Accounts payable			954	1,394
	Income taxes payable			118	86
	Trading-related payables			2,917	4,127
	Derivative trading instruments			2,895	3,246
	Commodities sold with agreement to repurchase			218	634
	Dividends and interest payable			144	140
	Regulatory balancing accounts, net			367	192
	Fixed-price contracts and other derivatives			92	130
	Current portion of long-term debt			681	98
	Other			862	1,012
		Current liabilities of continuing operations		9,623	12,102
		Current liabilities of discontinued operations		206	151
			Total current liabilities	9,829	12,253
Long-term debt				4,414	4,815
Deferred credits and other liabilities:
	Due to unconsolidated affiliate			162	162
	Customer advances for construction			120	110
	Postretirement benefits other than pensions			121	121
	Deferred income taxes			218	214
	Deferred investment tax credits			70	73
	Regulatory liabilities arising from removal obligations			2,353	2,313
	Asset retirement obligations			983	958
	Other regulatory liabilities			206	200
	Fixed-price contracts and other derivatives			392	400
	Deferred credits and other			1,413	1,288
			Total deferred credits and other liabilities	6,038	5,839
Preferred stock of subsidiaries				179	179
Shareholders' equity				6,827	6,160
Total liabilities and shareholders' equity				$ 27,287	$ 29,246
The statements above reflect the decisions in 2006 to dispose of the Twin Oaks power plant, Sempra Energy Production Company, and the Energy Services and Facilities Management businesses, all within Sempra Generation, and Bangor Gas and Frontier Energy, both within Sempra Pipelines & Storage.

SEMPRA ENERGY
Table C
CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS
		Six months ended
		June 30,
(Dollars in millions)		2006		2005
		(Unaudited)
Cash Flows from Operating Activities:
Income from continuing operations		$ 419		$ 340
Adjustments to reconcile income from continuing operations to net cash
provided by operating activities:
	Depreciation and amortization	328		314
	Deferred income taxes and investment tax credits	(216	)	(60	)
	Other	76		10
Net changes in other working capital components		79		(51	)
Changes in other assets		(2	)	15
Changes in other liabilities		32		2
	Net cash provided by continuing operations	716		570
	Net cash provided by discontinued operations	76		20
	Net cash provided by operating activities	792		590
Cash Flows from Investing Activities:
Expenditures for property, plant and equipment		(893	)	(574	)
Proceeds from sale of assets from continuing operations		24		15
Expenditures for investments		(120	)	(6	)
Distribution from investment		104		-
Purchases of nuclear decommissioning and other trust assets		(398	)	(162	)
Proceeds from sales by nuclear decommissioning and other trusts		371		130
Dividends received from unconsolidated affiliates		3		46
Other		(5	)	5
	Net cash used in continuing operations	(914	)	(546	)
	Net cash provided by (used in) discontinued operations	560		(12	)
	Net cash used in investing activities	(354	)	(558	)
Cash Flows from Financing Activities:
Common dividends paid		(134	)	(119	)
Issuances of common stock		46		666
Repurchases of common stock		(12	)	(95	)
Issuances of long-term debt		253		250
Redemption of mandatorily redeemable preferred securities		-		(200	)
Payments on long-term debt		(64	)	(67	)
Decrease in short-term debt, net		(668	)	(156	)
Financing transaction related to Sempra Financial		83		-
Other		8		(3	)
	Net cash provided by (used in) continuing operations	(488	)	276
	Net cash provided by discontinued operations	2		1
	Net cash provided by (used in) financing activities	(486	)	277
Increase (decrease) in cash and cash equivalents		(48	)	309
Cash and cash equivalents, January 1		769		415
Cash and cash equivalents, June 30		$ 721		$ 724
The statements above reflect the decisions in 2006 to dispose of the Twin Oaks power plant, Sempra Energy Production Company, and the Energy Services and Facilities Management businesses, all within Sempra Generation, and Bangor Gas and Frontier Energy, both within Sempra Pipelines & Storage.

SEMPRA ENERGY
Table D
BUSINESS UNIT EARNINGS AND CAPITAL EXPENDITURES & INVESTMENTS (Unaudited)
			Three months ended				Six months ended
			June 30,				June 30,
(Dollars in millions)			2006		2005		2006			2005
Net Income
California Utilities:
	San Diego Gas & Electric		$ 65		$ 29		$ 112			$ 88
	Southern California Gas		58		58		107			127
		Total California Utilities	123		87		219			215
Sempra Global:
	Sempra Commodities		69		26		185			55
	Sempra Generation*		17		22		57			67
	Sempra Pipelines & Storage*		28		16		39			29
	Sempra LNG		(17	)	(5	)	(22	)		(10	)
		Total Sempra Global	97		59		259			141
Parent & Other			(35	)	(27	)	(59	)		(16	)
Continuing Operations			185		119		419			340
Discontinued Operations			188		2		209			4
Consolidated Net Income			$ 373		$ 121		$ 628			$ 344
	* Excludes amounts now classified as discontinued operations.
CAPITAL EXPENDITURES & INVESTMENTS (Unaudited)
			Three months ended				Six months ended
			June 30,				June 30,
(Dollars in millions)			2006		2005		2006			2005
Capital Expenditures and Investments
California Utilities:
	San Diego Gas & Electric		$ 140		$ 102		$ 723			$ 196
	Southern California Gas		96		83		193			146
	Total California Utilities		236		185		916			342
Sempra Global:
	Sempra Generation		5		36		35			83
	Sempra Commodities		10		16		30			29
	Sempra Pipelines & Storage		41		3		146			7
	Sempra LNG		193		68		345			113
	Total Sempra Global		249		123		556			232
Parent & Other			9		4		(459	)	(1)	6
Consolidated Capital Expenditures and Investments			$ 494		$ 312		$ 1,013			$ 580
(1) Reflects the transfer of the Palomar plant to SDG&E from Sempra Generation.
The statements above reflect the decisions in 2006 to dispose of the Twin Oaks power plant, Sempra Energy Production Company, and the Energy Services and Facilities Management businesses, all within Sempra Generation, and Bangor Gas and Frontier Energy, both within Sempra Pipelines & Storage.

SEMPRA ENERGY
Table E
OTHER OPERATING STATISTICS (Unaudited)
		Three months ended			Six months ended
		June 30,			June 30,
CALIFORNIA UTILITIES		2006	2005		2006	2005
Revenues (Dollars in millions)
	SDG&E (excludes intercompany sales)	$ 660	$ 535		$ 1,378	$ 1,151
	SoCalGas (excludes intercompany sales)	$ 908	$ 926		$ 2,318	$ 2,137
Gas Sales (Bcf)		89	86		230	223
Transportation and Exchange (Bcf)		132	117		254	239
Total Deliveries (Bcf)		221	203		484	462
Total Gas Customers (Thousands)					6,427	6,335
Electric Sales (Millions of kWhs)		3,832	3,782		7,875	7,688
Direct Access (Millions of kWhs)		756	808		1,654	1,628
Total Deliveries (Millions of kWhs)		4,588	4,590		9,529	9,316
Total Electric Customers (Thousands)					1,346	1,327
SEMPRA GENERATION
Power Sold (Millions of kWhs)		4,592	4,347	(1)	10,342	9,336	(1)
(1)	Revised to exclude the Twin Oaks power plant as a discontinued operation.
SEMPRA PIPELINES & STORAGE
(Represents 100% of these subsidiaries, although only the Mexican subsidiaries are 100% owned by Sempra Energy.)
Natural Gas Sales (Bcf)
	Argentina	67	71		119	122
	Mexico	11	11		21	21
	Chile	-	-		1	1
Natural Gas Customers (Thousands)
	Argentina				1,487	1,473
	Mexico				99	98
	Chile				38	38
Electric Sales (Millions of kWhs)
	Peru	1,157	1,075		2,322	2,127
	Chile	563	508		1,177	1,241
Electric Customers (Thousands)
	Peru				777	757
	Chile				528	516

SEMPRA ENERGY
Table E (Continued)
SEMPRA COMMODITIES
		Three months ended			Six months ended
		June 30,			June 30,
Margin* (Dollars in millions)		2006	2005		2006	2005
Geographical:
	North America	$ 247	$ 169		$ 606	$ 294
	Europe/Asia	18	(35)		24	(6)
	Total	$ 265	$ 134		$ 630	$ 288
Product Line:
	Gas	$ 105	$ 16		$ 284	$ 1
	Power	110	82		211	124
	Oil - Crude & Products	33	(9)		86	71
	Metals	(2)	25		25	39
	Other	19	20		24	53
	Total	$ 265	$ 134		$ 630	$ 288
* Margin consists of net revenues less related costs (primarily brokerage, transportation and storage) plus or minus net interest expense/income, and is used by management in evaluating its geographical and product line performance.
		Three months ended			Six months ended
		June 30,			June 30,
Effect of EITF 02-03 (Dollars in millions)		2006	2005		2006	2005
	Mark-to-Market Earnings **	$ 83	$ 77		$ 243	$ 129
	Effect of EITF 02-03 ***	(14)	(51)		(58)	(74)
	GAAP Net Income	$ 69	$ 26		$ 185	$ 55
** Represents the fair market value of all commodities transactions. This metric is a useful measurement of profitability because it simultaneously recognizes changes in the various components of transactions and reflects how the business is managed.
*** Consists of the income statement effect of not recognizing changes in the fair market value of certain physical inventories and capacity contracts for transportation and storage.
		Fair
		Market Value
		June 30,	Scheduled Maturity (in months)
Net Unrealized Revenue (Dollars in millions)		2006	0 - 12	13 - 24	25 - 36	> 36
Sources of Over-the-Counter (OTC) Fair Value:
	Prices actively quoted	$ 1,125	$ 259	$ 417	$ 323	$ 126
	Prices provided by other external sources	62	(5)	1	-	66
	Prices based on models and other valuation methods	(30)	-	-	-	(30)
	Total OTC Fair Value (1)	1,157	254	418	323	162
	Maturity of OTC Fair Value - Cumulative Percentages		22.0%	58.1%	86.0%	100.0%
Exchange Contracts (2)		80	232	40	(130)	(62)
Total Net Unrealized Revenue at June 30, 2006		$ 1,237	$ 486	$ 458	$ 193	$ 100
	Net Unrealized Revenue - Cumulative Percentages		39.3%	76.3%	91.9%	100.0%
(1) The present value of unrealized revenue to be received from outstanding OTC contracts
(2) Cash received or (paid) associated with open Exchange Contracts
		June 30,	December 31,
Credit Quality of Unrealized Trading Assets (net of margin)		2006	2005
Commodity Exchanges		14%	2%
Investment Grade		61%	75%
Below Investment Grade		25%	23%
		Three months ended			Six months ended
		June 30,			June 30,
Risk Adjusted Performance Indicators (Mark-to-Market Basis)		2006	2005		2006	2005
VaR at 95% (Dollars in millions) (1)		$ 14.3	$ 9.6		$ 18.1	$ 9.1
VaR at 99% (Dollars in millions) (2)		$ 20.1	$ 13.6		$ 25.6	$ 12.8
Risk Adjusted Return on Capital (RAROC) (3)		30%	37%		32%	35%
(1) Average Daily Value-at-Risk for the period using a 95% confidence level
(2) Average Daily Value-at-Risk for the period using a 99% confidence level
(3) Average Daily Trading Margin/Average Daily VaR at 95% confidence level
Physical Statistics
Natural Gas (BCF/Day)		11.6	10.6		12.1	11.4
Electric (Billions of kWhs)		109.0	86.0		223.9	193.8
Oil & Liquid Products (Millions Bbls/Day)		0.9	1.0		0.8	1.0

EX-99

Exhibit 99.2

SEMPRA ENERGY
Table F (Unaudited)
Income Statement Data by Business Unit
Six Months Ended June 30, 2006
(Dollars in millions)	SDG&E	SoCalGas		Commodities		Generation		Pipelines & Storage		LNG		Consolidating Adjustments, Parent & Other		Total
Operating Revenues	$ 1,386	$ 2,333		$ 1,394		$ 653		$ 148		$ (20	)	$ (72	)	$ 5,822
Cost of Sales and Other Operating Expenses	1,015	1,993		1,057		526		139		19		(4	)	4,745
Depreciation & Amortization	147	133		13		22		6		-		7		328
Operating Income (Loss)	224	207		324		105		3		(39	)	(75	)	749
Other Income (Expense), Net	13	(1	)	-		(10	)	3		(2	)	(4	)	(1	)
Income (Loss) before Interest & Taxes (1)	237	206		324		95		6		(41	)	(79	)	748
Net Interest Expense (2)	52	19		31		4		-		2		41		149
Income Tax Expense (Benefit)	73	80		108		34		(9	)	(21	)	(61	)	204
Equity in Income of Certain Unconsolidated Subsidiaries	-	-		-		-		24		-		-		24
Discontinued Operations	-	-		-		-		-		-		209		209
Net Income (Loss)	$ 112	$ 107		$ 185		$ 57		$ 39		$ (22	)	$ 150		$ 628
Six Months Ended June 30, 2005
(Dollars in millions)	SDG&E	SoCalGas		Commodities		Generation		Pipelines & Storage		LNG		Consolidating Adjustments, Parent & Other		Total
Operating Revenues	$ 1,160	$ 2,181		$ 904		$ 686		$ 137		$ -		$ (198	)	$ 4,870
Cost of Sales and Other Operating Expenses	864	1,822		792		547		127		15		(90	)	4,077
Depreciation & Amortization	131	132		14		18		6		-		13		314
Operating Income (Loss)	165	227		98		121		4		(15	)	(121	)	479
Other Income (Expense), Net	1	(1	)	(1	)	-		(1	)	-		7		5
Income (Loss) before Interest & Taxes (1)	166	226		97		121		3		(15	)	(114	)	484
Net Interest Expense (2)	31	18		12		8		-		1		59		129
Income Tax Expense (Benefit)	47	81		30		46		-		(6	)	(157	)	41
Equity in Income of Certain Unconsolidated Subsidiaries	-	-		-		-		26		-		-		26
Discontinued Operations	-	-		-		-		-		-		4		4
Net Income (Loss)	$ 88	$ 127		$ 55		$ 67		$ 29		$ (10	)	$ (12	)	$ 344
(1) Management believes "Income before Interest & Taxes" (Operating Income plus Other Income, Net) is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income taxes, neither of which is directly relevant to the efficiency of those operations.
(2) Net Interest Expense includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries.

SEMPRA ENERGY
Table F (Unaudited)
Income Statement Data by Business Unit
Three Months Ended June 30, 2006
(Dollars in millions)	SDG&E		SoCalGas		Commodities		Generation		Pipelines & Storage		LNG		Consolidating Adjustments, Parent & Other		Total
Operating Revenues	$ 664		$ 908		$ 614		$ 257		$ 72		$ (20	)	$ (9	)	$ 2,486
Cost of Sales and Other Operating Expenses	459		735		479		212		68		9		16		1,978
Depreciation & Amortization	80		67		6		11		3		-		4		171
Operating Income (Loss)	125		106		129		34		1		(29	)	(29	)	337
Other Income (Expense), Net	11		(1	)	1		(10	)	2		(1	)	(7	)	(5	)
Income (Loss) before Interest & Taxes (1)	136		105		130		24		3		(30	)	(36	)	332
Net Interest Expense (Income) (2)	33		4		15		(2	)	-		1		14		65
Income Tax Expense (Benefit)	38		43		46		9		(11	)	(14	)	(15	)	96
Equity in Income of Certain Unconsolidated Subsidiaries	-		-		-		-		14		-		-		14
Discontinued Operations	-		-		-		-		-		-		188		188
Net Income (Loss)	$ 65		$ 58		$ 69		$ 17		$ 28		$ (17	)	$ 153		$ 373
Three Months Ended June 30, 2005
(Dollars in millions)	SDG&E		SoCalGas		Commodities		Generation		Pipelines & Storage		LNG		Consolidating Adjustments, Parent & Other		Total
Operating Revenues	$ 539		$ 940		$ 446		$ 309		$ 73		$ -		$ (84	)	$ 2,223
Cost of Sales and Other Operating Expenses	403		773		391		248		69		8		(29	)	1,863
Depreciation & Amortization	66		66		7		10		3		-		6		158
Operating Income (Loss)	70		101		48		51		1		(8	)	(61	)	202
Other Income (Expense), Net	(2	)	-		(1	)	(6	)	(1	)	-		7		(3	)
Income (Loss) before Interest & Taxes (1)	68		101		47		45		-		(8	)	(54	)	199
Net Interest Expense (2)	19		9		6		3		-		-		26		63
Income Tax Expense (Benefit)	20		34		15		20		(1	)	(3	)	(52	)	33
Equity in Income of Certain Unconsolidated Subsidiaries	-		-		-		-		15		-		1		16
Discontinued Operations	-		-		-		-		-		-		2		2
Net Income (Loss)	$ 29		$ 58		$ 26		$ 22		$ 16		$ (5	)	$ (25	)	$ 121
(1) Management believes "Income before Interest & Taxes" (Operating Income plus Other Income, Net) is a useful measurement of our business units' performance because it can be used to evaluate the effectiveness of our operations exclusive of interest and income taxes, neither of which is directly relevant to the efficiency of those operations.
(2) Net Interest Expense (Income) includes Interest Income, Interest Expense and Preferred Dividends of Subsidiaries.