Sempra Set to Settle $377 Million in Suits

Summary

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SAN DIEGO -- Sempra Energy agreed Wednesday to pay $377 million and change its business practices to settle class-action lawsuits accusing the company of conspiring to limit supplies and drive up prices during California's energy crisis in 2000 and 2001.

Sempra admitted no wrongdoing in the settlement, which calls for the company to reduce by $300 million the amount it charges the state under long-term power contracts reached during the height of the energy crisis.

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Sempra Set to Settle $377 Million in Suits

The San Diego-based company also agreed to changes in its utility and natural gas operations that will ultimately yield a total of more th...

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