SAN DIEGO, March 12, 2003 (PRIMEZONE) -- Sempra Energy (NYSE:SRE) has been named "Energy Risk Manager of the Year" by Energy & Power Risk Management magazine.
"Management of credit and market risk on a consistent basis was the most important issue to consider during the volatile year experienced by our industry in 2002," said Energy & Power Risk Management's editor, James Ockenden. "Sempra Energy's advanced risk-management strategy throughout the company and its success in what was a difficult year for energy trading were key factors in its nomination for this award."
"We are pleased to be recognized with this prestigious award," said Stephen L. Baum, chairman, president and chief executive officer of Sempra Energy. "At Sempra Energy, we make business decisions based on careful analysis and financial discipline. This expertise at managing risk helped us navigate the energy crisis and enables us to operate a profitable energy trading business while others have failed. In every aspect of our business, we persevere because we manage the business prudently."
Launched in 1994, Energy & Power Risk Management is a monthly publication that chronicles risk management in the world's energy and power markets and is the only publication to deliver a dedicated view of financial, political and legal risk in the world's oil, gas and electricity markets.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2002 revenues of $6 billion. The Sempra Energy companies' 12,000 employees serve more than 9 million customers in the United States, Europe, Canada, Mexico, South America and Asia.