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SAN DIEGO GAS & ELECTRIC REACHES COST OF CAPITAL SETTLEMENT

 SAN DIEGO, Sept. 13 /PRNewswire/ -- San Diego Gas & Electric today reached an agreement with the California Public Utilities Commission's Division of Ratepayer Advocates in the annual Cost of Capital proceeding.
 The agreement specifies a 10.85 return on equity, while maintaining the current capital structure (49.5 percent equity, 6.0 percent preferred, 44.5 percent debt). The agreement's recommended ROE is a reduction from the current ROE of 11.85 percent.
 Negotiations continue with other intervenor groups, and a final CPUC decision is expected in December, with rates effective Jan. 1, 1994.
 "The decline in interest rate has lowered SDG&E's cost of capital, and the result is savings to the customer," said Malyn Malquist, SDG&E vice president-finance and treasurer.
 Should the CPUC approve the settlement, impact on average monthly residential bills would be a decrease of about $1.20 per month.
 -0- 9/13/93
 /CONTACT: Gretchen Griswold, 619-696-4309/


CO: San Diego Gas & Electric; California Public Utilities Commission ST: California IN: UTI SU:

JL-MF -- SD001 -- 1120 09/13/93 08:46 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
Words:175
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