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Regulators Approve Big Utility Merger

Fri., March 27, 1998

State regulators Thursday approved the $6.6 billion merger of two Southern California power companies, creating the nation’s largest utility.

The marriage of Southern California Gas Co. parent Pacific Enterprises and Enova Corp., the parent of San Diego Gas & Electric, would form a utility with 6 million customers stretching from Los Angeles to Mexico.

It also would create a formidable player in the nationwide move to open electricity markets to competition.

The merger still requires final approval from the Federal Energy Regulatory Commission, the U.S. Justice Department and the federal Securities and Exchange Commission.

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