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Sempra Energy settles some California claims

Posted on: Sunday, 30 October 2005, 16:35 CST

NEW YORK (Reuters) - Sempra Energy has settled some claims in a much larger lawsuit brought on by plaintiffs who have accused the company and its units of rigging prices during the California energy crisis in 2000 and 2001.

Late Saturday, Sempra Energy said it, Southern California Gas Co. and San Diego Gas & Electric reached an agreement with the County of Los Angeles and 11 other plaintiffs in the larger Continental Forge case.

Terms of the agreement were not disclosed.

"Our companies are pleased to have reached a mutually agreeable settlement for a fraction of these particular plaintiffs' claims," Javade Chaudhri, Sempra chief executive, said in a statement.

The plaintiffs involved in the settlement were not part of the initial class of Ventura County natural gas customers and Southern California Edison customers, the company said.

The case is currently under way in San Diego Superior Court.

"The allegations involved in this case are simply false and, as part of this agreements, Sempra Energy and our affiliate companies expressly deny any wrongdoing," Chaudhri said.

Source: REUTERS

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