1.0.0.3 false FAIR VALUE MEASUREMENTS false 1 $ false false 2 Notes to Condensed Consolidated Financial Statements 0 sre_NotesToConsolidatedFinancialStatementsAbstract sre false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 Fair Value Disclosures [Text Block] 1 us-gaap_FairValueDisclosuresTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <HTML><HEAD><META content="text/html; charset=utf-8" /></HEAD><BODY><DIV>NOTE 8. FAIR VALUE MEASUREMENTS Fair Value of Financial Instruments The fair values of certain of our financial instruments (cash, temporary investments, accounts and notes receivable, dividends and accounts payable, short-term debt and customer deposits) approximate their carrying amounts. The following table provides the carrying amounts and fair values of the remaining financial instruments at June 30, 2009 and December 31, 2008:</DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD colspan="10" width="655" height="19" align="left" style="border-top: 1px solid #000000;">FAIR VALUE OF FINANCIAL INSTRUMENTS</TD></TR><TR><TD colspan="10" width="655" height="19" align="left">(Dollars in millions)</TD></TR><TR><TD width="38" height="14" align="left"> </TD><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="166" height="14" align="center" style="border-bottom: 1px solid #000000;">June 30, 2009</TD><TD colspan="4" width="166" height="14" align="center" style="border-bottom: 1px solid #000000;">December 31, 2008</TD></TR><TR><TD width="38" height="14" align="left"> </TD><TD width="285" height="14" align="left"> </TD><TD colspan="2" width="83" height="14" align="center" style="border-top: 1px solid #000000;">Carrying</TD><TD colspan="2" width="83" height="14" align="center" style="border-top: 1px solid #000000;">Fair</TD><TD colspan="2" width="83" height="14" align="center" style="border-top: 1px solid #000000;">Carrying</TD><TD colspan="2" width="83" height="14" align="center" style="border-top: 1px solid #000000;">Fair</TD></TR><TR><TD width="38" height="14" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="285" height="14" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD colspan="2" width="83" height="14" align="center" style="border-bottom: 1px solid #000000;">Amount</TD><TD colspan="2" width="83" height="14" align="center" style="border-bottom: 1px solid #000000;">Value</TD><TD colspan="2" width="83" height="14" align="center" style="border-bottom: 1px solid #000000;">Amount</TD><TD colspan="2" width="83" height="14" align="center" style="border-bottom: 1px solid #000000;">Value</TD></TR><TR><TD colspan="2" width="323" height="16" align="left" style="border-top: 1px solid #000000;">Sempra Energy Consolidated:</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">Investments in affordable housing partnerships (1)</TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 39 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 54 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 43 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 63 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">Total long-term debt (2)</TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 7,358 </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 7,697 </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 6,962 </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 7,013 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">Due to unconsolidated affiliates</TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 102 </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 106 </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 102 </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="right"> 101 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left" style="border-bottom: 3px solid #000000;">Preferred stock of subsidiaries</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 179 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 149 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 179 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 149 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left" style="border-top: 3px solid #000000;">SDG&E:</TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">Total long-term debt (3)</TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 2,506 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 2,519 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 2,146 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 2,073 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left" style="border-bottom: 3px solid #000000;">Contingently redeemable preferred stock</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 79 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 71 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 79 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 71 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left" style="border-top: 3px solid #000000;">PE and SoCalGas:</TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">Total long-term debt (4)</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 1,371 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 1,383 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 1,372 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #000000;"> 1,333 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">PE:</TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="61" height="16" align="left"> </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">    Preferred stock</TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 80 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 61 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 80 </TD><TD width="22" height="16" align="left">$</TD><TD width="61" height="16" align="right"> 59 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">    Preferred stock of subsidiary</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 1px solid #000000;"> 20 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 1px solid #000000;"> 17 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 1px solid #000000;"> 20 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="61" height="16" align="right" style="border-bottom: 1px solid #000000;"> 19 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 100 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 78 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 100 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="61" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 78 </TD></TR><TR><TD colspan="2" width="323" height="16" align="left">SoCalGas:</TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="61" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD colspan="2" width="323" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">    Preferred stock</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 22 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 18 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 22 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="61" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 20 </TD></TR><TR><TD width="38" height="28" align="center" style="border-top: 3px solid #C0C0C0;">(1)</TD><TD colspan="9" width="617" height="28" align="left" style="border-top: 3px solid #C0C0C0;">We discuss our investments in affordable housing partnerships in Note 4 of the Notes to Consolidated Financial Statements in the Annual Report.</TD></TR><TR><TD width="38" height="17" align="center">(2)</TD><TD colspan="9" width="617" height="17" align="left">Before reductions for unamortized discount of $11 million at June 30, 2009 and $8 million at December 31, 2008.</TD></TR><TR><TD width="38" height="17" align="center">(3)</TD><TD colspan="9" width="617" height="17" align="left">Before reductions for unamortized discount of $4 million at June 30, 2009 and $2 million at December 31, 2008.</TD></TR><TR><TD width="38" height="17" align="center">(4)</TD><TD colspan="9" width="617" height="17" align="left">Before reductions for unamortized discount of $2 million at June 30, 2009 and $2 million at December 31, 2008.</TD></TR></TABLE></DIV><DIV>Sempra Energy based the fair values of investments in affordable housing partnerships on the present value of estimated future cash flows, discounted at rates available for similar investments. Sempra Energy estimated the fair values of debt incurred to acquire affordable housing partnerships based on the present value of the future cash flows, discounted at rates available for similar notes with comparable maturities. All entities based the fair values of the long-term debt and preferred stock on their quoted market prices or quoted market prices for similar securities.</DIV><DIV>Derivative Positions Net of Cash Collateral In accordance with FSP FIN 39-1, Amendment of FASB Interpretation No. 39 (ASC 815), each Condensed Consolidated Balance Sheet reflects the offsetting of net derivative positions with fair value amounts for cash collateral with the same counterparty when management believes a legal right of offset exists. The following table provides the amount of fair value of cash collateral receivables and payables that were offset against net derivative positions in the Condensed Consolidated Balance Sheets as of June 30, 2009 and December 31, 2008: </DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD width="320" height="14" align="left"> </TD><TD colspan="2" width="97" height="14" align="center">June 30,</TD><TD colspan="2" width="97" height="14" align="center">December 31,</TD></TR><TR><TD width="320" height="14" align="left" style="border-bottom: 1px solid #000000;">(Dollars in millions)</TD><TD colspan="2" width="97" height="14" align="center" style="border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="97" height="14" align="center" style="border-bottom: 1px solid #000000;">2008 </TD></TR><TR><TD width="320" height="16" align="left" style="border-top: 1px solid #000000;">Receivables:</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="75" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="75" height="16" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="320" height="16" align="left">    Sempra Energy Consolidated</TD><TD width="22" height="16" align="right">$</TD><TD width="75" height="16" align="right"> 45 </TD><TD width="22" height="16" align="right">$</TD><TD width="75" height="16" align="right"> 63 </TD></TR><TR><TD width="320" height="16" align="left">    SDG&E</TD><TD width="22" height="16" align="right"> </TD><TD width="75" height="16" align="right"> 45 </TD><TD width="22" height="16" align="right"> </TD><TD width="75" height="16" align="right"> 52 </TD></TR><TR><TD width="320" height="16" align="left">    SoCalGas</TD><TD width="22" height="16" align="right"> </TD><TD width="75" height="16" align="right"> - </TD><TD width="22" height="16" align="right"> </TD><TD width="75" height="16" align="right"> 11 </TD></TR><TR><TD width="320" height="16" align="left">Payables:</TD><TD width="22" height="16" align="right"> </TD><TD width="75" height="16" align="left"> </TD><TD width="22" height="16" align="right"> </TD><TD width="75" height="16" align="left"> </TD></TR><TR><TD width="320" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">    Sempra Energy Consolidated</TD><TD width="22" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 50 </TD><TD width="22" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 38 </TD></TR></TABLE></DIV><DIV>The following table provides the amount of fair value of cash collateral that was not offset in the Condensed Consolidated Balance Sheets as of June 30, 2009 and December 31, 2008:</DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD width="320" height="14" align="left"> </TD><TD colspan="2" width="97" height="14" align="center">June 30,</TD><TD colspan="2" width="97" height="14" align="center">December 31,</TD></TR><TR><TD width="320" height="14" align="left" style="border-bottom: 1px solid #000000;">(Dollars in millions)</TD><TD colspan="2" width="97" height="14" align="center" style="border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="97" height="14" align="center" style="border-bottom: 1px solid #000000;">2008 </TD></TR><TR><TD width="320" height="16" align="left" style="border-top: 1px solid #000000;">Sempra Energy Consolidated</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="75" height="16" align="right" style="border-top: 1px solid #000000;"> 24 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="75" height="16" align="right" style="border-top: 1px solid #000000;"> 28 </TD></TR><TR><TD width="320" height="16" align="left">SDG&E</TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 16 </TD><TD width="22" height="16" align="left"> </TD><TD width="75" height="16" align="right"> 21 </TD></TR><TR><TD width="320" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">SoCalGas</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;"> </TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 7 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;"> </TD><TD width="75" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> 7 </TD></TR></TABLE></DIV><DIV>Fair Value Hierarchy We discuss the valuation techniques we use to measure fair value and the definition of the three levels of the fair value hierarchy, as defined in SFAS 157, Fair Value Measurements (SFAS 157) (ASC 820), and our netting policy for derivative positions in Notes 1, 2 and 11 of the Notes to Consolidated Financial Statements in the Annual Report. The three tables below, by level within the fair value hierarchy, set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2009 and December 31, 2008. As required by SFAS 157, we classify financial assets and liabilities in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities, and their placement within the fair value hierarchy levels. The determination of fair values incorporates various factors required under SFAS 157. These factors include not only the credit standing of the counterparties involved and the impact of credit enhancements (such as cash deposits, letters of credit and priority interests), but also the impact of the risk of our nonperformance on our liabilities. The fair value of commodity derivative assets and liabilities is determined in accordance with our netting policy as discussed above. </DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD colspan="11" width="644" height="19" align="left" style="border-top: 1px solid #000000;">RECURRING FAIR VALUE MEASURES -- SEMPRA ENERGY CONSOLIDATED</TD></TR><TR><TD colspan="11" width="644" height="19" align="left">(Dollars in millions)</TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD colspan="10" width="435" height="14" align="center" style="border-bottom: 1px solid #000000;">At fair value as of June 30, 2009</TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;">Netting and</TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 1</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 2</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 3</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Collateral</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Total</TD></TR><TR><TD width="209" height="16" align="left">Assets:</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">    Nuclear decommissioning trusts*</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 436 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 140 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 576 </TD></TR><TR><TD width="209" height="16" align="left">    Investments</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 1 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 1 </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 28 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 87 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 25 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> (50)</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 90 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 71 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 71 </TD></TR><TR><TD width="209" height="16" align="left">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 465 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 298 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 25 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> (50)</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 738 </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">Liabilities:</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 40 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 107 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> (45)</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 102 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 68 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 68 </TD></TR><TR><TD width="209" height="16" align="left" style="border-bottom: 3px solid #000000;">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 40 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 175 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> (45)</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 170 </TD></TR><TR><TD width="209" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD colspan="10" width="435" height="16" align="center" style="border-bottom: 1px solid #000000;">At fair value as of December 31, 2008</TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;">Netting and</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 1</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 2</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 3</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Collateral</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Total</TD></TR><TR><TD width="209" height="16" align="left">Assets:</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">    Nuclear decommissioning trusts*</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 421 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 148 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 569 </TD></TR><TR><TD width="209" height="16" align="left">    Investments</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 1 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 176 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 177 </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 55 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 76 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 27 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> (38)</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 120 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 76 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 76 </TD></TR><TR><TD width="209" height="16" align="left">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 477 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 476 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 27 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> (38)</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 942 </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">Liabilities:</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 63 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 110 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> (63)</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 110 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 130 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 130 </TD></TR><TR><TD width="209" height="16" align="left" style="border-bottom: 3px solid #000000;">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 63 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 240 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> (63)</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 240 </TD></TR><TR><TD colspan="11" width="644" height="16" align="left" style="border-top: 3px solid #000000;">* Excludes cash balances.</TD></TR></TABLE></DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD colspan="11" width="644" height="19" align="left" style="border-top: 1px solid #000000;">RECURRING FAIR VALUE MEASURES -- SDG&E</TD></TR><TR><TD colspan="11" width="644" height="19" align="left">(Dollars in millions)</TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD colspan="10" width="435" height="14" align="center" style="border-bottom: 1px solid #000000;">At fair value as of June 30, 2009</TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;">Netting and</TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 1</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 2</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 3</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Collateral</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Total</TD></TR><TR><TD width="209" height="16" align="left">Assets:</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">    Nuclear decommissioning trusts*</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 436 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 140 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 576 </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 16 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 25 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 41 </TD></TR><TR><TD width="209" height="16" align="left">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 452 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 140 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 25 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 617 </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">Liabilities:</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 40 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 12 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> (45)</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 7 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 48 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 48 </TD></TR><TR><TD width="209" height="16" align="left" style="border-bottom: 3px solid #000000;">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 40 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 60 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> (45)</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 55 </TD></TR><TR><TD width="209" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD colspan="10" width="435" height="16" align="center" style="border-bottom: 1px solid #000000;">At fair value as of December 31, 2008</TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;">Netting and</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 1</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 2</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 3</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Collateral</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Total</TD></TR><TR><TD width="209" height="16" align="left">Assets:</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">    Nuclear decommissioning trusts*</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 421 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 148 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 569 </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 21 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 27 </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="right"> 48 </TD></TR><TR><TD width="209" height="16" align="left">    Short-term investments</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 24 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 24 </TD></TR><TR><TD width="209" height="16" align="left">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 442 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 172 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 27 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 641 </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">Liabilities:</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 52 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 24 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> (52)</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 24 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 88 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 88 </TD></TR><TR><TD width="209" height="16" align="left" style="border-bottom: 3px solid #000000;">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 52 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 112 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> (52)</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 112 </TD></TR><TR><TD colspan="11" width="644" height="16" align="left" style="border-top: 3px solid #000000;">* Excludes cash balances.</TD></TR></TABLE></DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD colspan="11" width="644" height="19" align="left" style="border-top: 1px solid #000000;">RECURRING FAIR VALUE MEASURES -- SOCALGAS</TD></TR><TR><TD colspan="11" width="644" height="19" align="left">(Dollars in millions)</TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD colspan="10" width="435" height="14" align="center" style="border-bottom: 1px solid #000000;">At fair value as of June 30, 2009</TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;">Netting and</TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="14" align="left"> </TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 1</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 2</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Level 3</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Collateral</TD><TD width="22" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-bottom: 1px solid #000000;">Total</TD></TR><TR><TD width="209" height="14" align="left">Assets:</TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="14" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="14" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 8 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 3 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 11 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 8 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 8 </TD></TR><TR><TD width="209" height="16" align="left" style="border-bottom: 3px solid #000000;">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 8 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 11 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 19 </TD></TR><TR><TD width="209" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD colspan="10" width="435" height="16" align="center" style="border-bottom: 1px solid #000000;">At fair value as of December 31, 2008</TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;">Netting and</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 1</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 2</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Level 3</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Collateral</TD><TD width="22" height="16" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-bottom: 1px solid #000000;">Total</TD></TR><TR><TD width="209" height="16" align="left">Assets:</TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="22" height="16" align="center" style="border-top: 1px solid #000000;"> </TD><TD width="65" height="16" align="center" style="border-top: 1px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">    Commodity derivatives</TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 8 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 3 </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> - </TD><TD width="22" height="16" align="left">$</TD><TD width="65" height="16" align="right"> 11 </TD></TR><TR><TD width="209" height="16" align="left">    Other derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 10 </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="65" height="16" align="right" style="border-bottom: 1px solid #000000;"> 10 </TD></TR><TR><TD width="209" height="16" align="left">Total</TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 8 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 13 </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 21 </TD></TR><TR><TD width="209" height="16" align="left"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="22" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="65" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="209" height="16" align="left">Liabilities:</TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD><TD width="22" height="16" align="left"> </TD><TD width="65" height="16" align="left"> </TD></TR><TR><TD width="209" height="16" align="left" style="border-bottom: 3px solid #000000;">    Commodity derivatives</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-bottom: 3px solid #000000;"> 11 </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-bottom: 3px solid #000000;"> - </TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-bottom: 3px solid #000000;"> (11)</TD><TD width="22" height="16" align="left" style="border-bottom: 3px solid #000000;">$</TD><TD width="65" height="16" align="right" style="border-bottom: 3px solid #000000;"> - </TD></TR></TABLE></DIV><DIV>Level 3 Information The following table sets forth reconciliations of changes in the fair value of net trading and other derivatives classified as Level 3 in the fair value hierarchy:</DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="160" height="14" align="center">Sempra Energy</TD><TD width="11" height="14" align="center"> </TD><TD colspan="2" width="80" height="14" align="center"> </TD><TD colspan="2" width="80" height="14" align="center"> </TD></TR><TR><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-bottom: 1px solid #000000;">Consolidated</TD><TD width="11" height="14" align="center"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-bottom: 1px solid #000000;">SDG&E</TD></TR><TR><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">Three months ended June 30,</TD><TD width="11" height="14" align="center"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">Three months ended June 30,</TD></TR><TR><TD width="285" height="14" align="left" style="border-bottom: 1px solid #000000;">(Dollars in millions)</TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2008 </TD><TD width="11" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2008 </TD></TR><TR><TD width="285" height="16" align="left" style="border-top: 1px solid #000000;">Balance as of April 1</TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 27 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 343 </TD><TD width="11" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 27 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 7 </TD></TR><TR><TD width="285" height="16" align="left">    Realized and unrealized losses</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> 1 </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="11" height="16" align="left"> </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> 1 </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD></TR><TR><TD width="285" height="16" align="left">    Purchases and issuances</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="11" height="16" align="left"> </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD></TR><TR><TD width="285" height="16" align="left">    Settlements</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (3)</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (2)</TD><TD width="11" height="16" align="left"> </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (3)</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (2)</TD></TR><TR><TD width="285" height="16" align="left">    Sale of the commodities-marketing businesses</TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> (336)</TD><TD width="11" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD></TR><TR><TD width="285" height="16" align="left">Balance as of June 30</TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 25 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 5 </TD><TD width="11" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 25 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 5 </TD></TR><TR><TD width="285" height="16" align="left">Change in unrealized gains relating to </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="11" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="285" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">    instruments still held at June 30</TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD><TD width="11" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;"> </TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD></TR></TABLE></DIV><DIV><TABLE style="border-collapse: collapse; margin-top: 20px;"><TR><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="160" height="14" align="center">Sempra Energy</TD><TD width="11" height="14" align="center"> </TD><TD colspan="2" width="80" height="14" align="center"> </TD><TD colspan="2" width="80" height="14" align="center"> </TD></TR><TR><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-bottom: 1px solid #000000;">Consolidated</TD><TD width="11" height="14" align="center"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-bottom: 1px solid #000000;">SDG&E</TD></TR><TR><TD width="285" height="14" align="left"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">Six months ended June 30,</TD><TD width="11" height="14" align="center"> </TD><TD colspan="4" width="160" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">Six months ended June 30,</TD></TR><TR><TD width="285" height="14" align="left" style="border-bottom: 1px solid #000000;">(Dollars in millions)</TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2008 </TD><TD width="11" height="14" align="center" style="border-bottom: 1px solid #000000;"> </TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2009 </TD><TD colspan="2" width="80" height="14" align="center" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;">2008 </TD></TR><TR><TD width="285" height="16" align="left" style="border-top: 1px solid #000000;">Balance as of January 1</TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 27 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 401 </TD><TD width="11" height="16" align="left" style="border-top: 1px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 27 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;"> 7 </TD></TR><TR><TD width="285" height="16" align="left">    Realized and unrealized losses</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> 1 </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (82)</TD><TD width="11" height="16" align="left"> </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> 1 </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD></TR><TR><TD width="285" height="16" align="left">    Purchases and issuances</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> 22 </TD><TD width="11" height="16" align="left"> </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD></TR><TR><TD width="285" height="16" align="left">    Settlements</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (3)</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> - </TD><TD width="11" height="16" align="left"> </TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (3)</TD><TD width="26" height="16" align="left"> </TD><TD width="54" height="16" align="right"> (2)</TD></TR><TR><TD width="285" height="16" align="left">    Sale of the commodities-marketing businesses</TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> (336)</TD><TD width="11" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 1px solid #000000;"> </TD><TD width="54" height="16" align="right" style="border-bottom: 1px solid #000000;"> - </TD></TR><TR><TD width="285" height="16" align="left">Balance as of June 30</TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 25 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 5 </TD><TD width="11" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 25 </TD><TD width="26" height="16" align="left" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;">$</TD><TD width="54" height="16" align="right" style="border-top: 1px solid #000000;border-bottom: 3px solid #000000;"> 5 </TD></TR><TR><TD width="285" height="16" align="left">Change in unrealized gains relating to </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="11" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="26" height="16" align="left" style="border-top: 3px solid #000000;"> </TD><TD width="54" height="16" align="left" style="border-top: 3px solid #000000;"> </TD></TR><TR><TD width="285" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">    instruments still held at June 30</TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD><TD width="11" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;"> </TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD><TD width="26" height="16" align="left" style="border-bottom: 3px solid #C0C0C0;">$</TD><TD width="54" height="16" align="right" style="border-bottom: 3px solid #C0C0C0;"> - </TD></TR></TABLE></DIV><DIV>There were no transfers in or out of Level 3 during the periods presented. Gains and losses (realized and unrealized) for Level 3 recurring items are primarily related to the commodities-marketing businesses and were included in Revenues for Sempra Global and Parent on the Condensed Consolidated Statement of Operations for the three months ended March 31, 2008. With the sale of these businesses on April 1, 2008, Level 3 recurring activity was substantially reduced.</DIV></BODY></HTML> NOTE 8. FAIR VALUE MEASUREMENTSFair Value of Financial InstrumentsThe fair values of certain of our financial instruments (cash, temporary investments, false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true