Company Update

San Diego Gas & Electric Company entered into an underwriting agreement to issue and sell $625,000,000 aggregate principal amount of its 5.200% First Mortgage Bonds, Series DDDD, due 2036 and $475,000,000 aggregate principal amount of its 5.950% First Mortgage Bonds, Series EEEE, due 2056. The sale is a registered public offering under a prospectus supplement and related prospectus.