Sempra Energy announced Wednesday it plans to spend $1.3 billion a year for the next five years on capital expenditures and it spelled out its earnings’ targets for this year and 2004.

The San Diego-based energy company reaffirmed its earnings-per-share guidance of $2.69 to $2.80 for 2003, excluding a 14-cent a share cumulative effect of a change in an accounting standards. This was just shy of analysts’ projections of $2.66 a share for the company this year, as surveyed by Thomson First Call.

Sempra Energy pegged its earnings outlook for 2004 in the range of $2.70 to $3 a share. This is in line with analysts’ predictions of $2.72 a share for the company, as surveyed by Thomson First Call.

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