San Diego Gas & Electric on Monday...

San Diego Gas & Electric on Monday reported that net income fell to $46.4 million for the third quarter ended Sept. 30, down from $46.8 million during the corresponding quarter the previous year. SDG&E; blamed the drop on the state Public Utilities Commission, which reduced SDG&E;’s allowable return on equity. Operating revenue for the quarter rose by 13.3%, to $538.7 million, up from $475.5 million a year ago.

Net income for the nine-month period ended Sept. 30 fell to $133.1 million, down from $136.2 million a year ago. Operating revenue rose by 2%, to $1.2 billion, up from $1.1 billion a year ago.