Pacific Enterprises, Enova Clear Merger Hurdle

The Federal Energy Regulatory Commission gave final approval to the merger of Pacific Enterprises and Enova Corp., moving it closer to completion. The two companies hope to wrap up the deal by July 1. Los Angeles-based Pacific Enterprises, parent of Southern California Gas Co., and San Diego-based Enova, parent of San Diego Gas & Electric, announced their $6-billion merger agreement in October 1996. The commission had given conditional approval last June subject to measures that would mitigate any concentration of market power. The merger still awaits approval from the Securities and Exchange Commission. The deal would create a San Diego-based company called Sempra Energy; its two subsidiary utilities would be operated separately but together will have about 6 million customers, more than any other utility in the nation.