Profile: WGL Holdings Inc (WGL.N)

WGL.N on New York Stock Exchange

26 Dec 2014
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$0.63 (+1.17%)
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WGL Holdings, Inc. (WGL Holdings), incorporated on March 9, 2005, is a holding company. The Company own subsidiaries, which sells and delivers natural gas and/or provide a range of energy-related products and services to customers in the District of Columbia and the surrounding metropolitan areas in Maryland and Virginia. The Company operates in four segments: Regulated Utility, Retail Energy-Marketing, Commercial Energy Systems and Midstream Energy Services. The Company’s wholly owned subsidiaries include Washington Gas Light Company (Washington Gas), Washington Gas Resources Corporation (Washington Gas Resources), Hampshire Gas Company (Hampshire) and Crab Run Gas Company. Washington Gas Resources owns all of the shares of common stock of four non-utility subsidiaries that include Washington Gas Energy Services, Inc. (WGEServices), Washington Gas Energy Systems, Inc. (WGESystems), WGL Midstream and WGSW, Inc. (WGSW).

Regulated Utility Segment

The Company’s regulated utility segment consists of Washington Gas and Hampshire. Washington Gas delivers natural gas to retail customers. Washington Gas also sells natural gas to customers who have not elected to purchase natural gas from un-regulated third-party marketers. Washington Gas recovers the cost of the natural gas to serve firm customers through gas cost recovery mechanisms. Hampshire owns full and partial interests in underground natural gas storage facilities, including pipeline delivery facilities located in and around Hampshire County, West Virginia, and operates those facilities to serve Washington Gas, which purchases all of the storage services of Hampshire. Washington Gas includes the cost of these services in the bills sent to its customers. Washington Gas is responsible for acquiring sufficient natural gas supplies, interstate pipeline capacity and storage capacity to meet customers’ annual and seasonal natural gas requirements. Washington Gas obtains natural gas supplies that originate from multiple regions throughout the United States and Canada.

Retail Energy-Marketing Segment

The retail energy-marketing segment consists of the operations of WGEServices, which sells the natural gas and electric commodity directly to residential, commercial and industrial customers. These commodities are delivered to retail customers through the distribution systems owned by regulated utilities, such as Washington Gas or other unaffiliated natural gas or electric utilities. Washington Gas delivers the natural gas sold by WGEServices, and unaffiliated electric utilities deliver all of the electricity sold. In addition, WGEServices bills its customers through the billing services of the regulated utilities, which deliver its commodities, as well as directly through its own billing capabilities. WGEServices owns multiple solar photovoltaic (Solar PV) power generating facilities.

Commercial Energy Systems Segment

The commercial energy systems segment consists of the operations of WGESystems, WGSW and the results of operations of affiliate owned commercial solar projects. WGESystems provides energy efficiency and sustainability solutions to governmental and commercial clients. These solutions include energy efficiency projects and distributed generation assets that it own and operate such as Solar PV systems, combined heat and power plants, and fuel cells. WGESystems also focuses on upgrading the mechanical, electrical, water and energy-related infrastructure of governmental and commercial facilities by implementing both traditional as well as alternative energy technologies, primarily in the District of Columbia, Maryland and Virginia. In addition to these three regions, WGESystems is also expanding its portfolio of Solar Photovoltaic (Solar PV) power generating systems into Arizona, California, Connecticut, Delaware, Georgia, Hawaii, Massachusetts, New Jersey and New Mexico. WGESystems is also evaluating opportunities in other geographical locations within the United States.

Midstream Energy Services Segment

The Midstream Energy Services segment, which consists of the operations of WGL Midstream, engages in developing, acquiring, managing and optimizing natural gas storage and transportation assets. WGL Midstream enters into both physical and financial derivative transactions to mitigate risks while maximizing potential profits from the optimization of these assets under its management. WGL Midstream’s customers and counterparties include producers, utilities, local distribution companies, power generators, wholesale energy suppliers, pipelines and storage facilities.

Other Activities

Activities and transactions that do not fit into one of its other operating segments, are aggregated as Other activities and are included as part of non-utility operations in the operating segment financial information. Administrative and business development activity costs associated with WGL Holdings and Washington Gas Resources are included in this segment.

Company Address

WGL Holdings Inc

101 Constitution Avenue, NW
P: +1202.6246011

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