Washington Gas’ Amended Application for Replacement of Aging Infrastructure Approved by Virginia State Corporation Commission
Public Company Information:
WASHINGTON--(BUSINESS WIRE)--On November 15, 2012, the Virginia State Corporation Commission issued an Order approving Washington Gas’ amended Steps to Advance Virginia’s Energy (SAVE) Plan. Under the plan, the company will recover approximately $191.4 million in anticipated expenditures for the replacement of facilities over a five-year period beginning January 1, 2013. The previously authorized plan called for expenditures of $116.5 million. The approved plan will also provide additional flexibility which will allow Washington Gas to maximize construction efficiencies and prioritize changing leak conditions in a timely manner.
The Commission’s action expands the scope of Washington Gas’ existing SAVE Plan, enabling the company to enhance the accelerated replacement of aging infrastructure and ensuring safe and reliable service to Washington Gas’ Virginia customers.
Washington Gas projects the total calendar year annual expenditures for the amended SAVE Plan to be $40 million in 2013; $40 million in 2014; $37.1 million in 2015; $37.1 million in 2016 and $37.1 million in 2017.
Headquartered in Washington, D.C., WGL Holdings, Inc. has four operating segments: (i) the regulated utility segment, which primarily consists of Washington Gas Light Company, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail energy-marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity; (iii) the commercial energy systems segment, which consists of Washington Gas Energy Systems, Inc., a provider of energy efficiency solutions to government and commercial clients and (iv) the wholesale energy solutions segment, which consists of Capitol Energy Ventures Corp., a non-utility asset optimization business.
Ruben Rodriguez, 202-624-6620
Douglas Bonawitz, 202-624-6129