Category Archives: WGL Holdings Inc

WGL Holdings – Business Description

WGL Holdings is the parent company of Washington Gas Light, a natural gas utility that serves customers in Washington District of Columbia, Maryland and Virginia. It also owns energy marketing, heating, and air conditioning and ventilation businesses. The company has four main operating subsidiary companies: Washington Gas Light Company, Hampshire Gas Company, Washington Gas Resources and Crab Run Gas Company.

WGL Holdings operates in three segments: regulated utility; retail energy-marketing; and commercial heating, ventilating and air conditioning (HVAC) products and services.

Washington Gas Resources owns most of WGL Holdings’ unregulated subsidiaries.The subsidiaries of Washington Gas Resources include Washington Gas Energy Services, Washington Gas Energy Systems, and Washington Gas Credit Corporation. WGEServices is engaged in the sale of natural gas and electricity to retail customers. WGESystems is a provider of commercial energy services. Credit Corporation offers financing to customers to purchase gas appliances and other energy-related equipment. This business no longer offers new loans, but continues to service its existing loan portfolio. Crab Run is an exploration and production company whose assets are managed by an Oklahoma-based limited partnership, in which it is a limited partner.

The 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 unregulated third-party marketers. Hampshire operates an underground natural gas storage facility that provides services to Washington Gas.

The retail energy-marketing segment includes the operations of WGEServices. WGEServices sells natural gas and electricity directly to residential, commercial and industrial customers.WGEServices purchases natural gas and electricity for resale and does not own or operate any natural gas or electric generation, production, transmission or distribution assets. Washington Gas delivers most of the natural gas sold by WGEServices. Unaffiliated electric utilities deliver all of the electricity sold by WGEServices.

The commercial heating ventilating and air conditioning (HVAC) segment includes the operations of WGESystems, which manages design-build and renovation projects, and provides maintenance services to the commercial and government markets. WGESystems provides commercial energy services, including the design, construction and renovation of mechanical HVAC systems, electrical distribution systems, control and security systems, energy conservation measures and alternative energy technologies. WGESystems focuses on retrofitting the mechanical, electrical and energy-related systems of a number of aging commercial and government structures, primarily in the District of Columbia, and portions of Maryland and Virginia.

WGL Holdings – History

WGL Holdings’ primary subsidiary is the Washington Gas Light Company.This group was originally incorporated by an Act of Congress in 1848, and has been engaged in the gas distribution business for over 150 years. It became a domestic corporation of the Commonwealth of Virginia in 1953 and a corporation of the District of Columbia four years later in 1957.

During 2000, Washington Gas merged its former wholly-owned gas distribution subsidiary, Shenandoah Gas Company into itself. In the same year, WGL Holdings, became the parent company of Washington Gas Light Company and other subsidiaries that operated under Washington Gas prior to this restructuring.

WGL Holdings announced in 2001 that it was scaling back its consumer finance business. The company decided to stop accepting loan applications as of the close of business in September 2001, and it limited its financing operations to the servicing of existing loans. Reduced staffing levels were retained to support these limited operations.

WGL Holdings announced that its principal subsidiary, Washington Gas Light Company, had received a payment of $14.8 million from a weather insurance policy purchased to reduce the impact of warm weather on financial results in 2002.

The company sold its interest in two buildings at Maritime Plaza, a commercial development project in Southeast Washington, District of Columbia in 2004.

In 2005, the company’s wholly-owned subsidiary Washington Gas Light Company announced that it intended to take repair gas services lines and gas mains that were leaking in the Prince George’s County of Maryland. Washington Gas Light Company outlined its estimated $87 million project for the upgrade of the gas service infrastructure of Prince George’s County in 2005. The company projected to complete the upgrades by 2007.

Milestone Capital Partners and John and Tim Kirlin acquired American Combustion Industries from WGL Holdings, in 2006. In August of the same year, Frederic M. Kline, Vice President and Chief Financial Officer of the company resigned from his position.

In July 2007, the company’s wholly owned subsidiary, Washington Gas Light reached a settlement agreement in its pending Virginia rate increase proceeding.

WGL Holdings – Key Employees


Job Title


James H DeGraffenreidt

Chairman and Chief Executive Officer

Executive Board

Michael D Barnes


Non Executive Board

George P Clancy


Non Executive Board

James W Dyke


Non Executive Board

Melvyn J Estrin


Non Executive Board

James F Lafond


Non Executive Board

Debra L Lee


Non Executive Board

Karen Hastie Williams


Non Executive Board

Terry D McCallister

President and Chief Operating Officer

Senior Management

Vincent L Ammann

Vice President and Chief Financial Officer

Senior Management

Beverly J Burke

Vice President and General Counsel

Senior Management

Elizabeth M Arnold

Vice President, Strategy

Senior Management

Gautam Chandra

Vice President, Business Process Outsourcing and Non-Utility Operations

Senior Management

Shelley C Jennings


Senior Management

Douglas V Pope

Secretary and Corporate Governance Officer

Senior Management

Mark P O’Flynn


Senior Management

WGL Holdings – Key Facts

Head Office

WGL Holdings, Inc.

101 Constitution Avenue North West


District of Columbia 20080



1 703 750 2000


1 202 624 6277

Web Address

Revenue / turnover (USD Mn)


Financial Year End




New York Stock Exchange Ticker


WGL Holdings – Company Overview

WGL Holdings is a utility holding company that delivers gas and electricity to customers through its subsidiaries. The company through its subsidiaries markets and sells natural gas, and provides a variety of energy related products and services to the customers in District of Columbia, Maryland and Virginia.The company is headquartered in Washington, District of Columbia and employs about 1,800 people.

The company recorded revenues of $2,637.9 million during the fiscal year ended September 2006, an increase of 21.9% over 2005. The operating profit of the company was $202.4 million during fiscal year 2006, a decrease of 4.2% over 2005. The net profit was $87.6 million in fiscal year 2006, a decrease of 15.4% as compared to 2005.