OUR VISION WGL Holdings is the preferred source of clean and efficient energy solutions that produce value for our customers, investors and communities. wgl.com / 3
WGL HOLDINGS, INC. Washington Gas WGL Energy Systems (Regulated Utility) (Commercial Energy Systems) WGL Midstream WGL Energy Services (Midstream Energy Services) (Retail Energy Marketing) wgl.com / 4
2015 PRIORITIES Increase utility meter growth (single family/conversions/multifamily) UTILITY Implement and expand accelerated pipe replacement programs Drive return to historical level of earnings RETAIL MARKETING Leverage…
DIVIDEND GROWTH Announced 0.09 increase in our ANNUALIZED DIVIDENDS dividend to an annual rate of 1.85 per share 2.00 1.85 1.75 We continue to target 5% annual 1.50 dividend growth 1.25 1.00 0.75 0.50 0.25 0.00 1977…
CAPITAL INVESTMENT CAPITAL INVESTMENT (MILLIONS) 900M Gathering System = Regulated SAVE/STRIDE 42M 80M Option Dist Gen 100M VA Reserves 126M 600M SAVE/STRIDE 33M SAVE/STRIDE 18M SAVE/STRIDE 11M Dist Gen 100M Pipelines 358M…
WASHINGTON GAS: CUSTOMER GROWTH Washington Gas continues to PROJECTED METER* GROWTH capture over 90% of new single- * or meter equivalent, for revenue modeling purposes family residential market +2.4% 1,250,000 +2.2% +1.9% New tariffs…
WASHINGTON GAS: VIRGINIA GAS RESERVES Virginia law allows local distribution companies to invest in gas reserves to Clearfield County realize longer term cost or reliability (3 Wells) benefits for customers Provides additional…
WASHINGTON GAS: VIRGINIA GAS RESERVES Partner: PROJECTED EBIT 2016 - 2035 Energy Corporation of America (ECA) 16M ECA is well respected operator in the region and operates 4,600 wells 14M 12M Production/operations managed by ECA 10M…
WASHINGTON GAS: UTILITY CAPITAL INVESTMENT UTILITY CAPITAL INVESTMENT with VA SAVE and MD STRIDE filings, VA Gas Reserves 600M = Timely Earnings Potential 500M VA Reserves 126M 400M MD 3M VA/MD 33M VA/MD 42M VA/MD 18M CIS…
WASHINGTON GAS: UTILITY RATE BASE GROWTH PROJECTED RATE BASE GROWTH Normal Other Utility 4.0B VA Gas New Replacements 0.3B Accelerated SAVE/STRIDE 0.3B Reserves Replacements 0.1B 0.1B New 0.6B 3.0B Business 0.7B Depreciation…
WASHINGTON GAS: REGULATORY UPDATE Filed to expand Virginia SAVE program - 75M Virginia Filed Virginia Gas Reserves proposal - 126M System expansion law (contribution) Filed to expand Maryland STRIDE program - 31M Maryland…
WASHINGTON GAS: REGULATORY TIMELINE VA SAVE: 191M through Dec 2017 Jan 2013 VA SAVE: Additional 75M through Dec 2017 VA SAVE amended plan Feb 2015 VA SAVE amended plan filed VA Gas Reserves: 126 Million Investment May 2015 MD…
WASHINGTON GAS: ASSET OPTIMIZATION Revenues shared with customers ASSET OPTIMIZATION REVENUES on an approximate 60/40 basis pursuant to mechanisms approved 80M 77M by each of our Commissions 70M 61M Benefit to customers over the 60M…
NON-UTILITY BUSINESSES OPERATING SEGMENT MARKET PRESENCE RETAIL ENERGY MARKETING COMMERCIAL ENERGY SYSTEMS MIDSTREAM ENERGY SERVICES wgl.com / 17
RETAIL ENERGY: OVERVIEW WGL Energy Services is recognized as a Quick Facts: leader in the Mid-Atlantic retail supply 300,000 customers in District market, particularly with respect to green of Columbia, Maryland, Virginia, energy…
RETAIL ENERGY: FUTURE Source of market intelligence ADJUSTED EBIT FY12 FY19E Innovation platform (As of March 18, 2015) 100M Strong cash flow and low capital investment 75M Integral part of comprehensive solution offered to customers…
COMMERCIAL SYSTEMS: OVERVIEW WGL Energy Systems owns and operates Quick Facts: distributed generation assets such as solar Activities in 16 different states PV systems, combined heat and power and the District of Columbia plants, and…
COMMERCIAL SYSTEMS: FUTURE Predictable earnings stream from clean ADJUSTED EBIT FY14 FY19E and efficient energy solutions (As of March 18, 2015) Earnings increasingly independent of 100M tax incentives Invest 550M in assets over next…
MIDSTREAM: OVERVIEW WGL Midstream engages in developing, Quick Facts: acquiring, managing and optimizing natural 30 Bcf of low cost storage gas storage and transportation assets Customers and counterparties include producers, utilities,…
MIDSTREAM: INVESTMENTS Iroquois Tennessee 2013 Millennium Constitution (10%) Transco 2014 Central Penn Gathering System (21%) (30% Option) 79M investment in Constitution (Williams) 412M investment in Central Penn…
MIDSTREAM: FUTURE Investments in attractive and stable ADJUSTED EBIT FY14 FY19E pipeline projects with predictable earnings 100M FY16 FY19 updated to include Plans to add additional low cost storage Mountain Valley Pipeline Will use…
REGULATORY MATRIX DC MD VA Surcharge recovery of accelerated investment costs Carrying costs on gas storage balances Carrying costs on over/undercollected gas costs --- Gas cost uncollectibles Bill Normalization (RNA/WNA) ---…
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