Washington Gas announced today that Maryland Governor Martin J. O'Malley
has signed into law a bill that would speed up critical natural gas
infrastructure replacement projects. The Maryland Strategic
Infrastructure Development and Enhancement Program (STRIDE) reduces
costs to utility customers while accelerating upgrades to natural gas
Prior to the signing, 31 states and the District of Columbia adopted
similar programs allowing gas companies to seek approval from regulators
to recover pipeline replacement costs between traditional base rate
cases, which tend to be infrequent and expensive. Today, Maryland has
joined those states and the District, heeding the recommendation from
federal pipeline safety regulators to approve efforts to accelerate and
improve the country's pipeline infrastructure.
"We are excited by Governor O'Malley's signing of the STRIDE bill,
allowing Washington Gas to replace and reinforce our system more
rapidly," said Terry D. McCallister, Chairman and Chief Executive
Officer at WGL Holdings, Inc. and Washington Gas. "Our company is
entrusted with the well-being of the public in areas where our system is
present. Passage of the STRIDE bill allows us to confidently move
forward in fulfilling that charge."
The STRIDE program provides funding for gas pipeline upgrades through a
small surcharge, approved by the Maryland Public Service Commission.
STRIDE will set a $2 per month cap on the surcharge and directs the PSC
to set the rate for commercial and industrial customers. The program
will also reduce costs through less frequent base rate cases and lower
operational expenses in the future.
Headquartered in Washington, D.C., WGL Holdings, Inc. has four operating
segments: (i) the regulated utility segment which primarily
consists of Washington Gas, 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 design-build energy efficiency
solutions to government and commercial clients, commercial solar
projects, and the operations of WGSW, a holding company formed to invest
in alternative energy assets; and (iv) the wholesale energy
solutions segment which consists of Capitol Energy Ventures Corp., an
asset optimization business that acquires, manages and optimizes natural
gas storage and transportation assets.
Additional information about WGL Holdings, Inc. is available on our
Go to washingtongas.com
for more information about Washington Gas Light Company.
Douglas Bonawitz, 202-624-6129
Source: Washington Gas
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