WASHINGTON--(BUSINESS WIRE)--Washington Gas, a subsidiary of WGL Holdings, Inc. (NYSE: WGL), has announced that it will build the infrastructure to bring natural gas service to the town of Glen Echo, Md. This project, initiated in cooperation with Glen Echo town officials, will provide access to clean and efficient natural gas to an estimated 75% of the town's residents seeking relief from increasing oil and electric heating prices.
"We are very pleased to be working with Glen Echo to provide its residents with natural gas," said Melissa Adams, Division Head of Sustainability and Business Development at Washington Gas. "For heating, cooking and other purposes, natural gas is the fuel of choice. It is an efficient and environmentally responsible option that provides both the potential for cost savings as well as a smaller carbon footprint."
The project will include the installation of a main gas line as well as service to approximately 73 homes. Glen Echo residents have spent thirty years expressing interest in natural gas service. Prior to this agreement, their only heating and cooking options were electricity, propane and oil.
Washington Gas will meet with Glen Echo officials to discuss a construction schedule. The company will install gas service and meters to homes within one year of the gas main installation, which is estimated to take about three months.
About WGL Holdings, Inc.
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 website, www.wglholdings.com.
This news release and other statements by us include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the outlook for earnings, revenues and other future financial business performance or strategies and expectations. Forward-looking statements are typically identified by words such as, but not limited to, “estimates,” “expects,” “anticipates,” “intends,” “believes,” “plans,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” and “could.” Although we believe such forward-looking statements are based on reasonable assumptions, we cannot give assurance that every objective will be achieved. Forward-looking statements speak only as of today, and we assume no duty to update them. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, general economic conditions and the factors discussed under the “Risk Factors” heading in our most recent annual report on Form 10-K and other documents we have filed with, or furnished to, the U.S. Securities and Exchange Commission.