UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 8, 2002
| Commission File Number | Exact name of registrant as specified in its charter and principal office address and telephone number | State of Incorporation | I.R.S. Employer I.D. Number | |||
| 1-16163 | WGL Holdings, Inc. | Virginia | 52-2210912 | |||
| 1100 H Street, N.W. | ||||||
| Washington, D.C. 20080 | ||||||
| (703) 750-2000 | ||||||
| 1-1483 | Washington Gas Light Company | District of Columbia | 53-0162882 | |||
| 1100 H Street, N.W. | and Virginia | |||||
| Washington, D.C. 20080 | ||||||
| (703) 750-4440 | ||||||
Former name or former address, if changed since last report: None
ITEM 5. OTHER EVENTS
On March 21, 2001, the Public Service Commission of the District of Columbia (PSC of DC) issued an Order granting the Office of People’s Counsel’s (OPC) request to initiate an investigation into the reasonableness of the base rates of Washington Gas Light Company (Washington Gas or the Company), the regulated utility subsidiary of WGL Holdings, Inc.
As previously reported, on June 19, 2001, Washington Gas filed an application with the PSC of DC to increase its rates in the District of Columbia. The request seeks to increase overall annual revenues in the District of Columbia by approximately $16.3 million, or 6.8 percent, based on a proposed return on equity of 12.25 percent. Revenue from District of Columbia operations represents approximately 20% of total utility revenue for Washington Gas.
On March 8, 2002, the OPC filed Direct Testimony, in which it recommends that the PSC of DC order the Company to reduce rates in the District of Columbia by $12.0 million, or 5.0 percent. The OPC’s recommendation is premised on a 9.75 percent return on common equity. The OPC also proposes an immediate one-time refund of an estimated $9 million projected liability, which would otherwise be refunded through future rates, associated with Pensions and Other Postretirement Benefits.
Other parties that filed Direct Testimony in this case, include the Apartment and Office Building Association of Metropolitan Washington (AOBA), the Washington Metropolitan Area Transit Authority (WMATA), and the District of Columbia Office of Energy.
Washington Gas is reviewing the Direct Testimony filed by all parties in the case. The Company expects to file rebuttal testimony no later than April 15, 2002.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| WGL Holdings, Inc. and Washington Gas Light Company (Registrants) | ||
| Date March 11, 2002 | /s/ Mark P. O’Flynn Mark P. O’Flynn Controller (Principal Accounting Officer) |
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