EXHIBIT 99.1 WASHINGTON GAS LIGHT COMPANY AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends Twelve Months Ended December 31, 1996 (Unaudited) (Dollars in Thousands) FIXED CHARGES AND PRE-TAX PREFERRED STOCK DIVIDENDS: Interest Expense .............................................. $ 31,187 Amortization of Debt Premium, Discount and Expense ............ 276 Interest Component of Rentals ................................. 64 --------- Total Fixed Charges ......................................... 31,527 Pre-tax Preferred Dividends ................................... 2,115 --------- Total ................................................... $ 33,642 ========= Preferred Dividends ........................................... $ 1,332 Effective Income Tax Rate ..................................... .3703 Complement of Effective Income Tax Rate (1 - Tax Rate) .............................................. .6297 Pre-Tax Preferred Dividends ................................... $ 2,115 ========= EARNINGS: Net Income .................................................... $ 80,674 Add: Income Taxes Applicable to Operating Income ................. 47,574 Income Taxes Applicable to Other Income (Loss) - Net ........ (132) Total Fixed Charges ......................................... 31,527 --------- Total Earnings ................................................ $ 159,643 ========= Ratio of Earnings to Fixed Charges and Preferred Stock Dividends ............................... 4.7 =========