WGL Retail Supplier Reports Higher Margins, EBIT

WGL Holdings' retail energy marketing segment reported higher adjusted EBIT for the quarter ending December 31, 2014, on higher margins

For the quarter ended December 31, 2014, WGL Holdings' retail energy marketing segment reported adjusted EBIT of $9.0 million, an increase of $7.6 million over adjusted EBIT of $1.4 million for the same quarter of the prior fiscal year.

This improvement in adjusted EBIT primarily reflects higher electricity margins due to lower capacity and ancillary service charges from the regional power grid operator (PJM). Partially offsetting this favorable variance were lower natural gas margins.

WGL Energy Services was serving 310,000 customers as of December 31, 2014, versus 318,700 customers as of September 30, 2014 and 357,000 a year ago.

The net loss of 8,700 customers from September 30, 2014 to December 31, 2014 is an improvement over the net loss of 12,200 customers from June 30, 2014 to September 30, 2014.

WGL Energy Services had 156,600 electric customers and 153,400 natural gas customers as of December 31, 2014.

WGL Energy Services electric sales for the three months ending December 31, 2014 were 2,668 GWh. WGL Energy Services natural gas sales for the three months ending December 31, 2014 were 201 million therms.