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) November 2, 1998
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WASHINGTON GAS LIGHT COMPANY
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(Exact name of registrant as specified in its charter)
District of Columbia and Virginia 1-1483 53-0162882
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1100 H Street, N.W., Washington, D.C. 20080
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (703) 750-4440
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NONE
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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On November 2, 1998, Shenandoah Gas Company (Shenandoah Gas), a
wholly-owned subsidiary of Washington Gas Light Company (company), entered into
an agreement to sell its natural gas utility assets located in West Virginia to
Mountaineer Gas Company (Mountaineer Gas). According to this agreement,
Shenandoah Gas will provide natural gas transportation service through its
pipeline system in Virginia to Mountaineer Gas to assure continued natural gas
service in the Eastern Panhandle of West Virginia.
Shenandoah Gas has approximately 3,600 customers in Martinsburg and
surrounding areas in Berkeley County, West Virginia. Shenandoah Gas will
continue to provide natural gas utility service to its approximately 10,000
customers in the northern Shenandoah Valley of Virginia, including Clarke,
Frederick, Shenandoah and Warren counties and the city of Winchester.
In fiscal year 1998, Shenandoah Gas' natural gas therm deliveries in West
Virginia represented less than two percent of the company's consolidated natural
gas therm deliveries and less than one percent of associated consolidated
revenues. Shenandoah Gas' West Virginia operations contributed approximately
$200,000 (0.3%) to the company's fiscal year 1998 net income applicable to
common stock. This represents less than one-half of one cent of basic and
diluted earnings per average common share for fiscal year 1998. The sale is
expected to generate a non-recurring loss, after applicable income taxes, of
approximately $1.9 million or approximately $.04 per average common share.
The proposed transaction is subject to approval by the Public Service
Commission of West Virginia. The transportation service to be provided by
Shenandoah Gas to Mountaineer Gas is subject to approval by the Federal Energy
Regulatory Commission.
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SIGNATURE
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 thereunto duly authorized.
WASHINGTON GAS LIGHT COMPANY
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(Registrant)
Date November 4, 1998 By
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Robert E. Tuoriniemi
Controller
