ALTAGAS LTD. AND WGL HOLDINGS, INC. MERGER CONDITIONALLY APPROVED BY THE PUBLIC SERVICE COMMISSION OF THE DISTRICT OF COLUMBIA

Calgary, Alberta (June 28, 2018)

AltaGas Ltd. (AltaGas) (TSX:ALA) and WGL Holdings, Inc. (WGL) (NYSE:WGL) today issued the following statement in response to the oral decision of the Public Service Commission of the District of Columbia (DC PSC) to approve the AltaGas and WGL transaction  (the WGL Acquisition) with certain modifications to the unanimous settlement agreement dated May 8, 2018:   

"We are pleased the DC PSC is prepared to unanimously approve the proposed combination of AltaGas and WGL,” said David Harris, President and Chief Executive Officer of AltaGas. “The Commission indicated the written order will include certain additional conditions, in alignment with the unanimous settlement agreement. AltaGas will review the conditions so we are in a position to meet the Commission’s timeline for acceptance by settling parties within five days, upon which approval of the WGL Acquisition will be final.  We are confident that the combined company will deliver exceptional service at affordable rates to customers in the District, while promoting local employment and job creation in the energy sector and providing more clean energy choices to customers.”

Learn more about the combination at www.wgldeliveringmore.com.

About AltaGas

AltaGas is an energy infrastructure company with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca  

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This news release contains forward-looking statements. When used in this news release, words such as “may”, “would”, “could”, “can”, “will”, “be”, “intend”, “possible”, “plan”, “develop”, “anticipate”, “target’, “believe”, “seek”, “propose”, “continue”, “estimate”, “expect”, and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. This news release contains forward-looking statements with respect to, among other things, anticipated receipt of the Commission’s written order and additional conditions; the expected ability to meet the Commission’s timeline; the expected final approval; the benefits of the WGL Acquisition, including without limitation, the improved ability to deliver exceptional service at affordable rates, and ability to provide local employment and job creation. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas’ current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas’ public disclosure documents. Many factors could cause AltaGas’ actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

ALTAGAS LTD. AND WGL HOLDINGS, INC. STATEMENT ON ADOPTION OF SCHEDULE FOR CONSIDERATION OF UNANIMOUS SETTLEMENT

Today, the Public Service Commission of the District of Columbia (DC PSC) established its schedule to consider the unanimous settlement agreement between all parties in the combination of AltaGas and WGL Holdings, Inc. The DC PSC expects to issue a final decision on the merger the week of June 25, 2018. The settlement, filed on May 8, 2018, will provide approximately $41 million in direct benefits to D.C. residents, businesses and the community.

The DC PSC has scheduled a tentative public interest hearing at 11 a.m. on June 13, 2018, to consider the settlement. The Commission will make a determination on whether a formal hearing will be necessary after receiving testimony from all parties and information it has requested from AltaGas and WGL. The DC PSC also scheduled a community public hearing at 6:30 p.m. on June 13, 2018, to receive input from the public on the settlement agreement. Approval of the merger by the DC PSC is the final outstanding regulatory approval required before the AltaGas and WGL merger can close.

“We appreciate the Commission’s careful and deliberative consideration of the AltaGas and WGL combination, and look forward to the completion of the regulatory process,” said John O’Brien, President AltaGas Services (U.S.) Inc. “Together AltaGas and WGL will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, more clean energy choices for customers, and good, secure jobs right here in D.C.”

Parties to the settlement include the Government of the District of Columbia; the Office of the People’s Counsel; the Laborers’ International Union of North America, its affiliated District Council, and Local Unions serving or located in Washington, D.C. (collectively, LiUNA); Local 2 of the Office and Professional Employees International Union, AFL-CIO; the United States Department of Defense; the National Consumer Law Center/National Housing Trust Housing Association of Nonprofit Developers/Maryland Affordable Housing Coalition (collectively NCLC); and the Apartment and Office Building Association of Metropolitan Washington.

Learn more about the combination of AltaGas and WGL at www.wgldeliveringmore.com.

AltaGas Ltd. and WGL Holdings, Inc. Accept Conditions in the Maryland Public Service Commission Order

Significant Milestone Reached to Bring Cleaner, More Affordable Energy to the Region

On April 6, AltaGas and WGL accepted the conditions set forth by the Maryland Public Service Commission (MD PSC) following a thorough and comprehensive public process that resulted in a f 4 to 1 favorable decision approving the proposed merger of AltaGas and WGL.

The approval of the acquisition by the MD PSC marks another significant milestone in bringing AltaGas and WGL together to deliver long-term value to the region. In addition to the Maryland decision, the Virginia State Corporation Commission has approved the merger and all federal reviews have been completed. The regulatory review of the merger before the District of Columbia Public Service Commission is continuing.   

“AltaGas and WGL accepted the conditions set forth by the MD PSC as they were consistent with the full suite of merger commitments presented during the public process,” said John O’Brien, President, AltaGas Services U.S. “Both AltaGas and WGL bring complementary strengths to the table that will strategically position the combined company for the future, delivering more value for customers in Washington Gas’ service territory and more investment in energy infrastructure and clean energy.”

Following completion of the merger, Maryland customer and community benefits will  include:

  • $30.5 million for a one-time $50 rate credit for Maryland residential heating customers and a rate credit for non-residential customers. In addition, the companies committed that operational savings resulting from the merger will be passed through to customers.
  • 22.8 million to Montgomery and Prince George’s counties for customer, educational, workforce development and energy efficiency programs, with at least 20 percent of such funds directed to benefit low- and moderate-income residents in both single- and multifamily communities.
  • $100 million to expand natural gas infrastructure in the state of Maryland:
    • $70 million over 10 years in the Washington Gas service area (which will be included in the Washington Gas’ rate base, subject to Commission approval).
    • $30.32 million to promote economic development, job creation and the expansion of natural gas infrastructure to underserved parts of Maryland, with a majority of this funding dedicated to the Washington Gas’ service territory.
  • New Renewable Energy Resources developed in Montgomery and Prince George’s counties.
  • AltaGas' U.S. power business head office will be relocated to Prince George’s County.
  • $4 million to further enhance safety.
  • Washington Gas has committed to continue its supplier diversity efforts and has set an aspirational goal to increase its share of non-gas spending with diverse suppliers to 35 percent over the next ten-years.

In the District of Columbia, AltaGas and WGL are continuing to work constructively with the District of Columbia Public Service Commission (DC PSC) and other parties involved in the regulatory proceedings to ensure customers benefit, existing jobs are protected, new jobs are added and support for clean energy is advanced. A final decision from the DC PSC on the combination is expected by mid-2018.

As of April 4, 2018, the combination has received the following approvals:

Shareholders:

  • Approval from WGL Holdings, Inc. shareholders on May 10, 2017.

Federal:

  • Approval from the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of natural gas, electricity and oil, on July 6, 2017;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the Department of Justice; and
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

State:

  • Approval from the Virginia State Corporation Commission on October 20, 2017.
  • Approval from the Maryland Public Service Commission on April 4, 2018.

Approvals Pending:

  • A final decision from the District of Columbia, Public Service Commission on the combination is expected by mid-2018. 

AltaGas Ltd. and WGL Holdings, Inc. Announce Approval of Merger by the Maryland Public Service Commission

Maryland joins Virginia, the Federal Energy Regulatory Commission, WGL shareholders, the Federal Trade Commission, the Department of Justice, and the Committee on Foreign Investment in approving the combination

Calgary, Alberta (April 4, 2018)

AltaGas Ltd. (AltaGas) (TSX:ALA) and WGL Holdings, Inc. (WGL) (NYSE:WGL) are pleased to announce the achievement of positive regulatory approval from the Maryland Public Service Commission (Maryland PSC) to the proposed merger of AltaGas and WGL (the WGL Acquisition). 

The 4:1 favourable decision by the Maryland PSC followed a comprehensive public process and contains a number of conditions. The companies will expeditiously review these conditions, which generally appear to be acceptable and consistent with the full suite of merger commitments offered up by the companies during the public process.

The combination of AltaGas and WGL will bring together high quality, low-risk, long-lived infrastructure assets with a premier North American footprint. The combined entity will have over $20 billion in energy infrastructure assets and an enterprise value over $17 billion. This provides a strong platform for growth with approximately $4.5 billion in secured growth projects and approximately $1.5 billion of additional growth opportunities in advanced stages of development through 2021.

“We are pleased that the Maryland Public Service Commission has approved our acquisition of WGL,” said David Harris, President and Chief Executive Officer of AltaGas. “This marks another major milestone in bringing together AltaGas and WGL to deliver long-term value to customers and shareholders alike as we build a stronger future together.”

“We are confident that our combination with AltaGas will benefit residents, businesses and the economy of Maryland. We appreciate the Commission’s careful consideration of the many positive benefits this merger brings to the state as they evaluated our application,” said Terry D. McCallister, Chairman and CEO of WGL, the parent company of Washington Gas. “Washington Gas will be an even stronger company as part of the AltaGas family and the new resources available as part of this combination will provide benefits for the state for years to come.”

“Since announcing our plan to combine, AltaGas and WGL have worked constructively with regulators, community groups and local leaders to ensure the combination will benefit ratepayers in Maryland,” said John O’Brien, President of AltaGas Services U.S. Inc. “We are confident that the combined company will be in an even stronger position to deliver exceptional service at affordable rates, expand natural gas service across Maryland, invest more in community and workforce training programs, provide more clean energy choices to customers, and add good, secure jobs in Maryland.”

The regulatory review process continues in the District of Columbia. AltaGas and WGL continue to work with the District of Columbia Public Service Commission (DC PSC) and other parties involved in the regulatory proceedings to make sure all customers benefit, existing jobs are protected, new jobs are added, and support for clean energy is advanced. A final decision from the DC PSC on the combination is expected by mid-2018.

Financing to close the WGL Acquisition is fully backstopped with $2.6 billion in proceeds from AltaGas’ bought deal and private placement of subscription receipts, which closed in the first quarter of 2017, and a US $3 billion fully committed bridge facility. With all financing in place to close the WGL Acquisition, AltaGas continues to evaluate and advance an asset monetization strategy in a prudent and timely fashion in step with the regulatory process and consistent with AltaGas' long-term strategic vision.

For more information – see the press releases from AltaGas and WGL.

As of today, the WGL Acquisition has received the following approvals:

Shareholders

  • Approval from WGL shareholders on May 10, 2017.

Federal

  • Approval from the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of natural gas, electricity and oil, on July 6, 2017;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the Department of Justice; and
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

State

  • Approval from the Virginia State Corporation Commission on October 20, 2017;
  • Approval from the Maryland Public Service Commission on April 4, 2018.

 

Maryland Update

On February 28, Maryland’s Prince George’s County Council passed a resolution in support of the combination of AltaGas Ltd. and WGL Holdings, Inc. The resolution recommends that the Maryland Public Service Commission approve the combination as it is in the public interest, meets the convenience and necessity tests, and provides benefits and no harm to Maryland ratepayers. The resolution is a positive development in the regulatory review process, and follows on support by the Maryland Energy Administration, Prince George’s County Executive Rushern Baker, and Montgomery Council Executive Ike Leggett.

On March 1, AltaGas and WGL, parent company of Washington Gas, filed a post-settlement brief, which summarizes evidence presented February 6-9 to the Maryland Public Service Commission during evidentiary hearings that were held to consider the settlement agreement the companies reached in December 2017, with the Maryland Energy Administration (“MEA”), Montgomery County, Prince George’s County, and the Laborers’ International Union of North America, its affiliated District Council, and Local Unions serving or located in Washington D.C. (collectively, LiUNA).

AltaGas and WGL’s brief re-affirms the companies’ position that the settlement enhances the robust package of merger commitments that deliver substantial customer benefits, advance Maryland’s multi-faceted energy policy goals, and ensure Washington Gas’ future success. The positive impacts that would result from the combination have been validated through the numerous and diverse public endorsements that have been received from the public and community leaders, who recognize that this combination presents a unique opportunity for long-term growth in the State of Maryland.

As part of the agreement, AltaGas and WGL have committed $103 million to expand natural gas infrastructure in Maryland.

Washington Gas will invest $70 million of this amount over a 10-year period to further extend natural gas service to unserved and underserved areas by adding to regulated assets within the Washington Gas service territory in Maryland. All such proposals will be developed jointly by AltaGas, Washington Gas and the MEA for the Maryland Public Service Commission’s review and approval. The review and approval process before the Commission will be open to all interested parties.

The remaining $33 million will be used to establish the Maryland Gas Expansion Fund, which will be administered by the MEA to promote economic development, job creation and the expansion of natural gas infrastructure to underserved parts of Maryland.

In addition, the Settlement includes terms to help enhance safety and reliability in the delivery of natural gas and the operation of the distribution grid infrastructure, and provides educational programs and job training that promote energy efficiency.

The combination brings to Maryland a tremendous opportunity to expand clean, natural gas as a preferred heating fuel and decrease Maryland’s reliance on oil and coal-generated power.  By switching homes to natural gas, an average home will reduce its carbon emissions footprint by 50 percent. The combination of more renewables, more efficient gas usage, and more access to cleaner, less expensive home heating options exemplifies what AltaGas brings to Maryland through this combination.

AltaGas and WGL anticipate receiving a final order and decision by April 4 from the Maryland Public Service Commission. 

Additional Background:

The combination has received the following approvals:

Shareholders

  • Approval from WGL Holdings, Inc. shareholders on May 10, 2017.

Federal

  • Approval from the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of natural gas, electricity and oil, on July 6, 2017;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the Department of Justice; and
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

State

  • Approval from the Virginia State Corporation Commission on October 20, 2017.

Approvals Pending

In addition to the Maryland PSC decision in April, the District of Columbia Public Service Commission is expected to issue a decision in the first half of 2018. 

Statement on Maryland Regulatory Schedule

We have received the procedural schedule from the Maryland Public Service Commission to consider the settlement agreement filed in this proceeding, and look forward to continuing the process. 

Since AltaGas and WGL announced their plans to combine, the companies have worked constructively with regulators, community groups and local leaders to ensure Maryland customers have a significant voice and input in the process, and we will continue to do so. The terms of the settlement and the merger represent a tremendous opportunity for Maryland and for Washington Gas’ customers. 

The combination, enhanced by the settlement commitments, will put Washington Gas in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, more clean energy choices to customers, and good, secure jobs right here in the region.

Maryland Public Service Commission Procedural Schedule:

 

BWLDC Urges DC Public Service Commission to Approve the Merger of AltaGas Ltd. and WGL Holdings, Inc.

Reston, VA (December 14, 2017) —The Baltimore Washington Laborers’ District Council (BWLDC), an affiliate of the Laborers' International Union of North America (LIUNA), today urged the DC Public Service Commission (PSC) to support the merger of AltaGas Ltd. and WGL Holdings, Inc. 800 workers employed on Washington Gas pipeline replacement projects are LIUNA members. The DC PSC’s evidentiary hearings on the merger conclude tomorrow, and the PSC must now decide whether to approve it.

“Our members perform 85 percent of Washington Gas’s pipeline replacement work, said David Allison, Baltimore/Washington District Council Business Manager, LIUNA. “They are employed by Washington Gas contractors and are literally in the trenches every day upgrading the system, working to keep it safe and reliable. Their LIUNA membership has afforded them competitive pay and benefits, and we wanted to ensure that the merger incorporated wage and benefit standards for contracted-out workers.” 

In response to LIUNA’s proposal, LIUNA and AltaGas Ltd. have reached an innovative agreement that ensures the skilled, trained men and women of LIUNA will continue to perform accelerated pipeline replacements and repairs across the region.

The LIUNA-AltaGas Ltd. agreement is significant. It is a commitment to union workers that protects hundreds of family-supporting jobs, many of which are held by District residents. Approval of the merger will enable LIUNA to fast-track its recruitment and training of local  residents in gas line replacement work because it will have a stable flow of projects on which to place them.

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The Baltimore Washington Laborers’ District Council, an affiliate of the Laborers’ International Union of North America (LIUNA), represents more than 7,000 LIUNA members who live and work in the Baltimore-Washington region.

Maryland Public Service Commission Delays Decision on AltaGas Ltd. and WGL Holdings, Inc. Combination following Key Settlement

On December 4, 2017 AltaGas Ltd. and WGL Holdings, Inc. announced that it had reached a settlement agreement with the Maryland Energy Administration (MEA), Montgomery County, Prince George’s County, and the Laborers’ International Union of North America, its affiliated District Council, and local Unions serving or located in Washington D.C. (collectively LiUNA) on the terms for the merger of AltaGas and WGL currently before the Maryland Public Service Commission (PSC) for review and approval.

As a result of this positive development, the joint applicants filed a stipulation with the Commission on December 4, 2017 for the Commission to extend the deadline for issuing its order. The Commission approved this request moving the date for a decision by the PSC to on or before April 4, 2018. The Commission has deemed that additional testimony, evidentiary hearings and the opportunity for public comments are needed to fully evaluate the request, and have scheduled a conference on December 19, 2017, to establish a procedural schedule for review of the settlement agreement.

Under the terms of the settlement agreement, AltaGas and WGL have committed $103 million to expand natural gas infrastructure in Maryland. Washington Gas will invest $70 million of this amount over a 10-year period to further extend natural gas service to unserved and underserved areas by adding to regulated assets within Washington Gas’ service territory in Maryland. The remaining $33 million will be used to establish the Maryland Gas Expansion Fund, which will be administered by the MEA to promote economic development, job creation and the expansion of natural gas infrastructure to underserved parts of Maryland.

AltaGas and WGL are confident of the benefits of this proposed combination, as the benefits are based on the strong foundation of providing value for Washington Gas customers in the region. The combined company will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, more clean energy choices to customers, and good, secure jobs right here in the region.

In addition to the natural gas expansion, AltaGas and WGL have made the following commitments in Maryland:

  • Customers will receive a one-time rate credit;
  • Low-income customers will receive assistance with energy efficiency initiatives;
  • More investment in workforce and educational development;
  • Development of renewable energy initiatives to support clean energy goals, including 5 MWs of renewable or other distributed generation in Maryland;
  • Increased commitment to supplier diversity to support local businesses;
  • Increased charitable giving; and.
  • The head office of the AltaGas U.S. power business will be relocated to Prince George’s County, Maryland.

The combination has received the following approvals

Shareholders

  • Approval from WGL Holdings, Inc. shareholders on May 10, 2017.

Federal

  • Approval from the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of natural gas, electricity and oil, on July 6, 2017.
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the Department of Justice.
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

State

  • Approval from the Virginia State Corporation Commission on October 20, 2017.

The regulatory review process continues in the District of Columbia. AltaGas and WGL continue to work constructively with the District of Columbia Public Service Commission (DC PSC) and other parties involved in the regulatory proceedings to make sure all customers benefit, existing jobs are protected, new jobs are added, and support for clean energy is advanced. A final decision from the DC PSC on the combination is expected in the first half of 2018.

For additional resources and background on the combination, visit http://www.wgldeliveringmore.com/

About AltaGas

AltaGas (TSX:ALA) is an energy infrastructure company with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit:  www.altagas.ca

About Washington Gas

Washington Gas Light Company is a regulated natural gas utility providing safe, reliable natural gas service to more than 1.1 million customers in the District of Columbia, Maryland and Virginia. A subsidiary of WGL Holdings, Inc., the company has been providing energy to residential, commercial and industrial customers for 169 years.

About WGL

WGL (NYSE: WGL), headquartered in Washington, D.C., is a leading source for clean, efficient and diverse energy solutions. With activities and assets across the U.S., WGL consists of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL provides options for natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply and efficiency. Our calling as a company is to make energy surprisingly easy for our employees, our community and all our customers. Whether you are a homeowner or renter, small business or multinational corporation, state and local or federal agency, WGL is here to provide Energy Answers. Ask Us. For more information, visit us at  www.wgl.com.

 

D.C. Public Service Commission Evidentiary Hearings Begin for Proposed Combination of AltaGas Ltd. and WGL Holdings Inc.

Following Strong Community Support at Public Hearings and Settlement in Maryland

On December 5, 2017, the Public Service Commission of the District of Columbia begins nine days of evidentiary hearings in the proposed combination of AltaGas Ltd. and WGL Holdings, Inc. Over the course of the hearings, the two leading energy companies will demonstrate how AltaGas will bring an excellent track record of strong financial and operational performance to Washington, D.C.; how together, the companies will be even better positioned to deliver more diverse energy solutions to customers; and how customers and communities will benefit from an array of new investments and commitments.

The PSC proceedings follow four days of community hearings that were held across the District from November 27-30, 2017, where more than 80 percent of the residents, business owners, nonprofit and community leaders who testified spoke positively about the combination.

The beginning of the hearings also follows the December 4, 2017 announcement by AltaGas and WGL that the companies have reached a settlement agreement with the Maryland Energy Administration (MEA), Montgomery County, Prince George’s County, and the Laborers’ International Union of North America, its affiliated District Council, and Local Unions serving or located in Washington D.C. (collectively, LiUNA) on key terms for the merger of the two companies currently before the Maryland Public Service Commission (PSC). If approved by the Maryland PSC, the settlement could result in an additional $21.4 million in benefits for the District of Columbia as AltaGas has committed to provide most favored nation status to the District of Columbia, which ensures the District receives benefits at least as generous as those provided to other jurisdictions.

Since submitting a merger application on April 24, 2017, the companies have filed extensive testimony with the Commission to demonstrate the benefits of combining the two companies. In addition, the companies have responded to thousands of data requests from the PSC and intervenors in the case.

In testimony filed with the D.C. Public Service Commission, AltaGas President and Chief Executive Officer David Harris said:

“We believe the Merger will combine two companies with complementary expertise and skill sets and similar social values characterized by a strong sense of responsibility and commitment to their customers and communities. Both AltaGas and WGL are successful at operating sound utility systems and delivering safe and reliable service to their customers at affordable rates.”

“Both companies believe that a combination of natural gas, renewable technologies, energy storage, and energy efficiency will drive the advanced energy economy, and AltaGas and WGL bring complementary strengths to the table that will strategically position the combined company for that future, creating new opportunities to deliver customer-benefitting infrastructure and technologies and improve workforce development. While AltaGas is already a strong and substantially U.S.-oriented company, we believe that WGL and the Greater Washington, D.C. metropolitan area will be the U.S. platform from which the combined company will drive our future growth.”

WGL Holdings, Chairman and CEO Terry McCallister continued in his testimony:

“[The combination] will result in direct benefits to customers and to the local and regional economy. It will ensure Washington Gas remains focused on safety, reliability, efficiency and customer service, and it will be led by local management. WGL and its stakeholders, through the Merger, will be gaining a partner in serving customers and growing our businesses and the regional economy. The Merger will further the public interest both in the short term and in the long term.”

AltaGas and WGL Holdings are confident of the benefits of this proposed combination, as they are built upon the strong foundation of providing value for Washington Gas customers. The combined company will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, as well as good secure jobs. The combination will better position Washington Gas to deliver more clean energy options to customers and the community in the future. Following regulatory approval, there will be no rate increase as a result of the combination.

Below are some of the ways in which D.C. customers will benefit from the combination:

  • One-time rate credit for all District of Columbia customers totaling $12.25 million — $50 for each residential heating customer.
  • $2.2 million to install energy efficiency improvements in homes of low-income qualified residential customers.
  • $1.5 million to help pay gas bills for Washington Gas low- and moderate-income customers, with at least $260,000 dedicated solely to D.C. customers.
  • $1.2 million in charitable contributions and local community support per year in the Washington, D.C. metropolitan area over the next 10 years, with at least $210,000 in contributions annually to organizations serving D.C. residents.
  • $700,000 to support workforce development and training programs to promote training and job creation in the energy sector.
  • $2.0 million for an affordable multi-family housing natural gas initiative.
  • $2.75 million for a new public safety program.
  • Increase Washington Gas’ supplier diversity commitments over the next 10 years from our current achievement of 25 to 35 percent and publish an annual report on progress to achieving that goal.
  • Fund a $450,000 renewable bio natural gas study within one year of the combination.
  • Invest $7.8 million for a 5 MW Electric Grid Energy Storage or Tier 1 Renewable Resources in the District.

Status of Federal Regulatory Review Process

All required federal approvals are complete, including:

  • Approval from the Federal Energy Regulatory Commission (FERC), on July 6, 2017, an independent agency that regulates the interstate transmission of natural gas, electricity and oil;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the combination was deemed approved by the Federal Trade Commission and the Department of Justice and;
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

Combination Approved in Virginia

The Virginia State Corporation Commission completed its review of the merger application and approved the proposed combination on October 20, 2017.

For additional resources and background on the combination, visit http://www.wgldeliveringmore.com/

About AltaGas

AltaGas (TSX:ALA) is an energy infrastructure company with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca

About Washington Gas

Washington Gas Light Company is a regulated natural gas utility providing safe, reliable natural gas service to more than 1.1 million customers in the District of Columbia, Maryland and Virginia. A subsidiary of WGL Holdings, Inc., the company has been providing energy to residential, commercial and industrial customers for 169 years.

About WGL

WGL (NYSE: WGL), headquartered in Washington, D.C., is a leading source for clean, efficient and diverse energy solutions. With activities and assets across the U.S., WGL consists of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL provides options for natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply and efficiency. Our calling as a company is to make energy surprisingly easy for our employees, our community and all our customers. Whether you are a homeowner or renter, small business or multinational corporation, state and local or federal agency, WGL is here to provide Energy Answers. Ask Us. For more information, visit us at www.wgl.com

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Frequently Asked Questions

AltaGas Ltd. and WGL Holdings, Inc. have entered into a definitive agreement for AltaGas to acquire WGL. Upon closing, the combined company will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, more clean energy choices to customers, and good, secure jobs right here in the region

Q: Why are AltaGas and WGL combining?

A: AltaGas and WGL share a vision for more growth and jobs in the region, more clean energy choices, and continued reliable service. Washington Gas is a proven provider of safe, reliable, affordable natural gas. It will continue to operate as a standalone utility headquartered in Washington, D.C., with the same complement of dedicated employees, while also assisting in the management of AltaGas’ U.S. regulated utilities. AltaGas has a track record of great customer service, a broad geographic reach, expertise in natural gas infrastructure and power generation, and experience building and operating gas, power, wind, hydro and battery storage facilities. Together, AltaGas and WGL will help shape a company committed to offering reliable service at affordable rates to customers in the D.C. area.

Q: What does the transaction mean for Washington Gas’s customers and communities?

A: Following the combination:

  • Customers will experience a seamless transition and continue to receive safe and reliable service provided by the same complement of dedicated Washington Gas employees.
  • Washington Gas’ customer bills will not go up as a result of the combination.
  • Washington Gas facilities, including walk-in offices, will remain in their current locations.
  • More clean energy choices will be available.
  • More investments in the community will be made.
  • Good, secure jobs will be maintained.
  • Washington Gas will continue operating as a standalone utility headquartered in Washington, D.C. with the same complement of dedicated employees, while also providing guidance to AltaGas’ U.S. regulated utilities.

Q. Can customers count on reliable service from the new company?

A: Customers should expect the same high quality service and reliability standards following the combination. Washington Gas will provide the same great service it has provided for 170 years. The combined company will have the ability to grow, create local jobs and continue to provide safe, reliable and affordable energy. AltaGas has a track record of owning and operating high-performing gas distribution utilities. AltaGas’ five utilities perform at high levels of safety and reliability, evidenced by the safety scores and awards they have received, as well as customer satisfaction levels.

Q: Will there be any change to the company structure and Washington Gas employees?

A: The combination will protect Washington Gas and its long tradition of reliable service and commitment to the region by keeping the company locally controlled and managed in the Washington Metropolitan Area. The company will have the same complement of dedicated employees to deliver safe and reliable service. AltaGas intends to retain existing WGL executives to continue managing Washington Gas’ business and, assist in managing AltaGas’ U.S. regulated utility business. No jobs will be lost as a result of the combination, in fact, as the combined company grows, more jobs will be added in the region in the coming years.

Q. What can our community expect from the combination?

A. AltaGas and Washington Gas have a tradition of investing in the communities they serve. The combined company will increase charitable contributions, invest even more in workforce training programs, and help make clean energy more affordable for customers.

Q. What is the combined company’s plan for renewable energy?

A. WGL and AltaGas have a shared vision for more growth and jobs in the advanced energy economy including distributed and renewable energy generation, battery storage and other customer-benefitting energy products. Growing our customer base of clean energy offerings, including natural gas, wind, hydro, solar and battery storage, will remain a focus.

Q. What is the regulatory approval process?

A. On April 24, 2017 AltaGas Ltd. and WGL Holdings, Inc. filed applications seeking regulatory approval from the Public Service Commission of the District of Columbia, the Maryland Public Service Commission and the Virginia State Corporation Commission to combine their operations. To date, the following reviews and approvals have been completed:

  • Approval from the Federal Energy Regulatory Commission (FERC), on July 6, 2017, an independent agency that regulates the interstate transmission of natural gas, electricity and oil;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of  1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the     Department of  Justice;
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017; and
  • The Virginia State Corporation Commission approved the proposed combination on October 20, 2017.

The Maryland Public Service Commission held evidentiary hearings from October 3–16 and is expected to issue its decision in early December 2017. In D.C., Evidentiary Hearings are scheduled from December 5–15 with the final Commission Order expected in the first half of 2018.

Q: Who is AltaGas?

A: AltaGas is a diversified clean energy infrastructure company with well-established natural gas, power and regulated utilities operations in the United States and Canada. With an exceptional record of customer service and a deep knowledge of clean energy, 1,600 employees safely provide energy in three business segments:

Natural Gas – Approximately 2 billion cubic feet transacted per day. Assets include natural gas gathering and processing, natural gas liquids extraction and separation, transmission and logistics, storage and marketing.

Power – 1,688 megawatts (MW) of clean power capacity using natural gas, wind, biomass and hydro assets plus 20 MW of energy storage. AltaGas is well situated to support the shift to cleaner sources of power.

Utilities – Regulated natural gas distribution utilities deliver clean and affordable natural gas to approximately 575,000 customers in Alaska, Michigan and Canada.

Q: Who is WGL?

A: WGL is a diversified energy business that provides natural gas, electricity, green power, carbon reduction and energy services.

Utility – Washington Gas provides natural gas service to more than 1.1 million customers throughout the District of Columbia, Maryland and Virginia.

Midstream – WGL Midstream engages in developing, acquiring, investing in, managing and optimizing natural gas storage and transportation assets.

WGL Energy – WGL Energy Services provides competitive retail energy services, including renewable energy, carbon offsets and more. WGL Energy Systems provides distributed generation and energy efficiency solutions to large commercial and government customers.

Partnering for Growth in DC

We would like your voice at the District of Columbia Public Service Commission Community Hearings on the combination of AltaGas and WGL Holdings.

 Hearing dates:

Monday, November 27, 2017 at 6:30 p.m.
Anacostia Library/Ora Glover Community Room
1800 Good Hope Road, SE
Washington, DC 20020

Tuesday, November 28, 2017 at 6:30 p.m.
Trinity University/O’Connor Auditorium
125 Michigan Avenue, NE
Washington, DC 20017

Wednesday, November 29, 2017 at 10:00 a.m.
Public Service Commission of the District of Columbia
1325 G Street, NW, Suite 800
Washington, DC 20005

Thursday, November 30, 2017 at 6:30 p.m.
Greater Washington Urban League/Pepco Community Room
2901 14th Street NW
Washington, DC 20009

How to get involved:

 To testify at a community hearing, send your name and organization to the Office of the Commission Secretary by 5pm three days before a hearing. If you do not register, the Commission welcomes walk-ins. Here is how you can sign up:

You also are able to send written statements in place of or in addition to testifying. Here is how you submit a letter:

  • Mail or drop off the letter to 1325 G Street Northwest, Suite 800, Washington, DC, 20005
  • You may submit online on the DCPSC website at www.dcpsc.org

Virginia State Corporation Commission Approves Combination of AltaGas and WGL Holdings

Virginia joins FERC, the Federal Trade Commission, the Department of Justice, and CFIUS in approving the combination

Today the Virginia State Corporation Commission (VSCC) approved the combination of AltaGas and WGL Holdings.

AltaGas and WGL Holdings are pleased with the decision made today by the VSCC, which approved the combination subject to conditions supported by AltaGas and WGL. The approval and support of the Virginia State Corporation Commission for the combination is a key milestone in the regulatory approval process for AltaGas and WGL.

AltaGas and WGL are confident of the benefits of this proposed combination, as the benefits are based on the strong foundation of providing value for Washington Gas customers in the region. The combined company will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, as well as good secure jobs. The combination will better position WGL to deliver more clean energy options to customers and the community in the future.

Today’s approval follows the completion of the federal review process. These include;

  • Approval from the Federal Energy Regulatory Commission (FERC), on July 6, 2017, an independent agency that regulates the interstate transmission of natural gas, electricity and oil;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the merger was deemed approved by the Federal Trade Commission and the Department of Justice, and;
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

The regulatory review process continues in Maryland and the District of Columbia. AltaGas and WGL continue to work constructively with the regulatory commissions and the parties involved in the regulatory proceedings in Maryland and the District of Columbia to make sure all consumers benefit, existing jobs are protected, new jobs are added, and our support for clean energy is moved forward. Final decisions are expected on the combination in December in Maryland, and in the first half of 2018 in the District of Columbia.

CEOs of AltaGas Ltd. and WGL Holdings, Inc. testify before Maryland Public Service Commission on benefits to combining the two companies

On October 3, 2017, the CEOs of AltaGas Ltd. and WGL Holdings, Inc., David Harris and Terry McCallister, testified before the Maryland Public Service Commission on the benefits to combining the two companies. 

The Commission held two-and-a-half weeks of evidentiary hearings as part of the ongoing regulatory review process of the proposed combination of the two leading energy companies. The companies demonstrated over the course of the hearings that AltaGas brings an excellent track record of strong financial and operational performance to Maryland, that together the companies will be even better positioned to deliver more diverse energy solutions to customers, and finally, that customers and communities will benefit from an array of new investments and commitments. 

AltaGas is a financially strong, well-managed company with a solid existing base business and a successful track record of growth over the last 23 years. The company’s highly contracted, low-risk business model continues to deliver strong, stable returns to investors and exceptional service to its customers. AltaGas, through its wholly owned subsidiaries, provides utility service to 575,000 customers in the U.S. and Canada, including 450,000 in the U.S.

AltaGas and WGL Holdings are confident of the benefits of this proposed combination, as they are built upon the strong foundation of providing value for Washington Gas customers in Maryland. The combined company will be in an even stronger position to deliver exceptional service at affordable rates, more investment in the community and workforce training programs, as well as good secure jobs. The combination will better position Washington Gas to deliver more clean energy options to customers and the community in the future. Following regulatory approval, there will be no rate increase as a result of the combination.

Here are just some of the ways MD consumers will benefit from the merger:

  • No layoffs are planned as a part of this combination.
  • AltaGas intends to retain existing Washington Gas executives to assist in managing AltaGas’ U.S. regulated utility business.
  • AltaGas will fund $30.5 million for one-time bill credits to be distributed among all Maryland customer classes.
  • AltaGas will provide $4.0 million to develop and fund an Affordable Housing Multifamily Natural Gas Initiative for Maryland.
  • The combined company will enhance our local presence post-Merger with the relocation of the head office of the AltaGas U.S. power business to the Greater Washington, D.C. metropolitan area.
  • AltaGas will protect Washington Gas employees’ pay, benefits, job security, retirement, and pensions.
  • Washington Gas will have the same complement of dedicated employees to deliver safe and reliable service.
  • Customers will experience a seamless transition, with continued, safe and reliable service. 
  • Washington Gas will significantly increase the Washington Area Fuel Fund over the next 5 years, providing emergency utility bill assistance to qualifying low and moderate income customers. 
  • Washington Gas will continue offering assistance to low income customers including weatherization and installation of energy efficient technology.
  • Following regulatory approval, the combined company will significantly increase charitable contributions, invest even more in workforce training programs, and help make clean energy more affordable for our customers.

The companies have filed extensive testimony with the Commission to demonstrate the benefits of combining the two companies.

Below are two excerpts from the testimony of Mr. Harris and Mr. McCallister filed with the Maryland Public Service Commission on April 24, 2017.

From David Harris:

“AltaGas and WGL are committed to the communities where Washington Gas provides service. The combined company intends to enhance our local presence post-Merger with the relocation of the head office of the AltaGas U.S. power business to the Greater Washington, D.C. metropolitan area. The Merger will enhance the combined company’s commitments to the existing community in which Washington Gas operates, and Washington Gas will continue its relationships with its local communities. 

“I am confident that the Merger will strengthen Washington Gas and its continued ability to provide safe and reliable service to its customers. The Merger maintains the value propositions espoused by Washington Gas, its service commitments to customers, and the continued commitment to the communities in which it serves. Washington Gas will continue to provide safe and reliable service to its customers at affordable rates. And AltaGas will ensure that Washington Gas continues to have access to the capital resources needed to invest in the safety and reliability of its system.”

From Terry McCallister:

“For WGL and for the Washington, D.C. region, this Merger brings a new business to the area while retaining existing businesses. The Merger keeps the Washington, D.C. region at the center of WGL’s existing businesses, and retains and supports WGL’s own growth plans.

“WGL’s charitable, community, and local supplier presence will continue in the Washington, D.C. area. AltaGas is committed to continuing and increasing charitable giving in the region. It is dedicated to building on the strong community commitment and presence of WGL, Washington Gas and its employees. It will also continue Washington Gas’ commitment to leadership in growth of supplier diversity efforts.”


Additional Background Information:

Both AltaGas and WGL have a tradition of investing in the communities they serve, and are committed to continuing investments in Maryland. Both companies look forward to working with community groups, local leaders and regulators to make sure the combined company remains committed to offering reliable service at affordable rates. WGL’s customer bills will not go up as a result of the combination.

Status of Regulatory Review Process

All required federal approvals are complete, including:

  • Approval from the Federal Energy Regulatory Commission (FERC), on July 6, 2017, an independent agency that regulates the interstate transmission of natural gas, electricity and oil;
  • Expiration of the waiting period as of July 17, 2017, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), when the combination was deemed approved by the Federal Trade Commission and the Department of Justice and;
  • Approval from the Committee on Foreign Investment in the United States (CFIUS) on July 28, 2017.

Virginia:

  • The staff to the Virginia State Corporation Commission filed a productive report on the proposed combination in August. That report and responses to the report are under consideration by the Virginia Commission, with a decision expected in late October 2017.

Maryland: 

  • Following the evidentiary hearings, the companies and other parties in the case will file briefs with the Commission. The Commission is expected to issue its decision in early December 2017. 

District of Columbia: 

  • The intervenors in the case have filed their initial testimony. AltaGas and WGL will file responses in late October. Hearings in front of the District of Columbia Public Service Commission will occur in December 2017 with a decision expected in the first half of 2018. 

AltaGas and WGL will continue to work constructively with the regulatory commissions in all three jurisdictions within WGL’s service territory to make sure all consumers benefit, existing jobs are protected, new jobs are added, and clean energy is moved forward.

To learn more about the combination, please visit www.WGLdeliveringmore.com

About AltaGas

AltaGas (TSX:ALA) is an energy infrastructure company with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on clean energy sources. For more information visit: www.altagas.ca

About Washington Gas

Washington Gas Light Company is a regulated natural gas utility providing safe, reliable natural gas service to more than 1.1 million customers in the District of Columbia, Maryland and Virginia. A subsidiary of WGL Holdings, Inc., the company has been providing energy to residential, commercial and industrial customers for 169 years.

About WGL

WGL (NYSE: WGL), headquartered in Washington, D.C., is a leading source for clean, efficient and diverse energy solutions. With activities and assets across the U.S., WGL consists of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL provides options for natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply and efficiency. Our calling as a company is to make energy surprisingly easy for our employees, our community and all our customers. Whether you are a homeowner or renter, small business or multinational corporation, state and local or federal agency, WGL is here to provide Energy Answers. Ask Us. For more information, visit us at www.wgl.com

Federal Reviews of AltaGas Ltd. and WGL Holdings, Inc. Merger Are Complete

All required federal reviews of the proposed merger of AltaGas Ltd. and WGL Holdings, Inc. have been completed and clear the way for the companies to combine operations, pending the outcomes of regulatory proceedings in Maryland, Virginia and the District of Columbia.

The Committee on Foreign Investment in the United States (CFIUS) was the final of three federal reviews needed by the companies. After reviewing the details of the merger, CFIUS staff determined that “there are no unresolved national security concerns with respect to the above transaction.” 

On July 6, 2017 AltaGas and WGL received approval from the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of natural gas, electricity and oil.

The third necessary federal approval occurred July 17, 2017, when the merger was deemed approved by the Federal Trade Commission and the Department of Justice upon the expiration of the waiting period required by Section 7A(b)(1) of the Clayton Act, 15 U.S.C. Section 18a(b)(1) (Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended).

Regulatory reviews continue in Maryland, Virginia and the District of Columbia

While the federal reviews are complete, AltaGas and WGL continue to work constructively with the regulatory commissions in Maryland, Virginia and the District of Columbia. Schedules have been agreed to in all three jurisdictions with final decisions expected on the merger in October in Virginia, December in Maryland, and the end of April in the District of Columbia. In Virginia, Virginia State Cooperation Commission (VSCC) staff recommended on August 4, 2017, that the VSCC approve the merger, subject to several accounting, finance and safety-related VSCC requirements.

In Maryland, the Public Service Commission has issued an order scheduling two evening hearings to receive public comment on the proposed merger. The hearings are set for September 26 in Prince George’s County and September 28 in Montgomery County. Seven intervenors in the case in Maryland have submitted their testimonies to the Public Service Commission. AltaGas and WGL are reviewing the testimonies and will file a full response to all parties on September 11, 2017, in accordance with the Maryland Public Service Commission procedures.

Community hearings in the District of Columbia are expected to be scheduled in November.

Background on the Merger

The proposed plan for AltaGas and WGL to combine operations was announced in January 2017 with an expected close date in the second quarter of 2018. The transaction is subject to closing conditions, such as approvals of the Public Service Commission of the District of Columbia, the Maryland Public Service Commission and the Virginia State Corporation Commission, based on filings submitted on April 24, 2017, to each commission.  

WGL shareholders voted to approve the proposed merger in May, and the Boards of Directors of WGL and AltaGas have unanimously approved the transaction.

Under the terms of the transaction, following the consummation of the merger, WGL shareholders will receive US $88.25 in cash per WGL share, representing a premium of 27.9 percent to WGL's closing share price on November 28, 2016, the day prior to news reports of a potential acquisition of WGL by a third party.

The combined company stands to deliver more clean energy choices, more investments in the community, and a commitment to good, secure jobs, as well as affordable prices and best-in-class service.

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AltaGas Ltd. and WGL Holdings, Inc. Receive FERC Approval to Combine Operations

The proposed merger of AltaGas Ltd. and WGL Holdings, Inc. achieved an important regulatory approval on July 6 when the Federal Energy Regulatory Commission (FERC) granted its approval of the merger.  FERC is an independent agency that regulates the interstate transmission of natural gas, electricity and oil.

AltaGas and WGL filed an application with FERC on April 24, 2017, to request authorization for the transaction.  The July 6 FERC order concluded that the proposed transaction is consistent with the public interest and is authorized.

The proposed plan to combine operations was announced in January 2017.  The FERC action is an important step toward completing the transaction, which is expected to close in the second quarter of 2018.  The combined company stands to deliver more clean energy choices, more investments in the community, and a commitment to good, secure jobs, as well as affordable prices and best-in-class service.

As previously announced, WGL shareholders voted to approve the proposed merger in May, and the Boards of Directors of WGL and AltaGas have unanimously approved the transaction.

Under the terms of the transaction, following the consummation of the merger, WGL shareholders will receive US $88.25 in cash per WGL share, representing a premium of 27.9% to WGL's closing share price on November 28, 2016, the day prior to news reports of a potential acquisition of WGL by a third party.

The transaction is subject to other closing conditions, such as approvals of the Public Service Commission of the District of Columbia, the Maryland Public Service Commission and the Virginia State Corporation Commission, based on filings submitted on April 24, 2017, to each commission.  The review of the filings is underway in all three jurisdictions. The companies also have filed their voluntary Joint Notice to the Committee on Foreign Investment in the United States.  In addition, the transaction is subject to the notification and reporting requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

For more information about the proposed merger of AltaGas Ltd. And WGL Holdings Inc., please visit www.wgldeliveringmore.com.

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AltaGas Ltd. And WGL Holdings, Inc. file with Regulatory Commissions in Washington, D.C., Maryland and Virginia to Receive Approval to Combine Operations

The combined company will deliver more for people across the region. More clean energy choices, more investments in the community, a commitment to good, secure jobs—all with affordable prices and best-in-class service.

AltaGas Ltd. and WGL Holdings, Inc. filed applications today seeking regulatory approval by the Public Service Commission of the District of Columbia, the Maryland Public Service Commission and the Virginia State Corporation Commission to combine their operations. The companies announced their plan to combine on January 25, 2017.

AltaGas and WGL have also filed their voluntary Joint Notice to the Committee on Foreign Investments in the United States, and an application with the Federal Energy Regulatory Commission. The transaction is also subject to the notification and reporting requirements under the Hart-Scott-Rodino Act, and other customary closing conditions.

“We have a tremendous opportunity ahead of us to combine two leading companies with a complementary set of energy businesses to deliver value to customers at affordable prices,” said David Harris, President and CEO of AltaGas. “Together we will deliver cleaner energy choices, increased investment in the community and good secure jobs for people living and working in the region.”

“WGL is proud of its 170-year record of providing superior service to the region,” said Terry McCallister, Chairman and CEO of WGL. “We’re excited to join with AltaGas because this combination will deliver even more value to our customers, while keeping rates affordable, and promoting job creation and cleaner energy choices.”

Links to the filed applications can be viewed at: