The improvement in both the three and nine months ended June 30, 2012 for non-GAAP operating earnings reflect higher revenues from the implementation of new rates in Virginia and Maryland, an increase in average active customer meters and lower interest expense, partially offset by: (i) unfavorable effects of changes in natural gas consumption patterns in the District of Columbia; (ii) higher operation and maintenance expenses and (iii) higher depreciation expense due to the growth in our investment in utility plant. For the nine month period, favorable variances were also partially offset by lower realized margins associated with our asset optimization program and higher income tax expense due to an increase in the effective tax rate.Retail Energy-Marketing Segment
WGL Holdings, Inc. Reports Third Quarter Fiscal Year 2012 Financial Results; Affirms Fiscal Year 2012 Non-GAAP Guidance
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