Exhibit 99.1

WGL Holdings, Inc. Reports Record Operating Earnings for Fiscal Year 2014;

Issues Fiscal Year 2015 Guidance

Consolidated Results

WGL Holdings, Inc. (WGL), the parent company of Washington Gas Light Company (Washington Gas) and other energy-related subsidiaries, today reported net income determined in accordance with generally accepted accounting principles in the United States of America (GAAP) for the fiscal year ended September 30, 2014, of $105.9 million, or $2.05 per share, compared to net income of $80.3 million, or $1.55 per share, reported for the fiscal year ended September 30, 2013. For the quarter ended September 30, 2014, we reported net income determined in accordance with GAAP of $38.0 million, or $0.74 per share, compared to a net loss of $(51.6) million, or $(1.00) per share, reported for the same quarter of the prior fiscal year.

Financial performance is also evaluated based on non-GAAP operating earnings (loss). Non-GAAP operating earnings (loss) adjusts for the effects of applying GAAP to certain transactions or classes of transactions that are not representative of the on-going operating earnings of the company. Refer to “Use of Non-GAAP Operating Earnings (Loss)” and supporting reconciliations attached to this news release for a detailed discussion of management’s use of non-GAAP operating earnings, as well as reconciliations of net income determined in accordance with GAAP to non-GAAP operating earnings (loss) for both our consolidated and segment results.

For the fiscal year ended September 30, 2014, non-GAAP operating earnings were $139.0 million, or $2.68 per share, an increase of $19.2 million, or $0.37 per share, over non-GAAP operating earnings of $119.8 million, or $2.31 per share, for the prior fiscal year. This year’s non-GAAP operating earnings are the highest level achieved in WGL’s history and represent a 6% and 16% compound average growth rate from fiscal years 2011 and 2013, respectively. For the fourth quarter of fiscal year 2014, our non-GAAP operating loss was $(8.8) million, or $(0.17) per share, compared to a non-GAAP operating loss of $(28.2) million, or $(0.55) per share, for the same quarter of the prior fiscal year.

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“I am pleased to announce record non-GAAP earnings in 2014 for WGL Holdings, ” said Terry D. McCallister, Chairman and Chief Executive Officer. “Our $2.68 per share earnings is a 16% improvement over 2013 and keeps us on track to accomplish our goal of generating long-term earnings growth of 5% to 7% for our shareholders.”

“We also saw record earnings from our utility segment, which were driven by revenue increases from rate cases, accelerated pipe replacement programs, asset optimization and customer additions. We experienced the highest number of new customer additions since 2007. Our full year non-utility results were down from the previous year reflecting cost increases in our electric retail energy-marketing business, but earnings increased in this business in the fourth quarter compared to 2013 as costs in the PJM electricity market moderated as expected. Our Midstream Energy Services unit delivered robust earnings growth as we took advantage of our storage and transportation assets, and our Commercial Energy Systems business achieved their goal of contributing consistent earnings growth through our continued investments in clean energy assets.”

“Finally, we are announcing 2015 EPS guidance in a range of $2.70 to $2.90. This level of earnings in 2015 is within our forecasted earnings growth path as we continue to execute on our strategic plans to provide exceptional value for our shareholders.”

Fiscal Year and Fourth Quarter Results by Business Segment

Regulated Utility Segment

For the quarter ended September 30, 2014, our regulated utility segment reported net income of $10.1 million, or $0.20 per share, compared to a net loss of $(39.7) million, or $(0.77) per share, reported for the fourth quarter of the prior fiscal year. After adjustments, the non-GAAP operating loss for the regulated utility segment was $(14.8) million, or $(0.29) per share, for the quarter ended September 30, 2014, compared to a non-GAAP operating loss of $(22.2) million, or $(0.43) per share, for the same quarter of the prior fiscal year and reflect the typical seasonal loss in this segment.

For the fiscal year ended September 30, 2014, our regulated utility segment reported net income of $98.0 million, or $1.89 per share, compared to net income of $71.8 million, or $1.39 per share, for the prior fiscal year. After adjustments, non-GAAP operating earnings for the regulated utility segment were $129.3 million, or $2.50 per share, for the fiscal year ended September 30, 2014, an increase of $29.5 million, or $0.57 per share, over non-GAAP operating earnings of $99.8 million, or $1.93 per share, for the prior fiscal year.

The quarter-over-quarter and year-over-year change in non-GAAP operating earnings reflect higher revenue from customer growth; an increase in realized margins associated with our asset optimization program; rate recovery related to accelerated pipeline replacement programs; lower operation and maintenance expenses and a decrease in the effective tax rate. The year-over-year comparisons also reflect favorable effects of changes in natural gas consumption patterns and higher revenues from new base rates in the District of Columbia and Maryland. Partially offsetting these favorable variances were higher depreciation expenses due to the growth in our investment in utility plant.

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Retail Energy-Marketing Segment

For the quarter ended September 30, 2014, the retail energy-marketing segment reported net income of $4.8 million, or $0.09 per share, compared to net income of $2.5 million, or $0.05 per share, reported for the same quarter of the prior fiscal year. Non-GAAP operating earnings for the retail energy-marketing segment were $6.9 million, or $0.13 per share, for the quarter ended September 30, 2014, an increase of $6.3 million, or $0.12 per share, over non-GAAP operating earnings of $0.6 million, or $0.01 per share, for the same quarter of the prior fiscal year. The quarter comparison of non-GAAP operating earnings reflect higher realized electric unit margins due to lower capacity and ancillary service charges from the regional power grid operator (PJM). Operating expenses for the quarter were lower primarily due to a decrease in customer acquisition costs.

For the fiscal year ended September 30, 2014, the retail energy-marketing segment reported net income of $8.2 million, or $0.16 per share, compared to net income of $33.0 million, or $0.64 per share, reported for the prior fiscal year. Non-GAAP operating earnings for the retail energy-marketing segment were $6.1 million, or $0.12 per share, for the fiscal year ended September 30, 2014, compared to non-GAAP operating earnings of $30.4 million, or $0.59 per share, for the prior fiscal year. The fiscal year comparison of non-GAAP operating earnings reflects lower electricity margins due to higher capacity and ancillary service charges from PJM. This was partially offset by natural gas margins which increased due to higher spot sales to interruptible customers, hedge settlements and portfolio optimization activity. Operating expenses decreased year-over-year due to lower customer acquisition, billing and customer service costs.

Commercial Energy Systems Segment

For the quarter ended September 30, 2014, the commercial energy systems segment reported net income of $0.3 million, or $0.01 per share, compared to net income of $1.1 million, or $0.02 per share, for the same quarter of the prior fiscal year. Non-GAAP operating earnings for the commercial energy systems segment is $2.9 million, or $0.06 per share, an increase of $1.8 million, or $0.04 per share, over operating earnings of $1.1 million, or $0.02 per share, for the same period of the prior fiscal year. For the fiscal year ended September 30, 2014, the commercial energy systems segment reported net income of $5.4 million, or $0.10 per share, over net income of $3.0 million, or $0.06 per share, for the same period of the prior fiscal year. Non-GAAP operating earnings for the commercial energy systems segment is $8.0 million, or $0.15 per share, an increase of $5.0 million, or $0.09 per share, over operating earnings of $3.0 million, or $0.06 per share, for the same period of the prior fiscal year.

The quarter-over-quarter and year-over-year comparisons of non-GAAP operating earnings primarily reflect a growth in distributed generation assets in service and producing income.

Midstream Energy Services Segment

For the quarter ended September 30, 2014, the midstream energy services segment reported net income of $24.7 million, or $0.48 per share, compared to a net loss of $(11.8) million, or $(0.23) per share, for the same period of the prior fiscal year. Non-GAAP operating losses for the quarter were $(1.9) million, or $(0.04) per share, compared to an operating loss of $(3.9) million, or $(0.07) per share, for the same period of the prior fiscal year. The quarter comparison of non-GAAP operating losses reflects the initial costs associated with the Constitution Pipeline investment recognized in the fourth quarter of the prior year that were not incurred in the current period partially offset by lower asset optimization margins in the current period.

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For the fiscal year ended September 30, 2014, the midstream energy services segment reported record net income of $6.2 million, or $0.12 per share, compared to a net loss of $(18.8) million, or $(0.36) per share, for the same period of the prior fiscal year. Midstream energy services had record non-GAAP operating earnings of $3.9 million, or $0.08 per share, an increase of $9.2 million, or $0.18 per share, over an operating loss of $(5.3) million, or $(0.10) per share, for the same period of the prior fiscal year. The year-over-year non-GAAP comparison reflects higher realized margins on physical and financial transactions.

Other Activities

For the quarter ended September 30, 2014, other activities reported a net loss of $(1.8) million compared to a net loss of $(2.9) million for the same quarter of the prior fiscal year. The non-GAAP operating loss for other activities were $(1.8) million, or $(0.03) per share, compared to a non-GAAP loss of $(2.9) million, or $(0.06) per share, for the same period of the prior fiscal year.

For the fiscal year ended September 30, 2014, other activities reported a net loss of $(12.3) million, or $(0.23) per share, compared to a net loss of $(7.9) million, or $(0.16) per share, for the prior fiscal year. Other activities reported non-GAAP operating losses of $(8.7) million, or $(0.18) per share, compared to a non-GAAP operating loss of $(7.3) million, or $(0.15) per share, for the same period of the prior fiscal year. The non-GAAP comparisons for both the quarter and year-to-date reflect business development costs, legal expenses and our corporate branding initiative costs.

Earnings Outlook

We are providing a consolidated earnings estimate for fiscal year 2015 based on non-GAAP operating earnings in a range of $2.70 per share to $2.90 per share. The midpoint of this consolidated operating earnings estimate represents a 6.0% and 5.0% estimated compound average growth rate between 2011 and 2014, respectively. This estimate includes projected fiscal year 2015 non-GAAP Earnings Before Interest and Taxes (EBIT) from our regulated utility segment with a midpoint of $225.0 million and projected fiscal year 2015 non-GAAP EBIT from our non-utility business segments with a midpoint of $50.0 million. In providing fiscal year 2015 earnings guidance, management is aware that there could be differences between what is reported earnings and estimated earnings for matters such as, but not limited to, unrealized mark-to-market positions for our energy-related derivatives. As such, WGL management is not able to reasonably estimate the aggregate impact of these items on reported earnings and therefore is not able to provide a corresponding GAAP equivalent for its operating earnings guidance.

We assume no obligation to update this guidance. The absence of any statement by us in the future should not be presumed to represent an affirmation of this earnings guidance. For the assumptions underlying this guidance, please refer to the slides accompanying our webcast that will be posted to WGL’s website, www.wglholdings.com.

Other Information

We will hold a conference call at 10:30 a.m. Eastern Time on November 13, 2014, to discuss our fourth quarter and fiscal year 2014 financial results. The live conference call will be available to the public via a link located on WGL’s website, www.wglholdings.com.

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To hear the live webcast, click on the “Webcast” link located on the home page of the referenced site. The webcast and related slides will be archived on WGL’s website through December 12, 2014.

Headquartered in Washington, D.C., WGL [NYSE: WGL] is a leading source for clean and efficient energy solutions. Through our affiliates and strategic relationships, WGL offers a diverse set of energy sources including natural gas, wind, and solar as well as a range of energy solutions – generation, storage, transportation, distribution, supply, and efficiency – which serve customers in more than 30 states. WGL has five main operating units: Washington Gas Light Company, a regulated natural gas utility serving approximately 1.1 million customers in the metropolitan Washington, D.C. area; Washington Gas Energy Services, Inc., one of the largest natural gas, electricity and green energy suppliers in the Mid-Atlantic; Washington Gas Energy Systems, Inc., a distributed generation and energy efficiency business, offering solar, fuel cell, combined heat and power, and other technologies across the United States; WGL Midstream, a midstream energy services business, investing in and optimizing natural gas pipelines and storage facilities in the Midwest and Eastern United States; and Hampshire Gas, a natural gas storage business which owns and operates facilities in and around Hampshire County, West Virginia. As product and service innovation are critical for value creation and sustaining growth, we are continuously increasing our assets and investments in targeted clean energy sectors. This strategy supports WGL’s core business, as well as provides opportunity for growth through partnerships and investments. WGL’s diversity is its strength. We are dedicated to the sustainability of our business, the customers and communities we serve, and the environment. To learn more, visit www.wglholdings.com.

Unless otherwise noted, earnings per share amounts are presented on a diluted basis, and are based on weighted average common and common equivalent shares outstanding.

Please see the attached comparative statements for additional information on our operating results. Also attached to this news release are reconciliations of net income determined in accordance with GAAP to non-GAAP operating earnings (loss) for both our consolidated and segment results.

Forward-Looking Statements

This news release and other statements by us include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the outlook for earnings, revenues and other future financial business performance or strategies and expectations. Forward-looking statements are typically identified by words such as, but not limited to, “estimates,” “expects,” “anticipates,” “intends,” “believes,” “plans,” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” and “could.” Although we believe such forward-looking statements are based on reasonable assumptions, we cannot give assurance that every objective will be achieved. Forward-looking statements speak only as of today, and we assume no duty to update them. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, general economic conditions and the factors discussed under the “Risk Factors” heading in our most recent annual report on Form 10-K and other documents we have filed with, or furnished to, the U.S. Securities and Exchange Commission.

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WGL Holdings, Inc.

Consolidated Balance Sheets

(Unaudited)

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WGL Holdings, Inc.

Consolidated Statements of Income

(Unaudited)

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WGL Holdings, Inc.

Consolidated Financial and Operating Statistics

(Unaudited)

FINANCIAL STATISTICS

UTILITY GAS STATISTICS

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WGL HOLDINGS, INC.

USE OF NON-GAAP OPERATING EARNINGS (LOSS)

(Unaudited)

The attached reconciliations are provided to clearly identify adjustments made to net income calculated in accordance with GAAP to derive non-GAAP operating earnings (loss). Management believes non-GAAP operating earnings (loss) provides a more meaningful representation of our earnings from ongoing operations by adjusting for the effects of: (i) unrealized mark-to-market gains and losses from energy-related derivatives for our regulated utility and retail marketing segments; (ii) unrealized gains (losses) on certain derivatives for the long-term purchase of natural gas for the midstream energy services segment; (iii) certain gains and losses associated with optimizing the utility segment’s capacity assets; (iv) changes in the measured value of our inventory for our midstream energy services segment; (v) for our regulated utility segment, the estimated financial effects of warmer-than-normal/colder-than-normal weather as measured consistent with our jurisdictional tariffs, to the extent the effects are not offset by weather protection mechanisms; (vi) incremental legal and consulting costs associated with business development activities; and (vii) certain unusual transactions. This presentation facilitates analysis by providing a consistent and comparable measure to help management, investors and analysts better understand and evaluate our operating results and performance trends, to forecast future results and assist in analyzing period-to-period comparisons. Additionally, we use this non-GAAP measure to report to the board of directors and to evaluate management’s performance. The economic substance underlying our adjustments to calculate non-GAAP operating earnings (loss) is as follows:

With the exception of certain transactions related to the optimization of system capacity assets as discussed below, when these derivatives settle, the realized economic impact is reflected in our non-GAAP operating results, as we are only removing interim unrealized mark-to-market amounts.

We also exclude valuation adjustments to the carrying value of non-system natural gas storage inventory in our regulated utility segment. This inventory is held solely to support asset optimization transactions. Valuation adjustments to reflect lower-of-cost or market under current accounting standards may not be representative of the margins that will be realized and shared with our utility ratepayers. Non-GAAP earnings reflect actual margins realized based on the unadjusted historical cost in storage when inventory is withdrawn and sold.

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WGL HOLDINGS, INC.

USE OF NON-GAAP OPERATING EARNINGS (LOSS)

(Unaudited)

There are limits in using non-GAAP operating earnings (loss) to analyze our results, as they are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. In addition, using non-GAAP operating earnings (loss) per share to analyze our earnings may have limited value as it excludes certain items that may have a material impact on our reported financial results. We compensate for these limitations by providing investors with the attached reconciliations to net income, the most directly comparable GAAP financial measure.

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WGL HOLDINGS, INC. (Consolidating by Segment)

RECONCILIATION OF GAAP NET INCOME (LOSS) TO

NON-GAAP OPERATING EARNINGS (LOSS)

(Unaudited)