Exhibit 99.1

CORRECTING and REPLACING WGL Holdings, Inc. Reports Third Quarter Fiscal Year

2012 Financial Results; Affirms Fiscal Year 2012 Non-GAAP Guidance

CORRECTION...by WGL Holdings, Inc.

WASHINGTON—(BUSINESS WIRE)— Please replace the release dated August 3, 2012 with this corrected version due to the following changes:

The corrected release reads:

WGL HOLDINGS, INC. REPORTS THIRD QUARTER FISCAL YEAR 2012 FINANCIAL RESULTS; AFFIRMS

FISCAL YEAR 2012 NON-GAAP GUIDANCE

WGL Holdings, Inc. (NYSE: WGL):

Consolidated Results

WGL Holdings, Inc. (NYSE: 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 quarter ended June 30, 2012 of $7.5 million, or $0.14 per share, compared to net income of $3.0 million, or $0.06 per share, reported for the quarter ended June 30, 2011.

For the nine months of fiscal year 2012, we reported net income determined in accordance with GAAP of $132.1 million, or $2.56 per share, compared to net income of $147.6 million, or $2.88 per share, reported for the comparative period of fiscal year 2011. Our operations are seasonal and, accordingly, our operating results for the three and nine months ended June 30, 2012, are not indicative of the results expected for the 12 months ending September 30, 2012.

Financial performance is also evaluated based on non-GAAP operating earnings (loss). Non-GAAP operating earnings (loss) excludes the effects of: (i) unrealized mark-to-market gains (losses) on energy-related derivatives for our regulated utility and retail energy marketing segments; (ii) certain gains and losses associated with optimizing the utility segment’s system capacity assets; (iii) changes in the measured value of our inventory for our wholesale energy solutions segment; (iv) the financial effects of warm or cold weather that exceeds weather protection for our regulated utility segment and (v) certain unusual transactions. 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 this non-GAAP financial measure, 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 quarter ended June 30, 2012, non-GAAP operating earnings were $4.0 million, or $0.08 per share, an increase of $3.7 million, or $0.07 per share, over non-GAAP operating earnings of $0.3 million, or $0.01 per share, for the same quarter of the prior fiscal year. For the nine months ended June 30, 2012, non-GAAP operating earnings were $143.4 million, or $2.78 per share, an increase of $13.0 million, or $0.23 per share, over non-GAAP operating earnings of $130.4 million, or $2.55 per share, for the same period of the prior fiscal year.

“In the third quarter we saw earnings growth in both our utility and non-utility businesses,” said Terry McCallister, Chairman and CEO. “Our regulated utility segment benefited from increased revenues following the completion of rate cases in Virginia and Maryland, and our retail-energy marketing segment continued to see steady earnings growth in spite of the extreme summer temperatures experienced in our territories. I am pleased with these results and confident that we will achieve our expectations for 10% growth in non-GAAP earnings per share this year.”

Third Quarter Results by Business Segment

Regulated Utility Segment

We typically report a net loss for quarters ending June 30 because of the seasonal nature of our utility operations and the corresponding reduced demand for natural gas during this period. For the quarter ended June 30, 2012, our regulated utility segment reported a seasonal net loss of $(5.8) million, or ($0.11) per share, compared to a net loss of $(3.9) million, or $(0.08) per share, reported for the same quarter of the prior fiscal year. After adjustments, non-GAAP operating losses for the regulated utility segment were ($4.1) million, or ($0.08) per share, for the quarter ended June 30, 2012, compared to non-GAAP operating losses of $(6.4) million, or $(0.12) per share, for the same quarter of the prior fiscal year.

For the nine months ended June 30, 2012, our regulated utility segment reported net income of $110.9 million, or $2.15 per share, an increase of $3.3 million, or $0.05 per share, over net income of $107.6 million, or $2.10 per share, reported for the nine months ended June 30, 2011. After adjustments, non-GAAP operating earnings for the regulated utility segment were $117.1 million, or $2.27 per share, for the nine months ended June 30, 2012, an increase of $6.7 million, or $0.12 per share, over non-GAAP operating earnings of $110.4 million, or $2.15 per share, for the same period of the prior fiscal year.

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

For the quarter ended June 30, 2012, the retail energy-marketing segment reported net income of $19.7 million, or $0.38 per share, an increase of $11.4 million, or $0.22 per share over net income of $8.3 million, or $0.16 per share, reported for the same quarter of the prior fiscal year. Non-GAAP operating earnings for the retail energy-marketing segment were $9.0 million, or $0.17 per share, for the quarter ended June 30, 2012, an increase of $1.3 million, or $0.02 per share, over non-GAAP operating earnings of $7.7 million, or $0.15 per share, for the same quarter of the prior fiscal year.

For the nine months ended June 30, 2012, the retail energy-marketing segment reported net income of $25.0 million, or $0.48 per share, compared to net income of $42.9 million, or $0.84 per share, reported for the same period of the prior fiscal year. Non-GAAP operating earnings for the retail energy-marketing segment were $27.3 million, or $0.53 per share, for the nine months ended June 30, 2012, an increase of $4.8 million, or $0.09 per share, over non-GAAP operating earnings of $22.5 million, or $0.44 per share, for the same period of the prior fiscal year.

The differences between GAAP net income and non-GAAP operating earnings are due to adjustments to eliminate unrealized mark-to-market gains and losses attributable to certain wholesale energy supply and retail sales contracts.

For the quarter ended June 30, 2012, non-GAAP operating earnings reflect higher realized electric margins due to increased sales volumes resulting from customer growth and favorable price conditions in the current period versus the same quarter of the prior year. Realized natural gas margins were lower primarily attributable to a less favorable pattern of margin recognition in the current quarter versus the same quarter of the prior year partially offset by higher sales volumes. The pattern of margin recognition that the retail energy-marketing segment realizes in a given quarter varies from year to year.

For the nine months ended June 30, 2012, non-GAAP operating earnings reflect higher realized electric margins attributable to higher sales volumes due to customer growth, favorable price conditions and a different pattern of margin recognition versus the prior year. Realized natural gas margins are lower primarily due to lower unit margins on portfolio optimization activities and lower retail sales volumes resulting from warm weather. As noted above, the pattern of margin recognition varies from year to year. Operating expenses in the nine month period increased primarily due to higher customer service and bad debt costs as well as other expenses.

Commercial Energy Systems

For the quarter ended June 30, 2012, the commercial energy systems segment reported net income of $0.6 million compared to net income of $45,000 for the same quarter last year. For the nine months ended June 30, 2012, the commercial energy systems segment reported net income of $1.4 million compared to net income of $25,000 for the same period last year. The increase in earnings is primarily due to higher revenue from commercial solar projects in the current period and the timing of project work for government agency customers that was delayed in the prior year. There were no non-GAAP adjustments for this segment for any of the periods presented.

Wholesale Energy Solutions

For the quarter ended June 30, 2012, the wholesale energy solutions segment reported a net loss of $(6.0) million, or $(0.12) per share, compared to a net loss of $(0.6) million for the same period of the prior fiscal year. Non-GAAP net losses for the wholesale energy solutions segment were $(0.5) million, or $(0.01) per share, compared to a loss of $(0.2) million for the same period of the prior fiscal year.

For the nine months ended June 30, 2012, the wholesale energy solutions segment reported a net loss of $(3.4) million, or $(0.07) per share, compared to a net loss of $(0.4) million for the same period of the prior fiscal year. Wholesale energy solutions had a non-GAAP net loss of $(0.7) million, compared to net income of $0.1 million for the same period of the prior fiscal year.

The non-GAAP comparison for the year-to-date period reflects low storage and transportation spreads due to one of the warmest winters on record across the country, which affected optimization opportunities. Both the quarter and year-to-date periods reflect higher operation and maintenance expense as a result of new storage and optimization arrangements, as well as costs related to the Commonwealth Pipeline project.

Earnings Outlook

We are lowering our GAAP earnings estimate for fiscal year 2012 to a range of $2.34 per share to $2.46 per share. This estimate includes projected fiscal year 2012 earnings from our regulated utility segment in a range of $1.74 per share to $1.80 per share and projected fiscal year 2012 earnings from our unregulated business segments in a range of $0.60 per share to $0.66 per share.

We are affirming our consolidated earnings estimate for fiscal year 2012 based on non-GAAP operating earnings in a range of $2.43 per share to $2.55 per share. This estimate includes projected fiscal year 2012 non-GAAP operating earnings from our regulated utility segment in a range of $1.82 per share to $1.88 per share, and projected fiscal year 2012 non-GAAP operating earnings from our unregulated business segments in a range of $0.61 per share to $0.67 per share. Refer to the “Reconciliation of GAAP Earnings Guidance to Non-GAAP Earnings Guidance” attached to this press release for a reconciliation of our GAAP earnings per share estimate to our estimate based on non-GAAP operating earnings per share.

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 the WGL Holdings website, www.wglholdings.com.

Other Information

We will hold a conference call at 10:30 a.m. Eastern Time on August 6, 2012, to discuss our third quarter fiscal year 2012 financial results. The live conference call will be available to the public via a link located on the WGL Holdings website, www.wglholdings.com. 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 the WGL Holdings website through September 6, 2012.

Headquartered in Washington, D.C., WGL Holdings, Inc. has four operating segments: (i) the regulated utility segment which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail-energy marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity; (iii) the commercial energy systems segment which consists of Washington Gas Energy Systems, Inc., a provider of design-build energy efficiency solutions to government and commercial clients and commercial solar projects and (iv) the wholesale energy solutions segment which consists of Capitol Energy Ventures Corp., an asset optimization business that acquires, manages and optimizes natural gas storage and transportation assets. Additional information about WGL Holdings, Inc. is available on our website, 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 as well as reconciliations of our GAAP earnings guidance to our non-GAAP earnings guidance.

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.

WGL Holdings, Inc.

Consolidated Balance Sheets

(Unaudited)

WGL Holdings, Inc.

Consolidated Statements of Income

(Unaudited)

WGL Holdings, Inc.

Consolidated Financial and Operating Statistics

(Unaudited)

FINANCIAL STATISTICS

UTILITY GAS

STATISTICS

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 operations; (ii) certain gains and losses associated with optimizing the utility segment’s capacity assets; (iii) changes in the measured value of our inventory for our wholesale energy solutions segment; (iv) the financial effects of warmer-than-normal/colder-than-normal weather that exceeds weather protection for our regulated utility segment and (v) 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, 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:

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.

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.

WGL HOLDINGS, INC. (Consolidating by Segment)

RECONCILIATION OF GAAP NET INCOME (LOSS) TO

NON-GAAP OPERATING EARNINGS (LOSS)

(Unaudited)

Three Months Ended June 30, 2012

Three Months Ended June 30, 2011 (i)