Dominion signed an agreement to sell 100% of its Dominion Telecom unit to a subsidiary of Elantic Networks Inc. Terms of the transaction were not disclosed. However, Dominion expects to take a loss of up to $30 million related to the sale, which is expected to close in the second quarter. The sale is subject to review or approval by the Federal Communications Commission and regulators in 11 states.

WGL Holdings is raising its earnings guidance for the quarter ended March 31, to a range of $1.61 to $1.71 per average common share from its previous guidance range of $1.45 to $1.55/share. For the full fiscal year ending Sept. 30, 2004, WGL increased its guidance to a range of $1.87 to $1.97/share from the previous range of $1.72 to $1.82. The revised earnings guidance reflects: (1) actual weather through Feb. 25 and an assumption of normal weather for the balance of each respective period in this fiscal year; (2) an estimate of the outcome of a Virginia rate case in which higher rates went into effect subject to refund on Feb. 26; (3) an estimate of an additional depreciation provision to be recorded in accordance with an “earnings test” currently required by the Virginia Corporation Commission; and (4) after-tax earnings of $0.12/share from the disposition of two buildings in which WGL had an affiliated interest.

Enbridge Energy Partners LP closed its $13 million acquisition of gas transmission and gathering pipelines from ONEOK Palo Duro Pipeline Co., a subsidiary of ONEOK Inc. The 400-mile system, which begins in Hemphill County, TX, and flows south to Coke County, TX, currently transports 18,000 MMBtu/d of gas and has capacity to up to 75,000 MMBtu/d.

Duke Capital Corp., a subsidiary of Duke Energy, changed its form of organization from a Delaware corporation to a Delaware limited liability company, effective Tuesday. The subsidiary will now be known as Duke Capital LLC. The conversion to an LLC will provide greater tax efficiency at the state level but will have no further impact on the company or holders of securities in Duke Energy or Duke Capital, the company said.

Atmos Energy completed its acquisition of the natural gas assets of ComFurT Gas Inc., a privately held natural gas utility and propane distributor based in Buena Vista, CO. Atmos paid $1.95 million cash for ComFurT Gas’ 49-mile natural gas distribution system, which serves 1,800 utility customers. ComFurT Gas will continue to own and operate its propane business. Atmos’ Colorado-Kansas Division, based in Denver, serves 60 communities in Colorado with 104,000 natural gas utility customers. The division also serves 113,000 customers in Kansas.

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