Commission
File Number
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Exact name of registrant as specified in its charter and
principal office address and telephone number
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State of
Incorporation
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I.R.S.
Employer Identification No.
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001-37976
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Southwest Gas Holdings, Inc.
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California
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81-3881866
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5241 Spring Mountain Road
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Post Office Box 98510
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Las Vegas, Nevada 89193-8510
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(702) 876-7237
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1-7850
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Southwest Gas Corporation
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California
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88-0085720
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5241 Spring Mountain Road
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Post Office Box 98510
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Las Vegas, Nevada 89193-8510
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(702) 876-7237
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(d)
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Exhibits.
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Exhibit
No.
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Description
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99.1
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SOUTHWEST GAS HOLDINGS, INC.
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(Registrant)
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Date: June 1, 2018
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/s/ LORI L. COLVIN
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Lori L. Colvin
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Vice President/Controller and
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Chief Accounting Officer
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SOUTHWEST CORPORATION
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(Registrant)
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Date: June 1, 2018
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/s/ LORI L. COLVIN
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Lori L. Colvin
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Vice President/Controller and
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Chief Accounting Officer
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Exhibit
No.
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Description
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99.1
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·
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$14.4 million increase in revenues or approximately 3.8% in southern Nevada and 1.9% in northern Nevada (excluding gas infrastructure replacement (“GIR”) mechanism related projects), which reflects changes in Southwest’s cost of service since the last general rate case.
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·
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$18.1 million increase in revenues or approximately 5.2% in southern Nevada and 1.1% in northern Nevada associated with adding previously approved GIR related projects to rate base.
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·
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Increase in depreciation rates by approximately $3.8 million.
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·
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Increase in rate base of $283 million for southern Nevada and $26 million for northern Nevada. Of the combined $309 million increase in rate base, $163.6 million is related to adding GIR related projects to rate base.
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·
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Return on common equity of 10.3% relative to a 49.3% common equity capitalization ratio.
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·
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Implementation of a pension tracker designed to track and adjust rates to reflect changes in pension expense between rate cases.
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·
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Adjustment to the existing GIR rate as part of the rate case in lieu of filing a separate GIR rate application later this year. If approved, this adjustment is estimated to result in incremental surcharge revenue of $6.5 million for southern Nevada and $136,000 for northern Nevada.
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·
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No changes in Southwest’s rate design or basic service charge and continuing the general revenues adjustment mechanism (full revenue decoupling).
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·
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Approved capital investment of approximately $28 million.
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·
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Approved construction of approximately 17 miles of approach main and an additional 20 miles of distribution pipeline.
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·
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The Senate Bill 151 Rate will be designed to recover 98.5% of the related revenue requirement from existing southern Nevada customers and 1.5% from customers in Mesquite.
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·
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Southwest’s service territory will be expanded to include the City of Mesquite and the portions of Lincoln County, Nevada that are necessary for the installation of the approach main.
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·
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Approved virtual pipeline proposal, which consists of constructing a portion of the distribution system and serving certain customers using compressed natural gas until the approach main and permanent gas supply is available.
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·
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Anticipate being able to provide natural gas service to certain customers in Mesquite using virtual pipeline as early as the first half of 2019.
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For Shareholders information, contact:
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For media information, contact:
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Ken Kenny
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Sonya Headen
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(702) 876-7237
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(702) 364-3411
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ken.kenny@swgas.com
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sonya.headen@swgas.com
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