Exhibit A

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					                                                                                                          Exhibit 1
                                                                                                        page 2 of 7
                                     Questar Gas Company
                                       Historical Balance Sheets
                                       Years Ended December 31

(Thousands of dollars)                                                                                  2005 to 2010
                                                                                                         Avg. Annual
Account Name                         2005        2006        2007        2008        2009        2010 Pct. Change

Current Assets:
Cash & Equivalents                 3,206       3,600       4,100       1,200       7,200       4,700         7.95%
Accounts Receivable, net         189,451     152,900     153,000     174,600     166,900     171,300        -1.99%
Gas Stored Underground                                                            42,500      43,300
Material and Supplies             64,175      58,000      52,200      75,800      12,100       7,900       -34.23%
Income Tax Receivable                                                  7,100                   7,700
Purchased-Gas Adjustment
Regulatory Assets                                                     20,600      43,300      52,700
Other Current Assets              48,217       3,800      17,900       4,700       7,000       4,200       -38.62%
Total Current Assets             305,049     218,300     227,200     284,000     279,000     291,800        -0.88%

Plant & Equipment:
Plant in Service                1,364,282   1,387,000   1,505,700   1,622,900   1,681,600   1,762,500        5.26%
Construction Work in Progress      19,080      31,100      33,500      23,900      40,300      55,100       23.63%
Other PP&E
Total Plant & Equipment:        1,383,362   1,418,100   1,539,200   1,646,800   1,721,900   1,817,600        5.61%

Accumulated Dep & Amort          615,934     598,000     630,300     657,300     690,400     721,300         3.21%

Net Plant & Equipment            767,428     820,100     908,900     989,500    1,031,500   1,096,300        7.39%

Other Assets:
Regulatory Assets                  22,052      23,000      19,100      18,100      16,000      15,000       -7.42%
Goodwill                            5,652       5,600       5,600       5,600       5,600       5,600       -0.18%
Other Non-Current Assets            6,438       6,300       6,900       7,800       7,000       2,600      -16.58%
Total Other Assets                 34,142      34,900      31,600      31,500      28,600      23,200       -7.44%
Total Non-Current Assets          801,570     855,000     940,500   1,021,000   1,060,100   1,119,500        6.91%
Total Assets                    1,106,619   1,073,300   1,167,700   1,305,000   1,339,100   1,411,300        4.98%

Current Liabilities:
Notes Payable to Questar          77,400      13,200      72,900      88,300      87,000     153,600        14.69%
Current Portion, LTD                          10,000      43,000                               2,000
Acounts Payable                  148,596     126,800     130,400     111,700     124,100     102,500        -7.16%
Acounts Payable, Affiliates       27,409      32,600      32,600      49,500      47,200      53,600        14.35%
Customer-credit Balances          30,829      31,400      34,100      34,900      30,300      26,200        -3.20%
Other                             18,432      46,200      62,300      51,600      33,800       8,600       -14.14%
Total Current Liabilities        302,666     260,200     375,300     336,000     322,400     346,500         2.74%

Long-Term Debt                   323,000     313,000     270,000     370,000     370,000     368,000         2.64%
Deferred Income Taxes            118,024     118,700     123,000     154,000     189,000     230,300        14.30%
Other Deferred Credits            44,603      51,800      58,700      60,400      58,700      51,000         2.72%
Total LTD & Deferrals            485,627     483,500     451,700     584,400     617,700     649,300         5.98%

Total Liabilities                788,293     743,700     827,000     920,400     940,100     995,800         4.78%

Preferred Stock

Common Equity:
Common Stock                      138,229     139,000     139,700     170,900     171,900     173,300        4.63%
Retained Earnings                 180,097     190,600     201,000     213,700     227,100     242,200        6.10%
Total Common Equity               318,326     329,600     340,700     384,600     399,000     415,500        5.47%
Total Liabilities & Equity      1,106,619   1,073,300   1,167,700   1,305,000   1,339,100   1,411,300        4.98%
                                                                                                              Exhibit 1
                                                                                                            page 1 of 7
                                            Questar Gas Company
                                             Historical Income Statements
                                              Years Ended December 31

(Thousands of dollars)                                                                                       2005 to 2010
                                                                                                             Avg. Annual
Account Name                                2005         2006      2007         2008      2009       2010 Pct. Change

Operating Sales and Revenues:
Revenues                                 242,374      242,800   245,300      263,400   293,300    310,700         5.09%
Commodity Pass Through                   720,173      821,800   687,200      736,900   626,600    592,200        -3.84%
Total Revenues                           962,547    1,064,600   932,500    1,000,300   919,900    902,900        -1.27%

Operating Expenses:
 Cost of Natural Gas Sold                484,182     569,800    441,200     304,200    305,600    278,500      -10.47%
 Cost of Natural Gas Sold - Affiliates   235,991     252,000    246,000     432,700    321,000    313,700        5.86%
 Operating and Maintenance                73,834      73,200     73,400      87,100    106,400    114,400        9.15%
 General and Administrative               39,252      41,900     45,500      38,700     42,900     49,900        4.92%
 Depreciation and amortization            45,828      40,900     38,800      41,500     43,800     43,700       -0.95%
 Miscellaneous
 Taxes, other than income taxes           11,013      11,600     11,500      11,900     13,300     14,100         5.07%
Total Operating Expenses                 890,100     989,400    856,400     916,100    833,000    814,300        -1.76%
Earnings From Operations                  72,447      75,200     76,100      84,200     86,900     88,600         4.11%

 Interest expense (net)                   20,158      22,600     23,800      25,200     28,500     26,200        5.38%
 Interest and Other Income                (4,962)     (6,600)    (7,400)     (5,200)    (7,600)    (6,700)       6.19%
 Loss (Gain) on Sale of Assets                           300
 Other Income (Expense)
Total Other Income/Expense                15,196      16,300     16,400      20,000     20,900     19,500        5.11%

Earnings Before Taxes                     57,251      58,900     59,700      64,200     66,000     69,100        3.83%
Extraordinary Items
Income Taxes                              21,276      21,900     22,300      24,000     24,400     25,200        3.44%
Net Income                                35,975      37,000     37,400      40,200     41,600     43,900        4.06%

Preferred Stock Dividends
Common Stock Dividends                    26,000      26,500     27,000      27,500     28,200     28,800        1.92%
                                                                                                   Exhibit 1
                                                                                                 page 4 of 7
                                        Questar Gas Company
                                         Historical Financial Ratios
                                         Years Ended December 31


                                                                                                     2005 to 2010
Ratio Group And Name                    2005      2006        2007        2008      2009      2010       Average


Short-term Liquidity Ratios:
Current                                 1.01      0.84        0.61        0.85      0.87      0.84         0.83
Quick                                   0.64      0.60        0.42        0.52      0.54      0.51         0.54
Days Revenues Receivable               68.81     61.64       55.91       61.87     64.91     66.34        63.25

Long-term Solvency Ratios:
Net Worth/Total Debt                    0.40      0.44        0.41        0.42      0.42      0.42          0.42
Net Worth/Non Current Debt              0.66      0.68        0.75        0.66      0.65      0.64          0.67
Net Worth/Fixed Assets                  0.41      0.40        0.37        0.39      0.39      0.38          0.39
Times Interest Earned                   3.84      3.61        3.51        3.55      3.32      3.64          3.58

Profitability Ratios:
Gross Margin                         25.18%    22.81%      26.31%      26.33%    31.88%    34.41%       27.82%
Net Margin                            3.74%     3.48%       4.01%       4.02%     4.52%     4.86%        4.10%
Return On Total Assets                4.59%     4.70%       4.67%       4.53%     4.51%     4.46%        4.57%
Return On Total Capital               7.91%     7.98%       8.35%       8.20%     7.82%     7.87%        8.02%
Return On Common Equity              11.36%    11.42%      11.16%      11.09%    10.62%    10.97%       11.10%

Asset-utilization Ratios:
Sales/Cash                            360.71    312.84      242.21      377.47    219.02    151.75       277.33
Sales/Accounts Receivable               5.91      6.22        6.10        6.11      5.39      5.34         5.84
Sales/Working Capital                 -39.19    -53.88       -9.82      -10.00    -19.29    -16.92       -24.85
Sales/Fixed Assets                      1.27      1.34        1.08        1.05      0.91      0.85         1.08
Sales/Total Assets                      0.91      0.98        0.83        0.81      0.70      0.66         0.81

Other Financial Indicators:
Bond Rating - Standard & Poors            A-         A-         A-          A-    BBB+           A
Bond Rating - Moody's                                           A2          A3        A3        A3
Outlook                                                                 Stable    Stable    Stable
EBIT / Interest > 3.0                   3.84      3.61        3.51        3.55      3.32      3.64
Debt / Book Capitalization < 60.0%   55.71%    49.74%      50.16%      54.37%    53.39%    55.66%
Retained Cash Flow / Debt > 10.0%     9.03%    46.20%      25.52%       5.50%    19.93%     7.76%
Simple Return on Equity > 10.0%      11.30%    11.23%      10.98%      10.45%    10.43%    10.57%
Estimated Interest Rate               5.25%     6.22%       7.11%       6.29%     6.23%     5.35%

Capital Structure (Regulatory):
Long-Term Debt                        50.36%    49.49%     47.88%       49.03%    48.11%    47.10%      48.67%
Common Equity                         49.64%    50.51%     52.12%       50.97%    51.89%    52.90%      51.33%
                                     100.00%   100.00%    100.00%      100.00%   100.00%   100.00%     100.00%

Capital Structure:
Short-Term Debt                       10.77%     1.98%     10.03%       10.48%    10.16%    16.36%       9.96%
Long-Term Debt                        44.94%    48.51%     43.08%       43.90%    43.22%    39.40%      43.84%
Common Stock                          44.29%    49.50%     46.89%       45.63%    46.61%    44.24%      46.19%
                                     100.00%   100.00%    100.00%      100.00%   100.00%   100.00%     100.00%
                                                                                                          Exhibit 1
page 2 of 7                                                                                             page 7 of 7
                                               Questar Gas Company
                                                       Common Size
                                                 Historical Balance Sheets


                                                                                                        2005 to 2010
              Account Name                      2005      2006      2007       2008     2009     2010 Wt. Average

              Current Assets:
              Cash & Equivalents               0.29%    0.34%      0.35%      0.09%    0.54%    0.33%       0.32%
              Accounts Receivable, net        17.12%   14.25%     13.10%     13.38%   12.46%   12.14%      13.62%
              Gas Stored Underground
              Material and Supplies            5.80%     5.40%     4.47%     5.81%    0.90%    0.56%         3.65%
              Income Tax Receivable                                          0.54%
              Purchased-Gas Adjustment
              Regulatory Assets                                               1.58%    3.23%    3.73%
              Other Current Assets             4.36%    0.35%      1.53%      0.36%    0.52%    0.30%       1.16%
              Total Current Assets            27.57%   20.34%     19.46%     21.76%   20.83%   20.68%      21.69%

              Plant & Equipment:
              Plant in Service                123.28% 129.23% 128.95% 124.36% 125.58% 124.88%             125.95%
              Construction Work in Progress     1.72%   2.90%   2.87%   1.83%   3.01%                       2.74%
              Other PP&E
              Total Plant & Equipment:        125.01% 132.13% 131.81% 126.19% 128.59% 128.79%             128.69%

              Accumulated Dep & Amort         55.66%   55.72%     53.98%     50.37%   51.56%   51.11%      52.86%

              Net Plant & Equipment           69.35%   76.41%     77.84%     75.82%   77.03%   77.68%      75.83%

              Other Assets:
              Regulatory Assets                 1.99%   2.14%   1.64%   1.39%   1.19%   1.06%               1.53%
              Goodwill                          0.51%   0.52%   0.48%   0.43%   0.42%   0.40%               0.45%
              Other Non-Current Assets          0.58%   0.59%   0.59%   0.60%   0.52%   0.18%               0.50%
              Total Other Assets                3.09%   3.25%   2.71%   2.41%   2.14%   1.64%               2.48%
              Total Non-Current Assets         72.43%  79.66%  80.54%  78.24%  79.17%  79.32%              78.31%
              Total Assets                    100.00% 100.00% 100.00% 100.00% 100.00% 100.00%             100.00%

              Current Liabilities:
              Notes Payable to Questar         6.99%    1.23%      6.24%     6.77%    6.50%    10.88%        6.65%
              Current Portion, LTD                      0.93%      3.68%
              Acounts Payable                 13.43%   11.81%     11.17%      8.56%    9.27%    7.26%      10.05%
              Acounts Payable, Affiliates      2.48%    3.04%      2.79%      3.79%    3.52%    3.80%       3.28%
              Customer-credit Balances         2.79%    2.93%      2.92%      2.67%    2.26%    1.86%       2.54%
              Other                            1.67%    4.30%      5.34%      3.95%    2.52%    0.61%       2.98%
              Total Current Liabilities       27.35%   24.24%     32.14%     25.75%   24.08%   24.55%      26.25%

              Long-Term Debt                  29.19%   29.16%     23.12%     28.35%   27.63%   26.08%      27.21%
              Deferred Income Taxes           10.67%   11.06%     10.53%     11.80%   14.11%   16.32%      12.60%
              Other Deferred Credits           4.03%    4.83%      5.03%      4.63%    4.38%    3.61%       4.39%
              Total LTD & Deferrals           43.88%   45.05%     38.68%     44.78%   46.13%   46.01%      44.20%

              Total Liabilities               71.23%   69.29%     70.82%     70.53%   70.20%   70.56%      70.45%

              Preferred Stock

              Common Equity:
              Common Stock                     12.49%  12.95%  11.96%  13.10%  12.84%  12.28%              12.60%
              Retained Earnings                16.27%  17.76%  17.21%  16.38%  16.96%  17.16%              16.95%
              Total Common Equity              28.77%  30.71%  29.18%  29.47%  29.80%  29.44%              29.55%
              Total Liabilities & Equity      100.00% 100.00% 100.00% 100.00% 100.00% 100.00%             100.00%
                                                                                                                    Exhibit 1
page 1 of 7                                                                                                       page 6 of 7
                                                        Questar Gas Company
                                                                Common Size
                                                        Historical Income Statements


                                                                                                                  2005 to 2010
              Account Name                               2005      2006     2007         2008     2009     2010       Average

              Operating Revenues:
              Revenues                                  25.18%  22.81%  26.31%  26.33%  31.88%  34.41%               27.63%
              Commodity Pass Through                    74.82%  77.19%  73.69%  73.67%  68.12%  65.59%               72.37%
              Total Revenues                           100.00% 100.00% 100.00% 100.00% 100.00% 100.00%              100.00%

              Operating Expenses:
               Cost of Natural Gas Sold                50.30%    53.52%   47.31%       30.41%   33.22%   30.85%      41.22%
               Cost of Natural Gas Sold - Affiliates   24.52%    23.67%   26.38%       43.26%   34.90%   34.74%      31.15%
               Operating and Maintenance                7.67%     6.88%    7.87%        8.71%   11.57%   12.67%       9.14%
               General and Administrative               4.08%     3.94%    4.88%        3.87%    4.66%    5.53%       4.46%
               Depreciation and amortization            4.76%     3.84%    4.16%        4.15%    4.76%    4.84%       4.40%
               Miscellaneous
               Taxes, other than income taxes           1.14%     1.09%    1.23%        1.19%    1.45%    1.56%       1.27%
              Total Operating Expenses                 92.47%    92.94%   91.84%       91.58%   90.55%   90.19%      91.64%
              Earnings From Operations                  7.53%     7.06%    8.16%        8.42%    9.45%    9.81%       8.36%

               Interest expense (net)                    2.09%    2.12%    2.55%        2.52%    3.10%    2.90%        2.53%
               Interest and Other Income                -0.52%   -0.62%   -0.79%       -0.52%   -0.83%   -0.74%       -0.67%
               Loss (Gain) on Sale of Assets                      0.03%
               Other Income (Expense)
              Total Other Income/Expense                1.58%    1.53%     1.76%       2.00%    2.27%    2.16%         1.87%

              Earnings Before Taxes                     5.95%    5.53%     6.40%       6.42%    7.17%    7.65%         6.49%
              Extraordinary Items
              Income Taxes                              2.21%    2.06%     2.39%       2.40%    2.65%    2.79%         2.41%
              Net Income                                3.74%    3.48%     4.01%       4.02%    4.52%    4.86%         4.08%

              Preferred Stock Dividends
              Common Stock Dividends                   72.27%    71.62%   72.19%       68.41%   67.79%   65.60%      69.47%
                                                                                                               Exhibit 1
page 4 of 7                                                                                                  page 5 of 7
                                                    Questar Gas Company
                                                      Supplemental Information
                                                      Years Ended December 31


                                                                                                             2005 to 2010
                                                     2005       2006      2007      2008    2009     2010        Average
              Revenue Dollars
               Residential & Commercial Sales       867.8      988.4    876.6      926.7   874.0    833.0         894.4
               Industrial Sales                      40.1       23.5      9.9       12.0     8.3     26.7          20.1
               Transportation for Industrial          5.9        6.7      9.9        9.9    11.2      9.7           8.9
               Service                                6.6        7.1      5.9        5.6     5.4      4.8           5.9
               Other                                 42.1       38.9     30.2       46.1    21.0     28.7          34.5
                 Total Revenue                      962.5    1,064.6    932.5    1,000.3   919.9    902.9         963.8

              Annual Revenue Growth                25.95%    10.61%    -12.41%    7.27%    -8.04%   -1.85%        3.59%

              Revenue Percent
               Residential & Commercial Sales       90.16%  92.84%  94.01%  92.64%  95.01%  92.26%              92.82%
               Industrial Sales                      4.17%   2.21%   1.06%   1.20%   0.90%   2.96%               2.08%
               Transportation for Industrial         0.61%   0.63%   1.06%   0.99%   1.22%   1.07%               0.93%
               Service                               0.69%   0.67%   0.63%   0.56%   0.59%   0.53%               0.61%
               Other                                 4.37%   3.65%   3.24%   4.61%   2.28%   3.18%               3.56%
                 Total Revenue                     100.00% 100.00% 100.00% 100.00% 100.00% 100.00%             100.00%


                                                         Operating Statistics
              Natural Gas Volumes (MMdth)
               Residential & Commercial Sales        96.3     102.2     106.1     112.3    109.4    105.8         105.4
               Industrial Sales                       5.7       3.1       1.6       1.7      1.3      4.5           3.0
               Transportation for Industrial         31.2      35.5      53.8      62.2     58.0     59.3          50.0
                 Total Deliveries                   133.2     140.8     161.5     176.2    168.7    169.6         158.3

              Natural Gas Volumes (Percent)
               Residential & Commercial Sales       72.30%  72.59%  65.70%  63.73%  64.85%  62.38%              66.92%
               Industrial Sales                      4.28%   2.20%   0.99%   0.96%   0.77%   2.65%               1.98%
               Transportation for Industrial        23.42%  25.21%  33.31%  35.30%  34.38%  34.96%              31.10%
                 Total Deliveries                  100.00% 100.00% 100.00% 100.00% 100.00% 100.00%             100.00%


              Natural Gas Revenue (per dth)
               Residential & Commercial Sales         9.01      9.67      8.26      8.25     7.99     7.88         8.51
               Industrial Sales                       7.06      7.64      6.18      6.99     6.50     5.89         6.71
               Transportation for Industrial          0.19      0.19      0.18      0.16     0.19     0.16         0.18

               System Natural Gas Cost (per dth)      6.46      6.54      5.93      6.14     5.01     5.34         5.90

              Colder (Warmer) than normal Temp     (3.00%)   (2.00%)    2.00%     8.00%    5.00%    1.00%         1.83%
              Temp Adjusted Usage / Cust (dth)       113.3     113.6    110.8     109.9    109.0    106.9         110.6

              Customers (Thousands)                 824.4     850.5     873.6     888.6    898.6    909.6         874.2
               Percentage Change                    3.82%     3.17%     2.72%     1.72%    1.13%    1.22%         2.29%
                                                                                                                          Exhibit 1
                                                                                                                         page 3 of 7
                                                      Questar Gas Company
                                                  Historical Cash Flow Statements
                                                     Years Ended December 31
                                                                                                                           2005 to 2010
(Thousands of dollars)                                                                                                     Avg. Annual
                                                            2005       2006       2007       2008       2009       2010 Pct. Change

Total Revenues
Cash flows from operating activities:
 Net income                                             35,975       37,000     37,400     40,200     41,600    43,900          4.06%
 Adjustments to reconcile net income
    Depreciation and amortization                       50,100       44,800     42,700     45,200     47,800    48,000        -0.85%
    Deferred income taxes and investment tax credits - net ,700
                                                         3          (15,200)     4,000     30,300     34,100    43,600        63.78%
    (Gain) Loss on sale of assets                                       300
    Cumulative Affect of Accounting Chng and Other                      700       700       1,200      1,000     1,400
 Changes in:
   Accounts receivable                                 (53,100)      36,600               (21,600)     7,700     (4,400)     -39.23%
   Inventories                                         (14,200)       6,200      8,000    (23,600)    21,200      3,400
   Accounts payable and accrued expenses                52,200      (27,300)    10,300      4,300      7,300    (21,600)
   Rate-refund obligation                              (20,600)
   Purchased-gas adjustments                            (4,000)      81,700     16,200    (12,300)   (23,700)
   Other Assets and Liabilities                         12,100       12,400     (4,800)   (11,000)   (17,700)    (8,000)
   Regulatory Assets, Liabilities & Other                                                                       (37,000)

Net cash provided by operating activities                 62,175    177,200    114,500     52,700    119,300    69,300          2.19%

Cash flows from investing activities:
  Capital expenditures                                   (67,900)   (86,700) (135,900) (126,300)     (82,600) (108,600)         9.85%
  Proceeds from sales of assets                              600        600    (2,800)   (3,100)      (1,300)   (1,000)
  Other                                                        0          0     2,000       500          100

Net cash used in investing activities                    (67,300)   (86,100) (136,700) (128,900)     (83,800) (109,600)       10.25%

Cash flows from financing activities:
  Issuance of Common Stock                                     0          0          0     30,000
  Proceeds from long-term debt                            50,000          0          0    148,400
  Long-term debt repaid                                        0          0    (10,000)   (93,000)
  Change in note payable to Questar                      (17,800)   (64,200)    59,700     15,400     (1,300)    66,600
  Dividends paid                                         (26,000)   (26,500)   (27,000)   (27,500)   (28,200)   (28,800)        2.07%
  Other                                                        0          0

Net cash provided by (used in) financing activities        6,200    (90,700)    22,700     73,300    (29,500)   37,800

Change in cash and cash equivalents                        1,075       400        500      (2,900)     6,000     (2,500)

Cash and cash equivalents at beginning of period           2,131      3,206      3,606      4,106      1,206     7,206        27.59%

Cash and cash equivalents at end of period                 3,206      3,606      4,106      1,206      7,206     4,706          7.98%

				
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posted:11/11/2011
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