Dominion Energy Merger Could Mean Refunds for SCE&G Customers
COLUMBIA, SC (WTAT-TV) — A Virginia-based energy company, Dominion Energy, has announced plans to merge with SCANA.
Leaders with the company went before the Public Service Commission on Thursday to present plans for the merger.
This all comes after SCANA abandoned the V.C. Summer Nuclear Plant in Fairfield County.
Chet Wade, the Vice President of Communications for Dominion Energy, said if the merger is successful all SCE&G customers could see a refund for paying into the nuclear project.
However, Wade says consumers might not see that refund possibly until the end of the year.
“We also have to have it work, quite frankly, for the SCANA shareholders, because another group that has to approve this is the SCANA shareholders,” he said. “We need two-thirds of the SCANA shareholders to vote for this before it can become real. So, if they don’t approve it, the Public Service Commission doesn’t approve it, if the legislature makes some changes in the law to make it impossible for us to go ahead with this combination – all of those things have to work out before we start to do things like write those refund checks.”
There is no word yet on whether the commission approved their merger. We’ll be sure to let you know once we find out.
Breaking News: Dominion Energy, SCANA Announce All-Stock Merger With $1,000 Immediate Cash Payment To Average South Carolina Electric & Gas Residential Electric Customer After Closing.
— Dominion Energy (@DominionEnergy) January 3, 2018