Swordsmyth
09-06-2018, 01:01 AM
A deal to merge troubled South Carolina utility SCANA with Dominion Energy cleared another hurdle this week, moving a step closer to an agreement that could mean more than a billion dollars in rebates for utility customers.Dominion announced on Tuesday that the U.S. Nuclear Regulatory Commission had approved the indirect transfer of the operating license for the V.C. Summer Nuclear Station from SCANA subsidiary South Carolina Electric & Gas Co. to the Virginia-based company.
SCANA suddenly needed a buyer after spending $5 billion on a pair of reactors abandoned a year ago at V.C. Summer. Thousands of people were left jobless in the debacle, which has spawned more than a dozen lawsuits and followed the bankruptcy of lead contractor Westinghouse.
Dominion is offering more than $1 billion in rebates to SCE&G customers in the deal, which would also cut rates by about 7 percent.
SCANA shareholders voted in July to approve the deal, which gives Dominion more of a foothold in South Carolina. It's gotten blessings from the Federal Energy Regulatory Commission and Georgia state regulators and still needs approvals from the public service commissions of North and South Carolina.
More at: https://www.yahoo.com/news/federal-regulators-blessing-sc-utility-160853614.html
SCANA suddenly needed a buyer after spending $5 billion on a pair of reactors abandoned a year ago at V.C. Summer. Thousands of people were left jobless in the debacle, which has spawned more than a dozen lawsuits and followed the bankruptcy of lead contractor Westinghouse.
Dominion is offering more than $1 billion in rebates to SCE&G customers in the deal, which would also cut rates by about 7 percent.
SCANA shareholders voted in July to approve the deal, which gives Dominion more of a foothold in South Carolina. It's gotten blessings from the Federal Energy Regulatory Commission and Georgia state regulators and still needs approvals from the public service commissions of North and South Carolina.
More at: https://www.yahoo.com/news/federal-regulators-blessing-sc-utility-160853614.html