News broke yesterday that Virginia-based Dominion Energy will purchase SCANA (and its subsidiary SCE&G) for $14.6 billion. As part of the deal (being called one of the largest in S.C. history), Dominion will immediately issue $1.3 billion in refunds to SCE&G + SCANA customers (~$1,000 per household) who have already paid $1.8 billion (since 2009) for the failed V.C. Summer nuclear reactor project near Jenkinsville.
Customers will receive refunds ~90 days after the deal closes.
Additionally, Dominion says they will reduce SCE&G’s rates by 5% – an avg. of $7 less per month. (Currently, customers are paying ~$27/month). However, customers will continue to pay for the failed nuclear project for the next 20 years in order to pay off the $9 billion debt.
Dominion Energy, which has already had a regional headquarters in Columbia since 2014, currently operates in 18 states across the U.S., with a total of ~5 million customers.
