Just thought I’d better put up a post about the big news of the day, to give those of you who wish to comment a place to do so:
Dominion buying SCANA, offers refunds to SCE&G customers after nuclear fiasco
Virginia-based Dominion Energy is buying SCANA Corp. in a $14.6 billion deal that offers $1.3 billion in refunds to SCE&G power customers who unwittingly helped bankroll SCANA’s failed nuclear expansion project.
In a news release announcing the deal, Dominion pledged cash payments of about $1,000 per household to customers of SCE&G, SCANA’s Cayce-based electric utility.
The deal, subject to regulatory approvals, would leave SCANA as a subsidiary of Dominion. The Richmond-headquartered company promised to cut SCE&G’s electric rates by $7 a month, on average, and to put a halt sooner to customers’ ongoing charges for the abandoned nuclear project….
Personally, I’m not yet sure what I think of what was South Carolina’s largest publicly traded company no longer being locally owned.
One thing I’m curious about, though, and did not see addressed in The State‘s story (maybe I read it too fast): Does this mean Dominion owns the permits to build the nuclear reactors, and does that revive hopes of building them in the future?