Dominion Energy said Wednesday it had completed the purchase of Scana Corporation, providing symbolic closure to the South Carolina utility’s failed aspirations to construct two AP1000 reactors at the V.C. Summer Nuclear Generating Station in Jenkinsville, S.C.
Under construction since May 2008 Scana subsidiary South Carolina Electric & Gas and Santee Cooper elected to pull the plug on the project in July 2017 after spending $9 billion, including about $2 billion that came from nine separate customer rate hikes. State politicians and consumer groups reacted harshly to the pull out, which left them with nothing to show for the nine-year construction effort.
In January 2017, Dominion Energy, the fourth largest gas and electric utility in the country, announced it would absorb Scana and make some effort to make amends to consumers. The company said it would lower consumer bills by 15 percent, an average of $22 per customer, according to The State.
Dominion Energy already has 120,000 customer in South Carolina, one of 18 states in which it operates. With the Scana purchase, it adds 730,000 more customers and picks up 5,200 employees. The purchase includes PSNC Energy in Georgia, Scana Energy Georgia and SCE&G. Together, the purchase will operate as Dominion Energy South Carolina.
The purchase also includes the V.C. Summer facility, which operates one Westinghouse 3-Loop Pressurized Water Reactor that went online in January 1984.
Scana is a home-grown South Carolina company that began in 1846. It was then called the Charleston Gas Light Company.
“Dominion Energy is pleased to add Scana’s fast-growing, high-performing southeastern business to our 18-state footprint,” said Dominion Chairman President and Chief Executive Officer Thomas Farrell in a statement. “Together, we are committed to providing safe, dependable, affordable and clean energy to the communities served by Scana and to maintain its excellent record of reliability and customer service.”
Soon after the closing was complete, Dominion announced that Scana CEO Jimmy Addision would be retiring. Rodney Blevins, Dominion Energy’s senior vice president and chief information officer would fill his position, the company said.
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