Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

South Carolina customers could see refunds amid utility sale

US construction spending rose 0.8 percent in November

COLUMBIA, S.C/January 03, 2018(AP)(STL.News)— A deal with Virginia-based Dominion Energy could mean $1.3 billion in refunds for customers of a troubled South Carolina utility who have been funding a failed nuclear reactor project.

Dominion announced Wednesday it would make immediate $1,000 cash payments to SCANA Corp. customers within 90 days of closing its purchase of the company.

SCANA has been reeling since announcing last summer its subsidiary, South Carolina Electric & Gas Co., was abandoning construction of two new nuclear reactors at the V.C. Summer Nuclear Station. Via a series of rate hikes, SCE&G customers have paid about $2 billion toward the company’s debt on the project.

SCE&G and project co-owner Santee Cooper blamed the $9 billion project failure on the bankruptcy by contractor Westinghouse. The $14.6 billion deal announced Wednesday needs regulatory approval.

By Associated Press, published on STL.NEWS by St. Louis Media, LLC (TM)

The post South Carolina Customers could see Refunds Amid Utility sale appeared first on STL.News - ST Louis Latest News Updates.

This post first appeared on STL.News, please read the originial post: here

Share the post

South Carolina customers could see refunds amid utility sale


Subscribe to

Get updates delivered right to your inbox!

Thank you for your subscription