In a monumental deal made public on Wednesday , Dominion Energy and Scana Corporation announced a conditional merger that would roll debt from the failed V.C.
Dominion also said it would cover the full $180 million cost for a 540-megawatt gas-fired power plant SCE&G was set to purchase to help fill capacity needs.
A law in South Carolina, the Base Load Review Act, allowed Scana to keep collecting money from customers even though the company canceled the V.C.
Another Republican legislator, State Senator Shane Massey, said it was hard to continue asking customers to pay for undelivered electricity.
Although Dominion CEO Thomas Farrell told investors Scana was “a natural fit," he threatened to walk away if regulators challenged the deal.
- Caution on SCANA dealCharleston Post Courier
- South Carolina customers could see refunds in utility saleChattanooga Times Free Press
- SCANA Corp. is being acquired by Virginia-based utilityThe Augusta Chronicle
- Scana & Dominion: The Hot Stock & The Biggest LoserBarron's
- SCANA goes to Dominion in blockbuster $7.9 billion dealCharlotte Business Journal
- Japan leads Asian shares higher, buoyed by Wall St recordChicago Tribune
- Deal Aims to Resolve Scana's Nuclear Mess -- WSJFox Business
- Dominion Pounces on Scana's Nuclear WoesWall Street Journal
- Friends of the Earth/Sierra Club Statement on Dominion Takeover of SCANACommon Dreams
