OnPoint on WACH Fox: The proposed merger of SCANA, Dominion Energy
COLUMBIA, S.C.(WACH) - On this week's edition of on OnPoint on WACH Fox we examine the pros and cons of the proposed merger between Dominion Energy and SCANA.
Virginia-based Dominion recently announced the multi-billion dollar merger plan in the wake of SCANA's failed nuclear reactor project in Fairfield County.
After SCANA and Santee Cooper abandoned the project in late July 2017, roughly 5,000 people were left jobless and customers were left with a lot of questions after paying approximately $2 billion into the project through a series of utlity rate hikes.
Dominion's merger proposal includes a plan to reimburse customers, boasting an average of $1000 refund checks for SCE&G customers who were left on the hook for paying for that failed project. The deal even proposes giving more than $4 billion back in write-offs and other subsidies.
But, opponents say not so fast. Some state lawmakers say customers still would be charged higher electric bills over the next 20 years to pay off the two failed nuclear reactors. Lawmakers, state and federal regulators, and stockholders have to approve the merger.
This week on OnPoint on WACH Fox we ask Dominion officials about some of the questions people have.