SCANA, Dominion Energy merger clears another hurdle
RICHMOND, Va. (WACH) - The proposed merger between Dominion Energy and SCANA has cleared another hurdle in the wake of a failed nuclear project in Fairfield County.
The U.S. Nuclear Regulatory Commission has approved the indirect transfer of the operating license for V.C. Summer Unit 1 and of the combined licenses for V.C. Summer Units 2 and 3 from SCANA's subsidiary, South Carolina Electric & Gas, to Dominion Energy.
The move is one of several regulatory approvals the proposal needs before it becomes official.
The NRC has not yet acted on SCE&G's request to terminate the combined licenses for Units 2 and 3, but that is not required under the merger agreement.
In late July 2017, SCE&G abandoned the multi-billion dollar nuclear construction project in Jenkinsville. The utility was the majority stakeholder in the job, while state-owned utility Santee Cooper had a 45 percent stake.
Dominion Energy has no plans to complete the project if the merger is approved.
SCANA shareholders, the Federal Energy Regulatory Commission, the Georgia Public Service Commission and the Federal Trade Commission have already approved the proposed merger. It still needs approval from the public service commissions in both South and North Carolina.
If the proposal is approved, the combined company would deliver energy to approximately 6.5 million customers.