SCANA to sell off property to pay ratepayer settlement

December 23, 2018 - 10:18 am

COLUMBIA, S.C. (AP) — A private utility ordered to pay some refunds to South Carolina customers for a pair of nuclear reactors that were never finished is selling off property.

The State newspaper reports SCANA Corp. will sell a 3,000-acre plantation in Georgetown, a 140-year-old business office in Charleston and hundreds of undeveloped acres near its headquarters in Cayce.

The money made on the sale will go to pay South Carolina Electric & Gas customers as part of a settlement over a lawsuit over the utility's mismanagement of the construction of two nuclear plants that were never finished. Customers own billions of dollars.

The money will also go to the lawyers who negotiated the roughly $200 million deal. How much will go to ratepayers and how much to lawyers hasn't been determined.

___

Information from: The State, http://www.thestate.com

AP Editorial Categories: 
Comments ()