Potential Buyer Sweetens Deal To Merge

To buy SCE&G

Patrick Gentry
November 21, 2018 - 3:43 pm

Virginia-based Dominion Energy has sweetened its offer to buy a troubled South Carolina utility in the wake of a multibillion-dollar nuclear construction debacle.

Media outlets report Dominion filed a new plan with state regulators Tuesday featuring a bigger rate cut for South Carolina Electric & Gas Co. customers.

The Public Service Commission is considering whether Dominion can buy parent company SCANA, as well as who should foot the bill for continued costs for the failed $9 billion project.

Dominion's latest offer would slash SCE&G power bills by about $22 a month on average. That's eight cents more than the Legislature's temporary cut, which expires next month, and $1.70 more than Dominion's previous offer.

SCE&G and state-owned utility Santee Cooper abandoned the project in 2017 following the bankruptcy of contractor Westinghouse.

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