NEWBERRY, S.C. (AP) — A Virginia-based power company looking to merge with an embattled South Carolina utility is kicking off a series of meetings offering an opportunity to learn more about their aims and goals.
Dominion Energy officials are in Newberry on Monday for the first of seven meet-and-greets.
Shareholders of SCANA have approved a deal to merge the company with Dominion. The Richmond, Virginia-based company proposed the merger following SCANA’s tumult in the wake of its decision to abandon a multibillion-dollar nuclear construction project.
Customers of SCANA subsidiary South Carolina Electric & Gas Co. have paid $2 billion toward the company’s debt in the project, despite it never generating any power. Dominion is offering more than $1 billion in givebacks and a 7-percent rate cut as part of its proposal.