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Dominion gets incremental approval to merge with SC utility

(PRNewsfoto/Dominion Energy)

Federal regulators have given the first of several levels of approval to a Virginia-based power company's proposed merger with an embattled South Carolina utility after the failure of a multibillion-dollar nuclear project.

The Federal Energy Regulatory Commission on Friday ruled that the combination of SCANA Corp. and Dominion Energy, Inc. "is consistent with the public interest and is authorized."

The Virginia utility has offered rebates of around $1,000 to customers of SCANA subsidiary South Carolina Electric & Gas Corp.

SCE&G and state-owned utility Santee Cooper spent more than $9 billion before abandoning construction on a pair of nuclear reactors near Columbia last year.

Dominion says the merger is contingent upon approval of SCANA's shareholders, as well as authorizations from state regulators and the Nuclear Regulatory Commission.

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