SCANA, Dominion Energy get approval for next steps on possible merger
CAYCE, S.C. (WACH) – The proposed merger between Dominion Energy and the SCANA Corporation has been approved by the Federal Energy Regulatory Commission.
In an order issued Thursday, FERC found the combination of the two companies “is consistent with the public interest" and authorized the proposal.
“We are pleased by the FERC’s considered and timely action,” said Thomas F. Farrell II, Dominion Energy chairman, president and CEO. “It brings us closer to providing a brighter energy future for customers, communities and others served by the SCANA companies. We will continue working toward achieving the other required regulatory approvals and completing our transaction by the end of this year.”
Dominion announced the merger agreement in January in the wake of a failed multi-billion dollar nuclear project that SCE&G shared with state-owned utility Santee Cooper.
SCE&G is a subsidiary of SCANA.
The merger between Dominion and SCANA still needs to be approved by SCANA's shareholders, the public service commissions in North and South Carolina, and authorization by the Nuclear Regulatory Commission.