South Carolina regulators face billion-dollar decisions
COLUMBIA, S.C. (AP) — South Carolina regulators have a couple of billion-dollar decisions Friday.
The Public Service Commission will determine at a 1 p.m. meeting how much to cut rates for 737,000 South Carolina Electric & Gas customers who have already paid more than $2 billion for a pair of nuclear reactors abandoned during construction.
Regulators will also decide whether to approve a roughly $15 billion cash and stock bid from Virginia-based Dominion Energy to buy SCE&G’s parent company SCANA Corp.
It’s a pivotal point in the unraveling of South Carolina’s nuclear debacle which started in the summer of 2017 when privately-owned SCANA and its minority partner, state-owned Santee Cooper, gave up on the reactors they had spent a decade planning and building about an hour outside of Columbia.