SC utility regulators gave Dominion Energy approval on Friday to buy SCANA in a multi-billion-dollar deal.
Dominion’s offer includes a $22 a month rate cut for customers of SCANA’s electric subsidiary, SCE&G. But it ensures those 730,000 customers will pay another $2.3 billion or $1,600 for the average household over the next 20 years for V.C. Summer’s failed nuclear construction project.
With the Dominion – SCANA merger approved Dominion will now deliver energy to approximately 6.5 million regulated customer accounts and have an electric generating portfolio of about 31,400 megawatts and 93,600 miles of electric transmission and distribution lines. The real victory here for Dominion is that will now have a natural gas pipeline network totaling 106,400 miles and be operating one of the nation’s largest natural gas storage systems with 1 trillion cubic feet of capacity.
As a side note but somewhat related is the Atlantic Coast Pipeline. It is an ~600 mile pipeline project designed to bring ~1.5 billion cubic feet per day of natural gas from the Utica and Marcellus shale formations in Pennsylvania, West Virginia, and Ohio to customers in Virginia and North Carolina. However, during the SCANA-Dominion merger talks with the SC PSC one of the Dominion executives indicated that if the merger was approved the pipeline might be extended into South Carolina. Dominion Resources will be the operator of the pipeline when it is completed although it is a partnership between Dominion, Duke Energy, and Southern Company.