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$2 billion settlement for electricity customers who were charged for failed nuclear project

Daily Mail 25th Nov 2018 Troubled utility SCANA has reached a $2 billion settlement with the South Carolina customers who sued after they were charged high rates to pay for the company’s failed nuclear construction project. SCANA announced the agreement in a news release Saturday. As part of the settlement, South
Carolina Electric & Gas Co. customers will also receive $115 million that The State newspaper reports had been set aside for soon-to-be-ousted SCANA executives.
Before the settlement can be finalized, it must receive the approval of a judge and the S.C. Public Service Commission must also approve Virginia-based Dominion Energy’s proposed buyout of SCANA, SCE&G’s parent company. Santee Cooper and South Carolina Electric & Gas Co. abandoned the V.C. Summer Nuclear Station expansion project near Columbia in 2017 following the bankruptcy of lead contractor Westinghouse.
https://www.dailymail.co.uk/wires/ap/article-6425773/Utility-reaches-2B-settlement-failed-nuclear-plants.html
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November 25, 2018 - Posted by | Legal, USA

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