A partnership between Dominion Energy and SCANA makes sense because it would benefit all parties, providing certainty and a path forward.
Dominion Energy would provide significant financial relief for electric customers now paying for the uncompleted new nuclear units—and for communities, it would mean holding on to a community partner that would have more resources to meet new and changing energy needs.
Dominion Energy’s proposals offer immediate and long term rate relief. Additional customer savings are planned to come from the resolution of the nuclear build issues, meaning all customer costs would decline until they disappear in 20 years rather than the currently scheduled 50-to-60 years.
This agreement includes a more than $1.7 billion write-off of existing V.C. Summer 2 and 3 capital and regulatory assets, which would never be collected from customers. This allows for the elimination of all related customer costs over 20 years instead of over SCANA’s proposed 50-60 years.
SCANA employees would have compensation protection until 2020. Dominion Energy also would maintain southern headquarters in Cayce, South Carolina, continuing to be an economic driver for the state and region.
Investing in our communities is a Dominion Energy core value. Dominion Energy would not only maintain SCANA’s philanthropic efforts, but would increase that charitable giving by an additional $1 million a year for at least five years.