Public Service Commission approves merger, reduces rates

Columbia, S.C. (WOLO)–Following months of testimony, the Public Service Commission voted Friday to reduce rates for SCE&G customers by 9.9%  and to approve the proposed merger with Virginia-based utility Dominion Energy.

The decision comes as the culmination of the July decision to abandon construction at the VC Summer nuclear facility.

Commissioners said they had to follow the Base-Load Review Act in reaching their decision which calls for rate-payers to cover the loss at VC Summer.

A spokesperson for Dominion Energy says with the merger, rate-payers will see lower power bills, however, the previously offered $1,000 refund check is no longer part of the merger.

Governor Henry McMaster released a statement following the decision

“Since we learned of SCANA and Santee Cooper’s decision to abandon the VC Summer Project, my goal has been to ensure that the customers bear no burden for the failings of others. The Public Service Commission – which I am confident has vigorously sought to make the best of a bad situation – has conducted a transparent, open process and has carefully deliberated the positions of ratepayers, the power companies, and the court.

“Our goal now must be to learn from these failures, to never repeat them, and to continue to work diligently for the growth and prosperity of South Carolina.”

In total, more than 720,000 customers will be affected by Friday’s decision.

Categories: Local News, News, State