Nuclear Fallout: Scana and Dominion Propose $14.6 Billion Merger

By [email protected] In a monumental deal made public on Wednesday, Dominion Energy and Scana Corporation announced a conditional merger that would roll debt from the failed V.C. Summer nuclear project into one of the country’s largest utilities.

Under the merger, Scana investors would get two-thirds of a Dominion share for every Scana share. The share swap, plus debt, amounts to $14.6 billion.

The deal adds over a million customers to the Dominion empire, extending its reach to 6.5 million customers in 18 states.

If approved, Dominion says it plans to cut electricity rates in South Carolina Electric & Gas service territory by 5 percent,

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