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Dominion CEO says Scana deal off if cost recovery for Summer plant repealed [Seeking Alpha]

NOW INC (DNOW)  More Company Research Source: Seeking Alpha
Last now inc earnings: 5/2 06:45 am Check Earnings Report
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PDF Dominion CEO says Scana deal off if cost recovery for Summer plant repealedDominion Energy (D+0.4%) CEO Thomas Farrell told South Carolina lawmakers yesterday that hewould withdraw the company's proposal to buy Scana (SCG+0.5%) if legislators prevent it from recovering costs for the failed V.C. Summer nuclear project through ratepayers.Farrell said the deal would be off if lawmakers retroactively repeal the Base Load Review Act, the 2007 law that allowed SCG and its partners to recover costs for the now-canceled plant.The CEO bluntly warned that SCG could face bankruptcy if it does not accept Dominion's acquisition offer, saying "their cost of capital will explode. They will become the weakest utility in the United States. I believe that quite firmly."Click to subscribe to real-time analytics on DNow read:Dominion Energy: No Appeal Despite Well-Timed SCANA Deal » [Read more]

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