Dominion Energy/SCANA Merger Achieves Another Key Milestone
SCANA (SCG)
Last scana earnings: 10/25 07:30 am
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Source: PR Newswire
RICHMOND, Va. and CAYCE, S.C., Sept. 4, 2018 /PRNewswire/ -- The proposed combination of Dominion Energy, Inc. (NYSE: D) and SCANA Corporation (NYSE: SCG) has achieved another significant milestone. The U.S. Nuclear Regulatory Commission (NRC) has approved the indirect transfer of the Operating License for V.C. Summer Unit 1 and of the Combined Licenses (COLs) for V.C. Summer Units 2 and 3 from SCANA's wholly owned subsidiary, South Carolina Electric & Gas (SCE&G), to Dominion Energy. This constitutes one of several regulatory approvals required by the merger agreement between the two companies. The NRC has not yet acted on SCE&G's request to terminate the COLs for Units 2 and 3, but such action is not required under the merger agreement. SCE&G abandoned the nuclear construction project in July 2017. Dominion Energy has no plans to complete the project if the merger closes.The merger previously received approval from SCANA's shareholders, the Federal Energy R
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