SCANA official: SCE&G customers won’t receive $one,000 refund following Dominion mergerWIS #South_Carolina

SCANA official: SCE&G customers won’t receive $one,000 refund following Dominion mergerWIS #South_Carolina

February 11, 2019 0 By NewsTakers

Dominion Energy originally proposed a customer benefits plan in conjunction with the merger which included a one-time cash payment to SCE&G customers which would have meant $1,000 cash payment to the average residential customer.
“After listening to policymakers and other key participants, we developed and offered a plan to lower bills as much as we could while still providing equivalent or greater value for customers,” Rodney Blevins, president & chief executive officer of the Southeast Energy Group, which houses SCANA Corporation’s operating and services companies said.
We understand some customers will be disappointed that refund checks are not included in the final approved plan, but we believe customers and South Carolina will benefit from the lower payments.
Blevins added that SCE&G customers should be able to see some benefits from the merger in the February billing cycle to include the following:
Typical residential electric customers using 1,000 kilowatt-hours per month will see their bills drop from the current temporary level of $125.34 per month to $124.91 per month.
This decrease places into effect bills that are now 15 percent below levels that were in effect in January 2018 prior to the temporary experimental reduction under Act 258 of the South Carolina General Assembly.
The annual credit for 2019 has been applied to February bills.
This will include a one-time credit in February bills to pass on the benefits related to 2018.
Copyright 2019 WCSC.
All rights reserved.

Addison, who was the company’s finance chief during the nuclear project, will be embracing change, too. He will retire next month, making him eligible for a golden parachute triggered by the sale. His payout is worth an estimated $9.7 million, regulatory filings show.

That’s eight cents more than the Legislature’s temporary rate cut, which expires next month, and $1.70 more than Dominion’s previous of…

Source link