COLUMBIA, SC (WIS) - With shareholders voting to approve the merger between SCANA and Dominion on Tuesday, officials with Dominion were very happy with the shareholders' decision.
However, there are still a few things must be done before Dominion can move forward. According to Chet Wade, Dominion's Vice President of Corporate Communications, there are still some big hurdles to overcome before the deal is closed.
"Here in South Carolina, obviously, we need the Public Service Commission and that will be something that will come up later this year," Wade said. "We are working with North Carolina, which also needs to approve it and the Nuclear Regulatory Commission and we already have some important federal and other state approvals. So, we're progressing, we're continuing to communicate and educate people about our proposal and we remain very confident that we will be able to make this happen."
Dominion has touted a refund for customers based on the amount of electricity they've used in the past. However, Wade said customers would also receive another benefit once the merger is completed.
"We would take on another $1.7 billion in what's been spent on V.C. Summer and not only end their rates, but we would absorb that so that it never affects their rates again," Wade explained. "So, it's really cash back, lower rates, and protection against future rate increases."
At this point, none of these items are finalized. All of it could change based on the outcome of a two-day federal hearing that took place in Columbia this week.