SCANA Calls Special Shareholder Meeting for Vote on Proposed Dominion Merger

摘要

South Carolina-based utility SCANA Corp. has called a special meeting of its shareholders to vote on a proposed merger with Dominion Energy. SCANA said the meeting, which is to “consider and vote” on the all-stock buyout offer from Virginia-based Dominion, is scheduled for July 31— exactly one year after state-owned utility Santee Cooper canceled the partially completed project to build Units 2 and 3 at the V. C. Summer Nuclear Station. (SCANA and Santee Cooper were joint partners in the project.) Under terms of the Dominion proposal, a nuclear surcharge imposed by law in 2007, would be lowered from 18 to 11 percent over the next seven years and from 11 percent to zero over the next 12 years. Dominion’s offer also includes US$1.3 billion in cash payments to all electric customers of SCANA subsidiary South Carolina Electric & Gas within 90 days of closing the deal.