RICHMOND, Va. and CAYCE, S.C., Nov. 19,
2018 /PRNewswire/ -- The proposed combination of
Dominion Energy, Inc. (NYSE : D) and SCANA Corporation (NYSE
: SCG) has received the approval of the North Carolina
Utilities Commission. It is the sixth of seven approvals necessary
to close the merger.
The merger previously received approval from SCANA's
shareholders, the Federal Energy Regulatory Commission, the Georgia
Public Service Commission, the Nuclear Regulatory Commission and
early termination by the Federal Trade Commission of the 30-day
waiting period under the federal Hart-Scott-Rodino Antitrust
Improvements Act. The merger remains contingent upon approval from
the Public Service Commission of South
Carolina, which has been holding evidentiary hearings since
Nov. 1, 2018. A decision is expected
by Dec. 21, 2018.
If the combination is completed, as expected, around the end of
the year, the combined company would deliver energy to
approximately 6.5 million regulated customer accounts and have an
electric generating portfolio of about 33,000 megawatts and 93,600
miles of electric transmission and distribution lines. It also
would have a natural gas pipeline network totaling 106,400 miles
and operate one of the nation's largest natural gas storage systems
with 1 trillion cubic feet of capacity.
About Dominion Energy
Nearly 6 million customers in 19 states energize their homes and
businesses with electricity or natural gas from Dominion Energy,
headquartered in Richmond, Va. The
company is committed to sustainable, reliable, affordable, and safe
energy and is one of the nation's largest producers and
transporters of energy with nearly $80
billion of assets providing electric generation,
transmission and distribution, as well as natural gas storage,
transmission, distribution, and import/export services. As one of
the nation's leading solar operators, the company intends to reduce
its carbon intensity 50 percent by 2030. Through its Dominion
Energy Charitable Foundation, as well as EnergyShare and other
programs, Dominion Energy plans to contribute more than
$30 million in 2018 to community
causes throughout its footprint and beyond. Read about Dominion
Energy and visit us on Facebook or Twitter.
About SCANA
SCANA Corporation, headquartered in
Cayce, S.C., is an energy-based
holding company principally engaged, through subsidiaries, in
electric and natural gas utility operations and other
energy-related businesses. Information about SCANA and its
businesses is available on the company's website
at www.scana.com.
Forward-looking statements
This release contains statements that constitute forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. The statements relate to,
among other things, expectations, estimates and projections. We
have used the words "anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "plan," "outlook," "predict," "project,"
"should," "strategy," "target," "will," "would," "potential" and
similar terms and phrases to identify forward-looking statements in
this release. Factors that could cause actual results to differ
include, but are not limited to: the expected timing and likelihood
of completion of the proposed acquisition of SCANA; the risk that
Dominion Energy or SCANA may be unable to obtain necessary
regulatory approvals for the transaction or required regulatory
approvals may delay the transaction or cause the parties to abandon
the transaction; the risk that conditions to the closing of the
transaction may not be satisfied; or the risk that an unsolicited
offer for the assets or capital stock of SCANA may interfere with
the transaction. Other risk factors for Dominion Energy's and
SCANA's businesses are detailed from time to time in Dominion
Energy's and SCANA's quarterly reports on Form 10-Q or most recent
annual report on Form 10-K filed with the Securities and Exchange
Commission (SEC).
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SOURCE Dominion Energy