PRESS RELEASE
Date: January 2, 2019
From: South Carolina Small Business Chamber of Commerce
Subject: Done Dominion Deal Frees PSC to Correct Errors in Order
Contact: Frank Knapp, President/CEO, 803-252-5733 (w), 803-600-6874 (c),
fknapp@scsbc.org
Done Dominion Deal Frees PSC to Correct Errors in Order
Appeals can be heard without merger concerns
Columbia, SC—Today, Dominion Energy completed its purchase of SCANA, SCE&G’s parent company. Frank Knapp, president and CEO of the South Carolina Small Business Chamber of Commerce, was a pro se intervenor in the recent Public Service Commission (PSC) hearing regarding cost recovery of SCE&G’s failed nuclear project and Dominion’s proposed acquisition. The PSC’s December 21st Order mandates that SCE&G customers pay $2.3 billion of the nearly $5 billion the company spent on the abandoned nuclear plants in Fairfield County. The PSC also approved Dominion buying SCANA/SCE&G.
Mr. Knapp and four other parties in the recent hearing have filed petitions asking the PSC to rehear or reconsider their Order to correct well-documented errors that hurt customers.
“With Dominion finalizing its purchase of SCE&G, the PSC can correct its errors in its Order without being concerned that they will make Dominion walk,” said Mr. Knapp. “As I said in my appeal to the PSC, in their ruling the Commissioners clearly showed that they did not want to do anything that would cause Dominion not to buy SCE&G. With that issue being now off the table, the PSC should get back to watching out for the ratepayers and correct numerous errors in their Order.”
Ten times in its Order the PSC cited the protection of the Dominion takeover of SCE&G as the priority over their decisions.
Correcting just one of the Commissioners’ errors, as Mr. Knapp cites in his petition, would result in SCE&G customers getting credit for almost $400 million they have already paid for the financing costs for construction expenses the PSC has ruled the utility cannot collect from ratepayers.
“This illogical decision must be reversed,” said Mr. Knapp. “Doing so will give ratepayers the additional rate cut that they deserve.”
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