Statement by Thomas F. Farrell, II Dominion Energy Chairman, President & CEO in response to South Carolina Conference Committee Action June 27, 2018
RICHMOND, Va., June 27, 2018 /PRNewswire/ -- "The South Carolina Legislature is playing a high-stakes game where they are gambling with the money of customers and taxpayers. Legislators are risking cash payments to SCE&G's electric customers of $1.3 billion – equal to $1,000 for the typical residential customer – and a permanent rate reduction of 7 percent. They are jeopardizing total customer benefits of more than $12 billion and another $19 billion in economic activity. And, they are promoting continued turmoil for South Carolina's energy and business future. All of this for a few headlines and a temporary rate reduction that has good odds of being overturned in court. It is a disappointing and short-sighted action that is counter to the best interests of South Carolina and its people."
SOURCE Dominion Energy