Your source for construction industry news in the Carolinas
Acting United States Attorney M. Rhett DeHart announced today that Kevin B. Marsh, 66, former SCANA Corporation (SCANA) Chief Executive Officer and Chairman of the Board of Directors, was sentenced to two years in federal prison after pleading guilty to conspiracy to commit mail and wire fraud. Evidence presented to the Court showed that Marsh…
GroundBreak Carolinas Guest Column This is a critical week in deciding which path South Carolina takes on a vital question of economic and energy policy. Will the state Senate support a permanent solution to the new nuclear failure at the V.C. Summer plant or go with a temporary action that could be damaging in the…
Dominion Energy, Inc. (NYSE: D) and SCANA Corporation (NYSE: SCG) today announced an agreement for the companies to combine in a stock-for-stock merger in which SCANA shareholders would receive 0.6690 shares of Dominion Energy common stock for each share of SCANA common stock, the equivalent of $55.35 per share, or about $7.9 billion based on Dominion…
As the sage of the failed V.C. Summer nuclear plant continues to unfold, South Carolina Governor Henry McMaster sent a letter to Kevin Marsh, Chairman and CEO of SCANA Corporation, requesting that the parent company of SCE&G “to immediately cease” its collection of approximately $37 million per month from South Carolina ratepayers for the costs…
South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (SCANA) (NYSE: SCG), announced today that it will voluntarily withdraw its Abandonment Petition from the Public Service Commission of South Carolina that was made under the Base Load Review Act (BLRA) concerning SCE&G’s new nuclear project. Over the past two weeks, SCE&G management…
The Santee Cooper Board of Directors approved today the suspension of construction of Units 2 and 3 at V.C. Summer Nuclear Station in Jenkinsville, SC. The decision is anticipated to save Santee Cooper customers nearly $7 billion in additional costs to complete the project, including projected interest during construction. The decision to suspend construction is based…
South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (SCANA) (NYSE: SCG), and Santee Cooper, have entered into a definitive agreement with Toshiba Corporation (Toshiba) for Toshiba to pay $2.168 billion ($1.192 billion to SCE&G for its 55% and $0.976 billion to Santee Cooper for its 45% project ownership) in full satisfaction…
According to Reuters, the owners of one of the first new U.S. nuclear power plants in decades said the half-finished reactors might not be completed without changes to a proposed $800 million loan to the bankrupt builder, Westinghouse Electric Co LLC. A unit of Toshiba Corp, Westinghouse has asked a U.S. bankruptcy judge in Manhattan…
Westinghouse Electric Company and South Carolina Electric & Gas Company (SCE&G), the principal subsidiary of SCANA Corporation (NYSE: SCG), have received the Dispute Resolution Board’s (DRB) decision on the construction milestone payment schedule for the two nuclear construction projects at V.C. Summer Station in Jenkinsville, S.C. Following a hearing on Nov. 9, Westinghouse submitted its…
