According to South Carolina regulators, SCANA deliberately misled the governing bodies over the V.C. nuclear plants. The statement that “SCANA executives acted ‘imprudently'” came Monday, Jan 14 from the Public Service Commission (PSC). It has been out for over a year that the utilities maybe have acted knowing that the project would not come to completion, but still went forward, but this is the first time the PSC agreed to that sentiment.
What does this mean for you?
Because SCANA raised rates in their territory for all energy subscribers, the PSC is allowing Dominion to buyout SCANA (and its subsidiary SCE&G). That means that all the branding will change with time and Dominion will call the shots. They have already notified you with an email so there is no turning back now.
Does that affect your rates? Actually, that part has already happened. The state has forced SCEG to drop rates for all customers. Dominion will not decrease them more, but instead have the ability to raise them. In fact, that was part of the negotiation, and we, the rate payers, lost out in the guarantee that rates wont raise. It is my expectation that in months to come, rates will make a small, almost unnoticeable jump.
The outcome for solar
The number one reason why homeowners and business alike choose solar is for independence. Instead of being required to pay rates they cannot control, they know exactly what they can get from fixed price solar. This SCANNA-Dominion merger is further reason why being power independent. The more you learn about rate increases, executive bonuses and discounted buyout/mergers, the more you feel inclined to own your power and look at renewables. If you pay taxes, you can benefit from credits and incentives which translates into a lower cost of power.