Are you really getting $1000 back?
Tyler Ryan learns about the real Dominion deal from the horses mouth
COLUMBIA SC (WOLO)-With the closing of the VC Summer plant came a wave of impact, from a large hit in the local economy of Jenkinsville, to the larger surrounding community with state-wide implications. This is coupled with hearings, investigations, and speculation into what led to the shutdown of the project, which essentially saw the loss of billions of SCE&G rate payers dollars.
As the questions roll on, Dominion Energy, a mid-Atlantic based power company has stepped in with an offer to purchase SCANA, including the nearly $7 billion debt that the company holds. This purchase offer includes the potential of a rebate of sorts for current and past SCE&G customers who have contributed to the VC Summer project through their power bills.
According to Dominion Energy Vice-President of Communication Chet Wade, the rebates, if approved by law makers, would be predicated on historical use. “The average rate payer will receive around $1,000,” according to Wade, who explains that someone who lives in a small apartment and doesn’t use much power would be eligible for less. He did point out that larger businesses and churches could receive “$100,000 to $2,000,000.”
Wade also said that not only current but past customers of the power company could be illegible for money back, as they helped fund the VC Summer Project.
Wade said that even if the sale is approved, a decision that could be made by the end of 2018, restarting the VC Summer project is not likely.
Hearings on the distribution of money to rate payers, as well the potential sale of the power company continue at the State House.