Dominion Energy holds West Ashley drop-in

Dominion Energy holds West Ashley drop-in
February 25 17:35 2019 Print This Article

Dominion Energy held a drop-in Monday to greet its new electrical customers at The Schoolhouse in West Ashley. The company completed its merger with SCANA Corporation in early January. It has provided natural gas to SCE&G customers since 2015. The Richmond-based utility now serves 7.5 million electricity and natural gas customers in 18 states.

The state Public Service Commission approved the merger in December. It chose a plan which reduced electric rates by 15% rather than an earlier plan to reduce rates 7% plus send out customer rebates. No rate increase will be requested before 2021. As the result of the merger, the average residential electric customer will see average monthly electric bills drop from $147 to $125. Customers received bill credits in February passing along Dominion Energy corporate income tax savings from 2018 related to the Tax Cuts and Jobs Act of 2017.

The reduced rates will result in $4.5 billion in customer benefits over time. Dominion Energy also retired $1.7 billion in debt accumulated by SCANA during a failed project to add two nuclear reactors at the V.C. Summer plant, located about 20 miles north of Columbia. Former SCANA employees will be retained at least until July 1, 2020. Shares of SCANA stock have already been converted to Dominion Energy stock.

Dominion Energy is noted for being friendly to armed forces veterans, filling at least 20% of its open positions with vets. It has also been rated one of the most admired companies in America. The utility also has a strong commitment to philanthropy and plans to donate at least $4 million a year to charitable causes in its new service area.