Many of our legislators and other entities seem interested only in getting back the ratepayers’ (voters’) money that went into the V C. Summer project — without regard to the consequences, including driving SCANA into bankruptcy. No one seems to recognize the catastrophic impact of a SCANA bankruptcy on the state, communities, employees, retirees, ratepayers and stockholders.
It may be possible for SCANA to avoid bankruptcy and pay back the ratepayers and its debt over a long period of time if it were to eliminate dividends, charitable donations, community initiatives and all other nonessential expenses. Again, I have seen no discussion of the consequences of this path or even if it is economically feasible.
The best resolution to this situation is to negotiate with Dominion Energy on the merger with SCANA.
As a gas ratepayer, stockholder and voter, I hope our legislators and regulators deal with this in a mature and thoughtful way in order to reach a resolution that considers all stakeholders.
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