A Conversation with Chet Wade, Dominion Energy

In early January, Dominion Energy and SCANA announced an agreement for the companies to combine in a stock-for-stock merger. The agreement calls for benefits to SCANA’s SCE&G electric customers to offset previous and future costs related to the withdrawn V.C. Summer Units 2 and 3 project. SCE&G customers would receive $1.3 billion in cash within 90 days of the completed merger and a 5% rate reduction. Dominion would also write-off $1.7 billion in capital and assets from the VC Summer. This would allow the the elimination of customer costs over 20 years instead of 50-60 years.

MidlandsBiz spoke with Chet Wade, Vice President of Corporate Communications about the merger.

The full interview is on audio.  A five minute version of the conversation is in video format.

Chet Wade, VP Corporate Communications, Dominion Energy from MidlandsBiz on Vimeo.