SCANA’s sale could be costly to local people.
Up to 600 SCANA employees could lose their jobs if Dominion Energy buys the Lexington County-based power company.
This is in addition to the …
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SCANA’s sale could be costly to local people.
Up to 600 SCANA employees could lose their jobs if Dominion Energy buys the Lexington County-based power company.
This is in addition to the 5,000 workers who lost their jobs when SCANA abandoned its $9 billion nuclear project last year.
This number came from Lane Kollen, an SC Office of Regulatory Staff witness at a Public Service Commission hearing last week.
Kollen’s estimate of about 1/3rd of SCANA services’ 1,700 employees – or 560 to 600 – would be let go, based on what Dominion has done in other buy outs.
Dawn Hipp of ORS said these jobs would be in administration, human resources, purchasing and similar functions.
“It would be unfortunate if 600 Lexington County jobs were sacrificed so Dominion can buy SCANA when there is a way that won’t exact a price on our economy,” said Frank Knapp, CEO of the Small Business Chamber of Commerce and an intervenor.
Knapp was referring to a plan to block SCANA from charging ratepayers a 10% profit on loans and income tax. He explains how this works on Page A13.
Dominion had indicated earlier that it would let go a “few” executives in merging the 2 power companies.
Kollen testified he did not agree it is best for everyone if Dominion buys SCANA.
Public Service Commissioner Elliott Elam of Lexington asked Kollen how Dominion might cut costs to help local ratepayers.
• Much of the operating cost savings would come at the expense of jobs at SCANA, which owns SC Electric & Gas.
• SCE&G does not need to file for bankruptcy as its executives threatened.
• SCANA’s interest costs would not rise significantly should commissioners approve the ORS proposal.
• Commissioners could approve an ORS proposal to cut rates 20.93% without bankrupting SCE&G.
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