Dominion Energy, Inc. and SCANA Corporation have announced the completion of their proposed merger.
The merger between the two companies expands Dominion Energy's operations in Georgia and the Carolinas, where the company already operates an electric utility serving 120,000 customer accounts in northeastern North Carolina, a 1,500-mile interstate pipeline principally in South Carolina, and nearly 1,000 megawatts of gas, hydro and solar generating capacity in all three states.
Thomas F. Farrell, II, chairman, president and chief executive officer, said: “Dominion Energy is pleased to add SCANA's fast-growing, high-performing Southeastern businesses to our 18-state footprint. Together, we are committed to providing safe, dependable, affordable and clean energy to the communities served by SCANA and to maintaining its excellent record of reliability and customer service.”
“The addition of SCANA makes geographic sense and aligns well with our core, regulated energy businesses. These are well-run regulated operations that we expect will help improve Dominion Energy's risk profile and growth outlook.”
Jimmy Addison, chief executive officer of SCANA, said: “Today marks a significant milestone in the history of Dominion Energy and SCANA. Employees at our respective companies have been working hard for months on integration planning, and I am confident that will lead to a smooth transition. These two companies share common values, and this combination provides SCANA's businesses with the scale and stability to meet customers' growing energy needs in the years to come. I am particularly proud that despite the intense efforts that went into planning for the integration and attaining approval of the combination of the companies over the past year, employees across our three-state region maintained their focus on providing energy to our customers safely and reliably. We will now hit the ground running with Dominion Energy and embrace change.”