More testimony was given Tuesday during a South Carolina Public Service Commission (PSC) hearing on the future of utility company SCANA.
Kevin O’Donnell, a witness for industrial customers of South Carolina Electric & Gas, told commissioners that other energy utilities besides Virginia based Dominion Energy may be interested in buying SCE&G’s parent company SCANA.
“I would be very, very, surprised if Duke wasn’t interested as well,” he said. “Duke’s service territory in here in South Carolina. “NextEra is here, but I think there will probably be others as well.
The PSC hearing is to determine whether customers or SCE&G should be on the hook for nearly $5 billion in debt from an ill-fated nuclear expansion project. The commission will also need to set permanent power rates for SCE&G going forward.
SCE&G and its state-owned partner Santee Cooper decided in July 2017 to abandon the project due to costs.
SCANA officials have previously said Dominion was the only reasonable offer they received. The utility worries its investor stock could decline to “junk bond” status if it lacks the means to pay back the nuclear debt.