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Public Service Commission approves Dominion property request

Staff Report //January 13, 2020//

Public Service Commission approves Dominion property request

Staff Report //January 13, 2020//

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The S.C. Public Service Commission has approved a request by Dominion Energy South Carolina to transfer property to meet financial obligations stemming from the settlement of a lawsuit involving abandoned nuclear reactors at the V.C. Summer nuclear station.

Dominion Energy South Carolina asked the commission to approve real estate transfers under terms of the Lightsey v. SCE&G settlement, which provided rebate checks to ratepayers who were billed for construction of the abandoned reactors. Dominion requested permission to transfer real property to meet the financial obligations of the settlement, which will distribute portions of $146 million to current and former S.C. Electric & Gas customers.

In late 2019, $60 million was distributed in either direct payments or utility bill credits to ratepayers of SCE&G, now a Dominion subsidiary.

The properties in question are on Shakespeare Road and Freshy Shoals/Pollys Summer roads in Richland County. The Freshly Shoals/Pollys Summer property has a swap value of $1 million, while the swap value of the Shakespeare Road property is $3 million, according to the PSC filing.

The transfer will maximize cash benefits to ratepayers, the PSC docket said.

A consent order was signed this past December to establish procedures to swap properties under the direction of the S.C. Office of Regulatory Staff.

Dominion Energy also asked that certain transfers requirements be waived, including a bid requirement and a subdivision requirement.

The commission voted unanimously to approve the request, with one commissioner recusing herself.