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SCANA Corporation
Company typePublic
NYSE: SCG
S&P 500 Component
IndustryUtilities
PredecessorSouth Carolina Electric & Gas Company
Carolina Energies
Founded1924
HeadquartersCayce, South Carolina, United States
Key people
Jimmy E. Addison (CEO)[1]
Number of employees
5,877 [2]
Websitescana.com

SCANA Corporation is a $5 billion energy-based holding company, based in Cayce, South Carolina, a suburb of Columbia. Its businesses include regulated electric and natural gas utility operations and other energy-related businesses. SCANA's subsidiaries serve approximately 662,000 electric customers in South Carolina and more than one million natural gas customers in South Carolina, North Carolina and Georgia. The corporate name SCANA is not an acronym, but is taken from the letters in South Carolina (S [outh]-C-A-[roli] N-A).[3][4] In January 2018, Reuters reported that Dominion Energy will buy SCANA Corporation for $7.9 billion.[5]

History

South Carolina Electric & Gas Company

South Carolina Electric & Gas Company (SCE&G), SCANA's leading subsidiary, traces its history to 1846, when a group of Charleston business leaders formed the Charleston Gas Light Company. However, its corporate structure dates to 1924, with the formation of Broad River Power Company. A year later, Broad River bought the electric and gas properties of Columbia Railway, Gas and Electric Company.[3]

In 1927, the Lexington Water Power Company received a license to build a dam on the Saluda River northwest of Columbia. Saluda Dam, which would create the 50,000-acre (202 km2) Lake Murray, was the largest man-made barrier built for power production in the world when completed in 1930. In addition, the project provided jobs during the Great Depression.[3]

In 1937, the Broad River Power Company changed its name to South Carolina Electric & Gas Company. Five years later, Lexington Water Power Company merged with SCE&G. This was followed in 1948 with the acquisition of South Carolina Power Company, successor to Charleston Gas Light, from the Southern Company. In 1984, SCE&G formed SCANA as a holding company.

Today, SCE&G is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 661,000 retail and wholesale customers in a service area covering more than 17,000 square miles (44,000 km2) in the central, southern and southwestern portions of South Carolina. The company is also engaged in the purchase and sale of natural gas, primarily at retail, to approximately 314,000 customers in a service area covering more than 22,000 square miles (57,000 km2)--most of the state outside of the Upstate and the South Carolina portion of the Charlotte area.

SCE&G currently operates 4 hydroelectric plants, 1 pumped-storage hydroelectric plant, 4 coal-fired plants, 1 nuclear plant, 1 combined cycle power plant, 1 "re-powered" formerly coal-fired plant with a natural gas-powered steam unit and two combined cycle units, and 16 simple cycle combustion turbines. The total output is over 5,800 MW.[6]

In July 2017 SCE&G abandoned the construction of two additional AP1000 units at the Virgil C. Summer Nuclear Generating Station following the bankruptcy of the Westinghouse Electric Company, after having spent $9 billion on construction so far.[7] Following this, some investors and ratepayers filed lawsuits against SCE&G, and some federal and state agencies started investigations.[4][8] SCE&G has proposed replacing the nuclear capacity with gas and solar generation. The company's shareholders would absorb the costs of the abandoned nuclear plant, and customer charges will revert to pre-nuclear project rates.[9] In January 2018, Reuters reported that Dominion Energy will buy SCANA Corporation for $7.9 billion.[5]

Subsidiaries

Carolina Gas Transmission

Formed in November 2006, CGTC is an interstate natural gas pipeline in South Carolina and Georgia regulated by the Federal Energy Regulatory Commission. Its predecessors were the South Carolina Pipeline Company and SCG Pipeline Company. CGTC receives gas from Southern Natural Gas Company, Transcontinental Gas Pipe Line Corporation and the Southern LNG terminal at Elba Island, Georgia.

In February 2015, Carolina Gas Transmission was sold to Dominion Resources, and is no longer a part of the SCANA family of subsidiaries

PSNC Energy

PSNC Energy (Public Service North Carolina Energy) is a regulated public utility engaged primarily in purchasing, transporting, distributing and selling natural gas to approximately 535,000 customers in the north central, Piedmont and western areas of North Carolina. The service area encompasses 28 counties and covers approximately 12,000 square miles (31,000 km2) in North Carolina. Its headquarters is in Gastonia, North Carolina.

SCANA Energy Marketing, Inc (SEMI)

SCANA Energy Marketing, Inc. markets natural gas to over 500 industrial and commercial customers, municipalities, power producers and aggregators, primarily in the Southeast.

SCANA Energy

SCANA Energy (a division of SCANA Energy Marketing, Inc.), based in Atlanta, is the second largest marketer of natural gas in Georgia, serving more than 460,000 customers. SCANA Energy, along with Gas South, Infinite Energy, and Georgia Natural Gas are amongst the major gas providers in Georgia.[10] SCANA Energy also has a regulated unit, SCANA Energy Regulated Division, selected by the Georgia Public Service Commission to serve as the state’s only regulated natural gas provider.

SCANA Communications

SCANA Communications claims to offer a wide range of "leading edge communications solutions"[clarification needed] in South Carolina, North Carolina and Georgia. The company operates fiber optic LONG-HAUL and ACCESS networks throughout South Carolina and in parts of North Carolina and Georgia, and leverages the fiber[clarification needed] of its partners, Palmetto Net and FRC, which are regional Interexchange carriers.

SCANA Communications also offers clients with Point-of-Presence (POP) equipment co-location at designated sites along the fiber route and has a state-of-the-art data center in downtown Columbia, South Carolina.[citation needed] In addition, the company offers a full suite of communication tower services designed to meet the needs of both fixed and mobile wireless providers. Services include site acquisition, zoning support, build-to-suite, site management of existing towers, shared tenant co-location, and fiber backbone access.

Customers include telecom carriers and large retail businesses, including all of the major long distance and cellular carriers.[citation needed]

In February 2015, SCANA Communications was sold to Spirit Communications, and is no longer a part of the SCANA family of companies.

References

  1. ^ SCANA Corporation. "Company Profile-Leadership". Retrieved 2018-03-07.
  2. ^ "2010 Notice of 10K Filing" (PDF) (Press release). SCANA Corporation.
  3. ^ a b c SCANA Corporation. "Company Profile-History". Archived from the original on November 3, 2006. Retrieved 2008-09-14. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  4. ^ a b Fretwell, Sammy (27 September 2017). "Is nuclear fiasco beginning of the end for SCANA?". The State. Retrieved 29 September 2017.
  5. ^ a b Swamynathan, Yashaswini (January 3, 2018). "Dominion Energy to buy Scana Corp in $7.9 billion deal". Reuters. London: Thomson Reuters. Retrieved January 3, 2018.
  6. ^ http://www.sceg.com/en/about-sceg/
  7. ^ Fretwell, Sammy (1 August 2017). "SCE&G customers shouldn't expect refunds for abandoned nuclear project". The State. Retrieved 2 August 2017.
  8. ^ McDermott, John (27 September 2017). "SCANA investor sues executives, board over failed South Carolina nuclear project". The Post and Courier. Retrieved 29 September 2017.
  9. ^ "SCE&G proposes gas, solar for Summer replacement". World Nuclear News. 17 November 2017. Retrieved 19 November 2017.
  10. ^ "Compare Fixed Rate Gas Plans | GasGeorgia". www.gasgeorgia.com. Retrieved 2016-04-15.
  • SCANA official website
  • Business data for SCANA:
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