SCANA
| Company type | Public |
|---|---|
| Industry | Electric and natural gas utility |
| Predecessor | Broad River Power Company |
| Founded | 1924 |
| Defunct | 2019 |
| Fate | Acquired by Dominion Energy |
| Headquarters | Cayce , United States |
Area served | South Carolina, Georgia, North Carolina |
| Products | Electric power, natural gas |
| Owner | Dominion Energy (since 2019) |
SCANA Corporation was a regulated American utility company specializing in electric and natural gas services, headquartered in Cayce, South Carolina. The company faced significant operational difficulties after its stock value plummeted due to the Nukegate scandal. In January 2019, SCANA was purchased by Dominion Energy. The name SCANA originated from an abbreviation of South Carolina.
Its energy production portfolio was diverse, consisting of four hydroelectric facilities, one pumped-storage hydroelectric station, four coal-powered plants, the Virgil C. Summer Nuclear Generating Station, a combined cycle facility, a natural gas steam unit converted from previous operations, two combined cycle units, and sixteen simple cycle combustion turbines, delivering a total capacity exceeding 5,800 MW.
History
The roots of SCANA date back to 1846 with the establishment of the Charleston Gas Light Company.[1] The corporate entity began in 1924 as Broad River Power Company, which acquired electric and gas assets from Columbia Railway, Gas and Electric Company in 1925.[2] It was renamed South Carolina Electric & Gas Company (SCE&G) in 1937,[2] and grew through acquisitions such as Lexington Water Power Company in 1942—owner of the Saluda Dam responsible for creating Lake Murray—and South Carolina Power Company in 1948.[3]
In 1984, SCE&G restructured into a holding company named SCANA, with SCE&G as its main subsidiary.
Key divestitures included the sale of Scana Petroleum Resources Inc. for $110 million in 1997,[4] and retail propane operations for $86 million in 1999.[5] SCANA expanded its footprint by acquiring Public Service of North Carolina for $673 million in 2000,[6] and later added approximately 50,000 retail natural gas customers from Energy America in Georgia in 2004.[7]
Carolina Gas Transmission, an interstate natural gas pipeline established in 2006 and regulated by FERC, was sold to Dominion Resources for $492.9 million in 2015.[8] That year also saw the sale of SCANA Communications—which managed fiber optic networks across South Carolina and parts of North Carolina and Georgia—to Spirit Communications for $150 million.[9]
Following a $9 billion investment to expand the Virgil C. Summer Nuclear Generating Station with two AP1000 reactors, SCE&G halted the project in July 2017 due to Westinghouse Electric Company's bankruptcy.[10] This event triggered lawsuits and regulatory scrutiny. The company suggested substituting the intended nuclear output with gas-fired and solar generation assets while shareholders bore the financial burden.[11]
In May 2018, SCANA acquired the Columbia Energy Center—a natural gas power plant located in Gaston, South Carolina—for $180 million to compensate for the lost nuclear capacity.[12]
Dominion Energy finalized its acquisition of SCANA in January 2019,[1] and by March that year, the SCANA brand was officially retired.
Divisions
South Carolina Electric & Gas Company (SCE&G) supplied electricity to nearly 719,000 clients spanning 16,000 square miles across 24 counties in South Carolina. Additionally, it served roughly 368,000 natural gas customers throughout all 35 counties within a 23,000 square mile area.
SCANA Energy, with its headquarters located in Atlanta, Georgia, ranked as the second-largest natural gas marketer in Georgia, catering to over 425,000 customers. Its regulated branch, SCANA Energy Regulated Division, was recognized by the Georgia Public Service Commission as the exclusive regulated natural gas provider in the state.
Public Service North Carolina Energy (PSNC Energy), operating out of Gastonia, North Carolina, provided natural gas services to approximately 563,000 customers across 28 counties covering 12,000 square miles. As a regulated utility, its operations included the acquisition, transportation, distribution, and sale of natural gas.