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SCE & G and SCANA settle failed nuclear lawsuit

CAYCE, S.C. (WCBD) – Attorney's reached a settlement Saturday that could wrap up a lawsuit that's demanding refunds for South…

CAYCE, S.C. (WCBD) – Attorney’s reached a settlement Saturday that could wrap up a lawsuit that’s demanding refunds for South Carolina Electric and Gas customers after the failed V.C. Summer Nuclear project.

Plaintiffs Richard Lightsey, LeBrian Cleckley, and Phillip Cooper have reached an agreement with SCANA Corporation and South Carolina Electric & Gas Company to settle a lawsuit filed in the state Court of Common Pleas in Hampton County on behalf of themselves and current and former SCE & G electrical customers. The settlement addresses these clients’ claims and the Attorney General’s arguments related to the Base Load Review Act (“BLRA”). SCANA and SCE & G have agreed to a common benefit fund comprised of the following amounts, to be distributed to the class members:

  1. A credit of up to $ 2,000,000,000.00 in future electric rate relief will be in return for the benefit of the Common Benefit Fund in favor of class members over a period of time established in the proceeding pending before the Public Service Commission of South Carolina (the PSC)
  2. A cash payment of $ 1

    15,000,000.00, which will include the full value of the SCANA rabbi trust funded in January 2018 that was created in whole or in part for executive change-in-control payments

  3. Transfer of SCE & G owned real estate or sales proceeds from The sale of real properties, including among others, the Ramsey Grove Plantation; the original Charleston Gas & Light Building at 141 Meeting Street in Charleston; and certain Otarre properties in Cayce.

Distribution of any settlement funds is subject to court approval, as well as a final order by the PSC approving a merger between SCANA Corporation and Dominion Energy, and a closing of the proposed merger between the parties .

Affected current and former SCE & G customers will receive information regarding their rights under the settlement. Eligible settlement class members will receive compensation in the form of a bill credit or a payment of an amount to be distributed by a court-approved class action administrator.

Former United States Attorney, and lead counsel for the certified class, J. Preston Strom, Jr., at the United States Attorney, and Leadership Counselor. Had the following to say about the terms of this settlement:

“In reaching this agreement, we have been able to secure more than $ 2 billion in relief and accountability for the people of South Carolina. We thank the Attorney General’s office for their hard work throughout this case and especially in securing the return of funds set aside for executive bonus payments to the ratepayers. “

The State of South Carolina was represented in this matter by Attorney General Alan Wilson Class Counsel are J. Preston Strom, Jr., John R. Alphin, Jessica L. Fickling, Mario A. Pacella, and Bakari T. Sellers, or Strom Law Firm, LLC; Terry Richardson, Edward Westbrook, and Daniel S. Haltiwanger, or Richardson, Patrick, Westbrook & Brickman, LLC in Barnwell; Dan Speights and AG Solomons, III or Speights and Solomons at Hampton; J. Edward Bell of the Bell Legal Group, LLC, Georgetown; James L. Ward, Jr. , and Whitney B. Harrison or McGowan, Hood & Felder, LLC; Vincent Sheheen or Savage, Royall, & Sheheen, L.L.P .; and Gregory Galvin of the Galvin Law Group. SCE & G and SCANA are represented by David Balser and Jon Chally or King & Spalding LLP in Atlanta, GA; Leah B. Moody of the Moody Law Fi rm in rock hill, sc; and Jamie Becker and Bob Knowlton of Haynsworth Sinkler Boyd in Columbia, SC. ​​

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