Columbia, SC (WLTX) - The announcement of the merger between SCANA Corporation and Dominion Energy has raised some concerns about the future of the Base Load Review Act (BLRA).
The BLRA is a law that allows utility companies to raise rates for customers in order to pay for projects.
SCANA used the BLRA to increase rates for South Carolina Electric & Gas customers in order to pay for the failed nuclear project at the V.C. Summer plant.
Over the summer, lawmakers worked to find bills that could change the current law.
"It's important that they be made, but it's also important that the money be refunded to the people of the state," says Governor Henry McMaster. "They have paid money in over about seven years and they need to get that money back."
A spokesman for Dominion Energy explained in a statement that a change in the BLRA will not impact their deal going forward:
“We want to ensure that everyone has a clear understanding of our position on the South Carolina Base Load Review Act (BLRA) relative to our proposed merger with SCANA. We appreciate the interest of legislators and others in wanting to amend the legislation regarding future utility projects. Repealing the law for future projects would still allow our merger to move forward and bring with it billions of dollars of benefits to SCE&G electric customers, including a cash payment of $1,000 for an average residential customer and a 5 percent rate reduction.”