SCANA Corp on Wednesday completed its assimilation into Dominion Energy (D), with the proposed merger bringing together consumers from Georgia, North Carolina and South Carolina.
Dominion CEO Thomas F. Farrell, II, said, “Dominion Energy is pleased to add SCANA’s fast-growing, high-performing Southeastern businesses to our 18-state footprint.”
According to Farrell, the combined entity is expected to aim to provide safe, dependable, affordable and clean energy to the communities served by SCANA while maintaining its reliability and customer service.
The merger adds to Dominion Energy’s operations in Georgia, North Carolina and South Carolina. The company had already operated an electric utility for 120,000 customer accounts in northeastern North Carolina, a 1,500-mile interstate pipeline principally in South Carolina, and nearly 1,000 MW of gas, hydro and solar generating capacity in all three states.
“The addition of SCANA makes geographic sense and aligns well with our core, regulated energy businesses,” Farrell added. “These are well-run regulated operations that we expect will help improve Dominion Energy’s risk profile and growth outlook.”
Jimmy Addison, SCANA CEO, weighed in: “These two companies share common values, and this combination provides SCANA’s businesses with the scale and stability to meet customers’ growing energy needs in the years to come. I am particularly proud that despite the intense efforts that went into planning for the integration and attaining approval of the combination of the companies over the past year, employees across our three-state region maintained their focus on providing energy to our customers safely and reliably.”
According to Dominion, they will be transitioning over the next several months as SCANA customers would slowly see more and more of the Dominion brand. Dominion announced that, “while the company name will change to Dominion Energy, the service and dedicated energy you expect will not.”
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,