Political Pendulum Swings Against Scana as Lawmakers Compromise on Rate Cut
We are cutting our fair value estimate for Scana to $56 per share from $57 after South Carolina politicians agreed to legislation that would temporarily cut the utility's rates almost 15%. The cut removes almost all customer charges related to the new nuclear project Scana abandoned last summer.The key for investors is that the rate cut would be temporary, pending regulators' permanent rate decision likely in December. We estimate a six-month rate cut would reduce Scana's 2018 earnings by $1.17...
Dominion Energy is a holding company. Through its subsidiaries , the company is engaged in producing and transporting energy. The company's operations are conducted through its subsidiaries: Virginia Electric and Power Company, which is a regulated public utility that generates, transmits and distributes electricity for sale in Virginia and North Carolina; and Dominion Energy Gas Holdings, LLC, which serves as the intermediate parent company for the company's Federal Energy Regulatory Commission-regulated interstate natural gas transmission pipeline and underground storage systems in the eastern and Rocky Mountain regions, as well as for the liquefied natural gas import/export and storage facility.
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