Scana Loses Preliminary Round of Regulatory Sparring
We are reaffirming our $60 per share fair value estimate after South Carolina regulators ruled against Scana in a preliminary proceeding related to its abandoned new nuclear project. Starting immediately, Scana faces what we expect will be a long, contentious challenge to recover some $2.2 billion of capital at risk and $1.9 billion of rates collected since 2007. This ruling makes our $42 per share worst-case fair value more likely.We think Wednesday's ruling has two implications. First, it lik...
SCANA is a holding company. Through its regulated subsidiaries, the company is engaged in the generation, transmission, distribution and sale of electricity in South Carolina and in the purchase, transmission and sale of natural gas in North Carolina and South Carolina. Through its non-regulated subsidiary, the company markets natural gas to retail customers in Georgia and to wholesale customers in the southeast. In addition, the company's subsidiary, SCANA Services, Inc. provides primarily administrative and management services to the company's other subsidiaries.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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