The United States Federal Trade Commission (FTC) has granted early termination of the antitrust waiting period for the proposed US$14.6bn merger between the US energy utility Dominion Energy and the energy holding SCANA Corporation. This was one of the key requirements for the completion of the deal signed in January 2018. The transaction still remains subject to approval of the US FERC, NRC, public service commissions of South Carolina, North Carolina, and Georgia as well as Scana's shareholders. It is expected to be completed in 2018.
The combined company will carry out operations in 18 states from Connecticut to California. It will have an installed power capacity of 31,400 MW and will operate 93,600 miles (150 600 km) of power transmission and distribution lines along with 106,400 miles (171,200 km) of gas pipelines and 1 Tcf (28 bcm) of gas storage capacity. Under the framework of the agreement, Dominion Energy agrees to write-off US$1.7bn of existing VC Summer 2 and 3 units capital along with regulatory assets, which would decrease customer costs. As per the agreement, Scana would operate as a wholly-owned affiliate of Dominion Energy.
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