Wiktor Wise
SCANA Corporation was an American electric and natural gas public utility company based in Cayce, South Carolina. The company was formed in 1984 but traces its history back to 1846 when the Charleston Gas Light Company was founded. SCANA was not an acronym but was derived from the letters in South Carolina. The company owned eleven subsidiaries, including South Carolina Electric & Gas Company (SCE&G), which was its largest subsidiary. SCANA was acquired by Dominion Energy in January 2019.
| Characteristics | Values |
|---|---|
| Full Form | SCANA Corporation |
| Type of Business | Regulated electric and natural gas public utility |
| Location | Cayce, South Carolina |
| History | Dates back to the establishment of the Charleston Gas Light Company in 1846 |
| Number of Subsidiaries | 11 |
| Largest Subsidiary | South Carolina Electric & Gas Company (SCE&G) |
| Power Output | Over 5,800 MW |
| Environmental Initiatives | Recycling of ash waste, office paper, and use of recyclable paper for annual reports |
| Customers | Approximately 719,000 for electricity and 368,000 for natural gas |
| Acquisition | Acquired by Dominion Energy in January 2019 |
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What You'll Learn
SCANA Corporation's history
SCANA Corporation, an American regulated electric and natural gas public utility, was headquartered in Cayce, South Carolina. The company's core business was focused on the production, distribution, and sale of electricity and natural gas. SCANA provided services to more than one million natural gas customers in three southeastern states and electricity to over 550,000 customers in South Carolina. The name SCANA was not an acronym but was derived from the letters in South Carolina (S [outh]-C-A-[roli] N-A).
SCANA's history dates back to 1846 when a group of Charleston business leaders formed the Charleston Gas Light Company. In 1924, the Broad River Power Company was formed, which changed its name to the South Carolina Electric & Gas Company in 1937. In 1942, the company acquired Lexington Water Power Company, which had built the Saluda Dam, creating the 50,000-acre Lake Murray. In 1948, the South Carolina Electric & Gas Company acquired the South Carolina Power Company, the successor to Charleston Gas Light.
In 1984, the South Carolina Electric & Gas Company merged with Carolina Energies, Inc. (CEI), a holding company with six subsidiaries, to form SCANA Corporation. Within a few years, SCANA expanded to eleven subsidiaries, with its latest acquisition being the Peoples Natural Gas Company of South Carolina. In 1989, SCANA faced a significant challenge when Hurricane Hugo left 300,000 customers without power. However, the company was well-prepared, and its employees worked tirelessly to restore service, earning them the Edison Award.
SCANA continued to grow and diversify its holdings, including the operation of an extensive telecommunications network through its subsidiary SCANA Communications. In 2006, Carolina Gas Transmission, a predecessor of SCANA, was formed as an interstate natural gas pipeline in South Carolina and Georgia. In 2015, SCANA Communications was sold to Spirit Communications for $150 million. SCANA also faced challenges, such as the Nukegate scandal, which led to a decline in its stock value. In January 2019, SCANA was acquired by Dominion Energy, and by March 2019, the SCANA name was retired.
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SCANA's subsidiaries
SCANA Corporation was an American regulated electric and natural gas public utility company. The company was based in Cayce, South Carolina. The corporate name SCANA was derived from the letters in South Carolina (S [outh]-C-A-[roli] N-A).
SCANA Corporation was the parent company of South Carolina Electric & Gas Company (SCE&G), which was its leading subsidiary. SCE&G was engaged in the generation, transmission, distribution, and sale of electricity and natural gas to customers in South Carolina.
SCANA also had other subsidiaries and business units, including:
- SCANA Energy: Based in Atlanta, Georgia, SCANA Energy was the second-largest marketer of natural gas in Georgia, serving over 425,000 customers. It had a regulated unit, SCANA Energy Regulated Division, which was selected by the Georgia Public Service Commission to be the state's only regulated natural gas provider.
- SCANA Communications: SCANA Communications operated fiber-optic long-line and access networks throughout South Carolina and parts of North Carolina and Georgia. It offered various services, including Point of Presence (POP) equipment co-location and had a state-of-the-art data center in downtown Columbia, South Carolina. In 2015, SCANA Communications was sold to Spirit Communications for $150 million.
- Virgil C. Summer Nuclear Generating Station: SCANA operated this nuclear power plant, which included two abandoned AP1000 units following the bankruptcy of Westinghouse Electric Company.
- Hydroelectric and Fossil Fuel Power Plants: SCANA operated a diverse range of power generation facilities, including hydroelectric plants, coal fossil fuel power stations, and combined cycle power plants.
In January 2019, SCANA was acquired by Dominion Energy, and the SCANA, SCE&G, and PSNC names were retired.
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SCANA's environmental initiatives
SCANA Corporation was an American-regulated electric and natural gas public utility company based in Cayce, South Carolina. The name SCANA was derived from the letters in South Carolina (S [outh]-C-A-[roli] N-A). SCANA Corporation was acquired by Dominion Energy in January 2019, and by March 2019, the SCANA name was retired.
Although I could not find specific information on SCANA's environmental initiatives, the company's commitment to sustainability is evident through its subsidiaries and acquisitions. SCANA's subsidiaries, such as SCE&G (South Carolina Electric & Gas Company), were engaged in the generation, transmission, distribution, and sale of electricity and natural gas to a large customer base in South Carolina.
SCANA's acquisition of Public Service of North Carolina in 2000 and its regulated unit, SCANA Energy Regulated Division, being selected as Georgia's only regulated natural gas provider, further demonstrate its involvement in sustainable energy solutions.
Additionally, SCANA Communications, which was sold in 2015, operated fiber optic networks and data centers, contributing to efficient and environmentally friendly communication solutions.
While specific environmental initiatives were not found, SCANA's involvement in the energy sector and its subsidiaries' focus on sustainable practices indicate a broader commitment to environmental sustainability.
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SCANA's acquisition by Dominion Energy
SCANA, or the SCANA Corporation, was an American regulated electric and natural gas public utility company. The name SCANA was derived from the letters in South Carolina (S[outh]-C-A-[roli] N-A). SCANA's history can be traced back to 1846 when a group of Charleston business leaders formed the Charleston Gas Light Company. In 1937, the Broad River Power Company changed its name to South Carolina Electric & Gas Company, which later became a subsidiary of SCANA Corporation.
In 2015, SCANA Communications was sold to Spirit Communications for $150 million. SCANA Communications operated fiber optic long-line and access networks throughout South Carolina and in parts of North Carolina and Georgia.
In January 2019, SCANA was acquired by Dominion Energy, a Virginia-based company, for about $6.8 billion, along with the assumption of approximately $6.6 billion in existing consolidated SCANA net debt. The merger resulted in each SCANA share being converted into 0.6690 shares of newly issued Dominion Energy common stock. Dominion Energy's buyout of SCANA came after the latter lost $5 billion due to a failed nuclear construction project.
Following the acquisition, Dominion Energy committed to maintaining compensation levels for employees of SCANA and its subsidiaries until at least January 1, 2020, and extending base pay continuation or severance for all non-executive employees until at least July 1, 2020. The company also promised to maintain SCANA's customer service levels and increase its corporate and charitable giving by $1 million per year for at least five years in SCANA's communities. Dominion Energy also planned to implement an EnergyShare-like program in South Carolina to assist low-income, elderly, disabled, and veteran customers.
The acquisition of SCANA expanded Dominion's operations in Georgia and the Carolinas, adding over 2 million electricity and natural gas customers throughout the three states to its 18-state footprint. Dominion also gained access to SCANA's 1,500-mile gas pipeline in South Carolina and Georgia. The purchase of SCANA was expected to result in lower power prices for customers, with the South Carolina Public Service Commission approving a plan to lower SCE&G's electric rates by about 15%.
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SCANA Communications
The services provided by SCANA Communications included site acquisition, zoning support, build-to-suit, site management of existing towers, shared tenant colocation centers, and fiber backbone access. In addition to these services, SCANA Communications also had CGT, a FERC-regulated open-access, transportation-only interstate pipeline company with approximately 1,500 miles of pipelines measuring up to 24 inches in diameter, operating in South Carolina and southeastern Georgia.
In February 2015, SCANA Communications was sold to Spirit Communications for $150 million. This sale was part of a series of acquisitions and divestments by the parent company, SCANA Corporation, which included the sale of Scana Petroleum Resources Inc. in 1997 for $110 million and the acquisition of Public Service of North Carolina in 2000 for $673 million.
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Frequently asked questions
SCANA is not an acronym. The name is derived from the letters in South Carolina (S [outh]-C-A-[roli] N-A).
SCANA Corporation was an American regulated electric and natural gas public utility company based in Cayce, South Carolina. Its history dates back to 1846 when the Charleston Gas Light Company was established. In 1984, the company was incorporated as SCANA, with South Carolina Electric & Gas Company (SCE&G) as its leading subsidiary. Over time, SCANA expanded to include eleven subsidiaries, with SCE&G remaining the largest. In January 2019, SCANA was acquired by Dominion Energy.
SCANA operated a diverse range of power plants, including hydroelectric, coal fossil fuel, nuclear, and natural gas-powered facilities. The company served a large customer base in South Carolina and was committed to environmental initiatives, such as recycling ash waste and encouraging electricity conservation.
