SCANA Corporation
2019
$$6.8 Billion
Why
To acquire a major regulated electric and natural gas utility holding company serving portions of South Carolina and North Carolina, specifically capitalizing on the company's severe financial distress following the spectacular failure of the VC Summer nuclear construction project.
Impact
expanded Dominion Energy's heavily regulated geographical footprint across the rapidly growing Southeast United States, adding millions of new captive utility customers and significantly increasing the company's total base of regulated electrical generation and distribution assets.
Outcome
stabilized SCANA's troubled utility operations, navigating complex state regulatory approvals and political pushback to secure long-term rate stability, ultimately proving to be a lucrative, transformative corporate acquisition for Dominion's core utility business that ensured long-term regional dominance.