Former SCANA CEO pleads guilty to fraud

March 1, 2021, 9:30AMNuclear News

The latest episode in the continuing saga of the failed nuclear expansion project at South Carolina’s Summer plant played out in federal court last week when the former chief executive officer of SCANA, Kevin Marsh, pleaded guilty to charges of fraud. According to the state attorney general’s office, Marsh will serve two years of a 10-year sentence, followed by three years of probation, provided he continues to cooperate with prosecutors. Marsh will also part with $5 million, which is to be used to help low-income ratepayers with their utility bills.

“This case is a good example of the power of our state grand jury and how our office uses it to hold the powerful accountable,” said South Carolina attorney general Alan Wilson. “While this criminal proceeding is not meant to repay the customers who spent billions of dollars on nuclear plants that were never finished, we hope they take some comfort from the fact that the former CEO of SCANA has pled guilty for his role in this debacle. A public utility and its officers must serve the public.”

Dominion to pay $25-million civil penalty in SEC case

December 8, 2020, 12:05PMNuclear News

Dominion Energy has agreed to pay a civil penalty of $25 million to settle a lawsuit brought by the Securities and Exchange Commission against SCANA Corporation and subsidiary South Carolina Electric & Gas (SCE&G) regarding SCANA’s involvement in the failed Summer nuclear expansion project. Virginia-based Dominion acquired SCANA in January 2019.

Dominion disclosed in May that it had reached an “agreement in principle” with the staff of the SEC’s Division of Enforcement to settle the case for the above-stated amount.

The final agreement, which at this writing is still subject to approval by the U.S. District Court for the District of South Carolina, also calls for the payment of $112.5 million in “disgorgement plus prejudgment interest.” This penalty, however, will be deemed satisfied by SCANA and SCE&G’s settlement payments in related rate payer and shareholder litigation.