CAYCE, S.C. (WCBD) – Attorney has reached a settlement on Saturday that could settle a lawsuit that requires refunds for South Carolina Electric and Gas customers following the failed V.C. Summer Nuclear Project.
Plaintiffs Richard Lightsey, LeBrian Cleckley and Phillip Cooper have entered into an agreement with SCANA Corporation and South Carolina Electric & Gas Company to settle a lawsuit filed in the State Court of Common Pleas in Hampton County on behalf of themselves and present and former SCE & G electrical customers. The settlement addresses the demands of these customers and the Advocate General's arguments relating to the Basic Tax Act ("BLRA"). SCANA and SCE & G deny the claims in the case but have agreed to resolve this matter.
SCANA and SCE & G have entered into an agreement on a community fund consisting of the following amounts to be distributed to members of the class:
A credit of up to $ 2,000,000,000.00 in the future, electricity relief will grant the Community in favor of class members over a period of time established in the process expected before the Public Service Commission of South Carolina (PSC)
A cash payment of $ 1[ads1]15,000,000.00, which will include the full value of the SCANA rabbi trust funded in January 2018, which was created wholly or partly for leading change control payments
Transfer of SCE and G-owned real estate agents or sales proceeds from the sale of properties, including Ramsey Grove Plantage; the original Charleston Gas & Light Building at 141 Meeting Street in Charleston; and certain Otarre properties in Cayce.
Distribution of any settlement funds is subject to legal authorization, as well as a final confirmation from KSU that approves a merger between SCANA Corporation and Dominion Energy, and a termination of the proposed merger between the parties.
Interested current and former SCE & G customers will receive information about their rights during settlement. Qualified settlement class members will receive compensation in the form of a credit or payment of an amount to be distributed by a court-authorized class action manager. Upon approval of the decision announced today, the lawsuit will be rejected by appointment, and claims from SCE and G payroll rates will be resolved.
Former United States Attorney and Supervisory Board of the Certified Class, J. Preston Strom, Jr., had the following to say about the terms of this decision:
"Once we have reached this agreement, we have been able to secure over 2 billion dollar in relief and responsibility for the people of South Carolina. We thank the law firm's office for its hard work throughout the case and especially to ensure the return of funds allocated for executive bonus payments to taxpayers. "
The state of South Carolina was represented in this case by Advocate General Alan Wilson Class Consultant is J. Preston Strom, Jr. John R. Alphin, Jessica L. Fickling, Mario A. Pacella, and Bakari T. Sellers, of Strom Law Firm, LLC; Terry Richardson, Edward Westbrook and Daniel S. Haltiwanger, Richardson, Patrick, Westbrook & Brickman, LLC in Barnwell, Dan Speights and AG Solomons, III of Speights and Solomons in Hampton, J. Edward Bell of Bell Legal Group, LLC in Georgetown, James L. Ward, Jr. , and Whitney B. Harrison of McGowan, Hood & Felder, LLC, Vincent Sheheen of Savage, Royall, & Sheheen, L.LP., and Gregory Galvin of Galvin Law Group. SCE & G and SCANA are represented by David Balser and Jon Chally of King & Spalding LLP in Atlanta, GA; Leah B. Moody of Moody Law Fi rm in rock hill, sc; and Jamie Becker and Bob Knowlton from Haynsworth Sinkler Boyd in Columbia, SC.