SCANA Cause

CEO’s departure latest of utility’s woes

SCANA Corp. announced the departure of its CEO and Chairman Kevin Marsh on Tuesday.

The South Carolina utility owner and operator is currently in the crosshairs of a legal investigation, which has included a denial by Marsh on Monday that he had been fired, followed by a suggestion to step down from the S.C. House Speaker. Three days later, as court proceedings continue, Marsh is officially out.

Marsh will complete his duties as CEO until the end of the calendar year, and will likely still be involved in the investigation, which stems from a nine-year saga involving a failed nuclear plant project outside of Columbia, S.C., that caused public uproar for laying off thousands of contracted workers without ample warning.

Current CFO Jimmy Addison will replace Marsh at the beginning of 2018.

SCANA, based in Cayce, S.C., finally nixed plans for the VC Summer nuclear plant project on July 31 with the input of project partner Santee Cooper, another South Carolina power supplier. The project was reportedly more than halfway completed, according to some workers.

Originally proposed in 2007, the two-reactor expansion of the Summer plant was supposed to be completed by 2017 and 2018, respectively. But construction crews ran into problems with Westinghouse Electric’s AP1000 reactor design, causing delays and cost overruns that led the nuclear developer to file for bankruptcy in March.

The company has nearly 6,000 employees and includes major subsidiary SCG&E (South Carolina Gas & Electric). Being called into question during the legal process is whether a WARN Act notice was sufficiently filed prior to closure, as well as whether the company provided severance packages for the nearly 5,000 contracted employees who were left without jobs when the site shut down in late July.

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