Little time is left to save 600 Lexington County SCANA employee jobs.
A state law is needed to:
• Save them with low cost financing for billions in SCANA’s nuclear debt.
• Stop an out-of-state Dominion Energy buy out.
One Lexington County lawmaker, Rep. Mac Toole, is looking into what 17 other states have done in similar nuclear situations.
SC Small Business Chamber of Commerce CEO Frank Knapp, an intervenor in the PSC hearings, says lawmakers need to let the PSC know they are working on a job-saving solution.
“These are their county’s constituents,” Knapp said.
17 states have used “securitization” to let utilities recover costs such as this.
“Securitization” means lower costs due to less risk for lenders when the state guarantees payment. 
This means SCANA could not add 10.25% Return on Equity profit and pay no income taxes on the profits.
The Florida Public Service Commission approved securitization to recover costs of an abandoned nuclear power plant there. 
 Lawmakers have given the SC PSC until Dec. 1 to:
• Decide if SCANA can charge its 727,000 ratepayers for its abandoned $9 billion nuclear project.
• Rule if Dominion can buy SCANA at a projected cost of 600 local jobs.
Utility rate consultant Lane Kollen told commissioners last week that about 1/3rd of SCANA service employees would go if they approve Dominion’s bid.
Kollen, an Office of Regulatory Staff witness with 40 years industry experience, based his estimate on previous Dominion buy outs.
Lexington County losing up to 600 jobs should come as a shock to county lawmakers, Knapp said. 
Office of Regulatory Staff solution, it will roll back SCE&G electric rates another 5% to a 20% cut.
A Dominion deal will raise rates, Knapp said.
If SC lawmakers pass a securitization law, ratepayers would gain a larger rate cut, SCANA can remain locally owned and 600 jobs could be saved, he said.