SC senators were to vote this week to save Dominion ratepayers $151 million.
A Senate subcommittee plans a public hearing on Senate Bill 110 introduced by Senate Majority Leader Shane Massey.
His bill allows Dominion Energy and other utilities to sell low-interest bonds by “securitization,” a process not now legal in the state. 
This will save ratepayers millions when utilities try to recover costs from storms and problems such as SC Electric & Gas’s failed $9 billion nuclear project that Dominion now owns.
Massey’s bill will let the state secure $2.3 billion in bonds to pay off SCANA’s share of the failure on which ratepayers have already had to pay $2 billion.
Massey, who represents western Lexington County, told the Chronicle he expects SCE&G’s new owners at Dominion to fight his bill to cut its borrowing costs.
Dominion can pocket a 9.9% profit the Public Service Commission approved if it does traditional bonding, according to SC Small Business Chamber CEO Frank Knapp, Jr.
A 9.9% profit on $2.3 billion would let Dominion pocket $227 million more of 727,000 ratepayers’ money. 
Massey’s bill will lower interest rates to about 3.3% or $75.9 million, but Dominion would not profit from it.
Secured interest rates are much lower because the state guarantees payment.

Who to contact
Dominion ratepayers can contact senators to urge support for Senate bill 110. 
• Mike Gambrell (Chair)  803-212-6040 or mikegambrell@scsenate.gov
• Brad Hutto 803-212-6140 or bradhutto@scsenate.gov
• Ronnie Sabb 803-212-6032 or ronniesabb@scsenate.gov
• Wes Climer 803-212-6016 or wesclimer@scsenate.gov
To thank Sen. Shane Massey 803-212-6330 or shanemassey@scsenate.org