Lawyers want $100M fee

11 attorneys could get $9M each in SCE&G lawsuits

Posted 12/12/18

Ratepayers’ lawyers may split $100 million, and their clients get only $15 million.

According to the Office of Regulatory Staff, the settlement will give the 11 plaintiffs’ attorneys 5% of $2 …

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Lawyers want $100M fee

11 attorneys could get $9M each in SCE&G lawsuits

Posted

Ratepayers’ lawyers may split $100 million, and their clients get only $15 million.
According to the Office of Regulatory Staff, the settlement will give the 11 plaintiffs’ attorneys 5% of $2 billion, or $100 million.
An equal split would give each attorney $9.09 million.
The attorneys listed in the settlement documents are Pete Strom, Jr., Mario Pacella, former SC House member Bakari Sellers, Jessica Fickling, Terry Richardson, Daniel Haltiwanger, Matthew Nickles, Dan Speights, A.G. Solomons III, Edward Bell and James Ward, Jr.
SCANA attorneys agreed to the $100 million fee as it would come from a $115 million fund set aside for executives who would be let go if Dominion Energy takes over SCANA, according to a source close to the issue.
The executives will still be paid by Dominion if the takeover is approved.
The cost may be passed on to ratepayers in future rate hikes, the source said. 
About 600 other SCE&G employees in Lexington County would be let go but without that kind of severance arrangement.
Circuit Court Judge John Hayes appeared ready to rule for ratepayers against SCANA but apparently won’t due to the settlement.
It now depends on Public Service Commission approval of the settlement and a Dominion takeover of SCANA and its SC Electric & Gas subsidiary.
SCANA attorneys agreed to these terms because their bosses will still get a contracted $115 million golden parachute, the source said.
Instead of ratepayers receiving rate cuts under the settlement, 727,000 of them may end up paying for those golden parachutes in an added $9 a month in higher electric rates for 20 years, or $2,160 each.
That would give Dominion a total of $1.57 billion in added ratepayers’ fees. 
Other sources say they expect the PSC to approve a Dominion takeover, especially after House Speaker Jay Lucas recommended it.

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