COLUMBIA, S.C. (AP) – A South Carolina utility struggling after sticking consumers with higher bills after failed plans to build a nuclear reactor now says it won’t give golden parachutes to executives who stepped down last month.
Multiple media organizations reported that directors of SCANA Corp. decided not to award severance packages to former chief executive Kevin Marsh and operations chief Steve Byrne. Those packages could have been worth tens of millions of dollars.
SCANA spokesman Eric Boomhower said in an email the parent of South Carolina Electric & Gas won’t award the severance packages due to “the company’s responsibilities to our ratepayers and shareholders.”
The company’s efforts to expand the V.C. Summer Nuclear Station north of Columbia has left SCE&G’s nearly 720,000 electricity customers paying $37 million a month for the scrapped project.