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Dominion Energy one step closer to $8B SCANA acquisition

WASHINGTON — The Georgia Public Service Commission has approved Dominion Energy’s planned $7.9 billion acquisition of SCANA Corp., a utility provider in Georgia and the Carolinas.

The Federal Trade Commission approved the deal in February. It still needs regulatory approval in North Carolina and South Carolina, though Dominion expects the acquisition to close in 2018.

It also still needs the authorization of the Nuclear Regulatory Commission and Federal Energy Regulatory Commission.

The merger remains contingent on approval for SCANA shareholders.

Dominion is already one of the largest utility companies in the U.S. with more than 16,000 employees and 5 million customers. The SCANA acquisition would boost its customer base to 6.5 million customers in eight states from Connecticut to California.

Dominion and SCANA have both offered incentives aimed at winning approval, including a $1.3 billion cash payment to South Carolina Electric & Gas customers, and a 5 percent rate reduction for SCE&G residential customers.

Dominion Energy also owns one of the nation’s largest natural gas storage systems. The merger would create a company with a natural gas pipeline network totaling more than 106,000 miles and natural gas storage systems with 1 trillion cubic feet of capacity.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
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