Tuesday, November 5, 2013

SCANA Corp: A Diversified Energy Company

Based in Cayce, South Carolina, SCANA Corporation is a $9 billion energy-based holding company. It is in the business of natural gas, regulated electricity, and other energy-related ventures. The company’s brand name is not an acronym but is just taken from the letters in South Carolina.

The company, together with its subsidiaries, services approximately 661,000 electricity consumers in South Carolina and more than a million subscribers of their natural gas in Georgia, North and South Carolina. There are six subsidiaries that the company operates namely: SCANA Energy, SCANA Energy Marketing, Inc. (SEMI), PSNC Energy, South Carolina Electric & Gas Company, and Carolina Gas Transmission.

The company’s earliest predecessor is Charles Gas Light Company which was formed in 1846. The company was in the business of manufacturing gas from oil, coal and resin. The diversified holding company was not formed until 1984. It was through this restructuring that the business was able to segment its various businesses and further diversify its offerings.

One of the notable milestones in the history of SCANA happened on September 21, 1989 when Hurricane Hugo hit the area of Charleston, South Carolina. What took 100 years to build was wiped out by the powerful Category 4 storm in just a matter of hours. In 17 days, their employees worked tirelessly to restore power to their 300,000 customers.

As a diversified business, the company has also ventured into the communications industry through its SCANA Communications. The company offers a wide range of cutting edge communications solutions to its consumers in the Georgia, North and South Carolina areas. It operates LONG-HAUL and ACCESS networks and leverages the fiber of its partners Palmetto Net and FRC, both regional interexchange carriers.

SCANA Corporation is known for bringing power to the world’s first electrically-powered textile mill. Together with this, the company was also the first business to provide gas street lights in the areas of Aiken, Columbia and Charleston, South Carolina.

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