SCANA Earnings Call Nuggets: Railcar Issues and Dividend Policy

SCANA Corp (NYSE:SCG) recently reported its fourth quarter earnings and discussed the following topics in its earnings conference call.

Railcar Issues

Adam Muro – Goldman Sachs: Adam Muro here, stepping in for Michael and Neil. Just curious, the Vogtle plant on the construction by Georgia Power recently faced a challenge of the railcar used to get the reactor vessel from the port to the plant site was not big enough creating some logistical issues. I mean, just curious on whether this impacts your construction project. If so, how and what can be done to remedy this?

Stephen A. Byrne – SVP, SCANA; COO and President, Generation and Transmission South Carolina Electric & Gas Company: The railcar that was used to transport the reactor vessel from the Port of Savannah to the Vogtle site didn’t understand that it was undersize, but the load did shift in transit not far out of the Port of Savannah. The vendor in this case was Westinghouse along with the railcar vendor are redesigning that car. We don’t anticipate that’s going to have any impact on our delivery schedule. We don’t need our reactor vessel on the site until sometime next year.