SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 14, 2003
SCANA Corporation
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(Exact name of registrant as specified in its charter)
South Carolina 1-8809 57-0784499
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1426 Main Street, Columbia, South Carolina 29201
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803) 217-9000
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Not applicable
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(Former name or former address, if changed since last report)
Item 5. OTHER EVENTS AND REGULATION FD DISCLOSURES
As previously disclosed, SCANA Energy Marketing, Inc. (SEMI), a
non-regulated subsidiary of SCANA Corporation (SCANA, the Company), entered
into, in the ordinary course of business, a 15 year take-and-pay contract with
an unaffiliated natural gas supplier (Supplier) to purchase 190,000 DT of
natural gas per day beginning in the spring of 2004. A significant amount of the
gas was to be used at South Carolina Electric & Gas Company's (SCE&G, a SCANA
subsidiary) Jasper County generating plant, currently under construction.
On December 23, 2002, as a result of the failure of Supplier and its
guarantor to meet contractual obligations related to credit support provisions,
the contract was terminated by SEMI. Attempts to negotiate a new contract
between the parties have not been successful. On February 14, 2003, the Company
received written notification from Supplier of its request for binding
arbitration under the terms of the original contract. The Company is confident
of the propriety of its actions and will vigorously pursue its position in such
arbitration proceeding. The Company further believes that the resolution of
these matters will not have a material adverse impact on its results of
operations, cash flows or financial condition.
The Company believes that the gas supply necessary for the operation of
the Jasper County generating facility in the spring of 2004 can be obtained from
other sources and believes that the termination of the contract will have no
material adverse effect on its operations, cash flows or financial condition or
those of its subsidiary, SCE&G.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SCANA Corporation
(Registrant)
February 18, 2003 By: s/James E. Swan, IV
James E. Swan, IV
Controller