SCE&G said it needs the money to pay for continuing costs, including billions in debt for the failed nuclear project. Losing that revenue could scuttle Dominion's proposed acquisition of SCANA, a buyout that includes a $1,000 refund for the average residential electric customer. Griffin and equity analyst Ellen Lapson testified the temporary rate cut would slash investors' return on equity, making it harder for SCANA to attract and keep investors and more difficult for it to borrow and maintain a healthy cash flow. Both also testified the rate cut could lead to further credit rating downgrades —SCANA's debt was downgraded to junk status in February. They warned the loss in revenue would lead to spending cuts that would hamper the utility's ability to prepare for and recover from storms. "Customers are harmed when the utility is financially weak," Lapson said.