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PSC approves SCE&G retail electric rate increase

Published on Wednesday, December 19, 2012

The Public Service Commission of South Carolina (PSC) today voted unanimously to approve an overall increase in retail electric revenues of approximately $97.1 million, for South Carolina Electric & Gas Company, principal subsidiary of SCANA Corporation (NYSE: SCG).  

The PSC also approved SCE&G’s request for a mid-period reduction to its fuel costs.  Additionally, the PSC approved a reduction to SCE&G’s Demand-Side Management Rider to Retail Rates (“DSM Rider”). 

The total approved increase, along with the decrease to fuel costs and the decrease to the DSM Rider, results in a net impact to retail electric customers totaling 1.38 percent, or approximately $32 million.  Beginning in January 2013, overall rates will increase as follows:  

Residential customers

1.80%

Small commercial customers

0.08%

Medium commercial customers

0.63%

Large commercial/industrial customers

1.67%

The monthly bill of a residential customer using 1,000 kilowatt hours of electricity would increase by approximately $2.59.

Keller Kissam, SCE&G's president of retail operations, said the company's base rate filing was primarily driven by increased costs associated with improving reliability and ensuring regulatory compliance.

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