SCE&G Announces Rate Plan Following V.C. Summer Construction Shutdown

Columbia, S.C. (WOLO)–SCE&G incoming President Keller Kissam said the company will offer ratepayers a 3.5% decrease amounting to a $90 million annual total given back to customers.

Kissam said while the decrease will have to be approved by regulators, it will roll rates back to where they were in March of 2015.

Kissam said the company hopes to have the decreased rate in place as soon as possible.

Kissam said that decrease will total to around 90 million dollars a year. Additionally, he said the company has another solution for people who feel like they got nothing out of a project they paid for.

Additionally, SCE&G entered into a option for purchase to buy a 540 megawatt gas-generation facility located in Calhoun County. The heat and power plant has a price tag of 180 million dollars. Kissam said the bill would be picked up by the company, not customer rates.

The decisions come after state lawmakers put pressure on the utility following the abandonment of two nuclear reactors at the V.C. Summer facility in Fairfield County.

Prior to the decision to end construction, SCANA implemented several rate hikes to offset the cost of the reactors.