Public Service Commission Approves Rate Hikes for SCE&G Customers

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Columbia, S.C. (WOLO) — Another rate hike is on the was for SCE&G customers. Wednesday the Public Service Commission approved the increase to fund continued construction of the company’s two new nuclear plants. The Public Service Commission’s unanimous approval/vote means that nearly 700,000 SCE&G customers statewide will soon see a 2.8% increase in their bills. Another rate hike for SCE&G consumers, the 8th since 2009 to fund the construction of the company’s two nuclear plants. The Base Load Review Act allows for an annual rate increase to fund the project through its completion. “We still don’t know how much they’re going to cost and we don’t know when they’re going to start.They have target dates but that’s going to shift but it’s going to end up costing us more and we have to pay everything,” says Savannah River Site Watch Director Tom Clements. Those shifts have already happened. Recently the Public Service Commission approved a new timeline and budget for the project, delaying completion 4 years and boosting the cost by $1 billion. These are things customers say they can’t afford. According to SCE&G customer Sonya Hodges,”I feel like our rates should stay the same because every year they’re looking for a rate increase.” Michael Mayes, another SCE&G customer says,”The prices are already high as is. it’s just way to high no one can afford that these days, it’s just crazy.” But according to SCE&G spokesperson Eric Boomhower the upfront costs will lead to savings down the road. Boomhower says, “By recovering those financing costs during construction, we lower the cost of the project. We lower the cost by about $1 billion. Then over the life of the plants that reduces the amount of money we have to collect from the customers by and estimated $4billion.” On average customers using 1,000 kilowatts of energy a month can expect a $4 increase in their monthly bill. This is something Boomhower says is not ideal but necessary. “I think the important thing to keep in mind is that what we’re trying to do here is ensure that we are going to have clean reliable power for the foreseeable future to meet the energy needs of our customers,” says Boomhower According to SCE&G the new rates will go into effect on October 30th.