SCE&G asks for 3 percent electric rate increase

CAYCE, S.C. (AP) — South Carolina Electric and Gas is asking to increase its electric rates by about 3 percent to help pay for costs of building two new nuclear reactors.

The utility asked the state Public Service Commission to let it raise rates last week.

It would be the sixth rate increase by SCE&G in four years. Many of those increases are to pay the $10 billion needed to build a pair of nuclear reactors at the V.C. Summer Nuclear Station north of Columbia. SCE&G will jointly own the reactors with state-owned Santee Cooper.

If the rate increase is approved, residential customers using 1,000 kilowatt hours of electricity would see their bills increase $4.32 a month up to $142.43.