South Carolina Senate passes rate cut, threatening merger

COLUMBIA, S.C. (AP) – The South Carolina Senate has approved a proposal to significantly cut the amount a private utility can charge customers to pay for two nuclear plants that were never finished.

The Senate agreed Wednesday to cut the 18 percent SCANA Corp. is charging customers to pay for the failed project down to 5 percent.
But the House completely eliminated the charge, which costs the average South Carolina Electric & Gas customer $27 a month. Gov. Henry

McMaster has said he would veto a bill that leaves any of the charges.

Dominion Energy has said passing the rate cut would likely end its offer to buy SCANA. The Virginia utility is offering SCE&G customers a rebate of up to $1,000 to customers and a promise not to raise rates for three years.