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South Carolina Electric & Gas, regulators on reduced electric rate hike.
Knight Ridder/Tribune Business News, October, 2004
By John P. McDermott, The Post and Courier, Charleston, S.C. Knight Ridder/Tribune Business News
Oct. 19--South Carolina Electric & Gas said Monday it won't raise power rates as much as it requested this summer, as part of a proposed settlement it reached with state regulators.
The utility in July asked the state Public Service Commission for a 5.7 percent electric rate hike, which would have raised an additional $81.2 million a year in revenue to offset the cost of SCE&G's new generating plant in Jasper County.
In its review of the application, the PSC staff raised some questions about the amount sought.
Under a proposed settlement announced late Monday afternoon, SCE&G, a unit of Columbia-based Scana Corp., said it has...
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