Business Services Industry
South Carolina Public Service Commission Approves Fuel Cost Adjustment for South Carolina Electric & Gas Company
Business Wire, May 2, 2008
COLUMBIA, S.C. -- South Carolina Electric & Gas Co. (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), announced today that the South Carolina Public Service Commission (PSC) approved an adjustment in the fuel component of customer rates that will allow SCE&G full recovery of costs prudently incurred in purchasing fuel to operate its electric generation facilities. Beginning in May, the monthly electric bill of a 1,000-kwh residential customer will increase 1.06 percent, going from 106.54 to $107.67.
The approved adjustment is the result of a settlement agreement among the South Carolina Office of Regulatory Staff, South Carolina Energy Users Committee, CMC Steel and SCE&G.
The PSC annually reviews SCE&G's electric fuel costs and authorizes the company to adjust base rates either upward or downward to reflect those costs. Fuel costs are a direct pass-through to customers; SCE&G does not earn a profit on that portion of its rates.
PROFILE
SCE&G is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 643,000 customers in South Carolina. The company also provides natural gas service to approximately 305,000 customers throughout the state. Information about SCE&G is available on the company's web site at www.sceg.com.
SCANA Corporation, a Fortune 500 company headquartered in Columbia, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA and its businesses is available on the company's web site at www.scana.com.
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