SCE&G Files for Annual Adjustment Under Natural Gas Rate Stabilization Act
SCE&G filed for the increase under terms of the Natural Gas Rate Stabilization Act, a South Carolina law designed to reduce fluctuations in customer rates by allowing for more efficient recovery of the costs regulated utilities incur in expanding, improving and maintaining natural gas service infrastructure. Information supporting the filing will be reviewed by the ORS, which will issue an audit report by Sept.1. The PSC will review SCE&G’s filing and the ORS audit report and issue an order in October. If approved, the rate increase would be effective with the first billing cycle of November.
Keller Kissam, president of SCE&G’s retail operations, said even with the proposed rate increase, customer bills on average will be down from a year ago based on current wholesale costs.
“Approximately 40 percent of what our customers are paying for natural gas is a direct pass-through of the costs we incur purchasing and transporting natural gas from the wholesale market,” said Kissam. “Those costs are down significantly. At present levels, residential bills will actually be about $11 less annually compared to a year ago, based on average usage.”
The proposed overall 2.40 percent increase to natural gas rates breaks out as follows:
4.44 percent increase for residential customers
2.18 percent increase for small/medium commercial customers
1.54 percent increase for large commercial/industrial customers
SCE&G is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 668,000 customers in South Carolina. The company also provides natural gas service to approximately 319,000 customers throughout the state. More information about SCE&G is available at www.sceg.com.
SCANA Corporation, headquartered in Cayce, 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 website at www.scana.com.
Contact the Author
Featured News and Press Release
- Premium Distribution
- Add your website address
- Add your logo and picture
- Increase of website traffic
- Increase your website link popularity
- Priority review and inclusion
- New level of market exposure
- As fast as 6 hours to be published
Have your news read by thousands of investors each day
Live Trading News Newswire and Press Release Publishing Services – Publish your Stock News & Business News by Sectors:
Need to Know, Latest News, Company News, Investment News, Commodity News , Hedge Funds News, Corporate Headlines, Financials, Big Ticket Item News, Real Estate and more…
Your news is seen by thousands of investors and industry members that follow your sector on LiveTradingNews.com and on our Live Trading News News and Press Release service.
Best Hedge Funds 2013
Working with some of the World’s largest financial institutions HCM’s goal is to provide portfolio returns that exceed the S&P 500 Index benchmark while …
UAE Economy Seeing a Spring Boom
Driven by stable high Crude Oil prices, tourism, diversification and a liberal trade policy, the United Arab Emirates (UAE) witnesses an unprecedented …
Singapore Stock Exchange Preview
Shayne Heffernan takes a look at the trading week ahead in Singapore
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
An engulfing bearish line occurred (where …
The Hot List
Enviro-Serv Inc (OTCMKTS:EVSV), Medical Marijuana Inc (OTCMKTS:MJNA)
Enviro-Serv Inc (OTCMKTS:EVSV)
EVSV had a stellar dy yesterday, ut it looks like it is just the begining of big things, good …