SCE&G rate increase takes effect this month

CAYCE, SC (AP) - South Carolina Electric & Gas Co. will increase rates by 2.3% this month to help pay for a planned expansion at its nuclear power plant in Jenkinsville.

The company said in a news release that regulators approved the increase last week for bills going out on or after Oct. 30. The typical monthly bill of a customer using 1,000 kilowatt hours of electricity will increase about $3.

It's a slightly smaller increase than the company had requested in May after a state Supreme Court ruling said SCE&G could not charge customers for contingency costs.

The Public Service Commission last year agreed to let SCE&G raise rates an average of 2% a year through 2019 to prepay the financing costs on its $4.5 billion share of the two new reactors.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.