Quantcast

SCE&G reduces size of rate increase request - Live5News.com | Charleston, SC | News, Weather, Sports

SCE&G reduces size of rate increase request

Posted: Updated:

COLUMBIA, S.C. (AP) - South Carolina Electric & Gas Co. has agreed to reduce the size of a rate increase.

The company has agreed to seek an increase of just over 4%. That's down from a request of about 6.5% the company initially requested in June.

The Public Service Commission still must approve the increase, which would generate another $97 million for the Cayce-based utility. The original request had been for an increase of $152 million. The PSC begins work on the request Monday.

SCE&G had been negotiating with several groups opposing the increase, saying it was excessive.

The deal would save the average customer about $50 a year.

The increase might be even less because of lower natural gas costs for the company.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow