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.