SCE&G requests 3 percent rate hike
COLUMBIA, S.C. (AP) - South Carolina Electric & Gas Co. wants to raise its rates 3 percent to help cover the cost of building two new nuclear reactors.
The utility serves about 675,000 customers in the state and filed the rate request late on Friday with state regulators.
The increase, amounting to about $50 a year for the average electric customer, would help cover the $70 million in construction costs during the past year for the new reactors at the V.C. Summer nuclear in Fairfield County near Columbia.
SCE&G and the state-owned electric utility Santee Cooper are building the reactors at a cost of nearly $10 billion. The first reactor is expected to come online around the end of 2017.Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.