State agency calls on SCE&G to reduce electricity rates by 18%

State agency calls on SCE&G to reduce electricity rates by 18%

Based on the SC Attorney General’s opinion today that the Base Load Review Act could be unconstitutional, the Office of Regulatory Staff has filed a petition with the Public Service Commission calling on SCE&G to immediately suspend all revised rate collections from customers, rate hikes that were put in place under the Base Load Review Act to pay for the construction financing costs of the now abandoned nuclear plants in Fairfield County. This would result in an approximately 18% drop in electricity rates if the PSC agrees. If the BLRA is ultimately declared by a court to be unconstitutional or if the legislature takes action to revoke the BLRA, ratepayers could see a return of over $1.4 billion already paid to SCE&G since 2009.