SCE&G rates increase 35% since January 2008
If you are an SCE&G business or residential customer, you know that your rates have gone up and up and up—just under 35% since January of 2008.
Half of this increase is due to the State Legislature allowing the power company to increase rates annually to pay for the construction financing costs of building two nuclear plants in Fairfield County.
Amazingly the South Carolina Small Business Chamber of Commerce has successfully opposed and reduced regular operational rate increases for the past 13 years or otherwise we would be well over a 35% increase today.
Now it is time to take the fight from the regulatory arena into the legislative arena. We need to target the 2007 law that allows for SCE&G to raise rates every year for the nuclear plants even when the company is 3 years behind schedule and over $1 billion from original projections. We need the law to be amended to better protect the consumer and to get SCE&G customers financial relief.
Please join our special “SCE&G Enough Is Enough” advocacy team. We’ll get you the information you need to make a difference and keep you informed.
Just return this email and say “I want to tell SCE&G Enough Is Enough.”
Another SGE&G Rate Hike Coming, Department Reviewing
September 21, 2015
The Office of Regulatory Staff is taking a hard look at whether a law that allows rate hikes is fair for customers. (video)
You might have noticed your SCE&G bill has gone up every year for almost a decade now.
But now that the project is behind schedule and over budget, the Office of Regulatory Staff is taking a hard look at whether or not it’s fair for customers. The reason: because customers are helping pay for the company’s nuclear reactor project.
“We still don’t know what the cost is gonna be,” said environmental activist Tom Clements. “We’re being forced under duress to pay for a project we’re getting nothing from.”
Read more here
2.6% rate hike approved
Electric rates will increase by about 2.6 percent beginning Oct. 30
Sept. 24, 2015
Controversial Baseload Review Act allows regulated utilities to recover finance costs up front
South Carolina Electric and Gas Co. was given the go-ahead Wednesday to raise residential electric rates by nearly 2.6 percent to help finance the cost of two nuclear reactors under construction at the V.C. Summer plant in Fairfield County.
The new rates, approved unanimously, would increase the monthly bill of an SCE&G customer who uses 1,000 kilowatt hours of electricity by roughly $4, to $149. The rate hike will generate about $69 million in revenue for the power company. Electric rates for SCE&G commercial customers would also rise by up to 3 percent, depending on the size of the business operation.
Read more here