Electric bills got you down? Then get down to the State House.

Electric bills got you down? Then get down to the State House.

This Tuesday, November 29, a committee of 8 S.C. House members will hold a public hearing on how utility companies finance construction projects.

At issue is SCE&G customers seeing almost a 20% increase in electric rates since 2009 just to pay for the construction financing costs of the 2 nuclear plants being built in Fairfield County.

The annual rate hikes are permitted by a law passed in 2007 called the Base Load Review Act. This Act was intended to enable a utility to build large, risky generation facilities like the nuclear plants.

Unfortunately the Act has turned into a blank check for the utility, allowing it to be about $2.6 billion (22%) over budget and 3 years behind schedule with no negative consequences to SCE&G. Rather, the company actually is making more profit on the project than if they had kept on budget and schedule.

Join us at the public hearing starting at 10:30 the morning of the 29th.  Legislators are asking for your input on this issue and will be considering amending the Act.  The hearing will last all day.

PUBLIC HEARING:

Select Committee on Energy Generation Financing
Tuesday, November 29, 2016
10:30AM – Until
403 Blatt Building
Columbia, SC