The Advocate of South Carolina Small Business
1717 Gervais Street • Columbia • SC • 29201
www.scsbc.org • (803) 252-5733
July 25, 2016
Public Service Commission of South Carolina
Attn: Clerk’s Office
101 Executive Center Drive
Columbia, SC 29210
Re: Docket No. 2016-224-E
Dear PSC Commissioners,
The South Carolina Small Business Chamber of Commerce asks that the request by SCE&G for an overall rate increase of 3.06% under the Base Load Review Act (Docket No. 2016-224-E) be denied or substantially reduced.
We maintain that while the law provides for an annual rate adjustment for construction financing costs, the additional construction costs previously approved have both been unwarranted due the mismanagement of the project and excessively high due to the Return on Equity requested.
The SCE&G customers have already paid about $1.1 billion in higher electric bills because of previous Base Load Review Act rate increases. Approval of another 3.06% overall rate hike will mean that these customers will have seen their electricity rates increase by about 20% since 2009. This is in addition to the approximately 17% higher rates approved in regular rate hearings since 2008.
The electricity cost burden on SCE&G customers has reached a point threatening the bottom line of businesses of all sizes and the financial security of many residential customers, especially our low, fixed income citizens.
We ask the Public Service Commission to take a bold action to protect SCE&G customers from the unnecessary transfer of their money to the big businesses that have created this economic nightmare situation.
Sincerely,
Frank Knapp Jr.
President & CEO