SCE&G to cut utility rates by an average of $5 a month to appease angry rate-payers
SCANA announced, Thursday, that it plans reduce the utility bills of customers in the wake of its failure to complete the construction of two nuclear reactors. The giant power company also announced it will purchase a gas-fired power plant in place of the reactor-generated energy.
“We’ve heard our customers’ frustrations about paying for a power plant and having nothing to show for it,” said Keller Kissam, SCE&G’s president of retail operations. “This proposal gives customers additional power generation while also lowering rates for customers.”
SCE&G plans to cut residential electric rates to March 2015 levels. The savings would amount to an average of a little more than $5 a month per customer. The reduction in the rate is an effort to cancel the two rate hikes SCANA was granted for the defunct V.C. Summer nuclear project in Fairfield County. SCE&G released a statement later announcing that the 3.5 percent reduction applies to commercial and industrial customers, in addition to residential. The deal is pending approval from the S.C. Public Service Commission.