SCE&G seeking rate hike due to nuclear power plant costs

Associated Press

South Carolina Electric & Gas Co. is asking for a nearly 3 percent rate increase due to overruns in the cost of building two new nuclear reactors.

COLUMBIA, S.C. (AP) — South Carolina Electric & Gas Co. is asking for a nearly 3 percent rate increase due to overruns in the cost of building two new nuclear reactors.

South Carolina media outlets report the increase, if approved by state regulators, would first appear on the bills of the utility's almost 700,000 customers in November.

The company says the increase will add about $4 to the bill of an average residential customer. The bill for those using about 1,000 kilowatt hours of power a month will increase to about $150.

The increase is tied to the cost of new reactors at the V.C. Summer Nuclear Station about 25 miles northwest of Columbia. The cost of the reactors is $514 million more than initially forecast and now estimated at $6.8 billion.

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