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South Carolina nuclear company wants ratepayers to pay upfront for new nuclear units being built

nuclear-costs1SCE&G wants to raise rates again to pay for nuclear units, Post & Courier, Warren L. Wise May 29 2015 South Carolina Electric & Gas Co. wants to raise electric rates an overall 2.78 percent to help pay for new nuclear units being built north of Columbia.

The Cayce-based utility, part of SCANA Corp., filed for the increase Friday with the S.C. Public Service Commission and the state Office of Regulatory Staff.

The $70 million-a-year request is part of a 10-year series of price hikes expected annually through 2018 to offset the $10 billion costs of building two units at V.C. Summer Nuclear Station in Fairfield County.  The new units will come online at the end of the decade. SCE&G jointly owns the nuclear power plant with state-owned utility Santee Cooper of Moncks Corner…………

Commercial and industrial customers would also see their bills go up.

The rate hike would take effect in October if approved. SCE&G serves about 692,000 electric customers across South Carolina. About half are in the Charleston area.

Rates for SCE&G customers have jumped 14 times over the past seven years. Seven of those were connected to the nuclear units. http://www.postandcourier.com/article/20150529/PC05/150529222/sceg-wants-to-raise-rates-again-to-pay-for-nuclear-units

May 30, 2015 - Posted by | business and costs, USA

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