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SCE and G customers will continue paying for nuke project, even though it won’t be built

BY SAMMY FRETWELL, sfretwell@thestate.com, AUGUST 02,2017COLUMBIA, SC  Even though SCE&G won’t finish a multi-billion dollar nuclear expansion project in Fairfield County, customers will continue paying about one-fifth of their monthly power bills for the work.

Rates that customers now are charged for the project already are in the company’s rate base and “will remain so moving forward,’’ SCE&G spokesman Eric Boomhower said in an email Wednesday night.

The company has hit customers with nine power bill increases to finance the project in less than a decade.

SCE&G abandoned the nuclear project this week, but under a 2007 state law, can continue charging customers for the work unless the state Public Service Commission says otherwise.

Collectively, SCE&G and partner Santee Cooper have spent about $9 billion for the reactor project. As an investor owned-utility, SCE&G will seek to recover its share of the amount it has already spent, which was about $5 billion.

 Customers of SCE&G have paid about $1.4 billion as a result of company rate increases to fund the two new reactors at the V.C. Summer plant northwest of Columbia. They’re paying, on average, about 18 percent of their monthly power bills for the nuclear work.

Officials with the state Office of Regulatory Staff said they don’t expect the state Public Service Commission to change any rates this year for the SCE&G project in Jenkinsville…… http://www.thestate.com/news/state/article165119542.html

August 4, 2017 - Posted by | business and costs, USA

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