SCE&G rates going up 1 percent for SC reactors

COLUMBIA, S.C. - Electricity rates will be going up for customers of South Carolina Electric & Gas Co. later this month.

 

The State reported Thursday that the Columbia utility has gotten permission to raise rates by an average of 1 percent to help pay for two nuclear reactors.

It's the second hike to help pay for SCE&G's part of the $10 billion expansion at the V.C. Summer Nuclear Station in Fairfield County.

The average residential monthly bill will go up about $1.40. The earlier rate hike for the reactors was 0.4 percent in March, about 48 cents a month for the typical customer.

SCE&G says charging customers for construction costs while the reactors are built will save $1 billion in financing costs.

SCE&G and state-owned Santee Cooper are partners on the reactors. The first unit should be online in 2016.

 

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