CAYCE, S.C., June 27, 2018 /PRNewswire/ -- SCANA
Corporation (NYSE: SCG) (SCANA) and South Carolina Electric &
Gas Company (SCE&G) are evaluating their legal options
regarding a bill the South Carolina General Assembly passed today
to reduce the amount SCE&G can collect from customers under the
Base Load Review Act related to the V.C. Summer nuclear
construction project. SCANA and SCE&G believe that the
proposed legislation is unconstitutional.
The proposed legislation would temporarily reduce the portion of
SCE&G's electric rates associated with the V.C. Summer nuclear
construction project from approximately 18 percent of the average
residential electric customer's bill to approximately 3.2 percent,
or a reduction of approximately $31
million per month. This lower rate would be effective
until the Public Service Commission of South Carolina (SCPSC) renders its decision on
the joint petition that was filed in connection with the proposed
merger of SCANA with Dominion Energy.
This proposed legislation has been sent to the Governor for
signature. If the Governor chooses to veto the legislation,
as has been indicated publicly by his staff, it would return to the
General Assembly for the General Assembly to consider an override
of his veto. If enacted, the SCPSC must issue an order
within five days of the law becoming effective to implement
the proposed rate, which is to be applied retroactively to
April 1, 2018.
PROFILE
SCANA Corporation, headquartered in
Cayce, S.C., is an energy-based
holding company principally engaged, through subsidiaries, in
electric and natural gas utility operations and other
energy-related businesses. Information about SCANA and its
businesses is available at www.scana.com.
SCE&G is a regulated public utility engaged in the
generation, transmission, distribution and sale of electricity to
approximately 723,000 customers, as well as provides natural gas
service to approximately 371,000 customers throughout South Carolina. More information about
SCE&G is available at www.sceg.com.
Media
Contact:
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Investor
Contact:
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Rhonda
O'Banion
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Bryant
Potter
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(800)
562-9308
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(803)
217-6916
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SOURCE SCANA Corporation