Electric rates may be cut after failed nuclear plants

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By JEFFREY COLLINS

Associated Press

COLUMBIA, S.C. (AP) – Customers of South Carolina Electric & Gas could see their rates cut by nearly 15 percent, under a compromise plan being considered by state legislators after the company oversaw two failed nuclear plants.

But lower rates aren’t the only thing at stake. If lawmakers approve the proposal Wednesday, it could also scuttle a proposed SCE&G merger with Virginia-based Dominion Energy.

The proposal endorsed by a House-Senate conference committee Wednesday after weeks of negotiation also pushed back a decision by regulators until the end of the year on how to split the debt between customers and shareholders of SCE&G’s parent company SCANA Corp.

Gov. Henry McMaster on Wednesday renewed his promise to veto any bill that doesn’t cut rates by a full 18 percent.

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