Lawmakers cut SCE&G rates, kill unpopular law
Faster than expected, lawmakers acted on SC Electric & Gas rates this week.
Spurred by public criticism and the abandonment of a $9 billion nuclear project, House and Senate members Wednesday:
• Cut the nuclear surcharge from over 18% to 3.19%, removing SCE&G rate increases after 2010.
• Repealed the unpopular Base Load Review Act that let SCE&G run up rates on its 700,000 ratepayers to $37 million a month.
• Reformed the equally unpopular Public Service Commission and the Office of Regulatory Staff,
• Created a consumer advocate for ratepayers.
House Speaker Jay Lucas said this “eliminates a private company’s ability to commit fraud while building fortunes on the backs of hardworking and honest energy customers.”
More details on other SCE&G reforms in Thursday's Chronicle.