SCE&G to seek more nuke funding
Oct 25, 2010 12:13:00 PM - thestate.com
S.C. Electric & Gas said Monday it plans to ask state regulators next month to have consumers pay another $150 million to $200 million to expand a Fairfield County nuclear plant.
The money will replace $438 million for estimated construction cost overruns removed from a large rate-hike package by a S.C. Supreme Court ruling in August.
SCE&G said in a regulatory filing Monday that it is simply responding to the courts decision by seeking commission approval to reclassify these costs from contingency funds to specific budget categories.
The Cayce utility also said that the extra $150 million to $200 was in 2007 dollars the year the utility first sought the rate hike. That equals $158 million to $211 million in current dollars.
Last year, state regulators approved a plan by the utility to raise electric rates every year until the second of two reactors is added to the V.C. Summer Nuclear Station in Jenkinsville in 2019.
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