SCE&G Wants to Hike Rates for New Reactors

Columbia (AP) -- South Carolina Electric & Gas says it wants to raise bills by 2.5 percent annually over the next 11 years to pay for two new nuclear reactors. The (Columbia) State reports the rate increases could begin as soon as next March if the South Carolina Public Service Commission approves the request. SCE&G says it wants to raise rates to pay for construction costs for the nearly $10 billion joint project to build two new reactors at the V.C. Summer nuclear plant in Fairfield County along with Santee Cooper. SCE&G hopes to get permits to start construction in 2011, with the first reactor starting to generate power in 2016 and the second in 2019. SCE&G will pay 55 percent of the cost, while Santee Cooper will pay 45 percent.