CAYCE, S.C., June 15, 2018 /PRNewswire/ -- South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), today filed with the Public Service Commission of South Carolina and the South Carolina Office of Regulatory Staff for a $22.6 million, or 5.29 percent, overall decrease to its retail natural gas base rates. The decrease is driven by the lower corporate tax rate under tax reform and the Company's operating results.
SCE&G filed for a decrease under the terms of the Natural Gas Rate Stabilization Act, a South Carolina law designed to improve and maintain natural gas service infrastructure to meet the needs of customers.
If approved, the rate decrease would be effective with the first billing cycle of November. Residential natural gas customers would see their bills decrease by approximately 7.4%, or $4.09 per month based on annual average usage.
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. The Company serves approximately 723,000 electric customers in South Carolina and approximately 1.3 million natural gas customers in South Carolina, North Carolina and Georgia. Information about SCANA and its businesses is available on the Company's website 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.