Charleston, SC - CHARLESTON, SC (AP) - South Carolina Electric & Gas is proposing millions in credits to its customers to ease the impact of a 9.5 percent rate hike.
The Post and Courier of Charleston reported Tuesday the company says the move would effectively reduce the rate increase to about 6.5 percent.
SCE&G has proposed a total of $25 million credit to its customers and plans to reduce the amount of profit shareholders would get from the rate increase.
Company spokesman Eric Boomhower says the state Office of Regulatory Staff has signed off on the changes but details still must be worked out.
SCE&G says it needs to raise an extra $1 billion, in part to pay for environmental improvements to coal-powered plants.