Scana (SCG) said Thursday it entered into a settlement agreement with the public staff of North Carolina Utilities Commission and the Carolina Utility Customers Association on retail natural gas base rates.
The settlement agreement will be submitted to the NCUC during a public hearing scheduled for Aug. 22 in Raleigh.
The settlement agreement would provide for an increase in Columbia, S.C.-based PSNC Energy's annual natural gas margin revenues of about $15.2 million, or 2.6%. This is about 54% of the $28.4 million, or 4.9%, increase requested by the company.
The settlement agreement also included a reduction in PSNC Energy's fixed gas costs, which represent a pass-through of about $9.2 million for the company.
This would result in a net annual increase in rates and charges to customers of about $6 million, or 1%.
If approved by the NCUC, the settlement agreement would become effective on Nov. 1.
"While we were prepared to demonstrate our need for the full amount of our initial request, we believe we can operate our system reliably and efficiently based upon this increase in our base rates," the company said.
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