South Carolina Electric & Gas Co. has reached a settlement agreement with two key intervenors in its annual review of base rates tied to fuel costs.
The SCANA Corp. subsidiary, along with the South Carolina Office of Regulatory Staff and South Carolina Energy Users Committee, filed their settlement agreement March 30 with the Public Service Commission of South Carolina. The entities agree that SCE&G's proposed revisions to its net energy metering retail rates, as well as its distributed energy resources programs and related costs, "are reasonable and prudent."
The utility's avoided cost and incremental cost components also are found to be reasonable and prudent, and if approved by the PSC, shall become effective for the first billing cycle in May.
In addition, the settling parties agreed to accept "all recommendations" tied to SCE&G's fuel expenses and power plant operations for Jan. 1 through April 30 of this year, as well as the utility's forecasted expenses for May 1, 2017, to April 30, 2018.
If the agreement is approved by the PSC, the proposal would increase the average monthly bill for a typical residential customer using 1,000 kWh of electricity to $148.31 from $147.53, or an increase of 78 cents. (PSC docket 2017-2-E)