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SCANA unit files request for $41.6M annual revenue increase

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Essential Energy Insights - January 2021


SCANA unit files request for $41.6M annual revenue increase

SCANA Corp.said that its subsidiary PSNC Energy on March 31 filed a request with the NorthCarolina Utilities Commission for a general increase of about $41.6 million, orapproximately 9.7%, in annual revenue, for operation and expansion costsrecovery, according to the company's news release.

PSNC needs to recover costs to operate and expand itspipeline system, implement an integrity management rider, and establish a deferralmechanism for distribution integrity management operations and maintenance expenses. Theaverage year-round residential customer would see a monthly increase ofapproximately $3.41, upon the request's approval.

In its filing, PSNC is seeking authority to include $2million of distribution integrity management program operations andmaintenance, or O&M, expenses incurred through Dec. 31, 2015, in thecompany's cost of service, as well as to continue the deferred accountingtreatment for transmission integrity program-related O&M expenses whiledeferring distribution integrity management program-related expenses in excessof $2 million.

PSNC is also requesting approval of a rates rider to trackand provide for ongoing recovery of capital expenses in the company'stransmission and distribution pipeline integrity management programs.

Since its last rate filing in 2008, the company had about$609 million of capital investment in its utility property, has installed morethan 1,424 miles of transmission and distribution mains, and added about 77,000customers to its system.

PSNC estimates that it will spend an additional $149 millionin plant capital investments by June 30, the release said.