Media Contact (PSNC Energy):
Columbia, SC, October 24, 2006 - PSNC Energy, a subsidiary of SCANA Corporation (NYSE: SCG) that distributes natural gas in North Carolina, announced today that the North Carolina Utilities Commission has issued an order in the company's general rate case application authorizing PSNC Energy to increase its rates and charges by $6 million annually. The new rates and charges will go into effect with November bills.
The order provides for an increase in PSNC Energy’s annual natural gas margin revenues of approximately $15.2 million, or 2.6 percent, which is offset by a $9.2 million reduction in PSNC Energy’s fixed gas costs. The end result is a net annual increase of $6 million, or an overall increase of one percent. The impact on residential customers averages out to an increase of approximately $2.24 a month.
The last time PSNC Energy increased its base rates was 1998. Since that time, the company has added more than 2,200 miles of transmission and distribution mains, installed 126,725 new service lines, and had more than 100,000 customers come on its system.
“In the past eight years, we’ve invested approximately $321 million upgrading and expanding our gas delivery system to meet the needs of our customers,” said Rusty Harris, PSNC Energy’s president and chief operating officer. “It’s essential that we be allowed to recover costs associated with growing and maintaining our infrastructure. The Commission's order will allow us to continue operating a reliable and efficient system for the growing areas we serve."
PSNC Energy, headquartered in Gastonia, N.C., is franchised to serve a 28-county service area in North Carolina. The utility distributes natural gas to approximately 424,000 customers in 96 cities and communities, including the Raleigh, Durham, and Chapel Hill areas in the north central part of the state; the Concord, Statesville, Gastonia, and Forest City areas in the Piedmont; and the Asheville, Hendersonville, Brevard, and Sylva areas in the western part of the state. More information about PSNC Energy is available through the company’s web site at www.psncenergy.com.
SCANA Corporation, a Fortune 500 company headquartered in Columbia, 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 617,000 electric customers in South Carolina and approximately 1.2 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.