Gastonia, N.C., May 22, 2007 … PSNC Energy, a wholly owned subsidiary of SCANA Corporation (NYSE: SCG), announced today that the North Carolina Utilities Commission has approved its request to move all its standard rate customers to the company’s lower value rate, which is approximately $1.18 per therm. As a result, all PSNC Energy residential customers will pay the same per therm cost for natural gas service effective June 1.
Also in its Order, the commission has requested that PSNC Energy establish a new residential rate structure by November 1.
“Because the value and standard rates were determined by summer usage, we felt it was important to have this change in place by June,” said PSNC Energy President and COO Rusty Harris. “We know that these rates had created the unintended perception among some of our customers that we discouraged wise energy use. Hopefully, this one rate during the summer months will put to rest any concerns about usage habits.”
Harris emphasizes to customers that this change is only temporary as indicated in the commission’s Order. PSNC Energy is now beginning the process of identifying a rate structure that more equitably distributes operating costs.
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 446,000 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, South Carolina, 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 630,000 electric customers in South Carolina and more than one 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.