COLUMBIA, S.C. (July 7, 2008) – SCE&G adjusted the purchased gas portion of its natural gas rates for July, resulting in a 1.91 percent increase from June in overall costs to residential customers based on average usage for the month. Compared to a year ago, the average July bill will be up $2.22.
Purchased-gas costs account for about 70 percent of a customer’s overall gas bill. The cost of gas purchased by SCE&G through its wholesale providers is passed on to customers without any markup. SCE&G does not profit from this portion of its rates.
SCE&G makes monthly adjustments to the purchased gas portion of its rates to help diminish the impact on customers of price volatility in the wholesale natural gas market. Adjustments are calculated based on a rolling 12-month forecast of purchased gas costs
SCE&G is a regulated public utility that provides natural gas service to approximately 305,000 customers in South Carolina. SCE&G also is engaged in the generation, transmission, distribution and sale of electricity to approximately 643,000 customers throughout the state. Information about SCE&G is available on the company’s web site at www.sceg.com.