COLUMBIA, S.C. (Oct. 2, 2008) – SCE&G adjusted the purchased gas portion of its natural gas rates for October, resulting in a residential bill decrease of $0.47, or 1.76 percent, when compared with September rates at an average October usage of 13 therms. Compared to a year ago, the average October bill will be down $1.24, or 4.52 percent.
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.
To help level out the impact on customers of price changes in the wholesale natural gas market, SCE&G makes monthly adjustments to natural gas rates based on a rolling 12-month forecast of purchased gas costs. These adjustments are reviewed and approved by the South Carolina Office of Regulatory Staff and the Public Service Commission of South Carolina.
SCE&G is a regulated public utility that provides natural gas service to approximately 303,000 customers in South Carolina. SCE&G also is engaged in the generation, transmission, distribution and sale of electricity to approximately 646,000 customers throughout the state. Information about SCE&G is available on the company’s web site at www.sceg.com.