COLUMBIA, S.C. (Feb. 1, 2008) – SCE&G has reduced the purchased gas portion of its natural gas rates for February, resulting in a 2.99 percent decrease from January in overall costs to residential customers. Compared to a year ago, the average February bill will be down $2.58, or 1.63 percent, based on 97 therms of usage.
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. The company 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 297,000 customers in South Carolina. SCE&G also is engaged in the generation, transmission, distribution and sale of electricity to approximately 636,000 customers throughout the state. Information about SCE&G is available on the company’s web site at www.sceg.com.