CAYCE, S.C. (January 5, 2010) – South Carolina Electric & Gas (SCE&G) has adjusted the purchased gas portion of its natural gas rates for January, resulting in a decrease of $5.21, or down 3.59 percent, from December in overall costs to residential customers based on average usage for the month. Compared to a year ago, the average January bill will be up $1.39, or 1 percent.
Purchased-gas costs account for more than 50 percent of a customer’s overall gas bill, based on a 12 month average. 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, upward or downward, based on a rolling 12-month forecast of purchased gas costs. These adjustments are reviewed by the South Carolina Office of Regulatory Staff and the Public Service Commission of South Carolina.
South Carolina Electric & Gas Company is a regulated public utility engaged in the generation, transmission, distribution and sale of electricity to approximately 654,000 customers throughout central, southern and southwestern portions of South Carolina. The company also provides natural gas service to approximately 306,000 customers throughout the state. Information about SCE&G is available on the company’s web site at www.sceg.com.