CAYCE, SC (WIS) - SCE&G, through the Natural Gas Rate Stabilization Act, has filed for a decrease in their retail natural gas base rates, which could lead to slightly cheaper bills for customers starting as soon as November.
The reduction would be a 5.29 percent decrease to the rates which would translate to a modest bill decrease of around 7.4 percent, or $4.09 a month, based on average annual usage, according to SCE&G.
The Natural Gas Rate Stabilization Act was introduced and signed into law in 2005. According to the code, the law was designed to "provide for a procedure for the adjustment of rates and charges of natural gas distribution utilities to reflect changes in expenses, revenues, investments, depreciation, and other changes..." The Act allows the distributor to file for rate adjustments (increases or decreases) at its discretion, but all filings are reviewed before being approved.
SCE&G attributes the decrease filing to the lower corporate tax rate established in tax reform and the company's operating results.