COLUMBIA, SC (WIS) - A federal judge rules that SCE&G customers will get a 15 percent rate cut as a result of the failed VC Summer Nuclear project.
U.S. District Judge J. Michelle Child's has rejected SCE&G's arguments that the temporary 15 percent rate cut would harm the company.
It is a major victory for the state legislature that pushed hard to get some rate relief for SCE&G customers.
"Having submitted a brief in this case, we are very pleased with Judge Childs' thoughtful and well-reasoned order," said South Carolina Attorney General Alan Wilson in a statement. "The decision is a victory for SCE&G ratepayers. "
These are the first concessions made by SCE&G's parent company, SCANA after the utility abruptly abandoned the failed $9 billion nuclear project last year.
Monday's decision will reduce the electric bills for more than 700,000 homeowners, and businesses immediately.
Those customers should also expect to get a rebate, retroactive between April and July of this year. The rate cuts will remain in place through the end of the year.
The South Carolina Public Service Commission has until December to decide whether SCE&G or its ratepayers will pay for the abandoned power plants over the next several decades.
You can read the entire motion here.
Dominion also offered a statement following Monday's decision. It reads: