SUMMERVILLE, S.C. (WCBD) - SCE&G proposed a residential electric rate rollback today after abandoning its nuclear project but some ratepayers said that the rate reduction is not enough.
The utility company proposed a $4.8 million dollar solution to replace the nuclear project. Part of the proposal includes an immediate 3.5 percent reduction in rates, or about $5 off a monthly bill. Rates would be rolled back to what they would have been in March 2015. Rates have been increased by 18 percent to pay for the nuclear project. The rate reduction would lower the amount that customers are charged for the failed reactors but they would still be paying for them for the next 50 years.
SCE&G collects $37 million each month from customers for the nuclear plant at current rates.
News 2 spoke to Summerville residents about the proposed SCE&G rate reduction. Many said that the change is a good start.
"I'm okay with that getting a reduction in my bill," said Katie Sicard, a Summerville resident. "It's a pricey bill as it is."
But some residents said that more needs to be done.
"2015 [rates] would be fine but also they have a lot of other problems there in reference to rates and what's going on upstate at the nuclear power plant," said Alfred Papillon, another town resident. "That would be a start, it would be nice but I think they need to get their ducks in a row."
Summerville business owner and resident France Hanebrink said, "It certainly doesn't come close to the money that they are taking from everybody for this failed project."
The rate reduction would require the approval from the Public Service Commission, an executive board that regulates state utilities.