Tuesday, Dec. 13, 2011
CHARLESTON, S.C. (AP) -- The state-owned utility will begin raising rates next year to pay for two nuclear power plants.
The Post and Courier of Charleston reported the board of Santee Cooper plans to raise rates for three consecutive years, starting next year. Santee Cooper expects each increase to be about 3 or 4 percent but the exact amount won't be determined until 2012.
The utility already has spent nearly $1 billion to construct two new units at the V.C. Summer Nuclear Station in Fairfield County. Santee Cooper is building the plants with South Carolina Electric & Gas Co.
The utilities hope to receive a license for the reactors early next year.
SCE&G has said its customers can expect increases of about 2 percent each year through 2019 to pay for the units.
(Copyright 2011, The Associated Press)