SCE&G filed for the increase in May under provisions of South Carolina’s Base Load Review Act (BLRA), a law enacted in 2007 to add structure and consistency to the process regulated electric utilities must follow when building nuclear power plants.
SCE&G and Santee Cooper, an electric and water utility, are working to construct two 1,117MW nuclear power units at the site of the V.C. Summer Nuclear Station near Jenkinsville in South Carolina.
The BLRA allows for annual adjustments to rates during construction of the power units as a means of recovering financing costs associated with the project, SCE&G said.
