SCE&G + Santee Cooper’s nuclear “meltdown” 

by Rachel Propst, Consultant, RayWell Solar

The nuclear “meltdown” has been a hot topic in the news recently. Here are some interesting clarifications that you should know about…

  • SCE&G has increased utility rates almost 20% since 2009 to finance construction of nuclear reactors. To-date, those increases have collected $1.4 billion, a number expected to grow to $1.9 billion by the end of 2017.
  • SCE&G recently petitioned to halt construction on the nuclear reactors and to charge customers for the money SCE&G has spent on the project (up to $4.9 billion plus ROI).
  • They then withdrew their petition – not because they plan to continue construction or promise not to raise rates but because they wanted to extend their 6-month deadline for the decision to give the Public Service Commission more time to rule on the petition.
  • SCE&G could potentially hold ratepayers responsible for paying back even more than $4.9 billion due to the legislation stating that the utility is entitled to a “return on investment” from customers. Early estimations state they are looking to ask for a 10.25% rate of return over a 60-year period.

The time is NOW to break free of rising utility rates and go solar for your home or business! Solar creates energy independence that makes dollars and sense.

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