North Carolina approves base rate increase for SCANA utility

PSNC Energy (PSNC), a wholly owned subsidiary of SCANA Corporation (NYSE: SCG), announced Oct. 31 that in an unanimous decision, the North Carolina Utilities Commission has issued an Order in PSNC’s general rate case application authorizing PSNC to increase its base rates.

In addition, the Order established the authority for PSNC to implement an Integrity Management rider and establish regulatory accounting treatment for distribution integrity management operations and maintenance expenses.

The Order provides for an increase in PSNC’s annual natural gas margin revenues of approximately $19.1 million, or 4.39 percent. The new rates will be effective for service rendered on and after November 1, 2016. The average year-round residential customer would see a monthly increase of approximately $2.00.