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"Since 2008, PSNC Energy has taken a number of steps to ensure that its system is well-positioned to serve its customers now and in the future," said PSNC's President and Chief Operating Officer, Rusty Harris. "PSNC Energy's customer base has grown as demand for natural gas continues to grow. The Commission's Order will allow us to recover costs associated with the investments needed to provide safe and reliable service to our customers as well as enhance and expand our system to serve our customers more efficiently."
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.
PROFILEPSNC, headquartered in Gastonia, N.C., is franchised to serve a 28-county service area in North Carolina. The utility distributes natural gas to approximately 536,000 customers in 96 cities and communities. More information about PSNC is available through the company's Web site at www.psncenergy.com.
SCANA Corporation, headquartered in Cayce, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA and its businesses is available on the company's website at www.scana.com.
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Public Service Company of North Carolina, Inc. Retail Natural Gas Base Rate Increase Approved by the North Carolina Utilities Commission HighlightsTimeline:
Letter of Intent Filed: February 17, 2016
Application Filed March 31, 2016
Docket Number G-5, Sub 565
Public Hearing Summer 2016
Requested Effective Date November 1, 2016
Test Period Data:
Test Period 12 Months Ended Dec. 31, 2015, As Adjusted
Retail Natural Gas Rate Base $843 Million
Return on Rate Base 7.84%
Approval in Final Order:
Total Annual Revenue Increase $19.1 Million, approximately 4.39% Retail Natural Gas Rate Base $947 Million
Return on Rate Base 7.53%
Return on Common Equity 9.70%
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Scana Corporation published this content on 31 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 November 2016 06:57:08 UTC.
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