GASTONIA, N.C., Oct. 31, 2016 /PRNewswire/ -- PSNC Energy (PSNC), a wholly owned subsidiary of SCANA Corporation (NYSE: SCG), announced today, 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. This will allow PSNC to track and provide for ongoing recovery of expenses related to PSNC's transmission and distribution pipeline integrity management programs.

https://photos.prnewswire.com/prnvar/20111004/CH80784LOGO

"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.

PROFILE
PSNC, 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.

Public Service Company of North Carolina, Inc.
Retail Natural Gas Base Rate Increase
Approved by the
North Carolina Utilities Commission

Highlights

Timeline:



    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 9.7%

    Retail Natural Gas Rate Base                       $947 Million

    Return on Rate Base                                       7.53%

    Return on Common Equity                                   9.70%




    Media Contact:   Analyst Contacts:

    Persida Montanez Bryant Potter     Susan Wright

    (919) 836-2321   (803) 217-6916    (803) 217-4436

Logo - http://photos.prnewswire.com/prnh/20111004/CH80784LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/north-carolina-utilities-commission-approves-increase-to-psnc-energy-base-rates-and-implementation-of-an-integrity-management-tracker-mechanism-300353993.html

SOURCE SCANA Corporation