SCE&G electric rates going up 1.1 percent

SCE&G has received an OK from state regulators to raise electric rates on average 1.1 percent starting at the end of the month.

It's the second hike to help pay for SCE&G's portion of the $9.8 billion expansion at the V.C. Summer Nuclear Station in Fairfield County.

Starting on Oct. 30, the average residential monthly bill will rise about $1.40. Rates rose by 0.4 percent in March, adding 48 cents to a typical monthly bill for SCE&G's 652,000 customers.

The Columbia-based utility has said charging customers for construction costs while the reactors are built will save $1 billion in financing costs.

SCE&G and state-owned Santee Cooper are partners on building two 1,117-megawatt nuclear electric-generating reactors. The first unit should start 2016.

The utility received state permission in February to phase in a 37 percent rate hike over the next decade for the plant expansion.

By January 2019, when the second new reactor is expected to go online, the average residential monthly bill will rise by about $40 to $147.11.

- Andrew Shain