House passes VC Summer conference committee reports

Provides Rate Relief and Repeals Base Load Review Act

Provisions included in conference reports on S. 954 and H.4375:

• Reduces the nuclear surcharge from over 18% to 3.19% by removing every SCE&G rate increase approved after 2010
• Repeals the Base Load Review Act
• Reforms the Public Service Commission (PSC) and the Office of Regulatory Staff (ORS)
• Creates a consumer advocate for ratepayers
• Allows for long term rate relief by defining the terms of “prudent” and “imprudent”
• Gives ORS the tools needed to access confidential documents of utilities and subpoena powers
• Eliminates the July 12, 2018 deadline whereby the PSC must make a decision on the SCANA-Dominion merger
• Establishes a new timeline for the PSC to make a decision by December 21, 2018.

House Speaker Jay Lucas (District 65-Darlington) issued the following statement after the House approved two different conference reports that address the VC Summer nuclear fallout.

“Today, the House took a tremendous step to provide permanent long-term and immediate relief for South Carolina ratepayers. Since the VC Summer nuclear fallout was discovered last July, the House has diligently led the charge to comprehensively enhance ratepayer protections. These conference reports accomplish this goal by reducing rates and systemically reforming government agencies.  It also eliminates a private company’s ability to commit fraud while building fortunes on the backs of hardworking and honest energy customers. I am very thankful that after weeks of negotiating, the House and Senate conferees were able to work together and develop a meaningful solution to the VC Summer nuclear fallout for the betterment of South Carolina families.”