House votes to drop SCE&G nuclear premium rate to zero

House Speaker Jay Lucas (District 65-Darlington) issued the following statement after the House voted to nonconcur with the Senate amendment to S. 954.

“By allowing SCANA to continue to collect money from hardworking SCE&G ratepayers for a failed and fraudulent nuclear project, the Senate is sending a clear message that it prioritizes big business over South Carolina families. The legislative process is designed to work out policy disagreements by way of a conference committee, rather than caving to a particular body’s demands. The House is committed to advocating for full and total relief for SCE&G customers and our conferees stand ready to continue the fight for ratepayers.”

Background: The legislation is now set to go to a conference committee where three House members and three Senators will work out the differences between its respective versions. The original version of the Senate amendment did not include any ratepayer relief and was amended by the House to drop the 18% monthly nuclear premium temporarily to zero.  Once the Senate received the legislation again, it was amended to its current form which allows SCANA to charge a 5% monthly premium for the $9.5 billion failed VC Summer nuclear project.

Besides this piece of legislation that provides temporary relief until the beginning of next year, the House has passed four bills addressing the VC Summer nuclear fallout that have failed to make any significant movement in the Senate:

(1) H.4375 – Long-term ratepayer protection relief that drops the nuclear surcharge from 18% to 0% permanently;

(2) H.4379 – Create a consumer advocate within the Office of Regulatory Staff (ORS);

(3) H.4377 – Public Service Commission reform (PSC); and

(4) H.4378- Create a Utility Oversight Committee.