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Contacts:
Angie Townsend (Raleigh)
(919) 836-2321
adtownsend@scana.com
Jodie Roberts-Smith (Gastonia)
(704) 834-6427
jroberts-smith@scana.com
March 2, 2004 - Gastonia, N.C. - The North Carolina Utilities Commission (NCUC) has approved PSNC Energy's request to decrease the fixed gas cost component of the utility's rates. PSNC Energy is a wholly owned subsidiary of SCANA Corp. (NYSE: SCG).
The decrease in this component of the rates, which will affect all customer classes, reduces the total year-round residential rate from $1.07 per therm to $1.04 per therm. The new rate goes into effect for March bills.
"We're very pleased that we can lower these costs for our customers, especially since we're still in the winter heating season," said Jerry Richardson, PSNC Energy president and COO. "This reduction in our rates is possible because we've restructured our transportation and storage contracts, which has lowered what we pay our suppliers for these services."
PSNC Energy is franchised to serve a 28-county service area in North Carolina and distributes natural gas to approximately 395,000 winter-peak customers in 96 cities and communities including the Raleigh, Durham and Chapel Hill areas in the north central part of the state; the Concord, Statesville, Gastonia and Forest City areas in the Piedmont; and the Asheville, Hendersonville, Brevard and Sylva areas in the western part of the state. More information about PSNC Energy is available through the company's Web site at www.psncenergy.com.
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