Gastonia, N.C., October 22, 2007 … PSNC Energy, a wholly owned subsidiary of SCANA Corporation (NYSE: SCG), announced today that the North Carolina Utilities Commission has approved its request to implement residential service Rate 101, which has a winter and summer energy charge. The approved winter energy charge for Rate 101 is approximately $1.34 per therm, and the winter billing period is November 1 through April 30. The approved summer energy charge for Rate 101 is $1.29 per therm, and the summer billing period is May 1 through October 31.
Rate 101’s winter energy charge goes into effect with November residential bills and takes the per therm cost for residential customers from approximately $1.31 to approximately $1.34.
“With Rate 101 in place, all residential customers will pay the same rate for their natural gas service regardless of their usage,” explained Rusty Harris, PSNC Energy President and COO.
While Rate 101 replaces the company’s dual residential rate structure implemented last fall, PSNC Energy’s allowed rate of return, which is the lowest among all regulated electric and natural gas utilities in the state, is unchanged from what was approved in the company’s 2006 rate case.
PSNC Energy, headquartered in Gastonia, N.C., is franchised to serve a 28-county service area in North Carolina. The utility distributes natural gas to approximately 441,000 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.
SCANA Corporation, a Fortune 500 company headquartered in Columbia, South Carolina, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. The company serves approximately 630,000 electric customers in South Carolina and more than one million natural gas customers in South Carolina, North Carolina and Georgia. Information about SCANA and its businesses is available on the company’s website at www.scana.com.