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North Carolina Utilities Commission Approves Increase to PSNC Energy Base
Rates and Implementation of an Integrity Management Tracker Mechanism
Gastonia, N.C., October 31, 2016… PSNC Energy (PSNC), a wholly owned subsidiary of SCANA
Corporation (NYSE: SCG), announced today, that in an unanimous decision, the North Carolina
Utilities Commission has issued an Order in PSNC’s general rate case application authorizing PSNC
to increase its base rates. In addition, the Order established the authority for PSNC to implement an
Integrity Management rider and establish regulatory accounting treatment for distribution integrity
management operations and maintenance expenses. This will allow PSNC to track and provide for
ongoing recovery of expenses related to PSNC’s transmission and distribution pipeline integrity
management programs.
“Since 2008, PSNC Energy has taken a number of steps to ensure that its system is well-positioned
to serve its customers now and in the future,” said PSNC’s President and Chief Operating Officer,
Rusty Harris. “PSNC Energy’s customer base has grown as demand for natural gas continues to
grow. The Commission’s Order will allow us to recover costs associated with the investments needed
to provide safe and reliable service to our customers as well as enhance and expand our system to
serve our customers more efficiently.”
The Order provides for an increase in PSNC’s annual natural gas margin revenues of approximately
$19.1 million, or 4.39 percent. The new rates will be effective for service rendered on and after
November 1, 2016. The average year-round residential customer would see a monthly increase of
approximately $2.00.
PROFILE
PSNC, headquartered in Gastonia, N.C., is franchised to serve a 28-county service area in North
Carolina. The utility distributes natural gas to approximately 536,000 customers in 96 cities and
communities. More information about PSNC is available through the company's Web site at
www.psncenergy.com.
SCANA Corporation, headquartered in Cayce, SC, is an energy-based holding company principally
engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related
businesses. Information about SCANA and its businesses is available on the company’s website at
www.scana.com.
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Public Service Company of North Carolina, Inc.
Retail Natural Gas Base Rate Increase
Approved by the
North Carolina Utilities Commission
Highlights
Timeline:
Letter of Intent Filed:
Application Filed
Docket Number
Public Hearing
Requested Effective Date
February 17, 2016
March 31, 2016
G-5, Sub 565
Summer 2016
November 1, 2016
Test Period Data:
Test Period
Retail Natural Gas Rate Base
Return on Rate Base
12 Months Ended Dec. 31, 2015, As Adjusted
$843 Million
7.84%
Approval in Final Order:
Total Annual Revenue Increase
Retail Natural Gas Rate Base
Return on Rate Base
Return on Common Equity
$19.1 Million, approximately 4.39%
$947 Million
7.53%
9.70%
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