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SCE&G asks for 3 percent electric rate increase

CAYCE, S.C. (AP) -- South Carolina Electric and Gas is asking to increase its electric rates by about 3 percent to help pay for costs of building two new nuclear reactors.

The utility, which is a unit of SCANA Corp., asked the state Public Service Commission to let it raise rates last week.

It would be the sixth rate increase by SCE&G in four years. Many of those increases are to pay the $10 billion needed to build a pair of nuclear reactors at the V.C. Summer Nuclear Station north of Columbia. SCE&G will jointly own the reactors with state-owned Santee Cooper.

If the rate increase is approved, residential customers using 1,000 kilowatt hours of electricity would see their bills increase $4.32 a month up to $142.43.