SCE&G to Appeal Federal Court Denial of Preliminary Injunction
SCANA (SCG)
Last scana earnings: 10/25 07:30 am
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Source: PR Newswire
CAYCE, S.C., Aug. 7, 2018 /PRNewswire/ -- South Carolina Electric & Gas Company ("SCE&G"), a subsidiary of SCANA Corporation (NYSE: SCG), announced today that it will appeal the Order of the United States District Court for the District of South Carolina denying SCE&G's Motion for Preliminary Injunction regarding implementation of Act 258. Act 258 is the South Carolina law enacted in late June which has resulted in a temporary reduction of SCE&G's retail electric rates by approximately 15 percent retroactive to April 1, 2018. In addition, among other things, Act 258 supplies definitions of key terms under the Base Load Review Act that would heighten the evidence required to establish SCE&G's ability to recover its costs associated with the new nuclear project.In connection with its appeal, SCE&G will be seeking expedited consideration from the United States Court of Appeals for the Fourth Circuit.PROFILE SCANA Corporation, headquartered in Cayce, S.C., is an e
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