Dive Summary:

• South Carolina Electric & Gas (SCE&G) is reducing its rate increase request form 6.6 percent to 4.23 percent after reaching an agreement with several parties who were opposed to the increase.
• The new increase still requires approval by the state's Public Service Commission, which is expected to begin discussing the matter next week; the increase will increase average customer's bills by $2.59 a month or about $31 a year.
• SCE&G, which serves 669,000 customers in the state, still stands to make $97 million as a result of the revised request.

From the article:

SCE&G will slash its rate increase request to the S.C. Public Service Commission for electric customers, the company said after reaching a deal with several parties opposing the increase.

The deal would save the average customer about $50 a year from the original request and would reduce the return for investors. ...