Columbia, S.C. (WOLO)–SCANA President Keller Kissam says the company will offer ratepayers a 3.5% decrease amounting to a $90 million loss to the utility.
Kissam says while the decrease will have to be approved by regulators, it will roll rates back to where they were in March of 2015.
Kissam says the company hopes to have the decreased rate in place as soon as possible.
The decision comes after state lawmakers put pressure on the utility following the abandonment of two nuclear reactors at the VC Summer facility in Fairfield County.
Prior to the decision to end construction, SCANA implemented several rate hikes to offset the cost of the reactors.