South Carolina Electric & Gas Company intends to appeal a federal judge’s denial of their motion for preliminary injunction to prevent a rate cut from going into effect, according to a news release.
The rate cut stems from a law passed by the South Carolina General Assembly in June which reduces the cost of electricity for customers by about 15 percent. This comes after the legislature had passed a previous law allowing the increase to pay for a now-defunct nuclear construction project.
The Associated Press reports that beginning Aug. 7, customers began receiving credits worth about $25 a month for the retroactive cut. The law is retroactive to April and will be in effect until the end of 2018.
The AP reports that SCE&G said the law will cost the company $270 million.
The release said SCE&G will seek expedited consideration from the 4th U.S. Circuit Court of Appeals.