SC Biz News

Energy

Subscribe to Our Digital Newsletters

SCANA reports financial results for 1Q 2017

Energy
  • Staff Report
Print Story
  • Share

A mild winter caused SCANA Corp.’s first-quarter earnings to be slightly less than what was made in the first quarter of 2016.

The Cayce-based energy provider announced today that earnings for the first quarter totaled $171 million compared with $176 million for the first quarter of 2016.

 “Weather in the first quarter of this year was significantly milder than normal,” said Jimmy Addison, executive vice president and CFO. “While this mild weather caused lower electric margins, gas margins were up due to rate increases and customer growth in our North and South Carolina businesses.”

South Carolina Electric & Gas Co., the corporation’s principal subsidiary, recorded earnings of $112 million for the first quarter of 2017 compared with $116 million for a similar period in 2016.

As of March 31, SCE&G serves about 713,000 electric customers and 361,000 natural gas customers in South Carolina. The utility recorded a 1.6% increase in electric customers and 2.8% increase in gas customers over the last quarter of 2016.

  • Share
1 Comment
Write a Comment

April 28, 2017

SCANA management and investors should be held accountable for the multiple bad decisions on the Nuclear Power Plant construction that is now in Bankruptcy Court (Westinghouse). The consumer that had no vote and little voice should not be forced to pay higher rates for these bad decisions. Management salary and bonus should be effected and stockholders share price and dividends should be effected. Both of these groups had a vote and voice in these bad decisions. Robert Stewart Lexington SC