House Speaker Jay Lucas released the following statement after the House passed legislation to reform the Public Service Commission by a vote of 108-1. The legislation strengthens ethical standards to limit outside utility influence, shortens length of terms from six to four years, requires stricter questioning of parties by commissioners before making a decision, provides ability to inspect utility construction sites and staggers the election terms for current commissioners.
“The VC Summer nuclear fallout has exposed a significant lapse of oversight by the Public Service Commission in its approval of nine rate hikes for SCE&G customers. The passage of today’s bill prevents these mistakes from occurring again by increasing accountability for commissioners through shorter and staggered terms of service. Additionally, strengthening ethical requirements and prohibiting outside influence from regulated utilities will ensure the PSC refocuses its efforts on the intended purpose of promoting fairness for South Carolina ratepayers.
“As the House passes its fourth ratepayer protection bill, I am hopeful that the Senate will soon begin to follow through with its commitment to provide immediate relief to ratepayers. The Upper Chamber’s failure to consider ratemaking legislation requires SCE&G ratepayers to continue to pay $1.2 million per day for a failed nuclear project.”
