UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 25, 2002
South Carolina Electric & Gas Company
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(Exact name of registrant as specified in its charter)
South Carolina 1-3375 57-0248695
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1426 Main Street, Columbia, South Carolina 29201
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803) 217-9000
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Not applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events and Regulation FD Disclosure.
On October 25, 2002, South Carolina Electric & Gas Company (SCE&G), SCANA
Corporation's principal subsidiary, reported earnings of 82 cents per share in
the third quarter, up from 75 cents per share in the same period last year.
"That improvement was due primarily to warmer summer weather and solid customer
growth, which resulted in higher electric sales margins for the quarter. These
positive factors more than offset higher operating and maintenance expenses and
property taxes," said Kevin Marsh, senior vice president and chief financial
officer.
As measured by cooling degree days, temperatures across SCE&G's electric
utility service area during the quarter were 6 percent above normal and 16
percent above last year. "The impact of the warmer weather increased third
quarter earnings by 9 cents per share compared to the third quarter last year,"
said Marsh.
The warmer weather, combined with 2.2 percent customer growth, resulted in
an 8.9 percent increase in total retail kilowatt-hour sales of electricity in
the third quarter compared to the same period last year. Residential sales,
which are the most weather sensitive, were up 13.3 percent. Commercial sales
were up 11.4 percent and industrial sales rose 1.0 percent.
SCE&G also reported earnings of $1.68 per share for the nine months ended
September 30, 2002 compared to $1.67 per share for the corresponding period in
2001.
SCE&G's earnings per share (both the quarter and nine month periods)
represent the portion of SCANA Corporation's earnings per share attributable to
SCE&G, and are based on SCANA Corporation's 104.7 million common shares
outstanding at September 30, 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
South Carolina Electric & Gas Company
(Registrant)
October 28, 2002 By: s/James E. Swan, IV
James E. Swan, IV
Controller