Chronicle readers will not be surprised that Public Service Commissioners worry about their loss of the public’s trust.

They should be.

They approved 9 rate increases of $2 billion for SC Electric & Gas to misspend on a mismanaged and now abandoned nuclear reactor project.

They aren’t the only ones who should be concerned. State lawmakers who passed the law that let SCE&G pick 727,000 ratepayers’ pockets should be worried, too, about re-election.

We understand how it happened. In the good ol’ boy politics that passes for thoughtful legislation at the statehouse, their friends at SCE&G snookered them into passing the Base Load Review Act.

They trusted SCE&G executives to know what they were doing and not mislead them.

Little did they suspect this law would backfire on them.

But the commissioners look the worse in this. A new ruling favors SCE&G’s new owners, Dominion Energy and will cost ratepayers $31.7 million.

Due to their action, ratepayers will receive $67 million in lower rates from the federal tax cuts which began last year. But had the PSC followed the Office of Regulatory Staff proposal, 727,000 ratepayers would have received $98.7 million.

That’s $31.7 million more than the PSC ruled Dominion must pay based on the company’s reported cost of services.

This means 727,000 ratepayers will pay about $700 million for the abandoned nuclear plant, said SC Small Business Chamber CEO Frank Knapp, Jr.

Dominion insisted on only a 15% rate cut and $2.3 billion of nuclear construction costs to be paid by the ratepayers.

ORS Executive Director Nanette Edwards told the Chronicle her office had recommended the PSC order Dominion to pay $98.7 based on 2011 cost of services. That was the last rate change before the 9 nuclear rate hikes were approved.

We wonder when our lawmakers and regulators will wake up to what fat cat utility executives are doing to the public.

- Jerry Bellune

When will lawmakers and regulators wake up to what utilities are doing to us.