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: December 15, 1998 SCANA Corporation (Exact name of registrant as specified in its charter) South Carolina 1-8809 57-0784499 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 1426 Main Street, Columbia, South Carolina 29201 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (803) 217-9000 (Former name or former address, if changed since last report.) 1 PAGE 2 SCANA Corporation Item 5. Other Events. On December 11, 1998, The Public Service Commission of South Carolina (Commission) issued an Order requiring South Carolina Electric & Gas Company (SCE&G), the principal subsidiary of SCANA Corporation, to reduce retail electric rates on a prospective basis. The Commission acted in response to SCE&G reporting that it earned a 13.04 percent return on common equity for its retail electric operations for the twelve months ended September 30, 1998. This return on common equity exceeded SCE&G's authorized return on common equity of 12 percent by 1.04 percent, or $22.7 million, primarily as a result of record-breaking heat experienced during the summer. The Order requires prospective rate reductions on a per kilowatt-hour basis, based on actual retail sales for the 12 months ended September 30, 1998. This action reduces the reported return on common equity for the 12 months ended September 30, 1998 to the Commission-authorized level. The Order requires the rate reductions to be placed into effect with the first billing cycle of January 1999. The Order also requires the Commission Staff to review SCE&G's earnings for the twelve month period ended September 30, 1998 and report any other potential ratepayer savings to the Commission within 30 days of the date of the Order. SCE&G has not yet filed a response. 2 PAGE 3 SCANA Corporation 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 thereunto duly authorized. SCANA Corporation (Registrant) December 15, 1998 By: s/M. R. Cannon M. R. Cannon Treasurer 3 PAGE 1 SCANA CORPORATION EXHIBIT INDEX Sequentially Numbered Number Pages 1. Underwriting Agreement Not Applicable 2. Plan of Acquisition, Reorganization, Arrangement, Liquidation or Succession Not Applicable 4. Instruments Defining the Rights of Security Holders, Including Indentures Not Applicable 16. Letter Re Change in Certifying Accountant Not Applicable 17. Letter Re Director Resignation Not Applicable 20. Other Documents or Statements to Security Holders Not Applicable 23. Consents of Experts and Counsel Not Applicable 24. Power of Attorney Not Applicable 27. Financial Data Schedule Not Applicable 99. Additional Exhibits Not Applicable 4