FAIR VALUE MEASUREMENTS, INCLUDING DERIVATIVES

6 Months Ended

Jun. 30, 2013

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Disclosures [Text Block]

FAIR VALUE MEASUREMENTS, INCLUDING DERIVATIVES

The Company values available for sale securities using quoted prices from a national stock exchange, such as the NASDAQ, where the securities are actively traded.  For commodity derivative and energy management assets and liabilities, the Company uses unadjusted NYMEX prices to determine fair value, and considers such measures of fair value to be Level 1 for exchange traded instruments and Level 2 for over-the-counter instruments.  The Company’s interest rate swap agreements are valued using discounted cash flow models with independently sourced market data.  Fair value measurements, and the level within the fair value hierarchyin which the measurements fall, were as follows:

		Fair Value Measurements Using
		Quoted Prices in
		Active Markets for		Significant Other
		Identical Assets		Observable Inputs
Millions of dollars		(Level 1)		(Level 2)
As of June 30, 2013
Assets -	Available for sale securities	$	9	—
	Interest rate contracts	—		$	106
	Commodity contracts	1		—
	Energy management contracts	—		10
Liabilities -	Interest rate contracts	—		27
	Commodity contracts	—		4
	Energy management contracts	—		13
As of December 31, 2012
Assets -	Available for sale securities	$	6	—
	Interest rate contracts	—		$	73
	Commodity contracts	1		1
	Energy management contracts	—		13
Liabilities -	Interest rate contracts	—		106
	Commodity contracts	—		4
	Energy management contracts	1		15

There were no fair value measurements based on significant unobservable inputs (Level 3) for either period presented.  In addition, there were no transfers of fair value amounts into or out of Levels 1, 2 or 3 during the periods presented.

Financial instruments for which the carrying amount may not equal estimated fair value at June 30, 2013 and December 31, 2012 were as follows:

	June 30, 2013				December 31, 2012
Millions of dollars	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Long-term debt	$	5,454.6	$	5,961.3	$	5,121.0	$	6,115.0

Fair values of long-term debt instruments are based on net present value calculations using independently sourced market data that incorporate a developed discount rate using similarly rated long-term debt, along with benchmark interest rates.  As such, the aggregate fair values presented above are considered to be Level 2. Early settlement of long-term debt may not be possible or may not be considered prudent.

Carrying values of short-term borrowings approximate fair value, and are based on quoted prices from dealers in the commercial paper market. The resulting fair value is considered to be Level 2.

SCEG

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value Disclosures [Text Block]

FAIR VALUE MEASUREMENTS, INCLUDING DERIVATIVES

Consolidated SCE&G’s interest rate swap agreements are valued using discounted cash flow models with independently sourced data.  Fair value measurements based on significant other observable inputs (level 2) were as follows: 

		Fair Value Measurements Using Significant
		Other Observable Inputs (Level 2)
Millions of dollars		June 30, 2013		December 31, 2012
Assets -	Interest rate contracts	$	106	$	73
Liabilities -	Interest rate contracts	5		75

There were no fair value measurements based on quoted prices in active markets for identical assets (Level 1) or significant unobservable inputs (Level 3) for either period presented.  In addition, there were no transfers of fair value amounts into or out of Levels 1, 2 or 3 during the periods presented.

Financial instruments for which the carrying amount may not equal estimated fair value at June 30, 2013 and December 31, 2012 were as follows:

	June 30, 2013				December 31, 2012
Millions of dollars	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Long-term debt	$	4,058.5	$	4,447.4	$	3,722.0	$	4,543.1

Fair values of long-term debt instruments are based on net present value calculations using independently sourced market data that incorporate a developed discount rate using similarly rated long-term debt, along with benchmark interest rates.  As such, the aggregate fair values presented above are considered to be Level 2.  Early settlement of long-term debt may not be possible or may not be considered prudent.

Carrying values of short-term borrowings approximate fair value, and are based on quoted prices from dealers in the commercial paper market. The resulting fair value is considered to be Level 2.