EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2012

Pension and Other Postretirement Benefit Plans

Pension and Other Postretirement Benefits Disclosure [Text Block]

EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans

The Company sponsors a noncontributory defined benefit pension plan covering substantially all regular, full-time employees. The Company’s policy has been to fund the plan as permitted by applicable federal income tax regulations, as determined by an independent actuary.

The Company’s pension plan provides benefits under a cash balance formula for employees hired before January 1, 2000 who elected that option and for all employees hired on or after January 1, 2000. Under the cash balance formula, benefits accumulate as a result of compensation credits and interest credits. Employees hired before January 1, 2000 who elected to remain under the final average pay formula earn benefits based on years of credited service and the employee’s average annual base earnings received during the last three years of employment.

In addition to pension benefits, the Company provides certain unfunded postretirement health care and life insurance benefits to certain active and retired employees. Retirees share in a portion of their medical care cost. The Company provides life insurance benefits to retirees at no charge. The costs of postretirement benefits other than pensions are accrued during the years the employees render the services necessary to be eligible for these benefits.

Changes in Benefit Obligations

The measurement date used to determine pension and other postretirement benefit obligations is December 31. Data related to the changes in the projected benefit obligation for pension benefits and the accumulated benefit obligation for other postretirement benefits are presented below.

	Pension Benefits						Other Postretirement Benefits
Millions of dollars	2012			2011			2012			2011
Benefit obligation, January 1	$	830.1		$	811.8		$	226.1		$	213.5
Service cost	19.6			18.3			4.8			4.3
Interest cost	43.0			43.5			11.9			12.2
Plan participants’ contributions	—			—			2.9			3.2
Actuarial loss	96.5			0.4			33.4			7.2
Benefits paid	(57.6		)	(43.9		)	(13.8		)	(14.3		)
Benefit obligation, December 31	$	931.6		$	830.1		$	265.3		$	226.1

The accumulated benefit obligation for pension benefits was $874.6 million at the end of 2012 and $784.9 million at the end of 2011. The accumulated pension benefit obligation differs from the projected pension benefit obligation above in that it reflects no assumptions about future compensation levels.

Significant assumptions used to determine the above benefit obligations are as follows:

	Pension Benefits				Other Postretirement Benefits
	2012		2011		2012		2011
Annual discount rate used to determine benefit obligation	4.10	%	5.25	%	4.19	%	5.35	%
Assumed annual rate of future salary increases for projected benefit obligation	3.75	%	4.00	%	3.75	%	4.00	%

A 7.8% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2012. The rate was assumed to decrease gradually to 5.0% for 2020 and to remain at that level thereafter.

A one percent increase in the assumed health care cost trend rate would increase the postretirement benefit obligation at December 31, 2012 and 2011 by $1.7 million. A one percent decrease in the assumed health care cost trend rate would decrease the postretirement benefit obligation at December 31, 2012 and 2011 by $1.5 million.

Funded Status

Millions of Dollars	Pension Benefits						Other Postretirement Benefits
December 31,	2012			2011			2012			2011
Fair value of plan assets	$	799.1		$	755.0		—			—
Benefit obligation	931.6			830.1			$	265.3		$	226.1
Funded status	$	(132.5	)	$	(75.1	)	$	(265.3	)	$	(226.1	)

Amounts recognized on the consolidated balance sheets consist of:

Millions of Dollars	Pension Benefits						Other Postretirement Benefits
December 31,	2012			2011			2012			2011
Current liability	—			—			$	(11.0	)	$	(10.5	)
Noncurrent liability	$	(132.5	)	$	(75.1	)	(254.3		)	(215.6		)

Amounts recognized in accumulated other comprehensive loss (a component of common equity) as of December 31, 2012 and 2011 were as follows:

Millions of Dollars	Pension Benefits				Other Postretirement Benefits
December 31,	2012		2011		2012		2011
Net actuarial loss	$	10.7	$	9.6	$	3.7	$	1.7
Prior service cost	1.0		1.2		0.1		0.1
Transition obligation	—		—		0.1		0.2
Total	$	11.7	$	10.8	$	3.9	$	2.0

In connection with the joint ownership of Summer Station, as of December 31, 2012 and 2011, the Company recorded within deferred debits $26.8 million and $19.7 million, respectively, attributable to Santee Cooper’s portion of shared pension costs. As of December 31, 2012 and 2011, the Company also recorded within deferred debits $14.7 million and $11.4 million, respectively, from Santee Cooper, representing its portion of the unfunded postretirement benefit obligation.

Changes in Fair Value of Plan Assets

	Pension Benefits
Millions of dollars	2012			2011
Fair value of plan assets, January 1	$	755.0		$	817.2
Actual return on plan assets	101.7			(18.3		)
Benefits paid	(57.6		)	(43.9		)
Fair value of plan assets, December 31	$	799.1		$	755.0

Investment Policies and Strategies

The assets of the pension plan are invested in accordance with the objectives of (1) fully funding the actuarial accrued liability for the pension plan, (2) maximizing return within reasonable and prudent levels of risk in order to minimize contributions, and (3) maintaining sufficient liquidity to meet benefit payment obligations on a timely basis. The pension plan operates with several risk and control procedures, including ongoing reviews of liabilities, investment objectives, levels of diversification, investment managers and performance expectations. The total portfolio is constructed and maintained to provide prudent diversification with regard to the concentration of holdings in individual issues, corporations, or industries.

Transactions involving certain types of investments are prohibited. These include, except where utilized by a hedge fund manager, any form of private equity; commodities or commodity contracts (except for unleveraged stock or bond index futures and currency futures and options); ownership of real estate in any form other than publicly traded securities; short sales, warrants or margin transactions, or any leveraged investments; and natural resource properties. Investments made for the purpose of engaging in speculative trading are also prohibited.

The Company’s pension plan asset allocation at December 31, 2012 and 2011 and the target allocation for 2013 are as follows: 

	Percentage of Plan Assets
	Target Allocation		At December 31,
Asset Category	2013		2012		2011
Equity Securities	65	%	66	%	65	%
Debt Securities	35	%	34	%	35	%

For 2013, the expected long-term rate of return on assets will be 8.00%. In developing the expected long-term rate of return assumptions, management evaluates the pension plan’s historical cumulative actual returns over several periods, considers the expected active returns across various asset classes and assumes an asset allocation of 65% with equity managers and 35% with fixed income managers. Management regularly reviews such allocations and periodically rebalances the portfolio when considered appropriate.

Fair Value Measurements

Assets held by the pension plan are measured at fair value as described below. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. At December 31, 2012 and 2011, fair value measurements, and the level within the fair value hierarchy in which the measurements fall, were as follows:

			Fair Value Measurements at Reporting Date Using
Millions of dollars	Total		Quoted Market Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
December 31, 2012
Common stock	$	319	$	319
Preferred stock	1		1
Mutual funds	246		12		$	234
Short-term investment vehicles	20				20
US Treasury securities	42				42
Corporate debt securities	56				56
Loans secured by mortgages	11				11
Municipals	4				4
Limited partnerships	30		1		29
Multi‑strategy hedge funds	70						$	70
	$	799	$	333	$	396	$	70

December 31, 2011
Common stock	$	324	$	324
Preferred stock	1		1
Mutual funds	183		20		$	163
Short-term investment vehicles	23				23
US Treasury securities	32				32
Corporate debt securities	51				51
Loans secured by mortgages	12				12
Municipals	4				4
Common collective trusts	37				37
Limited partnerships	23				23
Multi‑strategy hedge funds	65						$	65
	$	755	$	345	$	345	$	65

There were no transfers of fair value amounts into or out of Level 1, 2 or 3 during 2012 or 2011.

The pension plan values common stock and certain mutual funds, where applicable, using unadjusted quoted prices from a national stock exchange, such as NYSE and NASDAQ, where the securities are actively traded. Other mutual funds, common collective trusts and limited partnerships are valued using the observable prices of the underlying fund assets based on trade data for identical or similar securities or from a national stock exchange for similar assets or broker quotes. Short-term investment vehicles are funds that invest in short-term fixed income instruments and are valued using observable prices of the underlying fund assets based on trade data for identical or similar securities. Government agency securities are valued using quoted market prices or based on models using observable inputs from market sources such as external prices or spreads or benchmarked thereto. Corporate debt securities and municipals are valued based on recently executed transactions, using quoted market prices, or based on models using observable inputs from market sources such as external prices or spreads or benchmarked thereto. Loans secured by mortgages are valued using observable prices based on trade data for identical or comparable instruments. Hedge funds represent investments in a hedge fund of funds partnership that invests directly in multiple hedge fund strategies that are not traded on exchanges and do not trade on a daily basis. The fair value of this multi-strategy hedge fund is estimated based on the net asset value of the underlying hedge fund strategies using consistent valuation guidelines that account for variations that may impact their fair value. The estimated fair value is the price at which redemptions and subscriptions occur.

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Millions of dollars	2012		2011
Beginning Balance	$	65	$	45
Unrealized gains (losses) included in changes in net assets	5		(1		)
Purchases, issuances, and settlements	—		21
Ending Balance	$	70	$	65

Expected Cash Flows

The total benefits expected to be paid from the pension plan or from the Company’s assets for the other postretirement benefits plan, respectively, are as follows:

Expected Benefit Payments

Millions of dollars	Pension Benefits		Other Postretirement Benefits *
2013	$	63.1	$	11.2
2014	61.0		12.1
2015	62.5		12.9
2016	64.0		13.6
2017	67.2		14.3
2018-2022	338.8		80.2

*      Net of participant contributions

Pension Plan Contributions

The pension trust is adequately funded under current regulations. No contributions have been required since 1997, and the Company does not anticipate making contributions to the pension plan until after 2014.

Net Periodic Benefit Cost

The Company records net periodic benefit cost utilizing beginning of the year assumptions. Disclosures required for these plans are set forth in the following tables.

Components of Net Periodic Benefit Cost

	Pension Benefits									Other Postretirement Benefits
Millions of dollars	2012			2011			2010			2012		2011		2010
Service cost	$	19.6		$	18.3		$	17.9		$	4.8	$	4.3	$	4.2
Interest cost	43.0			43.5			44.0			11.9		12.2		11.9
Expected return on assets	(59.5		)	(63.7		)	(61.4		)	n/a		n/a		n/a
Prior service cost amortization	7.0			7.0			7.0			0.9		1.0		1.0
Amortization of actuarial losses	18.4			12.2			16.0			1.4		0.4		—
Transition obligation amortization	—			—			—			0.7		0.7		0.7
Net periodic benefit cost	$	28.5		$	17.3		$	23.5		$	19.7	$	18.6	$	17.8

Prior to July 15, 2010, the SCPSC allowed SCE&G to defer as a regulatory asset the amount of pension cost exceeding amounts included in rates for its retail electric and gas distribution regulated operations. In connection with the SCPSC's July 2010 electric rate order and November 2010 natural gas RSA order, SCE&G began deferring, as a regulatory asset, all pension cost related to retail electric and gas operations that otherwise would have been charged to expense. Effective in January 2013, in connection with the December 2012 rate order, SCE&G will amortize previously deferred pension costs related to retail electric operations totaling approximately $63 million over approximately 30 years (see Note 2) and will recover current pension costs related to retail electric operations through a rate rider that is adjusted annually.

Other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:

	Pension Benefits									Other Postretirement Benefits
Millions of dollars	2012			2011			2010			2012			2011			2010
Current year actuarial (gain) loss	$	1.7		$	2.9		$	(26.4	)	$	2.0		$	0.4		$	(0.1	)
Amortization of actuarial losses	(0.6		)	(0.4		)	(2.0		)	—			—			—
Amortization of prior service cost	(0.2		)	(0.2		)	(0.1		)	—			(0.1		)	—
Prior service cost OCI adjustment	—			—			0.8			—			—			—
Amortization of transition obligation	—			—			—			(0.1		)	(0.1		)	(0.1		)
Total recognized in other comprehensive income	$	0.9		$	2.3		$	(27.7	)	$	1.9		$	0.2		$	(0.2	)

Significant Assumptions Used in Determining Net Periodic Benefit Cost

	Pension Benefits						Other Postretirement Benefits
	2012		2011		2010		2012		2011		2010
Discount rate	5.25	%	5.56	%	5.75	%	5.35	%	5.72	%	5.90	%
Expected return on plan assets	8.25	%	8.25	%	8.50	%	n/a		n/a		n/a
Rate of compensation increase	4.00	%	4.00	%	4.00	%	4.00	%	4.00	%	4.00	%
Health care cost trend rate	n/a		n/a		n/a		8.20	%	8.00	%	8.50	%
Ultimate health care cost trend rate	n/a		n/a		n/a		5.00	%	5.00	%	5.00	%
Year achieved	n/a		n/a		n/a		2020		2017		2017

The estimated amounts to be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013 are as follows:

Millions of Dollars	Pension Benefits		Other Postretirement Benefits
Actuarial loss	$	0.6	$	0.2
Prior service cost	0.2		—
Total	$	0.8	$	0.2

Other postretirement benefit costs are subject to annual per capita limits pursuant to the plan's design. As a result, the effect of a one-percent increase or decrease in the assumed health care cost trend rate on total service and interest cost is not significant.

Stock Purchase Savings Plan

The Company also sponsors a defined contribution plan in which eligible employees may participate. Eligible employees may defer up to 25% of eligible earnings subject to certain limits and may diversify their investments. Employee deferrals are fully vested and nonforfeitable at all times. The Company provides 100% matching contributions up to 6% of an employee’s eligible earnings. Total matching contributions made to the plan for 2012, 2011 and 2010 were $22.3 million,$21.8 million and $20.8 million, respectively, and were made in the form of SCANA common stock.

SCE&G

Pension and Other Postretirement Benefit Plans

Pension and Other Postretirement Benefits Disclosure [Text Block]

EMPLOYEE BENEFIT PLANS AND EQUITY COMPENSATION PLAN

Pension and Other Postretirement Benefit Plans

SCE&G participates in SCANA’s noncontributory defined benefit pension plan, which covers substantially all regular, full-time employees. SCANA’s policy has been to fund the plan as permitted by applicable federal income tax regulations, as determined by an independent actuary.

SCANA’s pension plan provides benefits under a cash balance formula for employees hired before January 1, 2000 who elected that option and for all employees hired on or after January 1, 2000. Under the cash balance formula, benefits accumulate as a result of compensation credits and interest credits.  Employees hired before January 1, 2000 who elected to remain under the final average pay formula earn benefits based on years of credited service and the employee’s average annual base earnings received during the last three years of employment.

In addition to pension benefits, SCE&G participates in SCANA’s unfunded postretirement health care and life insurance programs which provide benefits to certain active and retired employees. Retirees share in a portion of their medical care cost. SCANA provides life insurance benefits to retirees at no charge. The costs of postretirement benefits other than pensions are accrued during the years the employees render the services necessary to be eligible for these benefits.

The same benefit formula applies to all SCANA subsidiaries participating in the parent sponsored plans and, with regard to the pension plan, there are no legally separate asset pools. The postretirement benefit plans are accounted for as multiple employer plans. The information presented below reflects Consolidated SCE&G's portion of the obligations, assets, funded status, net periodic benefit costs, and other information reported for the parent sponsored plans as a whole. The tabular data presented reflects the use of various cost assignment methodologies and participation assumptions.

Changes in Benefit Obligations

The measurement date used to determine pension and other postretirement benefit obligations is December 31. Data related to the changes in the projected benefit obligation for pension benefits and the accumulated benefit obligation for other postretirement benefits are presented below.

	Pension Benefits						Other Postretirement Benefits
Millions of dollars	2012			2011			2012			2011
Benefit obligation, January 1	$	705.0		$	687.8		$	178.4		$	171.5
Service cost	15.7			14.7			3.7			3.4
Interest cost	36.4			37.0			9.4			9.6
Plan participants’ contributions	—			—			2.3			2.5
Actuarial loss	80.3			2.6			26.2			5.6
Benefits paid	(49.0		)	(37.1		)	(10.8		)	(11.2		)
Amounts funded to parent	—			—			(3.2		)	(3.0		)
Benefit obligation, December 31	$	788.4		$	705.0		$	206.0		$	178.4

The accumulated benefit obligation for pension benefits was $740.2 million at the end of 2012 and $666.7 million at the end of 2011. The accumulated pension benefit obligation differs from the projected pension benefit obligation above in that it reflects no assumptions about future compensation levels.

Significant assumptions used to determine the above benefit obligations are as follows: 

	Pension Benefits				Other Postretirement Benefits
	2012		2011		2012		2011
Annual discount rate used to determine benefit obligation	4.10	%	5.25	%	4.19	%	5.35	%
Assumed annual rate of future salary increases for projected benefit obligation	3.75	%	4.00	%	3.75	%	4.00	%

A 7.8% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2012. The rate was assumed to decrease gradually to 5.0% for 2020 and to remain at that level thereafter.

A one percent increase in the assumed health care cost trend rate would increase the postretirement benefit obligation at December 31, 2012 by $1.3 million and at December 31, 2011 by $1.4 million. A one percent decrease in the assumed health care cost trend rate would decrease the postretirement benefit obligation at December 31, 2012 and 2011 by $1.2 million.

Funded Status

Millions of Dollars	Pension Benefits						Other Postretirement Benefits
December 31,	2012			2011			2012			2011
Fair value of plan assets	$	732.0		$	695.3		—			—
Benefit obligation	788.4			705.0			$	206.0		$	178.4
Funded status	$	(56.4	)	$	(9.7	)	$	(206.0	)	$	(178.4	)

Amounts recognized on the consolidated balance sheets consist of:

Millions of Dollars	Pension Benefits					Other Postretirement Benefits
December 31,	2012			2011		2012			2011
Current liability	—			—		$	(8.5	)	$	(8.3	)
Noncurrent liability	$	(56.4	)	(9.7	)	(197.5		)	(170.1		)

Amounts recognized in accumulated other comprehensive loss (a component of common equity) as of December 31, 2012 and 2011 were as follows:

Millions of Dollars	Pension Benefits				Other Postretirement Benefits
December 31,	2012		2011		2012		2011
Net actuarial loss	$	2.7	$	2.4	$	1.1	$	0.4
Prior service cost	0.2		0.3		—		0.1
Total	$	2.9	$	2.7	$	1.1	$	0.5

In connection with the joint ownership of Summer Station, as of December 31, 2012 and 2011, SCE&G recorded within deferred debits $26.8 million and $19.7 million, respectively, attributable to Santee Cooper’s portion of shared pension costs. As of December 31, 2012 and 2011, SCE&G also recorded within deferred debits $14.7 million and $11.4 million, respectively, from Santee Cooper, representing its portion of the unfunded postretirement benefit obligation.

Changes in Fair Value of Plan Assets

	Pension Benefits
Millions of dollars	2012			2011
Fair value of plan assets, January 1	$	695.3		$	745.2
Actual return on plan assets	85.7			(12.8		)
Benefits paid	(49.0		)	(37.1		)
Fair value of plan assets, December 31	$	732.0		$	695.3

Investment Policies and Strategies

The assets of the pension plan are invested in accordance with the objectives of (1) fully funding the actuarial accrued liability for the pension plan, (2) maximizing return within reasonable and prudent levels of risk in order to minimize contributions, and (3) maintaining sufficient liquidity to meet benefit payment obligations on a timely basis. The pension plan operates with several risk and control procedures, including ongoing reviews of liabilities, investment objectives, levels of diversification, investment managers and performance expectations. The total portfolio is constructed and maintained to provide prudent diversification with regard to the concentration of holdings in individual issues, corporations, or industries.

Transactions involving certain types of investments are prohibited. These include, except where utilized by a hedge fund manager, any form of private equity; commodities or commodity contracts (except for unleveraged stock or bond index futures and currency futures and options); ownership of real estate in any form other than publicly traded securities; short sales, warrants or margin transactions, or any leveraged investments; and natural resource properties. Investments made for the purpose of engaging in speculative trading are also prohibited.

The pension plan asset allocation at December 31, 2012 and 2011 and the target allocation for 2013 are as follows:

	Percentage of Plan Assets
	Target Allocation		At December 31,
Asset Category	2013		2012		2011
Equity Securities	65	%	66	%	65	%
Debt Securities	35	%	34	%	35	%

For 2013, the expected long-term rate of return on assets will be 8.00%.  In developing the expected long-term rate of return assumptions, management evaluates the pension plan’s historical cumulative actual returns over several periods, considers the expected active returns across various asset classes and assumes an asset allocation of 65% with equity managers and 35% with fixed income managers. Management regularly reviews such allocations and periodically rebalances the portfolio when considered appropriate.

Fair Value Measurements

Assets held by the pension plan are measured at fair value as described below. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. At December 31, 2012 and 2011, fair value measurements, and the level within the fair value hierarchy in which the measurements fall, were as follows:

			Fair Value Measurements at Reporting Date Using
Millions of dollars	Total		Quoted Market Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
December 31, 2012
Common stock	$	292	$	292
Preferred stock	1		1
Mutual funds	226		12		$	214
Short-term investment vehicles	18				18
Government agency securities	38				38
Corporate debt securities	52				52
Loans secured by mortgages	10				10
Municipals	4				4
Limited partnerships	27		1		26
Multi-strategy hedge funds	64						$	64
	$	732	$	306	$	362	$	64

December 31, 2011
Common stock	$	298	$	298
Preferred stock	1		1
Mutual funds	169		19		$	150
Short-term investment vehicles	21				21
Government agency securities	29				29
Corporate debt securities	47				47
Loans secured by mortgages	11				11
Municipals	4				4
Common collective trusts	34				34
Limited partnerships	21				21
Multi-strategy hedge funds	60						$	60
	$	695	$	318	$	317	$	60

There were no transfers of fair value amounts into or out of Levels 1, 2 or 3 during 2012 or 2011.

The pension plan values common stock and certain mutual funds, where applicable, using unadjusted quoted prices from a national stock exchange, such as NYSE and NASDAQ, where the securities are actively traded. Other mutual funds, common collective trusts and limited partnerships are valued using the observable prices of the underlying fund assets based on trade data for identical or similar securities or from a national stock exchange for similar assets or broker quotes. Short-term investment vehicles are funds that invest in short-term fixed income instruments and are valued using observable prices of the underlying fund assets based on trade data for identical or similar securities. Government agency securities are valued using quoted market prices or based on models using observable inputs from market sources such as external prices or spreads or benchmarked thereto. Corporate debt securities and municipals are valued based on recently executed transactions, using quoted market prices, or based on models using observable inputs from market sources such as external prices or spreads or benchmarked thereto. Loans secured by mortgages are valued using observable prices based on trade data for identical or comparable instruments. Hedge funds represent investments in a hedge fund of funds partnership that invests directly in multiple hedge fund strategies that are not traded on exchanges and do not trade on a daily basis. The fair value of this multi-strategy hedge fund is estimated based on the net asset value of the underlying hedge fund strategies using consistent valuation guidelines that account for variations that may impact their fair value. The estimated fair value is the price at which redemptions and subscriptions occur.

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Millions of dollars	2012		2011
Beginning Balance	$	60	$	41
Unrealized gains (losses) included in changes in net assets	4		(1		)
Purchases, issuances, and settlements	—		20
Transfers in or out of Level 3	—		—
Ending Balance	$	64	$	60

Expected Cash Flows

The total benefits expected to be paid from the pension plan or from SCE&G’s assets for the other postretirement benefits plan, respectively, are as follows:

Expected Benefit Payments

Millions of dollars	Pension Benefits		Other Postretirement Benefits *
2013	$	63.1	$	8.8
2014	61.0		9.5
2015	62.5		10.2
2016	64.0		10.7
2017	67.2		11.2
2018 - 2022	338.8		63.0

*Net of participant contributions

Pension Plan Contributions

The pension trust is adequately funded under current regulations. No contributions have been required since 1997, and SCE&G does not anticipate making contributions to the pension plan until after 2014.

Net Periodic Benefit Cost

SCE&G records net periodic benefit cost utilizing beginning of the year assumptions. Disclosures required for these plans are set forth in the following tables.

Components of Net Periodic Benefit Cost

	Pension Benefits									Other Postretirement Benefits
Millions of dollars	2012			2011			2010			2012		2011			2010
Service cost	$	15.7		$	14.7		$	14.0		$	3.7	$	3.4		$	3.2
Interest cost	36.4			37.0			41.2			9.4		9.6			9.3
Expected return on assets	(50.4		)	(54.2		)	(58.0		)	n/a		n/a			n/a
Prior service cost amortization	6.0			6.0			6.6			0.7		0.8			0.8
Amortization of actuarial losses	15.6			10.4			15.1			1.1		0.3			—
Transition obligation amortization	—			—			—			—		(0.1		)	(0.1		)
Net periodic benefit cost	$	23.3		$	13.9		$	18.9		$	14.9	$	14.0		$	13.2

Prior to July 15, 2010, the SCPSC allowed SCE&G to defer as a regulatory asset the amount of pension cost exceeding amounts included in rates for its retail electric and gas distribution regulated operations. In connection with the SCPSC's July 2010 electric rate order and November 2010 natural gas RSA order, SCE&G began deferring, as a regulatory asset, all pension costs related to retail electric and gas operations that otherwise would have been charged to expense. Effective in January 2013, in connection with the December 2012 rate order, SCE&G will amortize previously deferred pension cost related to retail electric operations totaling approximately $63 million over approximately 30 years (see Note 2) and will recover current pension costs related to retail electric operations through a rate rider that is adjusted annually.

 Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) were as follows:

	Pension Benefits										Other Postretirement Benefits
Millions of dollars	2012			2011				2010			2012			2011			2010
Current year actuarial (gain) loss	$	0.4		$	0.7			$	(28.9	)	$	0.7		$	0.1	—	$	—
Amortization of actuarial losses	(0.1		)	(0.1		)		(1.8		)	—			—		—	—
Amortization of prior service cost	(0.1		)	(0.1		)	—	—			(0.1		)	—		—	—
Prior service cost OCI adjustment	—			—			400,000	0.4			—			—		—	—
Amortization of transition obligation	—			—			—	—			—			—			(0.1		)
Total recognized in other comprehensive income (loss)	$	0.2		$	0.5		400,000	$	(30.3	)	$	0.6		$	0.1		$	(0.1	)

Significant Assumptions Used in Determining Net Periodic Benefit Cost

	Pension Benefits						Other Postretirement Benefits
	2012		2011		2010		2012		2011		2010
Discount rate	5.25	%	5.56	%	5.75	%	5.35	%	5.72	%	5.90	%
Expected return on plan assets	8.25	%	8.25	%	8.50	%	n/a		n/a		n/a
Rate of compensation increase	4.00	%	4.00	%	4.00	%	4.00	%	4.00	%	4.00	%
Health care cost trend rate	n/a		n/a		n/a		8.20	%	8.00	%	8.50	%
Ultimate health care cost trend rate	n/a		n/a		n/a		5.00	%	5.00	%	5.00	%
Year achieved	n/a		n/a		n/a		2020		2017		2017

The actuarial loss to be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2013 is $0.2 million. 

Other postretirement benefit costs are subject to annual per capita limits pursuant to the plan's design. As a result, the effect of a one-percent increase or decrease in the assumed health care cost trend rate on total service and interest cost is not significant.

Stock Purchase Savings Plan

SCE&G participates in a SCANA-sponsored defined contribution plan in which eligible employees may participate. Eligible employees may defer up to 25% of eligible earnings subject to certain limits and may diversify their investments. Employee deferrals are fully vested and nonforfeitable at all times. SCE&G provides 100% matching contributions up to 6% of an employee’s eligible earnings. Total matching contributions made to the plan for 2012, 2011 and 2010 were $17.7 million, $17.3 million and $16.6 million, respectively, and were made in the form of SCANA common stock.