FAIR VALUE MEASUREMENTS, INCLUDING DERIVATIVES

12 Months Ended

Dec. 31, 2016

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

Fair Value Disclosures [Text Block]

7.             FAIR VALUE MEASUREMENTS, INCLUDING DERIVATIVES

Available for sale securities are valued 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. Interest rate swap agreements are valued using discounted cash flow models with independently sourced data. Fair value measurements, and the level within the fair value hierarchyin which the measurements fall, were as follows:

	As of December 31, 2016						As of December 31, 2015
	The Company				Consolidated SCE&G		The Company				Consolidated SCE&G
Millions of dollars	Level 1		Level 2		Level 2		Level 1		Level 2		Level 2
Assets:
Available for sale securities	$	14	—		—		$	11	—		—
Held to maturity securities	—		$	7	—		—		—		—
Interest rate contracts	—		71		$	71	—		$	15	$	15
Commodity contracts	8		1		—		1		—		—
Energy management contracts	6		4		—		—		14		—
Liabilities:
Interest rate contracts	—		58		39		—		87		65
Commodity contracts	—		—		—		1		4		—
Energy management contracts	2		10		—		4		12		—

There were no Level 3 fair value measurements for either period presented, and 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 December 31, 2016 and December 31, 2015 were as follows:

	As of December 31, 2016				As of December 31, 2015
Millions of dollars	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
The Company	$	6,489.8	$	7,183.3	$	5,997.6	$	6,445.7
Consolidated SCE&G	5,166.0		5,752.3		4,769.0		5,129.1

 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 their fair values, which are based on quoted prices from dealers in the commercial paper market. These fair values are considered to be Level 2.

SCE&G

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

Fair Value Disclosures [Text Block]

7.             FAIR VALUE MEASUREMENTS, INCLUDING DERIVATIVES

Available for sale securities are valued 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. Interest rate swap agreements are valued using discounted cash flow models with independently sourced data. Fair value measurements, and the level within the fair value hierarchyin which the measurements fall, were as follows:

	As of December 31, 2016						As of December 31, 2015
	The Company				Consolidated SCE&G		The Company				Consolidated SCE&G
Millions of dollars	Level 1		Level 2		Level 2		Level 1		Level 2		Level 2
Assets:
Available for sale securities	$	14	—		—		$	11	—		—
Held to maturity securities	—		$	7	—		—		—		—
Interest rate contracts	—		71		$	71	—		$	15	$	15
Commodity contracts	8		1		—		1		—		—
Energy management contracts	6		4		—		—		14		—
Liabilities:
Interest rate contracts	—		58		39		—		87		65
Commodity contracts	—		—		—		1		4		—
Energy management contracts	2		10		—		4		12		—

There were no Level 3 fair value measurements for either period presented, and 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 December 31, 2016 and December 31, 2015 were as follows:

	As of December 31, 2016				As of December 31, 2015
Millions of dollars	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
The Company	$	6,489.8	$	7,183.3	$	5,997.6	$	6,445.7
Consolidated SCE&G	5,166.0		5,752.3		4,769.0		5,129.1

 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 their fair values, which are based on quoted prices from dealers in the commercial paper market. These fair values are considered to be Level 2.