This article was originally published by the Greenville News on May 27, 2018. A recent economic analysis released by Palmetto Promise Institute revealed that future utility bills from Santee Cooper – South Carolina’s state-owned utility – must increase anywhere from $166.99 to upwards of $751.03 a year per residential customer for the next 38 years. This
This article was originally published by The Post and Courier on May 21, 2018. The acquisition-hungry utility giant NextEra Energy, which has been eyeing Santee Cooper for months, says it’s still “on the hunt” for a power company after buying one in Florida. NextEra said Monday that it has agreed to purchase Gulf Power, an electric company on
This article was originally published by The State on May 8, 2018. At first glance, Santee Cooper customers seem to be getting a better deal than SCANA customers. However, unlike state-owned Santee Cooper, SCANA has shareholders who can absorb some of the losses from the failed nuclear construction project; Santee Cooper has only debt-holders and customers.
This article was written by Cindi Scoppe and originally published by The State on April 17, 2018. Depending on who you believe, customers of the state-owned utility could see their rates go up by 7 percent or 14 percent to pay for the abandoned nuclear reactors at the V.C. Summer site near Winnsboro. The Palmetto Promise Institute,
This article was written by Patrick Gleason and originally published by Forbes on April 14, 2018. In a debacle that Governing Magazine refers to as “one of the greatest wastes of money in any state’s history,” South Carolina lawmakers are scrambling to address a situation in which Santee Cooper, an 80 year old state-owned utility, and South
This article was originally published on the Statehouse Report on April 13, 2018. By Lindsay Street, Statehouse correspondent As the state’s annual legislative session enters its final weeks, zero bills tied to the $9 billion debt incurred on the backs of ratepayers for a shuttered nuclear project have been signed into law. But that could
This article was originally published in the WACH Fox 57 on March 21, 2018. The state-owned utility says rates will be going up after the failed nuclear project in South Carolina last year. Media outlets reported that Santee Cooper said Wednesday it expects rates to go up 7 percent because of the decision to abandon
This article was originally published in the Associated Press on March 21, 2018. COLUMBIA, S.C. (AP) — The state-owned utility says rates will be going up after the failed nuclear project in South Carolina last year. Santee Cooper said Wednesday it expects rates to go up 7 percent because of the decision to abandon construction
This article was originally published in the Columbia Business Report on March 21, 2018. An economic analysis by a conservative S.C. think tank suggests that Santee Cooper residential utility bills could increase by anywhere from $167 to $750 annually until the state-owned utility’s V.C. summer-related debt is paid off in 2056. The study, commissioned by the Palmetto Promise Institute, projected
This article was originally published in the Index-Journal on March 21, 2018. It’s been called the largest financial disaster in South Carolina’s history. But just how devastating could things get for Santee Cooper customers if they’re left fully exposed to the utility’s multi-billion debt load borne out of the failed VC Summer nuclear generation project?