Benefits outweigh risks in selling Santee Cooper

Blog · March 13, 2020

On July 31, 2017, Santee Cooper and SCE&G announced that they were abandoning work on the expansion of the V.C. Nuclear Station in Fairfield County. Shortly thereafter, Palmetto Promise went to work digging into the financial and policy implications of that decision for taxpayers and ratepayers. PPI has stayed true to our research mission, providing an

California Lawmakers Propose Government Takeover Of Private Utility, While South Carolina Officials Look To Sell A Palmetto State-Owned Power Co.

News · February 27, 2020

Palmetto Promise’s Oran Smith and board chair Phil Hughes are quoted in this Forbes pieces comparing California and South Carolina’s approach to their utilities. To learn more about the research referenced in this article, click here.  By Patrick Gleason, Forbes Contributor  California lawmakers and state officials recently went through a very high profile failure in

Palmetto Promise Institute Responds to DOA Santee Cooper report

February 11, 2020

Columbia, SC. (Feb. 11, 2020) – Palmetto Promise Institute (PPI), the most prolific publisher of independent analysis of state-owned utility Santee Cooper, issued the following statement in response to the report released this morning by the state Department of Administration (DOA): “The facts of the DOA report are clearly in line with what our two

Legislators to decide Santee Cooper’s fate amid legal setbacks

Blog · February 5, 2020

On Thursday, The Post & Courier reported that Justice Jean Toal denied Santee Cooper’s request to stop the case against them from remaining a class-action lawsuit. This was a severe blow to Santee Cooper’s court fight over whether or not their customers should shoulder the burden of billions in debt from their failed nuclear project.

Potential last-ditch efforts by Santee Cooper ahead of report release

Blog · February 4, 2020

Before the bell rang on the 2019 legislative session, lawmakers passed a bill that set the stage for a potential sale of Santee Cooper in 2020. The bill stipulated that the Department of Administration would receive proposals to (1) sell the state-owned utility, (2) management offers, and (3) a proposal from Santee Cooper to reform themselves.

Tale of the Century

Blog · September 20, 2019

The manufacturing process for Century Aluminum is extremely electricity dependent, requiring at full capacity 400 megawatts of electricity per year. That level of use (400 megawatts would power 80,000 homes) means that electricity is about 40% of the cost of operating the plant, its single highest expense. Unfortunately, high energy costs risk putting it out of business.