SCE&G and state-owned Santee Cooper spent $9 BILLION on the now-abandoned V.C. Summer boondoggle. State lawmakers must act quickly, or customers—and perhaps even taxpayers—will be left paying off this massive debt. All for electricity they’ll never see.
South Carolina has received several credible offers from reputable utility providers to buy Santee Cooper outright. All of them would take on the company’s debt, without passing it onto customers in the form of higher rates. Still, some lawmakers are dragging their feet, hoping that new management will somehow solve Santee Cooper’s problems.