Protect Consumers – Sign the Petition to Sell Santee Cooper:
“Consumers should not have to pay higher electricity prices to bail-out Santee Cooper from its massive debt from the V.C. Summer nuclear project. The South Carolina state legislature should vote to sell state-owned Santee Cooper to a company who will pay the debt, and protect consumers.”
ECC will collect signatures and deliver to the South Carolina legislature.
Background: Selling Santee Cooper Protects Consumers
Santee Cooper is more than $7 billion in debt, partly from the failed V.C. Summer nuclear plant, which was never completed and produces nothing.
The only way Santee Cooper can pay off its debt is to raise rates on customers and co-ops.
That means consumers will be stuck paying for a hole in the ground – paying higher rates and getting nothing in return.
A sale of Santee Cooper to an investor owned utility would eliminate the debt. The buyer would pay off the debt as a condition of the sale.
The South Carolina government owns Santee Cooper. The government should not be in the utility business and Santee Cooper’s massive debt is a good example why.
Other proposals – to let the government continue to own a “reformed” Santee Cooper, or outsourcing its management – will not protect consumers from having to pay the debt.
Take action and sign the petition to Sell Santee Cooper!