Tell Your Legislators – Sell Santee Cooper!

Santee Cooper is $6.7 billion in debt. Customers of Santee Cooper and Co-Ops are on the hook to pay that back. Nearly $4 billion of that debt is from the failed VC Summer nuclear plant. Add to that – paying interest on that debt – piling up, 24/7. Meanwhile Santee Cooper Mark Bonsall has told the legislature it can pay off the debt – by 2055. Keeping Santee Cooper a state-owned utility means leaving the debt for our grandchildren to pay.

Santee Cooper can be sold to an investor-owned utility who will pay off the debt as a condition of the sale. The legislature can make that happen now.

Tell legislators you don’t want to pay one more penny for a power plant that doesn’t work! You don’t want to pay to continue a culture of mismanagement!

Santee Cooper’s management has had its chance and it hasn’t worked. Reform is not an option. Reform won’t eliminate the debt. As long as Santee Cooper can raise its own rates without approval of the state Public Service Commission (PSC), nothing will change. Santee Cooper can’t submit to a real review of the PSC without risking its bond rating – causing it to fall deeper in debt.

It’s time to sell this state-owned utility so South Carolina is free from the nuclear debt and can benefit from a utility able to deliver cleaner energy, upgraded infrastructure, and resources for economic development.

Tell your legislators: It’s time to sell Santee Cooper.