Posts

The Buck Stops … Somewhere

“The Buck Stops Here,” was a sign on Harry Truman’s desk and spoke volumes about his sense of leadership. Our nation just marked the 75th anniversary of Truman taking the oath of office. Want a decision? Harry made decisions, took action.…

Jacksonville Didn't Sell. Now the Utility is Downgraded. SC, Take Note.

Jacksonville Electric Authority, a city-owned utility, was up for sale, then it wasn’t. And now more news: JEA downgraded because of governance instability, said Bond Buyer magazine. The article cites managerial risk, financial risk, and…

Time to Protect Santee Cooper Customers

Kudos to the Legislature and Governor for setting up a system, managed by the State Department of Administration, to address the ongoing Santee Cooper issues. That was a good step for the accountability that is needed. Time to finish the…

Quick Take – Securitization in Utilities

Securitization of costs or debts. Some utilities and states have it. Let’s describe what securitization is. Most simply: Turning utility costs into bonds. In finance, bonds are a kind of debt already, but not all debt is in the form…
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The JEA List and Future of Power

Are some public power and water utilities starved for cash or challenged by the depth of resources needed for the future? The question is a natural as the list of companies is revealed to possibly purchase JEA, the Jacksonville, Florida,…
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Looming Santee Cooper Debt Could Be Eliminated

Santee Cooper. It has been the debt. It still is the debt. Customers continue to be on the hook.  Santee Cooper’s business forecast lacks action. The recently released Santee Cooper business forecast released September 9 said, in part: “The…
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Plan the Work, Then Work the Plan to Benefit Santee Cooper Stakeholders

“Plan your work, then work your plan.” Common words of wisdom about managing a problem or project.  Many organizations followed that philosophy. Serves them well. Lots of logic to it. A plan has been created by the state to handle…
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"A Billion Here, A Billion There..."

“A billion here, a billion there, and pretty soon you're talking about real money.” That comment is from more than a half a century ago, attributed to a US Senator* when he was talking about rampant spending. Billions are real…
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Santee Cooper: Two Years, Still Counting

As of July 31 it is two years since Santee Cooper announced it would abandon the VC Summer nuclear project. Time ticks on. So does … A $7 billion shadow: Santee Cooper customers owe $7+ billion in debt – roughly 4 billion from the…
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Taking Steps Forward in the Santee Cooper Situation

The South Carolina legislature is moving ahead in the potential sale of Santee Cooper. For good reason. Governor McMaster in his State of the State Address made it pretty clear that Santee Cooper is saddled with immense debt, in large…