Taking Steps Forward in the Santee Cooper Situation

From Scott Carlberg The South Carolina legislature is moving ahead in the potential sale of Santee Cooper. For good reason. Unless sold, Santee Cooper customers will pay higher electricity rates to help pay for a hole in the ground. Governor McMaster in his State of the State Address made it pretty clear that Santee Cooper Read more about Taking Steps Forward in the Santee Cooper Situation[…]

It’s Spring and Debt Relief Is In the Air!

From Scott Carlberg Last week the South Carolina House and Senate both started down a road to sell Santee Cooper and relieve the massive debt hanging over the heads of consumers. Now, the legislature needs to complete that journey by closing the sale.  That’s the only outcome that will provide a financial benefit to South Read more about It’s Spring and Debt Relief Is In the Air![…]

Santee Cooper Sale: Take Action, Or…

The government of South Carolina can lift the $9 billion debt anvil off Santee Cooper customers and the citizens. And now it may be taking action. On March 20 Senator Harvey Peeler filed a bill to allow the Governor to sell Santee Cooper. As this blog posts the bill is being considered in the Finance Read more about Santee Cooper Sale: Take Action, Or…[…]

Santee Cooper Debt – Tick, Tick, Tick … $, $$, $$$$

Debt adds up daily for Santee Cooper because of the VC Summer nuclear project shutdown and other operations. It is a million dollars a day just from the interest that is adding up. ECC has written about the debt for some time. The main point ECC has made about the debt is usually the amount: Read more about Santee Cooper Debt – Tick, Tick, Tick … $, $$, $$$$[…]

Could Santee Cooper Debt Climb $300,000,000 More?

A million dollars a day is being added to Santee Cooper’s debt for the unfinished nuclear facility and its utility operations. ECC wrote about that just a few weeks ago. Here’s a twist on that: Some news reports say the South Carolina Legislature may study the possible sale of Santee Cooper until the end of Read more about Could Santee Cooper Debt Climb $300,000,000 More?[…]

Speaking Out For Our Energy Future

For a year Energy Consumers of the Carolinas [ECC] has provided consumer information. Now readers can see a definite viewpoint in some of our work. Our site now features some calls to action about important energy issues. It’s time. Why? ECC believes that the Carolinas have done so well in so many energy projects. These Read more about Speaking Out For Our Energy Future[…]

SC Debt: A Million Dollar Decision. Time’s Up.

A story in The State says, “The 177,000 customers that Santee Cooper directly serves now are paying about $5.35 a month, on average, for the failed [V.C. Summer] nuclear project. Barring a sale or another major change, that eventually will rise to $13.33 a month.” It adds up to real money, out of customers’ real pockets, Read more about SC Debt: A Million Dollar Decision. Time’s Up.[…]

Santee Cooper Financial Rating is Lowered

The financial rating agency Fitch* lowered the rating of Santee Cooper’s bonds. Admittedly it is a change from A+ to A-, but a two-step downgrade nonetheless. The direction is not what is desired. Also, the rating went from a “negative watch” to “negative.” The change happened the week of November 13. Typically, if an organization Read more about Santee Cooper Financial Rating is Lowered[…]

Debt: There Are “No Shortcuts”

“Black Friday,” November 23, is coming up fast and shoppers will hit the stores with credit cards in hand. It is a day when a lot of household debt is created. So we will use that date to look at debt because the terminated nuclear project leaves South Carolina – and some of its electric Read more about Debt: There Are “No Shortcuts”[…]

SC Legislature Starts Critical Process About Santee Cooper

The South Carolina legislature on Tuesday tackled a thorny issue:  How to handle the sale of Santee Cooper. Consumers concerned about the mammoth debt from the terminated V.C. Summer nuclear plant should keep their eyes on the key criteria of a possible sale, as reported in the Post and Courier: “But first a company must Read more about SC Legislature Starts Critical Process About Santee Cooper[…]