Posts

Crunch Time for Santee Cooper

Santee Cooper has its work cut out for itself given the actions of two other South Carolina utilities. We’ll see if the Santee Cooper organization can rise to the occasion, or even if it is asked to rise to the occasion by the state. Dominion…

Tidy-up the Smaller State of Bigger Government

Considering the South Carolina Senate’s vote to attempt reform of Santee Cooper, it was interesting to see a human nature news story this past week. The article cites a study and book that says when people face a dilemma, they typically heap…

The Truth About Santee Cooper’s Annual Report

Santee Cooper’s 2020 Annual Report is public. I have worked for a couple big firms. I get that annual reports need to provide numbers, and they are also showpieces. A chance to strut and preen. The peacock is on display with the Santee Cooper…

Will Legislators Keep Spending OPM on Santee Cooper?

The South Carolina General Assembly is debating OPM – Other People’s Money. OPM is a broad term that means cash is not coming from the wallets of people making the decisions. Decision-makers are largely immune from having financial skin…
The Santee Cooper Contagion Effect
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The Santee Cooper Contagion

An infection may be festering in South Carolina. Senator Wes Climer labeled it as a contagion. He busted a fallacy – that the state isn’t on the hook for Santee Cooper’s debt. It was part of the discussion in a March 30 Senate Judiciary…

Santee Cooper Reform ... April Fools'!

April Fools'! It's Santee Cooper reform again. A column in the Post and Courier mounted a defense of Santee Cooper reform efforts. A selective defense, too. Real reform gives the PSC final say over Santee Cooper rates, just for one. Accountability.…
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The “Well, Duh” of Santee Cooper

Santee Cooper’s claims of reform do not have to be long term. Just need to be a few months until the heat is off. At that point everyone will be so tired of talking about Santee Cooper it can go on its way. Won’t matter if the right…
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Santee Cooper’s Limited Choices

An old saying is, “How do you want it – good quality, fast, or cheap? Pick two, because you can’t have all three.” Every homeowner who’s ever hired-out a project knows if you demand high-quality delivered on a rapid timeline you are…
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Special Delivery to the South Carolina General Assembly

Santee Cooper CEO Mark Bonsall sent a letter to the General Assembly in late January announcing Santee Cooper will be in debt until 2055. Although likely not his intent the letter clearly highlights the choice confronting legislators: Pay off…
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Why Santee Cooper "Reform" Won’t Work

Santee Cooper is different from almost every other utility in three big ways: It is state-owned Its Board of Directors has absolute autonomy over the rates it charges customers and the money the organization spends Mismanagement…