January 27, 2019

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Act Now!  

State-owned Santee Cooper is billions in debt, and it’s growing at a rate of $1 million each day. That’s a debt South Carolina customers will have to pay through higher electricity rates.

As a Santee Cooper spokesperson told WMBF-TV (Myrtle Beach) News recently, “…taxpayers are not responsible for Santee Cooper debt. We are able to recoup that through rates.

The Senate has begun debating a bill, S. 678, that would start the process for the sale of Santee Cooper.  The bill calls for a competitive bidding process and criteria for the evaluation of offers.

S. 678

S. 678 calls for the South Carolina Department of Administration to conduct a competitive bidding process for the sale of Santee Cooper.

The Department must evaluate the bid responses and consider certain criteria, including:

  1. Financial capability of each bidder
  2. Bidder’s ability to completely eliminate all of Santee Cooper’s debts and bonds
  3. Agreement to provide meaningful short-term and long-term rate relief for all customer classes
  4. Provision of reasonable financial and other protections for Santee Cooper employees and retirees
  5. Proposed location for its headquarters post-acquisition
  6. Agreement to with all applicable federal and state environmental protections regarding Lakes Marion and Moultrie, their rivers and tributaries, and other recreational assets of Santee Cooper, including a covenant to maintain the present status quo regarding these lakes
  7. Agreement to partner with the state for future economic development projects.

The legislation establishes a process for the Department to present its findings to both the Senate and House of Representatives, each of which must approve a sale.

Please support the sale of Santee Cooper by writing to your Senator today.

Santee Cooper Sale FAQs

Learn More about the sale of Santee Cooper and its growing $1 million dollar-a-day debt.