Don’t let Santee Cooper’s debt make you pay higher electricity bills!
Santee Cooper Customers to Pay for a $9 billion Debt That’s Growing by $1 Million Each Day — Unless Elected Officials Act.
Santee Cooper Customers’ share of the $9 billion Santee Cooper debt is growing $1 million each day and the bill is fast coming due.
South Carolina owns Santee Cooper and legislators have a choice: Sell Santee Cooper to a company who will pay off the debt; or make Santee Copper customers pay it.
Right now, every Santee Cooper customer is on the hook to pay Santee Cooper’s $9 billion debt about half of which is from the failed V. C. Summer nuclear project, a debt that is growing $1 million each day. That debt will continue to pile up on the backs of Santee Cooper customers who will be stuck paying the bill unless legislators agree to sell the state-owned utility to a company in a way that benefits customers and South Carolina.
If they don’t, customers will pick up the tab. And the longer legislators delay the more customers will pay. That means higher electricity bills for Santee Cooper customers and that’s not right. It’s not fair. Customers will be saddled with higher electricity bills and get nothing in return.
The Solution – Get Rid of the Debt. Sell Santee Cooper
The South Carolina legislature has appointed a special committee to evaluate bids from potential buyers for Santee Cooper and make a recommendation to the full South Carolina legislature, who will make the final decision whether or not to sell. The special committee is meeting now to evaluate bids.
We believe the state should sell Santee Cooper to a responsible utility able to eliminate the $9 billion and rapidly growing debt burden from South Carolina consumers. We’re asking South Carolina consumers to contact their legislators and ask them to get rid of Santee Cooper’s growing debt by selling Santee Cooper. Delay means another $1 million added to an $9 billion customers will have to pay. Contact your legislators today!
Why a Sale Benefits Santee Cooper Customers and South Carolina
- The debt would be assumed by the buyer. Customers wouldn’t be stuck with paying it.
- Without a sale that benefits customers and South Carolina, state-owned Santee Cooper must raise rates on its customers to pay off the $9 billion debt, which is growing by $1 million every day.
- The debt leaves Santee Cooper with limited ability to operate and maintain infrastructure, let alone invest in upgrades and modernization.
- Eliminating the debt through a sale would allow the new utility to invest in energy efficiency, renewables and a more modern system to meet South Carolina’s growing population and economic needs.
- The V.C. Summer nuclear project is a bust, but it shouldn’t bust the budgets of hard-working South Carolina families.
- Customers can’t afford to shoulder the burden of Santee Cooper’s debt which is growing at $1 million each day.
- It’s time to get rid of the debt, by selling Santee Cooper in a way that benefits customers and South Carolina.
- Customers deserve affordable and reliable energy that creates jobs and helps grow our economy.
- A growing debt on the state’s largest utility is a deadweight on our economy and a drag on our continued growth. Selling Santee Cooper is the right decision for our state, consumers and our local businesses.