The South Carolina Senate voted 42-1 to move ahead and seek bids for the sale, management or reorganization of Santee Cooper.
It is a positive step in the process. Discussion. Debate. Steps taken. Those are good.
South Carolinians concerned about Santee Cooper’s billions in debt and the way it could impact rates, and their family budgets, can be encouraged by the step taken by the Senate. Now, the measure now goes to the House.
The State reported that bids would be judged on various factors, noted in its May 2 story here.
Some of the criteria noted in the story include:
- How the bidder would treat Santee Cooper’s electric rates over the next 20 years
- How many of the Santee Cooper’s employees would lose their jobs over the next five years under the agreement
- Whether the bidder would keep or eliminate Santee Cooper’s headquarters in Moncks Corner
- Whether the bidder would pay off all of Santee Cooper’s debts
ECC believes a sale can protect consumers from Santee Cooper’s debt. We will do our best to keep readers informed.