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  • Senators Shane Massey and Nikki Setzler
    Senators Shane Massey and Nikki Setzler

Senators seek debt-ridden Santee Cooper solution

Options include selling giant utility in whole or part
Two Lexington County senators will head efforts to decide Santee Cooper's future.
 
The giant taxpayer-owned power company is an estimated $8 billion in debt.
 
Half that is due to its partnership with SC Electric & Gas in a failed $9 billion nuclear project.
 
Senate Majority Leader Shane Massey and Minority Leader Nikki Setzler who represent voters in Lexington County will lead the Santee Cooper Select Committee.
 
Senate President Harvey Peeler said, “Every option is on the table.
“I want this Select Committee to do what is in the best interest of the ratepayers of Santee Cooper and the taxpayers of South Carolina.” 
 
Santee Cooper supplies electricity to Mid-Carolina Electric Cooperative members in Lexington County.
 
Also appointed to the committee is Sen. Tom Davis, sponsor of bills to inject competition into the power industry.
 
SC ratepayers are charged electric rates among the highest in the US.

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