S.C. Lawmakers Setting Rules For Sale

Of state owned Santee Cooper

Patrick Gentry
November 14, 2018 - 12:37 pm
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South Carolina lawmakers have spelled out the factors they would consider if they decide to sell the state-owned utility Santee Cooper.

News outlets reported that a committee said Tuesday the most important consideration in a possible sale would be the impact on customers' rates.

Gov. Henry McMaster has pushed for the sale of Santee Cooper after the failure of a nuclear project in Fairfield County last year. Lawmakers have not yet decided whether to sell Santee Cooper.

Santee Cooper has about $8 billion in debt, much of it from the failure reactor project.

Goose Creek Sen. Paul Campbell says more than two dozen groups have shown an interest in buying some or all of the utility. The committee wants interested parties to submit bids by the middle of January.

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