S.C. Utility Will Not Be Under-Sold

Governor seeking most "fiscally responsible choice"

Patrick Gentry
October 11, 2017 - 3:36 pm

South Carolina legislators are emphasizing only the General Assembly can sell a state-owned utility, and it makes no sense to do so at a ``fire sale price'' following the abandonment of a multibillion-dollar nuclear power project.

Gov. Henry McMaster is negotiating with power companies to buy all or part of Santee Cooper. McMaster says he wants a buyer to either complete one of both of the partially built reactors or refund customers the billions they've sunk into the scuttled project.

In a joint letter to McMaster, House Speaker Jay Lucas and Senate President Pro Tem Hugh Leatherman wrote Wednesday any sale of Santee Cooper must be in the ``best and most fiscally responsible choice for South Carolina.''

They say no offers will be accepted until Santee Cooper's value is evaluated.

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