Santee Cooper cancels proposed rate increases after suspending n - wistv.com - Columbia, South Carolina

Breaking

Santee Cooper cancels proposed rate increases after suspending nuclear plant expansion

The V.C. Summer nuclear plant. (Source: WISTV) The V.C. Summer nuclear plant. (Source: WISTV)

MONCKS CORNER, SC (WMBF) – Santee Cooper has cancelled the two proposed rate increases that would have raised customers’ power bills in 2018 and 2019, following last week’s suspension of the construction of the two nuclear power units at the V.C. Summer Nuclear Station.

According to a news release from the power company, the Santee Cooper Board of Directors voted to cancel all steps in the rate process, including the rate comment meetings scheduled for next week, an October public hearing on the rate proposal, and a scheduled December Board vote on the rate increases.

According to the release, next week’s canceled rate comment meetings are:

Aug. 14, 6 p.m., Moncks Corner

Aug. 15, 2 p.m. in North Myrtle Beach, 6 p.m. in Pawleys Island

Aug. 16, 2 p.m. in Conway, 6 p.m. in Myrtle Beach

“Conditions have changed materially since the rate process began in March,” said W. Leighton Lord III, Chairman of the Santee Cooper Board of Directors. “Our recent Board votes to suspend the nuclear project and also to accept a negotiated settlement with Toshiba, Westinghouse’s parent company, allow us to now cancel this rate process. The Board will continue to make decisions based on what is necessary to protect the financial integrity of Santee Cooper.”

Santee Cooper is planning informational meetings in the coming weeks to discuss the factors leading up to the suspension of the Summer plant expansion, the release states. Details on those meetings will be announced soon.

Related Story:

Copyright 2017 WMBF News. All rights reserved.

  • Trending StoriesTrending StoriesMore>>

  • College student arrested; tried to trade chicken alfredo, Sprite for sex

    College student arrested; tried to trade chicken alfredo, Sprite for sex

    Wednesday, December 13 2017 3:38 PM EST2017-12-13 20:38:04 GMT

    Youngstown State University student Albert Maruna was caught red-handed and arrested this week after he allegedly attempted to have sex with a 15-year-old boy, who turned out to be an undercover officer.  

    More >>

    Youngstown State University student Albert Maruna was caught red-handed and arrested this week after he allegedly attempted to have sex with a 15-year-old boy, who turned out to be an undercover officer.  

    More >>
  • Roy Moore responds after Senate loss to Doug Jones

    Roy Moore responds after Senate loss to Doug Jones

    Wednesday, December 13 2017 10:58 PM EST2017-12-14 03:58:33 GMT
    (Source: Moore campaign)(Source: Moore campaign)

    Roy Moore has released a statement following his loss to Senator-elect Doug Jones in Tuesday's election.  Moore released a video to the people of Alabama. The transcript is below: Tomorrow, my wife and I will celebrate our 32nd wedding anniversary. I want to thank her and all my family, for standing with me through this long and arduous campaign. And of course, I want to thank all of you who have stood with me in this very important battle for the future of our country. We ...

    More >>

    Roy Moore has released a statement following his loss to Senator-elect Doug Jones in Tuesday's election.  Moore released a video to the people of Alabama. The transcript is below: Tomorrow, my wife and I will celebrate our 32nd wedding anniversary. I want to thank her and all my family, for standing with me through this long and arduous campaign. And of course, I want to thank all of you who have stood with me in this very important battle for the future of our country. We ...

    More >>
Powered by Frankly