House, Senate leaders ask McMaster to pump the brakes on Santee Cooper sale

House, Senate leaders ask McMaster to pump the brakes on Santee Cooper sale
Santee Cooper board meeting (Source: WIS)

COLUMBIA, SC (WIS) - Leaders from the South Carolina House and Senate are asking Gov. Henry McMaster to pump the brakes on the potential of selling state-owned utility Santee Cooper.

In a leader to the governor, Senate Pro Tempore Hugh Leatherman and Speaker of the House Jay Lucas say while they respect and appreciate McMaster's commitment to helping the state following the collapse of the V.C Summer nuclear project in Fairfield County, they want to have a say in the potential sale.

"If our state's public utility is to be sold, we must know that it is the best and most fiscally responsible choice for South Carolina," the letter said.

The letter goes on to say leaders want to know the true value of the utility before it is "sold at a fire sale price." They are requesting the governor's office turn over any valuation studies that have been conducted.

They also pledge that the General Assembly will also do its due diligence on a potential sale by hiring an outside expert to conduct a valuation of Santee Cooper and pushing for a performance audit of the utility.

"We firmly believe that each of us shares the same goal and that we wish to make the best decision for South Carolina and its ratepayers," the letter said. "Whatever the outcome, we must ensure that Santee Cooper's ratepayers have available and affordable power and protect this tremendous investment from being sold expediently as a result of a quick political decision."

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