SC House passes bill to remove Santee Cooper board, initiate stu - - Columbia, South Carolina


SC House passes bill to remove Santee Cooper board, initiate study of state-owned utility

(Source: Florencebballer/Wikimedia Commons) (Source: Florencebballer/Wikimedia Commons)

The South Carolina State House of Representatives passed a bill that would remove Santee Cooper's Board of Directors and set up a committee to study the sale of the state-run utility. 

The bill, which passed 104-7 on Tuesday will now go to the State Senate for a vote. 

Governor Henry McMaster released a statement in favor of the bill's passage, saying: 

Santee Cooper is saddled with $8 billion dollars in debt - $4.3 billion of it comes from the failed VC Summer project. The leadership of this rogue agency has demonstrated on numerous occasions that their interest lies in protecting their own jobs rather than protecting their own ratepayers. 

As I have stated before — the only feasible solution to protect ratepayers from shouldering this debt is the sale of Santee Cooper.

Speaker Lucas and the House of Representatives have shown tremendous leadership in their efforts to protect the ratepayers of our state. This legislation will allow the future of Santee Cooper to be objectively determined through a transparent and accountable process that places the interests of taxpayers and ratepayers first. 

I applaud the House for taking this historic first step and urge the Senate to pass it without delay.

Check back for more updates. 

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