Last week it was announced that South Carolina Senate President, Harvey Peeler introduced new legislation for the sale of Santee Cooper. The joint resolution would authorize Governor McMaster and his administration to lead the sale.
After meeting with several key executives from the state-owned utility who were unable to answer many of the committee’s questions, Senator Peeler thought the best move for South Carolina taxpayers and all Santee Cooper direct serve and co-op customers was to sell.
A move which many residents and organizations around South Carolina have been pushing for. Energy Consumers of the Carolinas created a video briefly explaining Santee Cooper’s massive debt and the importance of selling the state-owned utility.
Watch the video below:
Santee Cooper and electric co-op customers to pay for $9 billion debt that’s growing by $1 million each day. Unless the legislature sells Santee Cooper many could see their electric bills go up….
However, shortly after Senator Peeler introduced his new legislation, House members introduced a new version which take control of the sale from the Governor and put it into the hands of a legislative panel.
Unfortunately for Santee Cooper direct serve and co-op customers, while lawmakers review both bills and decide on which to move forward with, Santee Cooper’s debt continues to increase by over a million dollars each day.