In 2013, Santee Cooper and SCE&G began construction on their V.C. Summer Nuclear Project hoping to bring new energy sources to their customers. Four years later, Santee Cooper and it’s direct-serve and co-op customers remain billions in debt and growing a million each day, while SCE&G customers were sold to Dominion and have been elevated from some but not all of their debt burden.
Santee Cooper alone has $8 billion in debt, half of which comes from the failed nuclear project. If all things remain unchanged, the state-owned utility has no other option but to raise rates on all direct serve and co-op customers in order to pay off the debt. That is, unless, state lawmakers make the decision to sell to a private utility who can absorb the debt.
Take this quick quiz to find out!
Palmetto Promise Institute, an organization that researches, studies, and promotes public policy which supports a free and flourishing South Carolina, has a quiz that will test your knowledge on the Santee Cooper fiasco and let you know if you’ll be affected by the debt.
Take the quiz here.