Lexington County Chronicle
April 16, 2020
By Frank Knapp Jr., Special to the Chronicle
The virus has delayed lawmakers’ plan to decide what to do about Santee Cooper’s future. The state has already spent more than $15 million for expert advice. Most lawmakers want a decision made this year.
The pandemic is going to make Santee Cooper’s $4 billion nuclear construction debt even worse. We are in a recession.
Small businesses in Lexington County and across our state are closing temporarily or for good. Manufacturers are cutting back production or suspending it.
Demand for electricity – Santee Cooper’s principal product – has dropped. That demand will continue to decrease.
Mid-Carolina Electric Cooperative members in Lexington County will continue to be energy consumers. But many utility users who have lost their jobs will not be able to pay their electric bills for a few months.
Because utilities will not disconnect service for nonpayment of bills, the energy costs to utilities will remain high and delinquent bills might never be paid.
Unlike investor-owned Dominion Energy, Santee Cooper is totally dependent on customers to pay operating costs and debt.
Selling Santee Cooper to a financially-solid investor-owned utility is the only option to reduce rates and remove its debt from ratepayers and taxpayers.