South Carolina electric co-ops ponder sale of state utility
COLUMBIA, S.C. (AP) — South Carolina's electric cooperatives want lawmakers to consider selling the state-owned utility Santee Cooper.
The Electric Cooperatives of South Carolina told lawmakers Thursday they should test the market to determine if customers would save money if Santee Cooper was sold.
Media reported the proposal comes after Santee Cooper and South Carolina Electric & Gas Company spent $9 billion before abandoning construction of two nuclear reactors last summer. The utilities primarily blamed the bankruptcy of lead contractor Westinghouse.
Co-op executive Mike Couick told lawmakers whether Santee Cooper is sold, changes are needed in its operations.