S.C. Department of Administration issues Santee Cooper report

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The S.C. Department of Administration has released its long-awaited report on the future of Santee Cooper, setting the stage for the General Assembly and Gov. Henry McMaster to make their decision on what to do with the public utility.

The S.C. Legislature passed a joint resolution in May directing the Department of Administration to work with outside experts to evaluate bids received for the management or sale of Santee Cooper and recommend one management proposal and one sale bid.

The resolution also instructs the outside advisers to evaluate a reform plan put forth by Santee Cooper.

The department’s report (.pdf) recommends the management plan put forth by Dominion Energy Inc. and the sale bid submitted by NextEra Energy Inc., though the report does not endorse any actions, including Santee Cooper’s reform plan.

“While this report is intended to assist the General Assembly and the governor in making a decision, such decision is reserved for the General Assembly and the governor, in the exercise of their considered judgment and discretion,” the report says.

McMaster said in a statement that the interests of South Carolina’s ratepayers and taxpayers “must be first and foremost in the minds of members of the General Assembly” as they make a decision about Santee Cooper.

“The politics of indecision is unacceptable,” he added. “The time to act is now.”

House Speaker Jay Lucas, R-Hartsville, said in a statement that the House plans to make decisions through public hearings “and after ample debate” to maintain transparency.

“The actions taken in the coming weeks and months are of significant consequence, and we will not take them lightly,” he said. “I am hopeful we can determine the best outcome that will protect our citizens as well as the momentum of our economy.”