Joint Resolution on establishing process for the sale of Santee Cooper gets first reading
March 21, 2019
The South Carolina House gave first reading to a Joint Resolution to authorize the Public Service Authority Evaluation and Recommendation Committee to receive and approve offers to purchase state-owned utility Santee Cooper.
Speaker of the House Jay Lucas said:
“The House continues to show leadership on the most significant issues facing the state. The House and Governor spearheaded the effort to have real, attainable protection of ratepayers through the sale of Santee Cooper. Today, we have introduced a thoughtful, workable roadmap to pursue possible sale or other methods to protect ratepayers. I am pleased that Senate President Harvey Peeler has recognized that the time has come to sell Santee Cooper – now we also have the way. We urge the Senate to adopt this Joint Resolution.”
Peeler had moved on Wednesday to authorize Gov. Henry McMaster to sell Santee Cooper, saying that selling the state-owned utility is the best path forward after it accumulated up $4 billion in debt on a failed nuclear plant construction project.
Gov. Henry McMaste released the following statement on S.C. House Speaker Jay Lucas’ proposed resolution that would establish a process for the potential sale of Santee Cooper:
“In the last twenty-four hours, the General Assembly has made historic progress toward protecting South Carolina ratepayers and taxpayers. Speaker Lucas has shown tremendous leadership and his action today demonstrates that a growing consensus is building in both chambers towards the sale of Santee Cooper. While we must continue the thoughtful and deliberate process of evaluating a sale, we cannot afford is inaction or delay.”
