Santee Cooper Board of Directors approves new rates
December 10, 2024
Approved rates go into effect in April 2025 and reflect customer input received during public comment period.
The Santee Cooper Board of Directors approved new base rates for retail customers, offering new flexibility for customers to control their monthly bills. The new rates will take effect in April 2025 and mark the first increase in base rates since 2017. The approval comes after a months-long public input process that included significant customer feedback.
“The new rates will allow Santee Cooper to keep customers’ monthly bills below the state and national averages while we work to meet growing customer demand, invest in our electric system, and comply with new regulations,” said Jimmy Staton, President and CEO of Santee Cooper.
Under the approved rates, the typical residential customer will see an average $11 increase in their monthly bill. However, customers will have flexibility to reduce their monthly bills by staggering or delaying their use of energy-intensive appliances, including their clothes dryer and water heater.
Compared to current rates, approved rate changes for residential customers on the RG rate include a lower energy charge, dropping from 11.97 cents per kilowatt-hour (kWh) in the summer and 9.97 cents in the winter to a new year-round 7.92 cents; a slightly increased monthly customer charge from $19.50 to $20; and a new demand charge of $8.00 per kilowatt (kW) for the peak hour each month when a customer uses the most electricity. Peak hours are 3 p.m. to 6 p.m. April through October and 6 a.m. to 9 a.m. November through March.
Approved rates for residential customers on the RT, or residential time-of-use, rate include an $8 decrease in the monthly customer charge, a slightly decreased on-peak summer energy charge, a slightly increased on-peak non-summer energy charge, and an increased off-peak energy charge. Peak hours mirror the RG rate and are 3 p.m. to 6 p.m. April through October and 6 a.m. to 9 a.m. November through March.
The approved rates include making permanent what have been experimental REV and EVO electric vehicle rates, with some modifications and a new on-peak demand charge. The Super Off-Peak energy charge remains the same, and charging windows will remain from 11 p.m. to 5 a.m. on the REV rate and 9 p.m. to 5 a.m. on the EVO rate.
Approved rates for commercial customers include a slight increase in the customer charge for all rate categories and, for Small General Service (GA) customers, a reduced on-peak energy charge and the addition of a demand charge. The Board approved an Experimental Rate for low-load factor/low-usage commercial customers and slight changes to demand charges and energy charges for other commercial customers.
The Board also approved new rates for industrial, solar and lighting customers. Customers can learn more about Santee Cooper’s approved rates at www.santeecooper.com/ratestudy
About Santee Cooper
Santee Cooper has served the people of South Carolina for 90 years. Santee Cooper is the state’s largest power provider and the ultimate source of electricity for 2 million people across the state. It also provides clean drinking water to more than 200,000 people. Through its affordable, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper helps power South Carolina.
