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SC agency recommends Dominion, NextEra to reform Santee Cooper

SNL Energy Power Daily, 2020-02

Copyright SNL Financial LC Feb 12, 2020 ;EISSN: 1556-6943

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  • Title:
    SC agency recommends Dominion, NextEra to reform Santee Cooper
  • Author: Meyers, Ellen
  • Subjects: Cost control ; Decision making
  • Is Part Of: SNL Energy Power Daily, 2020-02
  • Description: The Department of Administration, which state lawmakers charged with exploring a potential sale of Santee Cooper, said the plans are "three viable options" that could help the utility address its estimated $7.9 billion of debt and digest its abandoned V.C. Summer nuclear expansion project instead of passing related costs on to customers. "The reform plan provides for improved governance and substantial savings, and the Dominion management proposal and the NextEra sale bid provide alternatives worthy of consideration by the General Assembly and the governor," the agency said. Dominion spokesperson Ryan Frazier said the company is pleased with the recommendation, noting that its proposal would "provide the cost-saving benefits of a sale while maintaining benefits of state ownership — with state authority over operations and decision-making — all without decreasing employment levels in Santee Cooper's plan.
  • Publisher: Charlottesville: SNL Financial LC
  • Language: English
  • Identifier: EISSN: 1556-6943
  • Source: ProQuest Central
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