Lawmakers Call for Independent Study of Santee Cooper’s Value

COLUMBIA, S.C. (WOLO)- The debate over what to do about the V.C. Summer nuclear failure continues as the retiring president of Santee Cooper sat before senators Wednesday. A big topic of discussion right now is what should happen to the company going forward.

As a state entity, the General Assembly has the responsibility of selling Santee Cooper, but before they consider making that deal, lawmakers said they need more information from the company and the governor.

In a letter to Governor McMaster, lawmakers requested his office provide “any valuation studies that have been conducted on offers concerning the potential sale of Santee Cooper.”

Governor McMaster responded to statehouse leaders in a letter reading, “As for an independent valuation of Santee Cooper, I have sought an entity to conduct one but I have not made a decision. I will be happy to discuss any and all options with you.”

Retiring Santee Cooper president Lonnie Carter said the company is valuable but the sell could be a tough one.

“Santee Cooper can be sold, that authority has already been clarified by you Senator Massey, Mr. Chairman. It rest with the General Assembly. It can be done but there are some complications with it that simply would have to dealt with,” said Carter.

In addition to examining the company’s value, lawmakers also continue to investigate what caused the sudden shutdown so other companies can avoid making similar mistakes if Santee Cooper is purchased.