Lawmakers get 1st chance to discuss Santee Cooper sale

COLUMBIA, S.C. (AP) – South Carolina lawmakers plan to hear more about bids to buy a state-owned utility.

A special committee that includes senators, members of the House and Gov. Henry McMaster will hear a consultant’s assessment of more than a dozen offers to buy Santee Cooper on Wednesday afternoon.

Consultant ICF says at least three of the offers agree to wipe out Santee Cooper’s $8 billion in debt and keep utility rates from increasing at the rate expected if the utility wasn’t sold.

The report didn’t identify potential buyers.

The report says there are still questions about the bids, including whether a potential buyer can also keep the South Carolina Electric Cooperatives who buy 60 percent of Santee Cooper’s power happy.

The co-ops can end that contract if Santee Cooper is sold.

South Carolina lawmakers plan to hear more about bids to buy Santee Cooper. FILE

(FILE) South Carolina lawmakers plan to hear more about bids to buy Santee Cooper.