Santee Cooper studying whether it needs rate hike

MONCKS CORNER, S.C. (AP) — Santee Cooper is studying whether it needs to raise its rates starting next year.

South Carolina’s state-owned electric utility’s board of directors decided Monday to tell its management to study whether current rates will support future expenses. Those expenses include the costs of complying with environmental rules on power generation and the construction of new nuclear reactors at V.C. Summer Nuclear Station near Columbia.

Management is expected to report back to the board in May.

If the utility proposes raising rates, there would be a public comment period and a vote on new rates a year from now.

Santee Cooper put a more-than 3 percent rate increase into effect two years ago. That was the utility’s first rate increase in 13 years.