What is Santee Cooper’s future path? Who knows. But at least now we know which roads are before us

Whatever your feelings about Santee Cooper — and there has been more than a fair share of debate and controversy regarding the utility in recent years — one thing should be beyond question:

Our state and our citizens will be negatively impacted if Santee Cooper, still grappling with a $3.6 billion debt from its now-abandoned involvement in the star-crossed V.C. Summer nuclear project, is simply allowed to endure an undignified demise.

Santee Cooper has a major footprint across the entire state, from serving 2 million South Carolinians either directly or indirectly to employing more than 1,650 workers; from boasting a $150 million annual payroll to having a hand in economic development in every one of South Carolina’s 46 counties.

It’s critical, then, that this state-owned utility remains a viable presence in South Carolina — in whatever version “viable” eventually turns out to be.

That’s why there is reason for encouragement following the SC Department of Administration’s release of its long-awaited report offering recommendations to state lawmakers on what should and could be done with Santee Cooper.

Three clear plans

The state department recommended NextEra, a Florida energy company, as the best buyer for Santee Cooper if state lawmakers decide to sell the utility; in addition the report identified Dominion Energy, a Virginia-based company already operating in South Carolina, as the preferred choice if legislators seek to have another private energy firm oversee Santee Cooper under a management contract.

Meanwhile, Santee Cooper has put together its own plan, which focuses on implementing a number of reforms to reinvigorate and redirect the utility under its relatively new CEO, Mark Bonsall.

In short, three clear paths have been put forth for Santee Cooper’s potential future: a new buyer, a new manager or a new iteration of Santee Cooper itself. And while many more questions must be asked and answered before lawmakers decide which path Santee Cooper will take, any one of these choices — on the surface, anyway — sounds far more proactive than just passively allowing the utility to face a potential future of diminishing returns and gradual decline.

Santee Cooper’s impact throughout our state remains far too huge for its eventual fate to be taken lightly, so the Department of Administration’s thorough report was well worth the wait; it does a good job of laying out the tough yet intriguing decisions that are still to come.

This story was originally published February 12, 2020 at 5:37 AM.