We must stand up for Santee Cooper because it has always stood by our SC communities

Once again our state’s lawmakers are considering the future of Santee Cooper.

Those of us in the utility business know that even though we regularly correspond with all of our community-owners, no one is ever excited to receive their power bill each month. That’s why our customers have right for question what their utility is doing to serve them well — and if they are getting what they are paying to receive.

When it comes to Santee Cooper, the 10 members of our agency alone have received more than $5 million in grants from the utility during the past five years — funds that have been used to prepare commercial and industrial sites in our cities so that they can become sources of economic growth. Santee Cooper has also helped grow businesses and attract jobs in South Carolina by providing our communities with more than $15 million in economic development loans.

If Santee Cooper is sold to private investors, however, the current productive model will change; it will become accountable to shareholders who will be concerned with maximizing profits.

Historically many rural states and communities embraced the public power model because they were otherwise ignored or neglected by private businesses that didn’t see any potential for making profits in these areas. That’s why under the public power model, decisions are made with the long-term interests of the community in mind; they aren’t made in the interests of investors seeking short-term profits.

All across our nation, public power utilities generate more than $58 billion in annual revenue; they also invest more than $2 billion annually directly back into their communities. On average public power utilities invest 27% more of their revenues back into their communities compared to what private utilities pay in taxes.

Local ownership also means that customers and business leaders have increased access to utility leadership. You can’t tell Fortune 500 executives what you think about their companies when you see them out in your community. Why not? Because they will likely never set foot in your community.

But it’s about more than just seeing executives out in your community: Santee Cooper also directly employs more than 1,600 South Carolinians who have a vested interest in providing excellent service to their friends and neighbors.

Community stakeholders like myself are concerned that a change in ownership of Santee Cooper would endanger a vital driver of economic development and activity in our state. Santee Cooper brings so many economic benefits to all South Carolinians — and that should be front and center in the minds of our lawmakers as they discuss the utility’s future.

Coleman Smoak is the general manager of Piedmont Municipal Power Agency, a joint-action agency that provides wholesale electric services to 10 communities in upstate South Carolina.

This story was originally published March 16, 2020 at 2:27 PM.