Don’t sell Santee Cooper; don’t bail out SCANA

As an electric coop customer, I appreciate the Santee Cooper Board of Directors committing to no immediate rate increases to absorb the cost of the abandoned V.C. Summer nuclear project.

I strongly urge against selling Santee Cooper, which is a significant state asset that can bring large new manufacturers to the state. In this case, privatization is not in the public interest. I really hope Gov. Henry McMaster will look at the big picture.

I also believe that SCANA stockholders should absorb a significant portion (if not all) of the cost of the blunder. SCANA can start paying the cost by substantially reducing executive salaries and bonuses; it also should claw back some of the recent executive bonuses for the failure in executive leadership to ensure the prudent management of the project.

SCANA ratepayers should not be stuck with the bill, and I really hope the Legislature does not give a taxpayer bailout to SCANA.

This story was originally published August 20, 2017 at 6:30 PM with the headline "Don’t sell Santee Cooper; don’t bail out SCANA."