Legislature Won't Sell Santee Cooper at "Fire Sale Price"
Wednesday, October 11, 2017 at 6:26PM

COLUMBIA, S.C. (AP) - South Carolina legislators are emphasizing only the General Assembly can sell a state-owned utility, and it makes no sense to do so at a "fire sale price" following the abandonment of a multibillion-dollar nuclear power project.

Gov. Henry McMaster is negotiating with power companies to buy all or part of Santee Cooper. McMaster says he wants a buyer to either complete one of both of the partially built reactors or refund customers the billions they've sunk into the scuttled project.

In a joint letter to McMaster, House Speaker Jay Lucas and Senate President Pro Tem Hugh Leatherman wrote Wednesday any sale of Santee Cooper must be in the "best and most fiscally responsible choice for South Carolina."

They say no offers will be accepted until Santee Cooper's value is evaluated.

Article originally appeared on The Anderson Observer (http://andersonobserver.com/).
See website for complete article licensing information.