Provided:
MONCKS CORNER, S.C. – The Santee Cooper Board
of Directors authorized a two-year rate adjustment that will
increase rates for customers an average 3.5 percent each year for two years.
The first adjustment will take effect Dec. 1,
2012, and the second, on Dec. 1, 2013. The adjustments will help Santee Cooper
meet increased costs associated with new generation, primarily the ongoing V.C.
Summer Nuclear Station expansion, and to comply with new environmental
regulations.
Santee Cooper's base rates have not increased
since November 2009.
"In
considering this rate adjustment, the board reviewed an independent rate
analysis, management's proposal, and the comments and input we received from
the public," said Santee Cooper Chairman O.L. Thompson. "I know that times remain
tough for many of our customers. The fact is, Santee Cooper has already cut or
deferred $1.8 billion in capital expenses and approved other cost-saving
measures the past two years. We are now at a point where we must increase
revenues to ensure we can fulfill our statutory requirements to recover our
costs, meet new environmental regulations and build
generation that is important to South
Carolina's future."
The rate adjustment affects residential,
commercial, industrial, municipal and lighting customers. More specific information
can be found at www.santeecooper.com/rates.
Santee Cooper is South Carolina's state-owned electric and
water utility, and the state's largest power producer. The ultimate source of
electricity for 2 million South Carolinians, Santee Cooper is dedicated to
being the state's leading resource for improving the quality of life for the
people of South Carolina.
For more information, visit www.santeecooper.com.
Santee Cooper held a public meeting in Moncks Corner in June to hear from those who would be affected. (John Gaddy/WCIV)
