Real Facts About Real Savings
Santee Cooper is committed to providing the most reliable energy at the best possible prices, just as we have throughout our long history in South Carolina. That’s a fact. We are also developing a new business plan to improve on our strong record of keeping lights on while holding down costs. As we finalize the details of that plan, here are some important points to consider:
- No Rate Increase: A planned rate-increase process in 2017 was canceled, and no rate increase is anticipated until at least 2021 — and we are working to extend that timeframe.
- Long Record of Productivity Improvements: Since 1998, our generating capacity has increased 47 percent, our transmission miles have increased 25 percent, and we have 49 percent more miles of distribution — all with about the same number of employees today as we had before all that system growth.
- Settlement Revenues: We fought to secure a settlement of $898.7 million from Toshiba following Westinghouse’s bankruptcy. By optimizing the use of those funds, we will provide customers about $1.4 billion in aggregate savings to offset costs related to suspension of the V.C. Summer nuclear project.
The fact is, Santee Cooper is making solid strides every day in our effort to become more efficient and reduce customer costs. You will hear more about these efforts soon. In the meantime, remember that we are here to serve the people of South Carolina, because Santee Cooper is proudly part of this great state.