Report: 15 offers received to purchase Santee Cooper

South Carolina News

COLUMBIA, SC (WCBD) – State lawmakers and Santee Cooper’s board members are expected to review 15 potential buyers this week in an effort to see of the state-owned utility company.

Four of the buyers meet all criteria set by a consultant who was hired to review the bids.

According to the report from that consultant, three of the offers would pay-off Santee Cooper’s $8,000,000,000 of debt.

The report did not identify the potential buyers or give any details on those offers.

Gov. Henry McMaster wants to see the state-owned utility to repay rate-payers for the failed nuclear project.

On Friday, he released a statement after learning about the offers to buy it.

“This is a historic moment. There is no longer any significant reason to delay action needed to solve the Santee Cooper crisis. I ask that members of the General Assembly objectively review this report and place the interest of our state’s ratepayers and taxpayers first and those of the naysayers last.”

State Senator Larry Grooms says the report shows selling Santee Cooper could have questionable value to customers.

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