COLUMBIA, S.C. (AP) — State regulators said a former chief executive with the parent company of South Carolina Electric & Gas co. was paid nearly $2 million as a consultant but the company has provided no documents on what he did to earn the money.
SCANA Corp. hired William Timmerman the day after he resigned as the company’s CEO in November 2011 at a $360,000 salary, according to documents filed by the South Carolina Office of Regulatory Staff.
Timmerman was eventually paid $1.8 million, split between SCE&G and state-owned Santee Cooper, reported The State newspaper, which first obtained the documents.
His tenure as a consultant covered a critical time as the utilities worked together to build two nuclear reactors. The multi-billion dollar project suffered a number of cost overruns and was abandoned last year before ever generating power.
In their filing with the state Public Service Commission, regulators said that SCE&G customers should not have to pay the nearly $1 million the company gave to Timmerman and their rates should be adjusted accordingly. Santee Cooper’s rates are not subject to this review.
Timmerman’s contract was disclosed in 2011 and SCE&G will respond to regulators with testimony later this month, utility spokesman Eric Boomhower said.
The newspaper said it could not reach Timmerman on Monday. He now is a board member for Pacolet Milliken, the Greenville-based company that is considering a bid to buy Santee Cooper.
Several lawmakers said the lack of information about Timmerman’s work is yet another example of SCE&G’s incompetence.
“There may be no documents reflecting Mr. Timmerman’s work product, but there’s certainly evidence of his work product, which is a $9 billion hole on the ground,” said Senate Majority Leader Shane Massey, a Republican from Edgefield. “They paid him $1.8 million to consult on something, and it failed.”