Signed by Governor Henry McMaster

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the sale of Santee Cooper; a state owned electric and water utility.

Highlights:

• Authorizes the sale of the assets of the South Carolina Public Service Authority and the assumption or defeasement of its liabilities in the manner provided by this act (Sec. 1).

• Establishes a special committee which is composed of six members, three from each House and selected by each body in the same manner members of conference committees are selected by that body that will consider offers for the sale of some or all of the assets of the Public Service Authority of South Carolina (Sec. 2).

• Specifies analysis of sales must include an estimate of the following (Sec. 58-31-296):

• The probable future growth of the use of electricity;

• The probable need of generating reserves;

• In the judgment of the commission, the optimal extent, size, mix, and general location of generating plants;

• In the judgment of the commission, the optimal arrangements for statewide or regional pooling of power and arrangements with other utilities and energy suppliers to achieve maximum efficiencies for the benefit of the people of South Carolina; and

• The comparative costs, on a net present-value basis, of meeting future growth by other means of providing reliable, efficient, and economic electric service, including the purchase of power, competitive market power purchases, joint ownership of facilities, refurbishment of existing facilities, conservation (including energy efficiency), load management, distributed generation, and cogeneration.

• Requires a notice of proposed rate increases to contain the following information (Sec. 58-31-710.2):

• The date, time, and location of all public meetings;

• The date, time, and location of the meeting at which a proposed rate increase is expected to be submitted to the board of directors for its consideration;

• The date, time, and location of the meeting at which the board of directors is expected to vote on the proposed rate increase;

• A notification to customers of their right to:

• Review the proposed rate schedules;

• Appear and speak in person concerning the proposed rates at public meetings or the specified meetings of the board of directors; and

• Submit written comments;

• How customers can submit written comments, including the email and physical addresses to which written comments may be submitted, and the deadline for submitting such comments; and

• How customers can access and review a written report containing the proposal of proposed rate adjustments, any rate study, or other documentation developed by the authority in support of the rate increase when these materials become available.

• Requires rates become effective no earlier than 90 days after the board votes on the proposed rate increases (Sec. 58-31-710.7).

• Requires a certificate for the construction of a major utility facility be granted only if the Public Service Authority demonstrates and proves by a preponderance of the evidence and the commission finds the following (Sec. 58-33-180):

• The construction of a major utility facility constitutes a more cost-effective means for serving direct serve and wholesale customers than other available long-term power supply alternatives and provides less ratepayer risk while maintaining safe and reliable electric service than other available long-term power supply alternatives; and

• Energy efficiency measures; demand-side management; renewable energy resource generation; available long-term power supply alternatives, or any combination thereof, would not establish or maintain a more cost-effective and reliable generation system, and that the construction and operation of the facility are in the public interest.

Full Bill Text