nuclear fiasco aftermath

The SC General Assembly frequently passes laws directing entities to do certain things, but often fails to include funding. As their 2019 session wound down, lawmakers told the Department of Administration to seek offers from companies who want to buy or manage Santee Cooper. The department is to bring the best offers to the General Assembly for consideration. Santee Cooper will be allowed to explain how it would improve itself if not sold. The intent is to give lawmakers 3 options to consider about the fate of Santee Cooper. The Department of Administration said it needs $20 million to hire financial and legal experts to review the offers, but the lawmakers had only set aside $5 million. Sen. Hugh Leatherman wrote Santee Cooper requiring it to cover the other $15 million. The senator cited H. 4287 to justify this. That bill requires Santee Cooper to “provide any and all resources necessary to assist in the process for competitive bids and management proposals, as well as the evaluation of the bids and management proposals received by the department.” Some lawmakers questioned if H. 4287 was intended to require cash from Santee Cooper. After some grand standing, Santee Cooper agreed to pay. There may be no better reason to consider selling Santee Cooper other than to get it away from the control of the South Carolina General Assembly.

Rod Funderburk & Jim Clarkson Resource Supply Management