Competition can lower Lexington County ratepayers’ electricity costs.

Century Aluminum negotiated a 2-year contract with taxpayer-owned Santee Cooper to allow its Goose Creek plant to buy 75% of its power elsewhere.

Century Aluminum had threatened to shut down the plant, the Charleston Post and Courier reported.

Century wants to buy all its power elsewhere.

Because Santee Cooper is state owned and not a regulated company like SC Electric & Gas, it only answers to its board, not the Public service Commission.

Some would say that isn’t much different since the PSC has given SCE&G almost everything it wanted.

Being unregulated makes this kind of a deal possible for Santee Cooper, said Jim Clarkson of Resource Service Management, a consultant to companies aiming to lower their power costs.

Clarkson said industries in other states have reduced their power costs by buying from third parties instead of the local utility.

This won’t work in Lexington County where state law gives SCE&G a monopoly.

Prysmian Cables tried to negotiate a deal with SCE&G to let it buy some of its power from Mid-Carolina Electric at a lower cost.

Unlike Century Aluminum, Prysmian did not threaten to close its Lexington operations when it bought a North Carolina competitor.

Prysmian sources have told the Chronicle the company could move its Lexington operations there for cheaper power rates.

Attempts to allow regulated utilities to provide this service in both Carolinas have been rejected.