Santee Cooper has agreed to a $2 million settlement in lying to bond holders.

That's far less than the $137.5 million settlement its partner SCANA - now Dominion Energy - must pay in their failed nuclear project.

Santee Cooper CEO Mark Bonsall told his board they made a deal with bond investors' attorneys.

Mollie Gore of Santee Cooper said a federal judge must approve the deal.

“Our new leadership continues to make progress on greatly reducing legal expenses, paying down our debt and returning money to customers,” she said.

Critics have asked how Santee Cooper is saving money with mounting legal costs.

It’s unclear how much of the $2 million will go to bond holders and how much to attorneys.