South Carolina governor on committee to study utility sale

July 19, 2018 GMT

COLUMBIA, S.C. (AP) — South Carolina Gov. Henry McMaster is stepping up efforts to sell a state-owned utility that was the minority partner in the abandonment of the construction of two nuclear reactors last year.

News outlets reported McMaster has appointed himself to a nine-member committee that will study whether South Carolina should sell Santee Cooper, which accumulated $4 billion in debt in the failed project.

McMaster has been pushing for the sale of the utility since the project failed last summer. He says it’s a way for Santee Cooper to pay its nuclear debt and protect customers.

The committee includes four state senators and four House members. The panel has not set its first meeting yet.

The other partner, South Carolina Electric & Gas Co., is attempting to merge with Virginia-based Dominion Energy.