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SC utility won't be sold at 'fire sale price' say legislators

Associated Press - COLUMBIA, S.C. (AP) - South Carolina legislators are emphasizing only the General Assembly can sell a state-owned utility, and it makes no sense to do so at a "fire sale price" following the abandonment of a multibillion-dollar nuclear power project.

Gov. Henry McMaster is negotiating with power companies to buy all or part of Santee Cooper. McMaster says he wants a buyer to either complete one of both of the partially built reactors or refund customers the billions they've sunk into the scuttled project.

In a joint letter to McMaster, House Speaker Jay Lucas and Senate President Pro Tem Hugh Leatherman wrote Wednesday any sale of Santee Cooper must be in the "best and most fiscally responsible choice for South Carolina."

They say no offers will be accepted until Santee Cooper's value is evaluated.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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