Carter: Santee Cooper finances solid

  • Wednesday, May 22, 2013

Frank Johnson/Independent -- Santee Cooper CEO Lonnie Carter takes stock during Sunday’s dinner.

Santee Cooper CEO Lonnie Carter told company employees and area political and civic leaders that their public utility company is in good financial shape.
Carter’s words came during Santee Cooper’s annual Berkeley County Appreciation Dinner held in Pinopolis Sunday.
“Santee Cooper is in good financial shape,” Carter said. “We are in good shape and we’re taking steps to make sure we continue to experience long term growth.’
Carter addressed a gather of more than 250 invited guests at the Wampee Conference Center.
“Stability is important in a company,” he said. “We have a stable board and have taken steps to make sure we’re providing South Carolina with quality energy for the next 75 years.”
Carter mentioned the opening of the two nuclear power plants in Jenkinsville that will go online in 2017.
“Last week we poured the first nuclear concrete in the U.S. in more than three decades,” he said. “What we are doing now is something that will provide South Carolina quality energy for the next 75 years.”
On Monday, Santee Cooper was to sign an extension on the working agreement with all of South Carolina’s electric co-ops. The current agreement expires in 2030, but according to Carter this extension will be good through the year 2058, and will provide a savings of $75 million annually for the utility company.
“This is the kind of long term stability investors and businesses like to see,” Carter said. “And it’s been a long time coming.”

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