The Santee Cooper Board of Directors on Dec. 4 approved $1.2 billion in spending for 2024, including $556 million in non-fuel operations and maintenance costs and $665 million in capital spending for 2024, as part of its annual budget review for the utility.
Santee Cooper’s total 2024 budget also includes $826 million for fuel and purchased power and $434 million in debt service payments, which do not require Board approval. The budget includes the state-owned utility’s annual payment to the state, which is $19 million for 2024.
Santee Cooper is the state-owned public power utility in South Carolina.
The $665 million for construction and capital equipment spending includes $205 million primarily for environmental projects and $461 million for the transmission and distribution systems and system-wide improvements.
“This budget reflects Santee Cooper’s focus on maintaining excellent system reliability and affordability, while also addressing robust growth across South Carolina and the future needs accompanying that growth,” said Santee Cooper President and CEO Jimmy Staton.
Meanwhile, as part of Santee Cooper’s commitment to support community needs across South Carolina, the utility approved four property transactions at its Board meeting with specific public benefits.
Santee Cooper approved two transactions in Horry County: dedicating the former Grainger Generating Station site to the City of Conway to support downtown redevelopment, and providing a gratis lease to the Grand Strand Humane Society to enable expansion of that important organization.
Santee Cooper also renewed gratis leases for the Berkeley County Emergency Management Services Training Center in Moncks Corner and for Taw Caw Park in Clarendon County.
All of these transactions except for the Taw Caw lease require approval by the state Joint Bond Review Committee.
