Santee Cooper has scrapped plans to raise electricity rates for customers, hikes that were meant to help bankroll an over-budget and now-abandoned nuclear expansion project in Fairfield County.
Mike Couick, director at the Electric Cooperatives of SC, was encouraged by Santee Cooper's decision but said he needs to look more carefully at the board's action.
The utility would have had to raise electricity rates 41 percent had it not given up building two more nuclear reactors at the V.C. Summer site near Jenkinsville, chief executive officer Lonnie Carter estimated.
Santee Cooper will host meetings in the upcoming weeks to share information on why the utility company chose to suspend the Summer plant expansion. Dates and times for those meetings have not been finalized.
NTSB: 1 dead, 2 injured in New Milford plane crash The FAA will investigate and the National Transportation Safety Board will determine the probable cause of the crash. A small plane has crashed in western CT , killing one person and injuring two others.
The state-owned electricity provider had been considering price hikes of 3.5 percent and 3.9 percent in 2018 and 2019 to help pay for the expansion. Those rate increases were needed to meet additional expenses related to the nuclear project, declining load, other system improvements and environmental compliance.
Gov. Henry McMaster said this week that he was in talks with three other Southeast utilities about selling Santee Cooper entirely or its 45 percent stake in the failed V.C. Summer expansion. "We will tighten our belts and continue to look for ways we can be more efficient to make up the balance. It is important that we hold the line on costs, and Santee Cooper's talented and dedicated workforce will rise to the occasion". Power from Santee Cooper that goes to electric cooperatives is sold wholesale, so any increase in wholesale rates can affect cooperative customers. The settlement will be paid in installments beginning in October 2017 and ending in September 2022. Santee Cooper's analysis of costs and schedule following Westinghouse's bankruptcy showed the cost to complete both units would be $11.4 billion including interest. The utility had planned to increase rates by 3.7 percent over that span.
But on July 31, though, Santee Cooper and SCE&G abandoned plans to build the two reactors, about eight years and $9 billion into the project. The increase makes the project uneconomical.
The city of Georgetown purchases power from Santee Cooper for its city-owned electric utility.
Primark have been smashing the themed collections in recent months, with Beauty And The Beast merchandise selling the fastest. If you're a diehard Harry Potter fan, or you just love a new set of PJs then you're guaranteed be totally obsessed.
Legato Capital Management LLC acquired a new position in shares of Oclaro during the second quarter worth approximately $417,000. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03.
It dropped, as 86 investors sold BMY shares while 529 reduced holdings. 126 funds opened positions while 468 raised stakes. Staley Capital Advisers added additional shares of Bristol-Myers Squibb by 0.3% in the Q1. (NASDAQ:CA) for 647,681 shares.
Despite the progress, Kimmel revealed that Billy will still have to undergo two more open heart surgeries. At that point, I knew there was nothing I could do. "I would love to talk to him about this", Kimmel said.
Intel will be using different brands and vehicle types for its tests to help demonstrate the "agnostic nature" of this technology. BMW , Nissan , and Volkswagen vehicles are likely test mules, because those carmakers already have a relationship with Mobileye .
TheStreet lowered the stock of Akorn from a "b-" recommendation to a "c" recommendation in a analysis report on Tue, Aug 1st. Finally, Louisiana State Employees Retirement System increased its position in shares of Akorn by 1.4% in the first quarter.
Trexquant Investment LP purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $706,000. Chicago Equity Partners Llc increased Ebix Inc (NASDAQ:EBIX) stake by 5,940 shares to 23,395 valued at $1.34M in 2016Q4.
Lord is a former Reagan administration staffer who is now a columnist for the conservative magazine The American Spectator . He even spoke to CNN's Brian Stelter on Thursday after he was sacked to say that he still loved the network.
Under the state Act of 1976, there was a ban on cow slaughter and possession and consumption of the meat. The police will also be able to enter people's homes to carry out searches, reported Times of India .
It dropped, as 46 investors sold EPD shares while 258 reduced holdings. 116 funds opened positions while 609 raised stakes. Ameriprise Financial Inc. increased its stake in shares of Enterprise Products Partners L.P.by 38.0% in the first quarter.
Miffed NCP skips meeting called by Sonia
Sharad Yadav on Thursday declared in Patna that he was still with the Grand Alliance of the RJD and the Congress in Bihar. NCP on Friday alleged that Congress is spreading lies in spite the fact that NCP voted for Ahmed Patel, reports ANI.
Usher Hooked Up With Accuser at the Days Inn?
Sharpton was at the concert - we know that because we found this pic of her with August Alsina , Usher's opening act at the venue. So far, no one from Usher's camp has responded to this latest claim.
Chile's Medel to join Besiktas from Inter
Medel joins Besiktas along with a huge wealth of other talent as the club look to continue their domination of Turkish football. The video reveals new signing Jeremain Lens calling a "middle man" in his attempts to bring Medel into the club.
Simon Property Group Inc
The firm owned 12,689 shares of the real estate investment trust's stock after selling 100 shares during the period. Mcf Ltd Limited Liability Company has invested 0% of its portfolio in Simon Property Group Inc (NYSE:SPG).
Spurs unveil new Nike and 'Icon' edition jerseys
Below you can see an in-depth breakdown of the jerseys, as well as a comparison to Houston's previous home and road jerseys. There will be four different jerseys for each team, with the other two editions to be revealed in the fall.