Industry News

Santee Cooper Board of Directors approves $2.5 billion 2010 budget

Moncks Corner, December 14, 2009 - The Santee Cooper Board of Directors approved a $2.5 billion budget for 2010 at its regular monthly meeting. The board also approved the 2011 and 2012 budgets for planning purposes.

The 2010 budget includes $1.91 billion for the electric system, $6.5 million for the water systems and $584.2 million for capital expenditures.

“This budget allows us to fulfill our role to provide affordable, reliable and environmentally protective electricity, and by doing so we fulfill our mission to improve the quality of life for all people in South Carolina,” said Lonnie Carter, Santee Cooper president and chief executive officer.

More than half of the $1.91 billion operating and maintenance budget is allocated for fuel and purchased power. The fuel necessary to generate electricity and supplemental purchase power totals $978 million, with the remaining dollars allocated to all other operating and maintenance costs necessary to operate the utility.

The $584.2 million for construction and capital equipment expenditures includes:

  • $331.2 million for construction of new nuclear generating facilities
  • $27 million for renewable generation, environmental control improvements and recycling of combustion byproducts  
  • $68.6 million for transmission improvements
  • $37.5 million for distribution improvements
Santee Cooper is South Carolina’s state-owned electric and water utility, and the state’s largest power producer, supplying electricity to more than 163,000 retail customers in Berkeley, Georgetown, and Horry counties, as well as to 31 large industrial facilities, the cities of Bamberg and Georgetown, and the Charleston Air Force Base. Santee Cooper also generates the power distributed by the state’s 20 electric cooperatives to more than 700,000 customers in all 46 counties. Approximately 2 million South Carolinians receive their power directly or indirectly from Santee Cooper. The utility also provides water to 137,000 consumers in Berkeley and Dorchester counties, and the town of Santee. For more information, visit www.santeecooper.com .

For More Information Contact
Mollie Gore
Corporate Communications
843-761-7093
mrgore@santeecooper.com
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