Santee Cooper Board approves 2019 Budget
MONCKS CORNER, S.C. – The Santee Cooper Board of Directors approved today a $2.1 billion budget for 2019. The 2019 budget includes $1.7 billion for the electric system, $9.9 million for the water systems and $296.9 million for capital expenditures.
Approximately 40 percent of the $1.7 billion electric system budget is allocated for fuel and purchased power. The Board also approved the 2020 and 2021 budgets for planning purposes.
The $296.9 million for construction and capital equipment spending includes:
- $115.6 million primarily for environmental projects
- $181.3 million for the transmission and distribution systems and system-wide improvements
“With this 2019 budget, Santee Cooper will continue to provide reliable, competitively priced electricity and maintain a strong financial position and credit ratings, all without a rate increase,” said Interim President and CEO Jim Brogdon. “This reflects our ongoing commitment to hold the line on costs to benefit our customers and the state of South Carolina.”