Powering a Reliable and Sustainable Future
2024 Rate Study
Santee Cooper is considering rate changes, and we have launched a public comment process that gives customers and others the chance to review and provide input on the proposed changes. Our Board is evaluating our proposed rate adjustments, and we want your feedback.
- We need to invest in the electric system to maintain the high system reliability you expect and deserve and to comply with new regulations related to the environment, grid operations and security.
- Inflation has outgrown our ability to manage it, and revenues from current rates will not cover our expenses in 2025.Our rates have been flat since 2017, but inflation has increased 25% in that time. We have cut budgets ($100 million total), refinanced debt (saving customers $765 million over time), strategically reduced our headcount, and taken other steps to address rising prices.
Proposed Rate Adjustment
Santee Cooper is proposing a rate adjustment, which would take effect in April of 2025, that will impact residential, commercial, industrial, solar and lighting customers. A detailed explanation of the rate proposal is available here.
Customer Impacts
Customers use electricity in different ways. Click on your customer class below to learn how the proposed rates could impact you.
How You Can Get Involved
Santee Cooper’s residential, commercial, industrial, municipal light and power, and certain wholesale customers have the right to review the proposed rate schedules; appear and speak in person concerning the proposed rates at public meetings or the specified meetings of the Board of Directors; and submit written comments.
Santee Cooper has provided for the above via a formal comment period with the following deadlines:
- Deadline Extended to Sept. 13, 2024: Deadline for submission of written comments.
- Oct. 8, 2024: Deadline for oral comments at the Board of Directors meeting.
Santee Cooper will respond to reasonable questions and requests for information that we have received by the end of the oral comment period on Oct. 8, 2024.
LEARN MORE
Documents and Information
Board Approves Review of Proposed Rates Press Release – June 10, 2024
Management’s Rate Recommendation Presentation to Board – June 10, 2024
Rate Study Report – June 10, 2024
2024 Rate Study Supplemental Report – June 10, 2024
Rate Study Board Approval Press Release – June 20, 2023
Rate Study Presentation to the Board – June 20, 2023
Customers can request information from Santee Cooper here.
Public information provided to the South Carolina Office of Regulatory Staff is available here.
Frequently Asked Questions
Santee Cooper has typically maintained rates that have been lower than the other large utilities in South Carolina, and we intend to stay that way. In fact, in 2023, the average bill for a typical residential customer of the state's three, large investor-owned utilities was 32% higher than Santee Cooper's average residential bill.
Inflation is a major reason that we’ve now reached the point where our current rates won’t support the investments we need to make to continue providing reliability that is among the best in the country and to comply with new regulations related to the environment, grid operations and security.
Santee Cooper already has employed a number of cost-saving measures. For example, in 2022 alone, we achieved budget reductions of $30 million in non-fuel O&M and $70 million in capital, and we refinanced more than $2 billion in debt, which took advantage of low interest rates and saved customers around $765 million.
To learn more about how your rate is changing, click on your rate class below.
ResidentialCommercialIndustrialSolarLighting
Electricity is flowing constantly to supply power to our homes and businesses. The demand for this electricity is defined by how much is being used at any given time. The more electricity people are using at the same moment, the higher the demand. Learn more on our blog and by viewing our video.
It is our job at Santee Cooper to make sure we always generate enough electricity to supply all our customers, no matter how many appliances or heating/cooling systems are being used at one time. We must be able to generate enough power whenever it’s needed – regardless of the demand.
Watch VideoTo learn more about your demand, click on your rate class below.
ResidentialCommercialIndustrialSolarLightingTo learn more about how the proposed rates will impact your bill, click on your rate class below.
ResidentialCommercialIndustrialSolarLightingTo learn more about how you can reduce your bills, click on your rate class below.
ResidentialCommercialIndustrialSolarLightingIf approved, the rate increase will go into effect on April 1, 2025.
Santee Cooper has not increased our electric rates since April of 2017. We’ve now reached the point where our current rates won’t support the investments we need to make to modernize the system and continue providing reliability that is among the best in the country.
Santee Cooper’s residential, commercial, industrial, municipal light and power, and certain wholesale customers have the right to review the proposed rate schedules; appear and speak in person concerning the proposed rates at public meetings or the specified meetings of the Board of Directors; and submit written comments.
Learn MoreSantee Cooper is a not-for-profit public power utility owned by the State of South Carolina and does not have shareholders.