Powering a Reliable and Sustainable Future
2024 Rate Study
Santee Cooper is considering rate changes and has launched a months-long public comment process so that customers and others can review and provide input on the proposed changes.
Santee Cooper needs to invest in its electric system to maintain excellent reliability for customers and to make significant system updates required by new regulations. These activities will lead to increased costs, and Santee Cooper has not increased our electric rates since April of 2017.
Meanwhile, inflation has skyrocketed. When inflation is combined with investments necessary to comply with regulations related to the environment, grid operations and security – all while continuing to provide reliability that is among the best in the country – Santee Cooper is pressed into a position where current rates won’t provide enough funds to meet our costs.
This is why we are proposing to our Board of Directors an average 4.9% base rate increase that, if approved, would take effect in April of 2025. That average of 4.9% is far less than the 25% increase in inflation since we last raised our rates. Our Board is evaluating our proposed rate adjustments, and we want your feedback. More information on how you can get involved is below.
A Message From Our CEO
Santee Cooper's President and CEO Jimmy Staton discusses the pressures of inflation and the need for system investments as drivers for proposed new rates and how customers can be involved by providing feedback on those proposed rates.
Proposed Rate Adjustment
Santee Cooper is proposing a system average 4.9% rate increase that, if approved, would take effect in April of 2025. Specific recommendations by customer class include a proposed 8.7% increase for residential customers, a proposed 4.1% increase for commercial customers, a proposed 5.0% increase for lighting customers, and a proposed 2.8% increase for industrial customers.
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:
- Sept. 9, 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.