Santee Cooper Board approves Turka settlement

MONCKS CORNER, S.C. –The Santee Cooper Board of Directors today approved a settlement agreement in the case of Murray C. Turka et al v. South Carolina Public Service Authority et al . The agreement resolves Plaintiffs’ claims related to certain minibonds and authorizes management to execute the settlement agreement, which will then be submitted to the U.S. District Court to consider approval.

The settlement, for $2 million plus up to $35,000 for costs of class administration, provides a release from the Plaintiffs related to minibonds that Santee Cooper issued from 2014 to 2016.

For more than 90 years, Santee Cooper has been serving the people of South Carolina. The utility is South Carolina’s largest power provider and the ultimate source of electricity for 2 million people across the state. Through its affordable, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper helps power South Carolina. To learn more, visit www.santeecooper.com and follow #PoweringSC on social media.

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