Santee Cooper Board Sets 2024 Budget
MONCKS C ORNER, S.C. – The Santee Cooper Board of Directors today approved $1.2 billion in spending for 2024, including $556 million in non-fuel operations and maintenance costs and $665 million in capital spending for 2024, as part of its annual budget review for the utility.
Santee Cooper’s total 2024 budget also includes $826 million for fuel and purchased power and $434 in debt service payments, which do not require Board approval. The budget includes the state-owned utility’s annual payment to the state, which is $19 million for 2024.
The $665 million for construction and capital equipment spending includes:
$205 million primarily for environmental projects.
$461 million for the transmission and distribution systems and system-wide improvements.
“This budget reflects Santee Cooper’s focus on maintaining excellent system reliability and affordability, while also addressing robust growth across South Carolina and the future needs accompanying that growth,” said Santee Cooper President and CEO Jimmy Staton.
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.