I’m not sure I trust Queen Jean to do the right thing, although she has surprised me in the past. She is also known as a hard drinker.
--FT Sent from iPhone > On Mar 18, 2020, at 2:39 PM, Andrew Strasfogel via Mercedes > <mercedes@okiebenz.com> wrote: > > UTILITIES > Judge approves $520M settlement in Santee Cooper lawsuit > > Published: Wednesday, March 18, 2020 > > A South Carolina judge gave preliminary approval yesterday to a $520 > million settlement that would provide refunds to Santee Cooper utility > customers who were charged increased rates for a failed nuclear > construction project. > > Judge Jean Toal gave an initial approval to the settlement yesterday, a big > first step to ending a long-standing dispute between Santee Cooper and its > customers, who filed a class-action lawsuit against the state-owned > utility, news outlets reported. > > The project racked up $4 billion in debt before Santee Cooper pulled out of > its minority stake in the V.C. Summer nuclear expansion in July 2017. > > Since the project started more than a decade ago, Santee Cooper increased > rates five times to fund the expensive project to build two nuclear-powered > electric generators in Jenkinsville, about 25 miles northwest of Columbia. > Santee Cooper was the junior partner on the project with the now former > Cayce-based SCE&G, which was acquired by Dominion Energy Inc. in January > 2019. > > After spending billions of dollars, Santee Cooper and SCE&G shut down the > project before any power was generated because of the rapidly escalating > costs. > > The preliminary settlement would refund some power costs paid by Santee > Cooper customers and about 2 million South Carolina residents who get their > power from electric cooperatives that use the utility's energy. > > Santee Cooper also could not raise electric rates for four years. > > The state Legislature is currently trying to decide whether it should > reform Santee Cooper or sell it. > > A final approval hearing is scheduled for July 20. *— Associated Press* > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
