COLUMBIA, S.C. (AP) - The South Carolina Senate has decided to allow a state agency to seek offers to sell state-owned utility Santee Cooper.
Lawmakers voted 42-1 Thursday for the bill’s passage after several days of debate.
The proposal would require the Department of Administration to establish a competitive bidding process of the utility’s sale and solicit bids with the assistance of experts. It also will solicit management proposals from companies that will not include the sale of Santee Cooper but to “improve the efficiency and cost-effectiveness” of its electric operations.
Santee Cooper will also have the opportunity to submit future operational plans in case lawmakers decide not to approve the sale under the proposed legislation.
A final recommendation would be given to members of the General Assembly after the department evaluates all offers.
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