South Carolina lawmakers unanimously approved nearly $700 million in bonds for Santee Cooper to fund infrastructure upgrades and a new natural gas plant in Colleton County. The funds support early construction at Canadys Station, a joint project with Dominion Energy on a former coal site, projected to generate 2,000 MW by 2033 and power about 500,000 homes.​
Key Project Allocations
- $120 million for Canadys site preparation and equipment in Colleton County.​
- $123 million for new turbines at the Georgetown County plant.​
- $272 million to convert and expand capacity at the Anderson County plant.​
These investments form part of Santee Cooper’s $10 billion, 10-year plan to meet growing electricity demand in South Carolina.​
Funding and Customer Impact
Bonds are revenue-backed by the utility, not taxpayers, with costs passed to ratepayers through manageable increases aimed at or below inflation. CEO Jimmy Staton emphasized reliability amid state growth, though some customers fear subsidizing industrial users. The project leverages existing infrastructure for efficiency and economic benefits like jobs and tax revenue.
