Democrats question
study of Santee Cooper utility
By JAMES D.
McWILLIAMS Staff
Writer
Democrats and Gov. Mark Sanford traded jabs Tuesday over whether
the Republican governor intends to sell the state-owned Santee
Cooper utility.
S.C. Democratic Party chairman Joe Erwin and some Democratic
lawmakers accused Sanford of practicing “deception” and of taking
secret steps toward selling the utility.
Sanford attended the Democrats’ morning news conference, then
called reporters over afterward to reply.
The sparring occurred as lawmakers from both parties continued
pushing legislation to limit Sanford’s power over Santee Cooper’s
board. A bill backed by Senate President Pro Tem Glenn McConnell,
R-Charleston, moved closer to final Senate passage this week.
Erwin said Sanford’s intentions are revealed by a recent research
contract under which Santee Cooper is paying an investment bank to
gauge a potential sale price for the utility.
Santee Cooper spokeswoman Laura Varn declined to answer questions
about the purpose of the study because it was initiated by Sanford’s
office.
Sanford walked in on Erwin’s news conference and stood about six
feet from the lectern. Erwin took the opportunity to hand Sanford a
Freedom of Information Act request asking for details about the
contract to study Santee Cooper.
“Governor Sanford should not have misled us, and now he needs to
come clean,” Erwin said. Handing Sanford the request, he added, “You
saved me some postage.”
Sanford later told reporters that he does not intend to sell
Santee Cooper, but that he needs to know its market value to
understand the utility’s efficiency.
Sanford said Santee Cooper might need to sell unproductive
assets, cut expenses and perhaps contribute more money to state
government than the 1 percent of yearly revenue the utility now
contributes.
Santee Cooper supplies electricity to 40 percent of the state’s
residents, either directly or through electric cooperatives.
Sanford said questions about his motives are part of a “struggle
between the executive branch and the legislative branch” over how
government should operate.
Partisan politics were injected into that struggle when Erwin
delivered his information request on Democratic Party letterhead,
Sanford said.
The conflict has turned some state residents against Sanford, he
acknowledged. “I would boo me, too, if I’d gotten (the) level of
misinformation” critics are spreading, the governor said.
Sanford disclosed some details about the study of Santee Cooper.
The governor said his administration chose the Credit Suisse First
Boston LLC bank to conduct the study.
He said the choice was made with input from S.C. first lady Jenny
Sanford, a former investment banker. Sanford said his wife was
involved in choosing the bank because her prior work experience gave
her insights that his administration lacked.
Sanford said any effort to sell Santee Cooper would require
public hearings in the General Assembly.
Reach McWilliams at (803) 771-8308 or jmcwilliams@thestate.com. |