MONCKS CORNER, S.C. – The Santee Cooper Board of Directors approved a $2.9 billion budget for 2013 today at its regular monthly meeting.
The 2013 budget includes $2 billion for the electric system, $7.7 million for the water systems and $933.7 million for capital expenditures.
Approximately 53 percent of the $2 billion electric system budget is allocated for fuel and purchased power. Budgeted costs for the fuel necessary to generate electricity and supplemental purchased power total slightly over $1 billion, with the remaining dollars allocated to all other costs necessary to operate the utility.
“We are taking advantage of the lower prices of natural gas by purchasing more gas-fired electricity where it costs less for our customers,” said Lonnie Carter, Santee Cooper president and CEO. “More than ever, flexibility is key for us as we navigate through rising fuel and transportation costs and increasing government regulation. We are continuing to balance options and hold the line on all the costs that we can.”
The $933.7 million for construction and capital equipment expenditures includes:
• $683.7 million for construction of new nuclear generating
• $41.4 million for renewable generation and environmental control improvements
• $208.6 million for the transmission and distribution systems and system-wide improvements
Santee Cooper is South Carolina’s state-owned electric and water utility, and the state’s largest power producer. The ultimate source of electricity for 2 million South Carolinians, Santee Cooper is dedicated to being the state’s leading resource for improving the quality of life for the people of South Carolina. For more information, visit www.santeecooper.com.