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Santee Cooper outlines $10.1 billion capital plan, projects higher state payment
Summary
Santee Cooper presented a $10.1 billion capital investment plan covering transmission, generation upgrades and new generation and said it expects to increase its payment to the state by about 19% to roughly $26.8 million compared with 2025.
Tammy Wilson, chief financial officer at Santee Cooper, told the committee the state‑owned utility remains financially stable with investment‑grade ratings and presented a multi‑year capital plan totaling about $10.1 billion. Wilson said the plan includes approximately $2.7 billion for transmission upgrades, $1.0 billion for existing generation assets and about $5.0 billion for new generation projects, and that several generation and battery projects are expected to come online within three years.
Wilson said projected 2026 revenue is about $2.7 billion and that Santee Cooper plans to increase payments to the state by roughly 19% from 2025 levels, which the agency estimated at approximately $26.8 million for the coming period. She said the utility is working to keep rates competitive and to manage debt metrics amid the capital program.
Committee members thanked Santee Cooper for the briefing and had no immediate appropriation questions; the presentation served as a financial update for the subcommittee.
