The League of Women Voters is a nonpartisan political organization encouraging informed and active participation in government. It influences public policy through education and advocacy.
A SC House Committee will hold a public hearing on energy financing by private utilities. Most South Carolinians should take a very personal interest in this meeting because the law in question significantly affects the size of the check that must be written every month to pay utility bills.
Why is the League interested in this issue and a member of the STOP THE BLANK CHECK Coalition?
In 2006 the Base Load Review Act (BLRA) was passed to enable utility companies to build major energy generation facilities while saving financing costs. The problem with the law as written is that cost over runs (and there are always construction overruns) are passed automatically to the ratepayers and not the stockholders. Therefore, there is no incentive to use good management practices. In the only project governed by the BLRA since its passage, SCE&G construction costs of two nuclear plants in Fairfield County are about 20%, $2.6 billion, over the original approved budget.
The League will be at the hearing to work with our elected officials to insure that the law is amended to balance the interests of utilities and ratepayers fairly and responsibly.
Go to the SC General Assembly web page to find your legislators to tell them to STOP THE BLANK CHECK.