trending Market Intelligence /marketintelligence/en/news-insights/trending/2n1aVXxokJcF6eJPueUzjA2 content esgSubNav
In This List

Report: New potential buyers emerge for Santee Cooper

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Report: New potential buyers emerge for Santee Cooper

A South Carolina investment company and Washington, D.C.-headquartered Twenty First Century Utilities LLC may team up to purchase state-owned utility Santee Cooper, The (Charleston, S.C.) Post and Courier reported.

Pacolet Milliken Enterprises Inc. was approached by the Washington power firm to look into the sale of Santee Cooper, known legally as South Carolina Public Service Authority, according to the Dec. 18 report. Pacolet Milliken, described as a "private, family owned investment company" founded by shareholders of textile and chemical manufacturer Milliken & Co., verified the conversations to S&P Global Market Intelligence through an outside public relations firm.

"Pacolet Milliken was approached by Twenty First Century Utilities to explore options related to the potential sale of Santee Cooper," Richard Webel, president of Pacolet Milliken Enterprises, said in a written statement. "Conversations have been merely exploratory at this point. No proposals have been offered nor have any negotiations taken place. No response to the overture to us will be made until we have done our due diligence to carefully review the concept."

Pacolet Milliken owns small South Carolina utility Lockhart Power Co. Twenty First Century Utilities did not immediately respond to a request for comment.

South Carolina's governor has been pushing the sale of Santee Cooper in the wake of the V.C. Summer nuclear abandonment.

Gov. Henry McMaster has identified Duke Energy Corp., Dominion Energy Inc. and Southern Co. as companies his office is in discussions with about buying Santee Cooper or acquiring the utility's portion of the scrapped reactors. NextEra Energy Inc. also is believed to be in the mix with The Post and Courier reporting that Berkshire Hathaway Inc. subsidiary Berkshire Hathaway Energy has pulled out of consideration.

NextEra did not immediately respond to a request for comment, while Duke Energy, Dominion and Southern have not publicly acknowledged their interest in Santee Cooper.