A contract extension that will save billions of dollars and that affects 2 million South Carolinians was signed this week by both Central Electric Power Cooperative and Santee Cooper. The agreement secures long-term cost savings for co-op members as well as for wholesale and industrial customers and calls for a collaborative approach between the electric cooperatives and Santee Cooper.”Today’s signing puts in place significant changes that will help make our two organizations partners in power supply planning and delivery,” says Ron Calcaterra, CEO of Central Electric Power Cooperative. The contract secures billions in cost savings and governs how Central and Santee Cooper will work together.
Central Electric Power Cooperative is the wholesale electricity aggregator for 20 S.C. electric co-ops. Central also has purchase agreements with Duke Energy, the Southeastern Power Administration and SCE&G. The 45-year term of this agreement provides stability that will lead to lower interest on debts, which in turn keeps power costs lower, said Santee Cooper President and CEO Lonnie Carter.