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Santee Cooper Report Pursuant to Act 95

Click here for the report.

Updated February 17, 2020 at 5:00 p.m.:

Pursuant to Section 8 of Act 95, the General Assembly has explicitly limited the Department of Administration’s authority to disclose information related to the process established by the Act. Specifically, once the Department has provided the General Assembly with the recommendations of the Professional Service Experts (the report containing the recommendations and all exhibits to the report were provided as required by Act on February 11, 2020), only information regarding those particular recommendations shall be released in accordance with the Freedom of Information Act. However, the General Assembly has specifically prohibited the Department from releasing information described in Section 30-4-40 (Matters exempt from disclosure) of the South Carolina Code of Laws without the written permission of the entity whose bid or proposal was recommended. Accordingly, the Department has no authority to release any such documents without the written permission of Santee Cooper, Dominion Energy Inc. and NextEra Energy, Inc. The Department has requested written permission from the three entities to release their submissions.  The Department has received written permission from Santee Cooper and Dominion to release their complete submissions. The Department has received written permission from NextEra to release: NextEra’s Sale Proposal Cover Letter, dated February 7, 2020, including Exhibits 1 through 8 attached thereto (Exhibit C in the report’s table of contents); and NextEra’s Sale Proposal Enabling Legislation (a portion of Exhibit C.1 in the report’s table of contents), dated February 7, 2020 (Link to Authorization to Publicly Release Certain Bid Documents letter). NextEra has advised the Department that they are continuing to review the exhibits to determine other documents that may be released. This site will be updated when additional information is released.

Updated February 17, 2020 at 6:30 p.m.:

On February 17, 2020, at 6:30 p.m. NextEra granted the Department permission to publicly release exhibits C.1, C.2, C.3 and C.4 and Appendix A (Legislative Requirements). The disclosure schedules in C.1 are unavailable for release because they will not all be completed unless and until the General Assembly determines to sell Santee Cooper.

Updated February 18, 2020 at 6:30 p.m.:

The Boyette Santee Cooper Impact Evaluation & Analysis Report was posted to the website.

Link to Boyette Impact Evaluation & Analysis Report

Report Exhibits

Exhibit A - Reform Plan

Exhibit B - Dominion Management Proposal

     Exhibit B.1 Dominion Management Agreement

     Exhibit B.2 Dominion Agreement to Transact (incl. Escrow Agreement)

     Exhibit B.3 Dominion Opinion Letters

Exhibit C - NextEra Sale Bid (Link to Proposal Cover Letter) / Appendix A – Legislative Requirements

     Exhibit C.1 NextEra Asset Purchase Agreement 

     Exhibit C.2 Proposed Revised Power Purchase Agreement 

     Exhibit C.3 NextEra Agreement to Transact (incl. Escrow Agreement) 

     Exhibit C.4 NextEra Opinion Letter 

Exhibit D - Extension Letter from the Department to the General Assembly

Exhibit E - Teaser

Exhibit F - Process Letter