Santee Cooper Board to Vote on Rate Hike Plan

The South Carolina utility board will meet October 30 to consider a proposed 6.6 percent rate increase.

Updated on Oct. 29, 2026 in Utilities

Bold flat-color editorial illustration of a geometric utility transformer on a pole, representing utility rate policy. — The Santee Cooper governing board meets October 30 to vote on a proposal to increase electricity rates by 6.6 percent. AI Illustration. Upload story photo >

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Do you support your local utility increasing rates to fund system maintenance and reliability?

The Santee Cooper governing board convenes on October 30 to decide on a proposed rate structure that would raise costs by an average of 6.6 percent over two years. The utility cites rising material costs and increased customer demand as the primary drivers for the hike.

Why it matters

The proposed increase aims to secure funding for critical system investments that the utility claims are necessary to maintain operations. These adjustments follow a period of growth that saw the addition of 17,000 retail customers over the last three years.

Santee Cooper reported $538 million in revenue during 2025. The utility received over 300 written comments from the public regarding the proposed rate adjustments.

The players

Santee Cooper

Santee Cooper is South Carolina's state-owned electric and water utility that provides power to residential and commercial customers.

Jimmy Staton

Jimmy Staton serves as the CEO of Santee Cooper and receives an annual salary of $1.25 million along with a performance bonus.

The details

The utility is simultaneously pursuing cost mitigation efforts, including expansion projects for battery storage and natural gas infrastructure. These investments are intended to offset inflationary pressures impacting materials and infrastructure maintenance.

May 2026: Santee Cooper announced proposed rate hikes.
August 31, 2026: Public hearing held in Myrtle Beach.
October 30, 2026: Board vote on rate hike plan.
February 1, 2027: First round of rate increases takes effect.
February 1, 2028: Second round of rate increases takes effect.

Market Landscape

Santee Cooper's rate proposal mirrors a national trend where utilities requested $18.6 billion in rate increases during 2026 alone. This follows a larger industry trajectory toward massive infrastructure investment, with investor-owned firms projected to spend $1.4 trillion by 2030.

If approved, South Carolina utility customers will face an average rate increase phased in starting February 2027 and continuing into 2028. Residents should prepare for potential changes to their monthly electricity budgets as these adjustments are implemented.

The takeaway

Understanding the utility's expansion plans, including natural gas and battery storage, can help residents anticipate how capital investments impact local rates. Customers are encouraged to track the outcomes of board votes to better manage household energy expenses.