S 0771 Joint Resolution, By Setzler, Massey and Fanning
 A JOINT RESOLUTION TO REQUIRE A VALUATION OF THE SOUTH CAROLINA PUBLIC SERVICE
 AUTHORITY.

   12/06/17  Senate Prefiled
   12/06/17  Senate Referred to Committee on Judiciary
   01/09/18  Senate Introduced and read first time (Senate Journal-page 43)
   01/09/18  Senate Referred to Committee on Judiciary
                     (Senate Journal-page 43)

TO REQUIRE A VALUATION OF THE SOUTH CAROLINA PUBLIC SERVICE AUTHORITY.

Whereas, the South Carolina Public Service Authority is a state-owned public utility; and

Whereas, the South Carolina Public Service Authority and South Carolina Electric and Gas jointly own Units 2 and 3 at the V.C. Summer Nuclear Facility in Fairfield County; and

Whereas, these companies decided to abandon the project, resulting in the loss of roughly nine billion dollars, ten years of construction, and countless jobs, but are still charging ratepayers for the project; and

Whereas, the General Assembly has been investigating what led to the abandonment and ways to recover costs; and

Whereas, it is now important to understand the value of the South Carolina Public Service Authority. Now, therefore,

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    The General Assembly shall hire an independent industry expert to conduct a valuation of the South Carolina Public Service Authority. These reports must be provided to the President Pro Tempore of the Senate and the Speaker of the House of Representatives.

SECTION    2.    This joint resolution takes effect upon approval by the Governor; however, the implementation of the valuation is contingent upon receipt of funds necessary to implement these provisions.