MONCKS CORNER, S.C. (AP) — South Carolina's state-owned utility has approved an almost $3 billion budget including more than $930 million for construction and capital expenditures.
The Santee Cooper Board of Directors approved the new spending plan at its meeting on Monday.
About $2 billion in the budget goes to electric generation with half that the cost of fuel or power purchased from other utilities.
More than $680 million of the capital expenditure budget is going to building new nuclear generating capacity. Santee Cooper and South Carolina Electric & Gas are building two new nuclear reactors at an existing nuclear plant near Jenkinsville in the Midlands.
More than $40 million of Santee Cooper's capital expenditures are for renewable power generation and emission improvements. Almost $210 million is being used to improve power transmission.