Peter McCoy vows transparency if approved to chair board of debt-saddled SC utility
Peter McCoy, South Carolina’s former U.S. attorney and former state House representative who took on the state’s public utility after it pulled out of the V.C. Summer nuclear project, was nominated Wednesday by Gov. Henry McMaster to chair the Santee Cooper board.
The governor called McCoy, 42, the right person to bring “much-needed transparency and accountability” to the board and to lead Santee Cooper “fairly and honestly,” as the General Assembly wrestles with whether to sell or reform the debt-saddled, state-run utility.
Santee Cooper provides electricity to about 2 million direct and indirect residential and commercial customers, bringing in billions of dollars a year.
“My preference is to sell Santee Cooper, but the status quo at Santee Cooper is unacceptable, even in the short term,” McMaster said. “The agency and its leadership have repeatedly displayed institutional arrogance and contempt for the state law and for the truth.
“I am confident that Peter McCoy will be a true change agent, and he will work to change the culture of closed door deals and secret contracts at Santee Cooper.”
McCoy will have to be confirmed by the state Senate, a process McCoy told reporters he is looking forward to.
“If I am fortunate enough and if I’m lucky enough to be confirmed by the South Carolina Senate, I pledge to the people of South Carolina, especially, specifically to the ratepayers of South Carolina, that I will continue to put my heart and my soul into this operation and into this service for South Carolina,” said McCoy, flanked by House Speaker Jay Lucas, R-Darlington, and former House colleagues.
McCoy, of Charleston, most recently served as the U.S. attorney of South Carolina, tapped by former President Donald Trump. He resigned that seat in February after President Joe Biden took office. As the attorney, McCoy oversaw a federal probe into fraud allegations against leaders of the now-defunct company SCANA. That probe led to two top former SCANA officials pleading guilty.
Prior, McCoy represented his Charleston district in the state House, chairing the powerful House Judiciary Committee.
He also chaired a House panel that investigated the $9 billion V.C. Summer nuclear project failure.
“There are good choices, there are better choices and at times there’s the absolute best choice you can make for a position, and that choice is Peter McCoy,” Lucas said. “He’s exactly the type of individual that can bring the cultural shift that that agency needs.”
Should he be confirmed, McCoy would earn a $24,000 a year, plus a $75 stipend for each meeting he attends.
McCoy’s path toward confirmation could come with ease.
Senate leaders expressed support for his nomination, telling The State that McCoy knows the “good, the bad and ugly” of the utility.
“The governor made an excellent choice in Peter McCoy,” Republican state Sen. Larry Grooms, whose Berkeley County district includes Santee Cooper’s headquarters, told The State this month. “Having someone with knowledge of South Carolina’s electrical utility business is extremely important, and Peter certainly has that.”
McMaster’s previous choice to lead the board, Charlie Condon, did not make it through Senate confirmation.
Asked what feedback he’s received to give him confidence McCoy will be confirmed, McMaster said, “There’s been nothing but positive response to this. I and others think that Peter McCoy is the perfect man for this job.”
