COLUMBIA, S.C. – Governor Henry McMaster today was joined by the state's electric utilities and members of the General Assembly for a ceremonial bill signing of H. 3309, the South Carolina Energy Security Act. The legislation will significantly improve South Carolina's ability to generate and deliver the power needed to keep pace with the state's rapid economic growth and rising population.
"With more people and businesses choosing to call South Carolina home than ever before, the demand for reliable, affordable energy has never been greater," said Governor Henry McMaster. "This legislation is a major step forward in securing our energy future by ensuring that we can generate, deliver, and manage the energy we need to fuel our continued prosperity."
The law streamlines the regulatory review process for energy projects by directing all state agencies to expedite their reviews and make decisions on energy-related infrastructure projects within six months of receiving an application. This provision is set to expire in 2035.
As called for in Gov. McMaster's 2025 State of the State Address, the legislation encourages the further development of nuclear energy. It expands the role of the Nuclear Advisory Council to include a statewide strategic plan for nuclear generation, promotes advanced nuclear technologies, and authorizes a pilot program for small modular nuclear reactors if endorsed by the Nuclear Advisory Council.
The legislation also authorizes a joint venture between Santee Cooper and Dominion Energy to convert the retired coal-fired Canadys Station into a natural gas facility.
“I want to thank Governor Henry McMaster for his leadership on this issue. In the state of the state in January, he said we were going to meet the power demands of South Carolina, and we were able to meet that promise,” said Senator Tom Davis. “This legislation provides something for every stakeholder in energy — large energy users, the environmental community, and utilities. This will be something of opportunity for all South Carolinians, and the power is on in South Carolina.”
The law further directs the Office of Regulatory Staff to develop a comprehensive energy assessment and action plan outlining steps the state should take to ensure the continued availability of affordable and reliable electric power and natural gas. It also instructs the Public Service Commission to consider updates to voluntary renewable energy programs that reflect the needs of South Carolina businesses.
The bill also gives utilities new flexibility to offer competitive energy rates to companies that make significant investments in South Carolina. These negotiated rates are available to two categories of employers that meet job creation and capital investment thresholds and are designed to help attract transformative business projects that benefit the state’s economy.
Since Governor McMaster took office in 2017, South Carolina has announced 880 economic development projects, totaling more than $49.8 billion in new investment and over 96,000 new jobs. According to the U.S. Census Bureau, South Carolina is the fifth fastest-growing state in the nation.