ML20206A779

Santee Cooper 1986 Annual Rept

ML20206A779
Person / Time
Site:	Summer
Issue date:	12/31/1986
From:	Holder D, Mescher W SOUTH CAROLINA PUBLIC SERVICE AUTHORITY (SANTEE COOPE
To:
Shared Package
ML20206A771	List: ML20206A769 ML20206A773 ML20206A779
References
NUDOCS 8704080169
Download: ML20206A779 (68)

Text

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Corporata Statistics-Fiscal Year 6/30/86 6/30/85 6/30/84 - 6/30/83 6/30/82' 6/30/81 6/30/80 6/30/79 6/30/78 ~ 6/30/77 Total Utility Plant net including -

~ nuclear finel(at year end)

~ 1,670,571' l.467.710 1,205300 950.628 759.839 577,936 437,162 (m thousands of dollan)

IJ45,891 1.773,788 1,779,161 Bonded Indebtedness (at year end) 1J35,850.. 1.261.420 990.I00 917,690 810,190 495.190

. (in thousands of dollars) 1,938,230 1,919,750. IJ88J50 I,7 %,545 1 o Operating Reienues (in thouunds of dollan)

Residential -

46,529 41.414 31572 28.098 27.121 21,949 17.639 15.255 -

14.585 10.881 Commercial 46,709 39,268 32.865 28.853 28.145

- 22.452 IM.835 16,822 15.530

.12.439 Industrial 139,681. 152.549 132.833. 124.015 131.189 99.551 40,417

' 31131 26.672 21,557 '

Mditary 18,000 15.649 13,978 12.893 12.487 9.225 6.954 6.567 6.330 5.049 Municipal 1,792 1.575

. 1,254.

1,029 955 704

_ 65.997 '

59,975 54,101

'42.265 587 546 526 422 Wholesale 198,826 177.906 140.211 126'104 105,994 -

90.971 Other Elecnic l'tihtics' 975 Miscellaneous 3,463 -

2,261 1,986

. 1,716 I,840 1.494 1.364 1,401 1.236 1,219 Total 455,000 430,622 358.699 322,708 307J31 246.346 151J93 135.697 118.980 94327 Operation & Maimenance Expenses Charged to Operations 88.144 71.904 (in thousands of dollars) 260,955 259,233 236,389 - 218,976 226.320 187,890, 109,997 103.928 Pasments in lieu of Taxes Charged to Operations tin thousands of dollars) '

2,176 1.920 IJ50 981

'565 966 928 726 658 734 Pasments to the State Charged to Remsested Earnings tin thousands ordollan) 1,901 1,700 1.600 1,500 1.400 1.300 1,300 1.200 1.201 IJ97 Net Operating Resenues Asadable For Debt senice (in thousands of dollan) 219,072 195,899 136.186 118,230 94.219 66,503 46J32 35.958 33J96 28,091 Remvested Earnings" (in thousands ol dollars) 30,106 45.948 50.515 41,057 53,131 29,330 21,406 10J91 1516 8,978 Debt Sersite Coserage:

Espansion Bonds 1.47 1,61 1.83 1.69 2.18 1.90 2.41 2.12 2.30 134 Pnunn Obligation & Expansion ihmds 1.46 1.59 IJ8 1.65 2.07 139 2.14 1.88 1.98 2.46 Kilomatthour Sales (in thousands)

Residential 720,438 672.865 646.467 559.929 541,522 536.461 472.495 443,186 446347 401107 Com:.arcial 812,520 738,430 688,748 595JSI 569,474 549J37 -- 511,726 506,243 489,437 - 449.335 Industrial 4,557,796 4.501.626 4.232.994 1940,370 4.049.632 3.952.408. l.890.415 IJ88.087 1.441,494 1.3MJ06 5fihiary 443,064 405.802 392.309 373.403 350,127 343.258 306.582 316.537 323J63 302Jr9 Municipal 30,500 29.571 25.448 20.236 17,841 17.572 17.506 16.966 16.670 11495 Whoicule 4,214,322 Sf78.087 3J98,454 3.422.275 3.351,388 3,470.042 3.099.574 2f81J81 - 2.841935 2.576394 l

Total 10,778,640 10.226.381 9.784.429 N.911.937 8.879,984 8.869,478 6.298.298 5.592,800 5.561,566 1104.226 Number of Customers f at scar end)

?

Residential 63,895 59,755 55,610 50.255 46.310 41462 40.053 38.058 35,590 32.513 Commercial 13,733 13,553 11.601 10,5M3 10.129 9J54 9.236 8.859 8.466 8.102 Industrial 26 26 26 25 25 25 24 21 20 19

]

Mditary 3

3 3

3 3

3 3

3 3

3 Municipal 372 342 329 300 224 216 212 207-197 189 Whoicule 3

3 3

3 3

3 3

3 3

3 f

Total 78,032 73.682 67,"72 61,169 56.694 51463 49,531 47,151 44.2794 40,829 Residemial Statistin (ascrage' Kilow atthour Consurnption> Customer 11,591 11.6 %

12.240 11J08 12.093 12.875 12,151 12.097 13.174 12.832 Cemdilowatthour 6.46 6.15 5.50 5 02 101 4.09 SJ3 3.44 3.27-2.68 Generaimg Capabdity (3 ear end)

(megamatts) 2,759 2J64 2J64 2.265 1,965 1.965 IJ36 1,456 1.400 1.120 Power Requirements and Supply (Lilomatthours in milhuns)

. Generation-li dro 413 4R5 628 694 522 414 824 680 702 715 g

3 Steam 8,472 8.442 7.287 7.840 8.492 8.620 5.800 5.343 1238 4.402 t

Combustion Turbine 1

2 18 31 10 6

38 21 Nuclear I,MI I,516 1.931 494 Total 10,756 10,444 9.848 9.028 9.032 9.065 6.634 6.029 5.978 5.138 Purchases. Net interchange Etc.

353 227 M5 333 380 371

- 193 429 95 474 Total I!,109 10,671 10.203 9.361 9,412 9.436

. 6.827 6,438 6.073 5.612 Calendar Year 1985 1984 1983 1982 1981 1980 1979 1978-1977 1976 lerniorial reak loads (megawatts) 2,006 1.824 1.M10 1.685 IJ54 1,554 1.352 1.231 1,161

.I,065

• ElTectiseJuly 1.1977. Interchange sales were reclassified as a credit to purchased power.

• • Reimested earnings referred to abrwe and on pages 50,51, and 52 eflect revenue available to meet Santee Cooper's Bond Indenture and Resolution tequirernents.

ii

~

sourre ofIncome rv 86 Financial Summary Since Santee Cooper was created in S$yyyyy?ijf l g

g 1934, a net amount of $2,098,143D00 inchatruisaic. I

(

has been invested in its production, 313*135g"]J l

transmission, distribution, and

$4 m 7socu s>IM co general plant facilities.These capital additions have been financed through otherincnn,

52* M

• 5)I I

reinvested earnings, issuance of elec.

tric revenue bonds and notes, lease s17:e>u320UsIN) lE I

S'l" f r R ^1e l

contracts, and a federal - nt in aid of Oth"sV>l5fMB O."7% ) !E l

1 i

$34,438,000.

othertwtm u enue ss.4raiss(o.7 s > H Santee Cooper's net earnings before sm$NMl taxes since the first power was generated in 1942 total $394,436,000.

Payments in lieu of taxes have been Distribution ofIncome FY86 made to the State of South Carolina totaling $26,423D00, and to the cou n-ties and municipalities within our ser.

'Ii$7wY7 NEE I M

EE vice territory totaling $14,263D00.The pyy. g gIm MM M

remammg net earnings of operamn naintenarx iggg

%,, J i 4 @ ly l j

$353,750D00 have been reinvested in E

s u ssss0163%)

the Authority.

~

Retirement of Debe !

si3984,is? (291%)

Revenue bonds totaling $2,966,609,000 runwnu io the suie,

st i

hue been issued since the creation of g lug I

Santee Cooper.Seiies B bonds which sis 383is p 53 were originally issued in 1949,1971, 1976, and 1981 have been advance refunded and defeased. Also, portions of the 1980 Series A,1981 Series A &

C,and 1982 Series A & B hase been ad.

umce refunded and defeased.

All refunding bonds had an outstand.

Average Residential Consumption & Cost ing balance of $938,649/100 at the time conmnipten $hM FM they were refunded. Principal i

payments on all bond issues, including umsI QM E

g3 the issues refu nded, total S69,730,000.

sanice cmpn EM E

Outstanding bonds as ofjune 30,1986, us91 83 totaled $1,938,230,000.The average an-Naimnal * '

E nual interest cost on these bonds is 75

[3s l M

ME percent.

As ofJune 30,1986, unexpected funds "ocenm u m m a from the sale of bonds amounted to

$63.593,000 in addition to debt reserve, as 615' ;

debt service, interest and special funds sant,c n,oper which totaled S271,77]D00.

de lE M

I 716,' I E

Natmnal

'I I

7

/

iii

l' Table of Contents The PalmettoTree.

Itundunng guies hamarned us plau.

Prelude '

ment on the stateflag and state seal, and as a Corponte Statistics..

. ii symboi representing sauth carolina. The theme Financial Summarv.

. iii

^

ofthis annual report is " People, Ibwer, and the Comparative Highlights.

.1 Jalmetto State,"the rxpression ofan enduring 5Iission.

.l

'*

• bi""'5"" *l"""* 5' "'*" '*'-

Chairman and President's Letter.

.3 j, ;.

Energy Sales.

.4 Distribution Sptem.

.4 f'

[

i Energy Afanagement.

.5 Generation and Load Growth.

.10

/

Nuclear Power.

.10 s

System Planning.

.10 Power Supply.

.10 1 )

p Transmission.

.10 Reliability 10 Engineering and Construction comparative Highlights 31anagement.

I1 Generation and Transmission System.

1I Fiscal Year 1986 1985

% Change Power Generating Stations.

.16 Retail Customers Served 78,000 73.650 5.90 Production Operations.

.22 Average Annual Residential Performance and Environmental Consumption (kilowatthours) 11,591 11.696 (0.90)

Services.

. 22 Design Engineering.

.22 Average Residential Cost j

Project Afanagement.

.22 (per kilowatthour) 6.46' 6.15' 5.00 j

General Construction.

.23 Operating Revenue

$455,000,175

$ 130.621,983 5.70 Corporate Communications.

.23 Gross Income

$481,687,205

$456.556,849 5.50 Flood Control.

.28 Afosquito Abatement.

.28 Electric Operating Water Quality Af anagement.

.28 Expenses

$326,895,138

$322,793,420 1.30 Aquaculture.

.28 Gross Expenses

$477,643,805

$474.049,890 0.80 Horticulture.

. 28 Other Deductions

$ 1,800,297 3,766,000 (52.20)

Property 51anagement.

.28 Economic Development.

.29 Costs to be recovered Special Feature.

.30 from future revenue

$ 27,863,063

$ 67,207,278 (58.50)

Program for Employee t

Energy Sales Participanon.

. 36 (megawatthours) 10,778,640 10.226,381 5.40 Human Resources.

.36 Occupational Health.

.37 Bulk Energv Sales to other Utilities 104,463 191.941 (45.60) i Training and Deselopment.

.37 Safety.

.37 Territorial Peak Demand Corporate Forecasting, Rates, (megawatts) 2,123 2,006 5.80 and Statistics.

.42 a

car 1985 19 4

% Oiange Afanagement Information Systems.42 Treasury.

.43 Territorial Peak Demand Applications of Resenue.

.43 (megawatts) 2,006 1324 10.00 Financial Statements.

.46 Auditor's Report.

.47 Schedule of Refunded Bonds.

.57 Schedule of Bonds Outstanding. 58 Board of Directors. Advisory Board, and 5fanagement.

.60 1

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9 services resourceswhich 2nderbio peopleofSouth Caroline. We do to faMretention of-theae=rian and N 9 3-wwhueou,,.eductasene r.osam- [a 7(

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energyresources;end carnamnity, opermecureompany,and a ni ramersand M y,y

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4 toimprove the calife oreurcustomers-o rnatiibutesto mis-b 05 Lour @ktoattract employ andpromok thepeopleof ith Carotida see system isfin=ncedindependene of tax in order mensme mmu ' -

d DA.3 im and effi -" We reward

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ne=cestate appsopriated funds. As a =t=te-nce T6 utility' corporation,we seu electric power arough emnpethrveconspen==enan.gg

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gl SIpport a him$ne== climme by pro-u:nentlywith our and an=eanners,..k:

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Ixtter from Chairman and O h O M M #. c:

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NWh;M& :

NkNQ' i{,.$h{

'1 In l'iscal Year 1986, Santee Cooper 4

IW yh 1

hhr

$[%~

8

- k * [%

eq continued its improsed performance, j

' fj';.

and we beline our efficienn of opera-

. gf %pc ;[]T Q Lpg t.,q

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ggg5j 1On was a major contributing factor, yy M

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, = =

in mm ing from a support to a leader-l M( w 4

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3

<.yN ship role in the economic develop-ment of our state Santee Cooper will contribute to the business and in-6 dustrial growth and deselopment of

.?

South Carolina.~Io support that move, y.

s Santee Cooper established an l

Economic Dnelopment Rate for new

. (

( g

~

Fg, and expandingindustries ~1his will x

imprme our rnenues and help bring y

. f newjobs to the state. Ah cady, this has

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generated an impressise incr ease in

-1f

[

prospect actis ity.

?j 4 4(l.:

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.d[4 Mk i {3Q } [, '. - ' }

Customer eception of our operations es en follow mg a general rate increase V

,.(

j$,,&

g(y %

k g $.y and performance remains fasorable af M

A'

• o in Nmember. Customer relations were impim ed by keeping our rates among the hmest in the state and southeast.

rnenue ratio was reduced by 3 percen-employ and these we serve -

tage points. Through an advance employees, customers, citizens, com-We also restructured residential rates retunding, we reduced annual interest munity leaders, naturalists, and in-to reduce the cost of electricity used by on long term debt by $2.4 million.

sestors. In this report, they will share our year-round all electric customers.

These imprmements in our shm t term perspectises w hich will help you We beline this new rate will be an ex-and long term financial statuses understand this relationship.

(ellent marketing tool in (ompetition helped us maintain fawrable bond with other energs som(es.

ratings with the rating agencies.

South Carolina's greatness is the prod-uct ofits people, and Santee Cooper's in addition, woiLingjointly with our Another major factor sustaining success is no different. With the l

mal and rail suppliers, we prm ided Santee Cooper's gmw th was the mnti-strength and dedication of our I

shm t-term rate relief to our thice nuing surge of residential and com-employees, the support of our l

largest industrial customers u bich mercial growth and dnelopment customers, and the opportunity to l

were f acing plant cutbacks or closut es.

along South Carolina's Grand Strand.

meet the needs expressed by our l

This, plus mst-reduc tion actions by the lintels, condominiums, restaurants.

citizens, Santee Cooper will ensure i

customers. allowed all three indust ries and shopping malls continue to be that e crything we do contributes to to continue operating at full buik, along with new residential and the continued progress and prosperity j

production.

business dnelopments. golf rourses, of the Pahnetto State.

(

and a host of recreational facilities.

Our concentration on customer rela.

The su ong gmwth in both demand

[

g l

tions and emnomic growth did not and energy imm that sector of our v

lessen attention to our financial ac.

customer mix helped maintain Santee D

tis ities. The industrial rate rehef Cooper's forward momentum.

Dwight A.Iloider slowed our increase in gross rnenues Chairman of thelloard to 3 percent. Howe er, by controlling This report goes bemnd the numbers operating expemes, w e increased our and the narratise wliic h desc ribe a y

g /$

net operating income bv 19 percent year of challenge and achinement.

and our ac cumulated re'imested earn.

With the theme of" People and Power" Williani C. 51mher President and ings by M.7 pet t ent. Our debt to-erguity we pay tribute to the telationship be.

ratio was imprmed by 10 percent and tween this utility and its most impor-W C h C"N'c M Cd our operating expense to-opemting.

tant resom(es - the people we 3

Energy Sales the presious year but 13.1 percent Distribution System lower t n the nanonal avenge At the end of the fiscal year, Santee Dy namic growth in residential and Cooper was providing electrical ser.

The average cost of power for Santee

'" * * * i'I d # "I"P * * "' '""' I "" #' '"

s ice to 78,000 residential, commercial, Cooper commercial customers, was be the driving economic fi>rce along and other retail customers, an increase th C,arohna s (.mnd Stund, which 5.75 cents per kilowatthour, up 8.3 per.

of 4350 or 6.0 percent over the is sened bs the llorn'Georgetown Disision. '

pre ious year. Of this increase,4,140 were residential and 210 were com. h Industrial sales were 4557,795 mercial and other. This compares wit n sponsible fi>r Santee Cooper,"s

"'E#'"* " b...

C megawatthours, up 1.2 percent over growth m 198a of 4,14a residential and the previous year. The average cost of IS6a commercial and other power to industrial customers was 3.06 tmnun sdon nd dnintmnon opera.

customers.The merall growth rate in tions in the two cents per kilowatthour,9.7 penent less the retail sales w$ounty area, as well as new customers was 33.0 percent less ithm the sen ice area.

than the 9.0 percent growth rate the than the pre.ums year.

This includes the municipalities of pres ious year.

d'I "'IC Beach, Briarcliffe Acres, Con-Sales to U.S. Air Force bases at Charleston and 51vrtle Beach and to w S on.s, nie Beac onh Wnk Sales to these retail customers w;ere the Charleston Na' val Station increased Beach, and Surfside Beach. Pawley s 1563,458 megawatthours, up 8.a per-cent oser the previous year. This com-9.2 percent from 405,802 megawatt-s and up incorporated and added to pares to last year s growth in energy hours to 443J)64 megawatthours.

dw nu'mcipahoes sened b) the dn i-sion. Also sened are the unincor-sales of 5.9 percent.

Sales to 15 electric cooperatises Porated a[eas of Arcadian Shores.

G.arden City,51urr lls Inlet.and M,ac-through Central Electric Power The ayerage annual consumption of Cooperatis e, Inc., Santee CooI>er's c in w Neck electncity bs Santee Looper residen-tial custo'me'rs decreased to 11591

',h"[I ""

Siajor indicators of rapid growth for 07 kilowatthours 0.9 percent lower than the presious year but 29a percent The electric cooperatis es distribute the area indude Dunn and Bmdsn eet greater than the national average Santee Cooper power to about 280J100 Corporation's suney ranking Horry customers in 35 counties of the state.

County among the 15 fastest growing counties in the L mted States. Ilorry The aserage cost per kih> watthour for Santee Cooper residential customers Sales to the municipalities of Bamberg was un ed 13th nationally behind munties in the Atlanta and flouston was 6.46 cents, a.0 percent higher than and Georgetown increased 5.2 metro areas and ahead of greater penem.

51iann.-

Energy Sales Senite in the two-county aiea was pro.

n w wwin s ided to 733H1 customers. a 6 percent increase mer 1985. Energs sales for the 4.m.,ffiN,I M

6 year totaled 1.463313 meganauhours un.trI$iQlm with resenue of $M9588.066.

n.,nnen ui M!mnMa Continued rapid growth in the dis i.

73,I/$""ll l E

sion has requiied additional oithe 4rmIt!$ IE

".nd operations space. A new retail of-I hce m, North.\\l> nle Beat h n under wny,,a,

• can w a construction. The 4,125 squaie-fi>ot facility will indude ontomer senice and area engineen' of fkes, an opera-nwwwm tions center and a warehoine. It is ev petted to be comp:ced by Fall 1986.

hulusin I couuno urro l M

M Colntnictiott was begilu on a new I

l l g

transportation sen ices center at the n,n,,,,.n m, miannroI future site of the disision comples, g,M'l"lll 3

located between.\\lu tle Bea(h and Conwa3.The 17.000 squarc. foot shhun 4"j,y,,'$

building will indude garage and em octro I related sen it es space and will sene r

as the centrallocation for all tranv 4

i

portation facilities for the division.

Energy 51anagement and the Rates There were 14 conversions from fossil Completion of the first phase of con.

and Statistics division receised a fuel systems and 30 from electric struction is expected in Spring 1987.

$25,000 Demonstration of Energy Effi-resistance heat to heat pumps. Ap.

cient Developments grant from proximately $647.217 has been The new division distribution Super.

American Public Power Association.

loaned by the WISE Program since it visory Control and Data Acquisition The grant provides funding for a com.

began in 1982.

(SCADA) system was completed in puter program that will use data from June, and substation dispatchers solid-state recorders on residential Santee Cooper's Passise Solar moved from their.\\lyrtle Beach substa.

meters to aid in rate design and Demonstration Home Project is soll tion site to the facilities located at the marketing research.

being monitored to verify perfor-Conway ofIice complex.The SCADA mance.The solar home experience is system will monitor and control the Cooperating with a local builder and helping the development of new distribution and transmission substa.

development firm, Santee Cooper an-marketing plans to improve residen-tions in the two counties, providing in.

nounced the first energy efficient sub-tial load factors.

creased customer sen ice reliability.

division in the company's service area.

The system will also prmide data The Foxcroft subdivision in Alyrtle Educational seminars on energy con-necessary fbr accurate planning.

Beach will consist of 36 single family servation were coordinated by Energy homes, all meeting San tee Cooper's af anagement personnel for teachers, During the past year, residential and energy efficient home standards.

heat pump installers, architects, small commercial construction was at Seseralof these residences will be builders, des elopers, realtors, and an all-time high for the Aloncks Cor.

monitored with solid-state recorders Santee Cooper employ ees.

ner district. This includes the towns of and will be compared for energy use N!oncks Corner and St. Stephen and with a control group in an adjacent Santee Cooper's Energy af anagement the unincorporated areas of Pinopolis, subdivision.

section established the South Carolina Bonneau Beach, and Lions Beach.The Energy Products Evaluation Commit.

number of customers increased 3.7 o Energy audits, providing prmen cost-tee, a state-wide organization. The percent to a total of 4,959.

effective suggestions on ways to sase committee resiews new energv sas ing energy and dollars, were gien to 421 products and literature to determine l'nderground senice was prosided to residentialcustomers. A commercial acco ptability and fight energy fraud.

a residential subdivision consisting of energy audit program helped The group is associated with the State 26 lots, with an additional 100 lots to businesses save energy and dollars by Consumer Affairs Department.

be developed later. Service was pro.

improving load factor and lowering vided to seseral commercial office demand. Ninety-three commercial Educational resources were provided buildings and a new automobile audits were conducted.

to schools, community groups, and dealership.

clubs in Santec Cooper's sen ice area, Load calculations and thermal design and the company sponsored National To prm ide for new grow th and im.

analyses for electric heating and cool-Energy Education Day (NEED)in prove sen ice to existing customers, a ing systems were provided for 646 Horry County. A leadership con.

new distribution feeder circuit was residential customers and 123 com-ference, with representation from cat h constructed, and an existing circuit mercial customers. The program, school, was held at the beginning of reconductored to prm ide for r,ew available to all Santee Cooper the school year. The conference in.

growth and to improve service to ex.

customers, helped in the proper selec.

troduced available energy resources isting customers.

tion ofequipment, which eliminates and explained the importance of mak.

mersizing and the resulting effect on ing energy awareness a part of educa-Business and industrial grow th pro.

peak load.

tion. Pee Dee Elementary School won jected for the Trident area indicates an the South Carolina Energy Award and esen stronger growth rate for the The Weatherization, insulation and the Nationaljunior Level School of 1!oncks Corner district in the coming Solar Energy (WISE) Program pro-the Year Award in NEED competition year.

vided $278,188 in low-interest loans in Washington.

to residential customers for upgrading Enegy Management or instaning insulation, weatherstripp-Energy 5!anagement wm ked with ng storm windows, heat pumps, solar neighboring power companies and Promotin8 ow cost and efficient use water heaters, and heat s ecm erv other utilities throughout the country l

of energy to satisfy the needs of.ts devices. No-interest loans wet e 'made to evaluate and studv new ideas, customers was the effort of Santee

~

to certain qualified customers. WISE educate consumers, and promote Cooper s Energy 3.!anagement sectmn loans imluded $197,581 lbr installa-residential and commercial energs during the past year. Conservation was tion of new electric heat pumps.

conservation.

emphasued to mfluence peak load and to delay future plant construction.

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'" A C'; i Superintendent of Operations

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f Winyah Station. Georgetown. SC "This is where it all starts, where the power's produced. Operating a generating station isn't too dif ferent from nmning a manufacturing plant or other illdustry. It'sjust that our product isn't a ptoduct you can see or touch.

It's electricity. I'm told this is the oniv thing that's ordered, produced, and y.

deliscred all in the same instant, the moment our customers flip those swit-

.,1(j ches. 'lo me that's still amazing. and it's what makes wor king for the power MJ company so satisfying. You reali/c that with electricity you're always helping

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Generation and Load Power Supply This included power proyided for cwo Growth Computerization has helped increase mumC8Pahnes, three mihtary mstalla-ef iency during the past year in areas tions,261arge mdustrial customers, Santee Cooper facilities, including and 15 of the state's 20 electric trannn n and generanon system one-third ownershi of the VC. Sum-mer Nuclear Station, generated control. With the Supervisory Control cooperatises sened through 212 P

deli'##I E "I Tl'# #"'"E' '#"" "E' i

10,755,956 net megawatthours of elec' and Data Acquisition System (SCADA),

tricity this year, an increase of 312,249 System Control personnel obtained pannate

,%0 customen in S uth Carohna s rural and urban areas.

megawatthours, or 3.0 percent m er last operating ir. formation from outlying substations and generating units and ye r.

operated this equipment remotely.

During the past year,10 electnc

1. " P## "'#

i

1. 'l P? nts were Of the total power generated. 78.8 per-They also used SCADA to analyze generation load information to make dded to the transmission system.

cent was produced by coal,17.4 per.

cent by nuclea m d 3.8 percent by required adjustments in system hydru Peak hoct'y demand for the generation. An offline computer pro-A lo p-feed transmission system and year reached 2 m megawatthours, an gram was used to help determine the the ability of transmission crews to increase of 59 p a over the optimum unit commitment, power P#

previous year.

sales, and purchases for the most energized circuits prm ided Santee economical power supply operation.

Cooper customers wah very reliable sernce.

Nuclear Powes Short and medium-term plann.mg During the past year the VC Gummer operations were expanded to mclude The new 15-mile long Alateeba to Nuclear Station.jomily owned with problem area studies and contingency Johns Island 230.000 soh line was placed South Carolina Electnc and Gas Com-analyses to provide maximum systent b in W;19Movim pany, continued to provide security under all operating conth-the newjohns Island 230/115 kV substation and the new.\\f ateeba 230 economical and dependable power. It tions year-round. Santee Cooper s generated almost 1.9 billion kilowatt.

short-term nstem planning got a boost swnching station.These facih..nes hou rs of electricity for Samee Cooper with the addition of a computerized aHowed Santee Cooper to sene the customers, which was 17.4 percent of color radar system. With this advanced llerkeley Cooperative facihnes on Santee Cooper's total generation. Sav-warning system, system controHers can Johns Island. Eight transmission tap ings to customers weie more than 526 prepare for any severe weather condi-hnes were conuructed dunng the year.

mulion compared to the cmt of fbssil tions w hich may af fect synem security.

All substation construction plus some

"'"""*"""##""'"*'I"""~"'

fuels. For FY 86, the station achiesed a capacity factor of 72.6 per-ent.

System Control purchased 111,124 peiformed by Santee Cooper crews to eHmin tuontract labor and seduce megawatthours of power from the in-During the FaH of 1985 the station terconnected utilities in IT 86 to underwent its second refueling, at displace higher cost generation for a which time a modified fuelload was savings of S' 053.188'In addition, unha innease the rehabih.ty of installed.This will extend the interval 104,463 megawarthours of power were sen iceyo customers. Santee Cooper between future refuelings to 18 sold to the interconnected utilities for m int med 12 transmision intercon-months, rather than the 12 months for a total of S2,91131R The result was ad-nections with a@acent uni, ies n

previous fuel cycles, and wiH result in ditional res enue to Santee Cooper and duou@mt the syuent increased capacity operation and reduced power costs for the intercon-reduced frequency ofscheduled nected utilities.

Reliability outages.'l be next refuehng is sche-To imprm e system reliability. Santee duled to begin in mid Af arch 1987 and Transinission cooper maintains inie,connc<, ions last approximately eight weeks.

Santee Cooper's transmission system with other electric utilities including consists of 3346 miles ofline and 54 the Southeastern Power Administra-System Planning substations and switching stations uith tion and Southern Company at the System Planning was reorganized at vohages randng kom 1W to M guch Dain;wnh South Carolina 230,000 solts. Transmission facih,u,es Electnc & Gas Company at llush) the beginning of 1985 to imprme coordination and communications are h>cated in 38 of the state's 46 Park, Noith Charleston, St. George, counties.

with Power Supply and to impro e Cohunim; and the Summer Nuclear productisitv.The System Planning Stanon:wnh Southeastern Power Ad-staff was also increased by 25 percent, Aforeyhan 1I bHHon kHowanhoun of ministration, Duke Power Company, f*om 8 to 10.

electncay were dein, ered to about and the Southera Company at Clar k 356,000 customers within the state Ilill; and with Carolina Power & Light either directly or indirectly through Company at Dailington, llemingway, Santee Cooper transmiwion facilities Kingstr ee,1.ugolI, and Rohinum.

10

1 In addition, the company is drives were placed in storage at the commercial greenhouse was com-negotiating with Savannah Electric Cross Station to avoid storage costs at pleted and placed in operation.

Power Company and Georgia Power the supplier's location. Engineering Company on a three way was completed to replace the plastic Three projects were completed during 230 kV interconnection across the temporary wall of the turbine building the year which were not directly Savannah River which will provide a with metal siding.

related to power generation. A waste-significant increase in reliability to the to-energy study report on reducing the southern half of the Santee Cooper At Winyah Station, the Unit Na 2 landfill sequirements in the 11 coastal system.

boiler modincation was tested, and the counties was completed in October manufacturer was required to design and presented to the board of direc-Santee Cooper is one of 28 member further improvements which will be in-tors. A study concerning the use of the organizations in the Southeastern stalled under warranty next year A ma-lake system as a regional water supply Electric Reliability Council, comprised jor modincation to the Unit No. 4 FGD system was completed inJune, and the of all power suppliers in the region System was designed and installed dur-report was presented to the board in with at least 25 megawatts of ing the spring outage.This improved July.This section also provided generating capacity each.Through the reliability and efficiency, and decreased technical assistance and constmction council, member systems coordinate operation and maintenance costs.

management for the main ofnce com-overall planning to achieve maximum The heating water system from Unit plex pavement improvement project.

reliability of power supply.

No. 3 and Unit No. 4 cooling towers to Santee Cooper is also one of sesen power systems in the Virginia-Carolinas Reliability Group, which al<.o includes Carolina Power & Light Generation and Companv, Duke Power Compam, South Carolina Electric & Gas C'om-9 Transmission System

., A g@g gg g f pany, Southeastern Power Administra-rom.% m. n e,;

i k

qry * -

tion', Virginia Power and Yadkin,Inc.

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3 all construction activities associa:ed

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its operation and maintenance.

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unloading facilities were designed and installed.The boiler feed pump turbine 11

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Engineering Standards Supervisor Santee Cooper, Moncks Corner, SC

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"You don't build substations or transmission lines ovcrnight. It takes a lot of 4 5

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teamwork to make sure that Santee Cooper has the power delivery sptem 0

planned and constmcted to meet the needs of our customers. That involves

, ya, coordinating the work of planners, engineers, electrical and communications g:

technicians, environmental specialists, and a host of other professionals. This y

team effort assures that facilities are constructed on schedule and on budget,

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which helps us maintain the favorable rates paid by our customers."

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Jeff~eries Station Pinopolis,SC

. u6g@, 4 hh.N=,k "I remember what it was like before people in this aica had power. I giew up hif with Santec Cooper and thank the I.ord that lie been a part of w hat this a NM power (onlpans ba% done to make life in South (:aiolina benei. The job of

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M/M keeping our generating units in shape isjust as impoi; ant as thejob u hit h

{hyk our company s president does. I hat's u hat he told me. I'm an emplosce and a ighipn

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l customer. And I hase the best of both woiIds.1)uring the pasi 30 scais,Santec 3 /WM h

Cooper has beer so mm h a par t of.nn life that son'd pinhably find it inn.

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I Power Generating Stations Jefferies liydro Santee Spillway Grainger Steam Jefferies Steam Myrtle Beach Generating Station Generating Unit Generating Station Generating Station Combustion Turbines m e q,g h i d,

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i ll Imation: Pm.p hs %(

Location: Pmenhe. SC Locatmn:( onwat M.

Nation:Pmopohs. %(

Location: \\lsitic Br.n h M l

Fuel T pe: Hutroctriint iuel Ts pe: Coal t uel T pe:

Iuci Ti pe:Od FuelT pe; Hulwictiru 3

3 3

L inn 1 A 2 - Od Generating Capabdits:

Generating Capaluhty:

Generating Capability:

t mn 3 & 4_ g,,a Generanng Capahih:3 :

125 megawans 2 meowans t mn 1 A 2 - 170 meg iwain 1 inn 1 A 2 - Jomri,n m-Generating Capabihts :

1 mas L a 4 - lo me en on Construction Cost:

Construction Cost:

Construction C.ost:

I nen i A 2 of m'e g m an =

l rue *>

to mege ce

$ r h nmo..n se"a o

$2" J nuthon, t mn 4 3 4 _ 3,,g y n

34>= per b

$Joo per Lw 5172 per kw Canstruction Cost:

Construction Cost:

1 em-l A 2 - $2 9 n-

..n Began Commercial Began Commercial Began Commercial t mn i 3 j _ $i,7 n.ini%

9 4, y, b Operation:

Operation:

Operatmn:

$g;g p,., y g,.g, 3 3 4 _ q'.,

,g 19 12 11W l++

t n,n 3 3 ; _ g,4 %nnyn,,

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,g FY 1946 Generanon:

M 1946 Generation; I Y 19m6 Generatmn:

ilI" PCI' b l int - 52 7 nMh n

$* Pe f b 211 mlu m ka h 11; m,n.,3 b h o, noun.n W h

=

g, % gg O eratmn:

Began Commen ial iuci Consumpton - FY 1956:

I uci Consumption - n 19=h:

ivel Consumptmn - H 19M6:

P n, o,e none o. No n -ns..! i nal i ma l A 2 - 14 i Operarmn:

~

i run 3 A 4 - Pi o LnusIA2-Po2 f uel Cost - FY 19*6:

f uel Cost - FY 198b:

F uel Cost - F Y 19ho:

i n a, i A i - pi

m.n r

n. nr in 4 !2 7m il IY 1946 Generanon-t,, g 3 _ p,,

l in s 1 A 2 - n. u Genera, ion cosi per km h:

Generatmn cost per kw h:

Generarmn cost per kw h:

l no 4 A 4 - l 1 h 19=6 Generation:

m.nr mwe 172iienn ton,on b h IJu mbb Principal Features:

Principal Features:

Principal Features:

F uci Consumpnon - M 19=6:

F uci Consumpnon - H 1%6.

]t tf rnes H utni be t.1.

ruibmr H oh o uno w oh man io. tone

(.r ursrrsoram (.c ne re m g %ea i ng j _ n

,, c g g.n,, q m g grnetanos w hn h wert u.uial gr nr e n,i w.n entaHed i.,

in m w as <.rnu m erst bs a mi n gngg_u f uel Cost - F ) 1956.

un os f oi the Neuer i o. pe r gencur p.mer um e the er ow r.rd bs ( cnu al t let n o Pwer t n o 3 _ j,.1 o jnon h" I '" 2 '

Hutn. llri vn and Ne.g e ym ra d br ge.d il i. t. n u.

< ooper..m c Ini. w oh f unds

,.t n al oon wrem m l112 P..w er h i.se n

% m:cr kort L eoi n ope rau d tri ened ehn.ogh a Rav alllre t nn ; _ j g,.o p, n yn g,

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lot aiol t her.d l.akr \\l. mhnr ermou b f n njetfreir 5

.on re d n ao.oi Admm nt r.o son toar ot o t,!

q 3o,, g n w nh uater lemrl 7'. lcrt al r e

(.rs.rt.i'in g s ra i n %pi w n n t he piv ' n olwrated amt mam r

f ladraie t.an.d smgir hte b k owd s, onhn s n

.d i o trol tamed M %ntre f ooprr s. hn h f uel Cost - FY 19mb:

Principal Features:

po n olcs huat pesage heimerr.

pn.gr am b.r ir ir.ne s of w or i n m iking pe mrnn on il.c long L D"

• l A 2 - n'm

\\li nir lie n h s.m b o o n i.o l

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tre ra k t A lo. n b la n ihs lo.an n l mn 4 A 4 -

to m. n c,e m iahed t.. br'p t.

r ei

( noper lakes barrr v ooi e n pud. f t %ru r ( oope r w di

$22h N 2h ru t a.o rhe n i pc aL alri i u t.

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i dronn.g l *o ton s. port rm e stam ai g gn j 3,, _ g g me u nne po I.m u c po o

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w ho h eurnel thr ough to.r t en t un er pu work ou d bo prn o al.oid opper pu t t +c uee Principal Features.

load g. i ei.o i m le firi n s %rt.en L nm i and2.or irro wrurin %o rb t aroma

.d lo rd ru t bo.r ge m 1.0. -v s i n vade d w hen e d w n tia m ar ci on.otm I som, e.4 Iat i ibe 4 ones air ou d L. i a% na e n d6 %.s.md I.a prai lovl ge netao n ( ro = 4 aml 4 w err r ma:h od f u ert a i.I I. ort i o

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liitton IIcad Winyah Steam Summer Nudear Cross Steam St. Stephen Ilydro Combustion Turbines Generating Station Generating Station Generating Station Generating Station p f *. ^, g.f n,

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Generanng Lapabibn.

Generaang Lapahnhty Generanng Lapabihty Genera:mg Lapahitsis:

Generatmg Lapahihts :

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Production Opentions heat rates and identify potential im, Slajor design projects include the, provement of unit efficiencies.This m-51clntosh ue with Savannah Electnc A record setting five turbine-generator overhauls were performed this year by formation was also used to help Power and Georgia Power companies predict unit maintenance re. and the new Union Carbide plant.The in-house personnel, eliminating quirements, determine which units are Johns Island and Stateeba projects turbine. generator maintenance con-tracts and reducing labor and outside the most economical to operate, and were complered during the year. contractor's costs approximately 40 calculate precise costs for generating electricity. For all of these projects, early coor-penent. dination of design was essential. Re-An analysis program was started in quirements were established at an ear-In the first major outage since initial which field test data are used to con-start up in 1983, Cross Generating Sta-ly date, and manufacturing schedules tion s turbine generator was struct a speelfic thermodynamic com-for major equipment are monitored disassembled, mspected, and reassem-puter model of each generating unit. closely to prevent delays in delivery. bled after a warranty mspection. This invesdgation of design criteria, Standard designs and computerized alternate opention modes, operating drawings are applied wherever possi-abnormaihies, and maintenance re-Jeffen.es, the oldest generatmg station, ble to decrease engineering and and Cross, the newest station, were co-qu rements resulted in increased drafting time.To reduce field pro-reliability and more economical blems, construction groups are con-winners of the first goals program operatio' s. suited during the design stage. n competition, which resulted in a lower fuel cost per kilowatthour generated for FY 86. Environmental Sen ices prcvided These measures and others will allow technical assistance to the generating the division to continue providing stations and other divisions of Santee An aggressi e fly ash by-product project design in a timely manner for marketing and sales program was Cooper in such areas as hazardous and the benefit ofSantee Cooper's non hazardous wastes, acid rain, sur-begun this year to generate resenue customers. from a waste product w hile reducing face water, ground water, air, requirements for fly ash ponds and underground storage tanks, and PCBs Project Management large construction im estments. Total in order to ensure compliance with state and federal environmental The Project Af anagement dn...ision of sales of the by product in FY 86 were regtdations. Engineering and Operations ad. 8.156 tons for $34.582. Next sear's pro-ministers substation and transmission jected sales are 39.000 tons. estimated Design Engineering li"e C P talimprmement and i at $180.000 res enue. mamtenance projects. Design Engineering was (hallenged Performance and during the past Scar with demanding From the planning phase throughjob Environmental Services schedules for several transmission and completion, this dis ision performed The combm.ed efforts of Performance substation projects planned or con-project engineering and contr ol and and Environmental Senices con-structed on the Santee Cooper system. construction management functions tnbuted to Santee Cooper's elficient In meeting the challenges presented on approximatch 140 acthe and and economical generanon of power by these projects, a strong professional forecast projects' making up the ,m the most environmentally accept-staff and the utilization of computer 10-year construction budget. able manner. capabilities base been essential. All areas of Design Engineering have been Recenth completed, theJohns Island called upon for their resources, in-senice project included appioximate-The Performance group conducted comprehensne thermody namic tests cluding substation design, com-Iv 20 miles of 230 kV transmission line, on each of the nine coal-fired inunications and SCADA design, a new 230 LV switching station at generating units to document umt transmission design, suney, and a Siateeba, and a new 230/115 kV substa-number of support groups. tion onjohns Island. This senice allowed one of Santee Cooper's elec-Fuci Generating Cost /KWil tric cooperathe dktributon to gh e ps/KWIO FY 86 beuer sen ice to theJohns Island area, including the Kian ah and Seabrook cm,g, ;gggg Island resor ts. Careful monitoring and g,I excellent cooperation among the com-s. pany's sarious units alhmed this pio. Nay lml ject to be com,eted on schedule and within budg,. 22

General Construction transmitter installed at the Cross display, and a series orprint media ads Generating Station. It would also be for leadmg business and industrial As capital construction performed by used to notify residents when spilling development publications. this area continues to grow, so do the operations are planned or in the event requirements of operating and main-of severe weathe r conditions. In addi-Employee and external communica. taining Santee Cooper assets, primari-tion, the FF.RC has required the in-tion were improved through the ly the 42 miles of dams and dikes im-stallation of a sicen warning system redesign of formats and editorial pounding the Santee Cooper downstream of the North Santee Dam. direction in the company's publica-Ilydroelectric and Navigation Project. A test of the emergency action plan tions. Connections was changed from a Yet, General Construction was able to will be performed in early 1987. quarterly magazine to an as needed lower its operation and maintenance budget by more than $200.000 for FY General Constructior? ongoing ser-publication to present comprehensive treatment of important issues. The 87, usmg innovatise project manage. sjces included clearing, grading, and Source was developed as a more suc-ment techniques. site preparation of new substations cinct bimonthlv feature publication and switching stations; installation of with shorter articles and a magazine The primary responsibility of General the station foundations; maintenance Construction is the safety and of access roads and drainages for tabloid farmat. And the weekly maintenance of the original project. Santee Cooper's 52 subdivisions; and employee newsletter, Newsbriefs, was The lake system covers more than construction services for the Iforry-modified to include a "Close up" 170,000 acres and contains nearly two Georgetow n Divismn and outlymg center page feature, the use of million acre-feet of water.The lakes offices. photographs, and a section for lluman Resource news. receive inflow from the confluence of Corporate Communications 1 the Congaree and Wateree Rivers with It AU Began With Water was a corporate I a total watershed of 15,000 square. Corporate Communications increased multi-image presentation produced to miles. The 56-mile-long navigation its s'ipport in 1986 by providing a tell the story of Santee Cooper's strong l channel was maintained by work timely, accurate, and effectis e flow of environmental commitment and the j forces in General Construction w ho information to Santee Cooper management and protection of remmed floatage and repaired and employees, customers, and the pubh.c. j natural resources. I maintained channel markers and buoys. Recent inspections by the The results include the increased Making Moncks Corner Maimtreet UX4 Federal Energy Regulatory Commis-awareness of Santee Cooper's opera-was the theme developed for Moncks sion (FERC) confirm that the project is tions and activities, attention getting in excellent condition for normal and motivating promotions for Corner's downtown res italization pro-static loads and is well maintained. economic development and energy pm which was supported by Santee Cooper and managed on a full-time management, and imprm ed employee, basis for one year by a member of the Santec Cooper is continuing its efforts community, and customer relations. Corporate Commuiiications staff. to resohe what the FERC indicates to be seismic load deficiencies in the More customers, record peak Local, regional, and national recogni. West Pinopolis Dam and North Santee demands, increased emphasis on tion was received for achies ements in Dam.The U.S. Army Corps of. economic development, rate relief for advertising. promotion, and com-Engin,eers has been directed by Con. economically distressed industrial munication programs and projects gress to analyze, design, and repair the customers, and mcreased productivity corducted by Corporate Communica-West Pinopolis Dam, and constmction in power generation were among the tions This included honors and is projected to begin in the Summer of subjects w hich were interpreted, ex-awards from the American Public 1987. Federal funding has been ob-plained, and communicated through a Power Association, American tained to accomplish this work. variety of communicatmns programs. Economic Deselopment Council, l The FERC gave tentathe approval to a An aggressive adsertis.mg and promo~ Council, Achettising Federation of Southern Industrial Deselopment Santee Cooper proposal which offers tion campaign was deseloped to sup-Charleston, and Industrial an alternative to new construction on port the company's economic deselop-Phmogmphv magazine. the North Santee Dam.This plan re. ment program, with the theme "In quires Santee Gooper to prmide and South Carolina We Will Gise You The maintain for all residents immediately Closest Thing You'll Eser Get h A dow nstream of the North Santee Dam Guarantee...And More" The promo-a tone alert radio that would notify tional program included production them in the esent of an earthquake. of a marketing book!ct, video tape The tone alert system would be ac. presentation, direct mail brochures, tisated by a National Weather Sers ice 23

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y. .,e p ?! ' IIoward Roach Ensironmental Resourc es Adininistrator l Cross Station. Cross. SC "When sou talk about power and people it usualh nicans electricitv It's unique that here we giow realIruit bearing plants aith the help of om eletoir power plant. We use the waste heat froin the generating proc ess to waiin the ./f' greenhouses in our hortic ulture tentei.They talk about being resoun eful. o and I guess this is w hat it's all about. Producing vine-ripened torn.uoes that f,, would otheiwise base to coine from out-of state is as impoitant to some peo e" ple as getting power wben they want it. It's gieat that we can proside both." 'jtj. r v. 's 9 / , }e A L

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i ]' %Y.- Danny Bell f "g( 35@ .\\f arina Owner anci Out<foorsinan A '~ ff Eutaw Springs. SC h (Il ] 4 j

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,DI* w a f.. c,y$ < " Santee Cooper. For inany people, that's the place for some of the best f, fishing. boating. anct hunting in the country.Just goes to show you that. since Wn ., z,G thc lakes were built for hu. lio I>ower back in the 1910s. recication has been %,'d ? m e~ rnuch inore than a by.piocluc t of the power company. Recreation an<l Santee 5 Cooper. They mean the saine thing to inany of us, an<l the value of1.akes .\\loultric ancl.\\larion to South Carolina anci people throughout the countt y is something youjust tan't measure." i a i EM

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_n,. -.~ xg Flood Control data were transmitted to the En-Horticulture vironmental Protection Agency's(EPA) ^#""**** As part ofitt Good control program, Storet data base by in-house co'mputer. convert the greenhouse crop from cut Santee Cooper conducts spilling 0""*" '" '"*"'"es bec use of rob. operations wnenever necessary t Noxious aquatic plant management P maintain proper elevations of the continued as a problem in the lakes, Santee Cooper lakes and to reduce panicululy in the upper reaches of flooding of the lower Santee Rner. Lake 3f arion. li)drilla, in a E' cater Income from horticulture was over "f"gQ'g[g*" e";#[e c[u e $82D00 for the year, with tomato sales E Spilling was required for a total of b only eight dap during the months of [rought conditions contributed to this sin)ng lam m, 6e pm Reyenues are expected to increase dramancally dur-November and December 1985, for an increase. Control activities were con. ing next year's operations because of average spill of 8,535 cubic feet per ducted on 2,639 acres of atIuatic crop modiGcanons, semnd. vegetation during the year. EPA. pproved herbicides were applied by All mechanical systems for energs con-Mosquito Abatement helicopter, air boats, and truck-mount version operated at maximum ein-e Alocquito activity on project lands and spray units. Total cost of the program ciency throughout the year. Backup 1 waters was below the level c,f previous was $39E487 of which 5332.539 was sytems were only required briefly dur-d years because of extremely dry funded by the SC, Aquatic Plant ing, generating station down time. weather conditions throughout the Alanagement Council. period. adure. The horticulture waste heat pmgram continues to attract national and inter-Store than 7D00 inspect ons were con-Approximately 400,000 Tdapia fish national interest, particularly from i ducted in the fise. county area around were produced at Santee Cooper's land grant universities in the' United the reservoirs to gather entomological aquaculture hatchery at Winyah Sta-S tates. data for planning purposes. This sec' tion in Georgetown. For aquatic weed tion is responsible for a program that and algae control, most of these fish Property Management controls mosquitoes while preserving were stocked in Santee CooI>er waters, The Santee Cooper pmject includes ttie em.ironment. including the Winyah Station moling ap;noximately 178.744 acies ofland reservoir. Since the fish were first 51 ore than 80.000 acres ofland and "d "#'#"#""#'. no(Led inJune 1977, expensive water were treated for mosquito con-chemical control amounting to hase a mndnnebudxe area M trol during the fiscal year. 'Io reduce $80.000 annually has not been re-breeding locations, underbnnh quired in the 400 acre resenoir. habitats were cleared, and ditches and acres of shore lands surround the two marshy areas were maintained, drain-Alore than 200,000 mosquito fish, Gam-resenoin and appi;ogimately 2493 ed, and filled on more than 300 acres. bmia affinis, were supplied to the Afos-Biological control with the mosquito quito Abatement section for mosquito Ush, Gambmia affinis, was conducted in larvae control on the Santee Cooper

1. !3'."P*

g .all suitable areas throughout the Pn' lect. CooI>crative bioloE cal Santec Cooper lakes. ?""""" tude i I bcse im Project. research efforts continued with the 2925 recreationallot5 in Santee Water Quality Managernent unbesy coum Camhna,s coop,,,nsais i, ions, i i4, m,,ginai research unit located on the South ba adjuent to privawly owned sub-Samph,ng continued on a regular bas,n Santee Rn er. dis isions,93 comn'eicial lots,21 at the 50 water quality monitoring sta-minellmcous team and U gratis tions located throughout the Lake Genetic enginecr.mg res: arch to pro-leases to public and qu.ni pubhc agen-Alarion-Lake hloultrie resenoir.Sta-duce a triploid (sterile)venion of the cies. Reu nues wilected from these tions were monitored monthly for a Chinese Grass Carp was conducted leases totaled $629,31760 during last broad spectrum of physical, chemical, during de last quarter of the year. Scar.These leases pru ide a wide varie-and biological conditions, and 16.685 ty of recreational f acilities to the pubht. analpes were conducted during the Approximatel) 200.000 fry were pto-year in the unit's laboratory.These duced and are being raised at,the Two hundred and ninety.six signs were aquaculture site. Refinements will be maintined on major roadwan in the made in the hatching pnxess and full m a of du knwe Cooper lakes production of the triploid gran carp ". ping du public to various poina of planned for the commg yr^ ut en on I Aes $1arion and %!ouinie. 51any of theseareas prmide boat launch. ing. fmwl, boat arid anotor rentals, 2M

i 1 i l l l A fishing, waterskiing, golf, hunting, miles of firebreaks were constructed in addition, Santee Cooperjoined camping and many other types of or maintained around young pine sesen other state agencies on the l recreation to the visiting public. Pro. plantations to protect them from South Carolina Economic Develop. perty Stanagement personnel provide wildfires. Resenues from the sale of ment Council, w hich was established routine maintenance and repairs for forest products and agriculturalleases by the General Assembly to coordinate 17 public boat launching ramps and totaled $74,62R economic deselopment promotion for parking areas under lease to the S.C. the state. Wildlife and N!arine Resources Economic Development Department. ..In South Carolina, we will give you Because of potential for investments the closest thing you'll eser get to a in the state by foreign countries, A recreational area of 4R36 acres, pro-guarantee...and more" is the theme of S ntee Cooper participated in the vided through a gratis lease to Claren-Santee Cooper's new adsertising cam. Southeast U.S. Japan Association and don County in the Taw Caw impound-paign introduced this year. As part of the Southeast U.S. Korean Association. ment area of Lake 51arion, was this promotional effort, national developed and completed during the magazines, such as Fortune and Inc., Af arketing of excess generating capaci. fiscal > car. It contains public fishing carried a series of ads to attract new ty and energy to other utilities was piers, boat launching and picnic and expanding industry to South bepm, and a contract was completed facilities, nature trails, boardwalks, Carolina. with the Southeastern Power playgrounds, and parking areas. Adminiuration. I A total of 18.899 acres of prime Peak Demand (MW) Site location and marketing programs wildlife and waterf<ml habitat were CdI*b' *3' were expanded with the addition of leased to the SC. Wildlife and.\\f arine personnel and a computerized data 3 Resources Department on a gratis ums l I base to respond to industrial incluiries, basis for use as part of the state's y,l 3 match site selection criteria, and pro-Wildlife.\\tanagement Program. Adja-g vide support for the economic w cent to Lake.\\foultrie in llerkeley IgH ; deselopment programs of the State County, a 350-acre waterfowl im-uwI Deselopment Board and 35 of the poundment is nearly complete and y.y l m [ state's 46 counties. will provide a waterfowl management m I area for u<,e by the general public. Pro-IN In April, the 1.inde Disision of Union ceeds from the sale of nildlife manage. il l M Carbide Corporation announted ment area permits were put back into 4lm plans for construction of a new air the Wildlife.\\f anagement Area Pro-separation plant near Camden. The I E gram on Santee Cooper lands to be irp S17 million facility will pnn ide 50 to used for planting public dme hunting 2 h, I 150 direct and relatedjob oppor-fields and game food plots, and other 2.t" l g tunities to the local area. Santee v. projects telated to wildlife enhance. Cooper's Economic Deselopment Rate ment.These areas included in the contributed to Union CaibideN deci. Wildlife.\\tanagement Area Program sion to locate the plant in Kershaw prmide sportsmen some of the best Capacity (AfW) County I big and small game and waterfowl olmbr war i hunting in the state. u I i.2m I A forest management plan was 77 i deseloped for the management of the 8? timber, forest, ano xddlife resources t/[n I M i located on tn e Pee Dee generating site ,g ] m Florem e Cour, j y l 633,000 geneticallyimpnned pine During the fiscal > ear, a total of $mI E g] m I seedlings were planted on 890 acres of ny Santee Cooper non forested landt Ap-2mOI } proximately 4,339 acres of forest were M i control-burned to reduce wildare n 1 hazards. imprme aesthetics and 27l j wildlife habitat, and control 2:m I j undesirable species A total of 150 1 29

SPECIAL FEATURE: Economic Development for SC - Priority Number 1 e Santee Cooper's highest priority during 198ti was economic O c,JJ %; N,..a @- M &. w :j.pgp:xm..m development for the benefit of the people of South ,,.m. a*Ni l ~' Carolina. Following the mandate set forth in 1983 by its new l w chairman, Santee Cooper took the lead role within a net. ~' wor k of state agencies and pursued that guiding l philosophy, pooling resources to present the story of South j . virg,,. Carolina to the leadership of comrnerce, industry, and 72 gosernment in esery state in the nation and in a number of foreign countries. s 7 ~ ' 5' '.z ~; \\ g? /'-. 4? The story of South Carolina is a story of South Carolinians, i for the people of the Palmetto State are its most important iesource. Reliable, productise workers; a strong support l structure of state agencies; and Santee Cooper's own ability s gy#A to offer dependah!e electric power at low cost;this com-i 4 S hination enables the utility to offer prospectise industr> "the (losest thing you'll ever get to a guarantee..and moie" l The asserance oflong term, low <ost electricit) is a fun-damental attraction for companies looking to build, ev ) pand, or relocate. Ilut it is the of fer of additional benefits \\h abose and besond the guarantee of reawnably piired elec-l \\

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tricity that pr'mides a strong incentise for industry to take a good hard look at South Cat olina. j v, I .~A ' d' " - fC ' l g '. yL And industry likes what it sees: i 1, '.. 'o

• A State Technical Education system that is te(ognized as

\\., 9 the nation's finest, the benchmark in training skilled ~ wot Lers for industn. I

• The South Carolina ports system, ranked Number 1 in container tonnage in the South Atlantic,and Number 3 for the entire East and Gulf roasts.

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"It is our duty and responsibility tofoster the economic development ofourgreat state. We mustjoin hands and bepartners in progress with all others who share that responsibility" Dwight A.lloider. Chairman Annual hlecting. Santee Cooper Board of Directors July,1985

• The State Department of Health and Environmental Con.

trol, a single, one stop agency to handle all permitting re- } h quirements for industry. gg

• The State Des elopment Board, which, perhaps more than

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any other state entity, works closely with new industry in ),i g T South Carolina, from initial contact to ribbon-cutting and g. beyond. _1. .m W 4 w:-r'sE'iinZ L kos

• The Department of Parks, Recreation and Tourism, which qb

' ' ~

• osersees and promotes South Carolina's unparalleled g

recreational opportunities and resources. 'V g t, :., ge p q. l ? ii11

• The South Carolina Arts Commission, speaking the unisersallanguage of the creatise and performing arts, which draws upon the rich cultural heritage of the Palmet-to State and preserves its magnificent legacy for future l

generations. i

• And, abose all else, the people of South Carolina. People w ho are industrious and capable, with a work ethic that works. People who bring to the workplace an infinite

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degree of eagerness and loyalty. People who work hard O {y.m.f ' C. E te' J % [:,' "' ~ "7-I Q[" ' ' j] j-and play hard and findjoy and celebration in both.The ': ' Q.; M (.' (' e - 4 1 - ' people of the Palmetto State, who, more than any other 7 ...i .a ~ .. M. force, are ultimately the key factors in the growth and suc- -7 l Ml - g,,- m 3 cess of any industry which chooses to locate here. ., :r, v 7 c 4

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~ ~ Q(s* bME=====mune l These, then, are the essential elements that are offered by A4 Santee Cooper in presenting its South Carolina story. They ,,,bj' Q are but chapter headings, however, sening as introductory " '4M, Wn L c[idMhf%igkf:M%] inscriptions to the complete solume w hich relates South

1. ~7eD MS q Carolina's basic theme and features people, power, and the Palmetto State.

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t u. yE,,a s ..k "-99 ~{ Yo ,[* wm ,u :::mr?. ~ a- ~ b Dick Hester M ~; .\\ t amr 7%#" m North.\\lyrtle Beach SC 4 4 "I.ook at the Gram! Strand and you can see the importance of electric power to tourism, the fastest growing industry in South Carolina. Economical and reliable service to the booming beach conununities in and around.\\f yrtle %'t Beach has helped sustain steady growth and development even while other parts of the country struggled through a variety of economic woes. Santee Cooper has helped the Grand Strand become one of America's most popular a 3 vacation destinations and one of the nation's fastest growing small u ban conununities. 9 .. 1 JU. ~ n. 4: Of J

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--rK y_.. i r Katherine and Eugene Koester 1 Customer and WISE homeowners Pinopolis, SC l dj " Energy consenation never meant a lot to us until we learned about Santee Cooper's WISE progratn. We found out how the power company is interested p[ s in a lot more thanjust selling electricity to the customer.They want us to use i, it as efficiently as possible ami are gtcat at helping us to do that..\\ lore insula-tion, storm doors and windows, and an elettiic heat pump hase all added to q. our comfort and reduced our monthly power bill as we restore this 86 year. 4 old home. I think that's the kind of service from a power comp..ny that i everybody desenes." 4

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i i Program for Employee The benefits from PEP - dollar sav-Gnancial incentives to seek the least Partici ation i"8' re mlined aciivities, and safer expensive effective medical ticatment. P wurking conditions - are pn jected to This should lead to lower health care Program for Employee Participation increase as the number of groups and rate increases in the future. (PEP), established in Nm ember,1983, pn>jects increases. The more worked to imprme oserall company employees imohed, the greater the The salary plan was updated through a productivity by better using employee savings aie for Santee Cooper and its total re-evaluation of all exempt posi-knowledge and experience. After a 17 cu stomei s. tions. Such a thorough analysis is done month pilot program, management ap-periodically to allow the pay ranges to prosed company-wide implementation. Human Resources he modined as responsibilities change. i i .\\f ajor changes in henefits and salary Pay-fi>r-performance continued for .The i,El, administrator and coor-I both the exempt and non-exempt P d"' 8d* C*P "}ees options and en-I dinators trained, coordinated, and maintained employee imohement uned that the> were c<nnpensated fan. I l teams tlnuughout the company.These h for work pn6nmed Santee Cooper is a company known groups idenafied imprmement op-iw i for its opportu nities. The " promotion Itpp I Ic. by lie Ith Niaintenance Organizations from within" policy enabled 189 L iil rot i soh ing process to make recommenda-AW was offned to employees for emphnees to advance to new respon-tions for change. the first time as an alternate approach sibibties through the mternaljob to health care. Approximately 20 per. postmg system or by natural Employee training was conducted in cent of employees (hose an I blO pr ogression. seseral areas of the llorry Georgetow n while the remainder stayed with tradi. Dh ision and at Cross Generating Sta. tional health cmerage. The c$impan) ictei ed mer 4.Ont) ap-tion, and groups were expanded in the phcations during the gar and hn ed l Transmission Dis ision and throughout in addition to the existing deferred 132 new emplo>ces. This 4D peu ent Procurement and Stores. mmpensation plan, a 401K plan for inacase in grow th naicased total C"'P "} nient to 1,491. Fif ty one tem-I tavdefen ed sas ings was introduced to i l Since PEP s inception 24 projects haw gise employees better accessibility to porary employees were used to supple. been statted by 13 groups. All 16 pro their sasings. ment the uoikloue and to limit f ull. posals made to management base time employ ment. Sanice Cooper has 1 l been apprmed,and only one project Ako. imjumements were made in the " "' ) I"" ' * "* C' ' " ' C l PC ' ' C " ' - p.n ed to the nation.d awrage of i was abandoned. mmpany's dental plan which included to l incicasing the lifetime orthodontic 1.2 peu ent. i The groups met an aserage of one benefit and reducing the seativ family hour per week. and t> pically spent dednoible. Einployineni decisions aie based on the-and.one-half months on a pn> ject. inten icu s, bac kgiou nd ( het ks. and physical es uninations. in addition to 'I he aserage cost of implementation As a mst-containment measuse, u 3PP.II'd"' 'Ci"M "r skilled nati and I i was $935, with an annual cost of $90 emplo>ces were enmuraged through and annual sas ings of $1,997per project. (lencal positions. Rate Comparison IT 86 Emplo)nient penonnel weie imohed lhon KWH Restential t herage Onn lii the communities and aicas u hele Santec Cooper ser es. I his im tuded i D$IME numemns pmgrams and gmups. sm b w as ihe Emph,3 mem orihe n.mdicap. ped Committee, milege and high i s.,,,, o,,,p E s(hool career d.ns, aint mmoiits Sm N,$ l M E education pmgrinus at sarious state ing m w hoos. an imernai dewk,pmem pn,. gram helped milege graduates gam na, y,, I E Y compam expciicme.and mopeiatiw Sai"3 "C19 9 9,,, peiience inryncmi,d innn e edmation pmgrams pun ided ev gg, I 9 emphneesa nnsin mmp nn i,,,, repiesentatiws to milege campuses Se ""'TiCl 939 3 and appliqmty isits to s as ious Santee w v..a Cooper f.u ihnes highlighted a sue 5'2"' i cewf ul reu uiting pmgiam. 36

The company operated according to Program and, for the second con. craft and technical training pro-the re ised Affirmatise Action Plan ap-secutive year, had the lowest claims gram was corulucted for production prmed by the South Carolina iluman lesel of all South Carolina State Fund personnel. Affain Commission in N<nember participants. 1981 Employment, compensation, One hundred and snenty-lise promotion, and otherjob related deci- } bur Hmith and Fitness magazine and employees completed college lesel and sions were based solely onjob-related Health irorks, a health newsletter technical education courses through qualifications without regard to race, from Trident Regional.\\f edical Center, the tuition aid program. mlor, sex, religion, national origin, are distributed to employees bimonth-age, or handicap, except where those ly. Blood Donor programs at Cross, Safety factors were bona fide occupational N!oncks Corner, Winyah, and Conway TN muion's aber one safetv record qualifications. helped meet the r,eeds of those for large publicly owned elet tr'c i columutlities. Occupational Health ".tilities was chiesed by. Samee Occupational llcalth concentrated on Training and Deve1opment '""P"_"'*8""",,'",'"d",,","",i""' gag ,mp,,y ,co o y monitoring and improving the health Training and Dnelopment prmided safetv award, pr esented by the of employees as well as doeloping ami senices designed to inacase the pro-American Public Power Assmiation, administering related programs-ductis itv of emplo>ces and im prm e for having wo: Led 2$71,ti60 man-These programs include e aluation the dne'lopment of management, pro-hours with an incident rate of.48, well and comrol of the work emironment, fessional, technical, and craft skills. below the national aserage. The mm-medical naluations. and health-Emplo>ces aseraged attending 1.tijob-pany is evaluated annually and com-ielated tranung-iciated courses during the tiscal > car. peres for this remgnition with other j member utilities operating mot e than l 'I he health e aluation program was ex~ Fiheen enginects were enrolled in an two million man hours. Santec Cooper panded to include all employees. In external professional engineering is the onl) utility to e er win this awaid addition to normal screening. elce rn iew program at a local milege to in mnsecutise scars. tiocar diogrann and mloreaal cancer help them obtain their PE license. l tests were administered to employee' in addition to this remgnition. 27 age 10 and mer. A mmpurnired There were 127 internal training pr o-units car ned safets awants irom the health-risk appraisal was administered grann prm ided. which imiuded the National Safetv Coutu il. and 23 for a sampling of employees, and areas of supenision and management. earned safety awards f rom the South inuhs were sh.n ed with thme mmpmer, oimmunications customer Carolina Occupational Safety Coomit. penannek sen ite, cic(trical and elent onic in-Jef fciies Generating Station in cis ni str umentation, met hanical an Award of S! crit for operating Four humhed ami cighty tluce maintenance, power plant operatiom, 1,188.2tio man hom s w iihout a 'disabl-emphnees completal fint aid traininK and lineaew operations. l hese pio-ing injm Cl he Pr esidentN Safen in 1986, more than double last year'$ grams prmided professional amt Awant, for new ami section salen parti (ip.uion. A significant inucase in technical skills doelopment at all w hile operating umler haiardom con-CPR training was also seen.'I he respir-Inels of mmpany operations. disimn without a disabling i,jun in atory protemion program, now in its gg, w,n carned bs 87 news and second > car, continued to expand with Ilighlights of FY 86 imluded unnple. scolous. ) abnost half of Santee Cooper tion of the imtrumentation training employees attending annual training. simulator, start up of the power plant Safe Sen ice Award pins une simulator used as a refresher training piesented to 210 emplo)ces, Safe Diio A new program offered " Freedom program for unit operaton. and ing Anaids were piesented to 136 From Smoking" nening dasses to establishment of computer based drisen of mmpany schides, and 12 employees and their families, and the training progrann for mmputer sof t-emphnees became memben of Industrialli)giene unit omdm ted ware u er grouin. Appioximately 600 s aiioni safety dubs w hic h in ognire rescan h at variom wm k locatiom to employees f rom the Pioduaion done who amid injun in wearing dnelop a complete imentory of Department neceised annpichensise safet dnit es or equipm'ent. As an cv potential themical hazards. hands on training in firelighting ample of the dedication and muunit-in huiqueCl he PCll tramlor mer ment to safet) by employees amt all The medical staff oliered traditional training pr ogram,in accor dam e w iih inels of manage nent, f our emplo)ces sen it es suc h as medical coumeling the Depaitment of Ilealth and En. were temgnized foi ountanding and refural, pre employ ment medical s ironmental Conn ol standai ds, w as leadenhip in unin opnating for l~> naluatiom,and emergenn medical mmpleted by 278 cmployees.The skilled 3ean without a disabling injun. treatment. Occupational IIcahh ad- - ~ ministen ed the Workeis' Compemation 37

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W p s. m 7 g., m i n.' ~i; }, y'*.* {.'f,@, /f 4N Abie bidson b/.j,, '.d e.%m.' Personnel Representative v. r.. .,hcr'.S i NDF. A Santee Cooper YDh.h Conway,SC T. l,1 A o.v.~ a ~ "Every day at Santec Cooper, we get a better understanding of corporate

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philosophy that says that 'Our Product is Energy llut Our Most important QJ$ E.- Resource is People'It takes talented, dedicated, and skilled people to operate fWM ,,v o 5,,. our growing power system. In the company,s recruiting, employment, tra.m-4g..s. ing, and conununications programs, we place the highest priority on human y, resource values.That's because, when it comes down to providing service to )2:gi.} the customers out there, we're only as good as our people" @y i.. W.1..f f, ' y 3 W. ^j

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,;J.(79 " .e 1-' . p *: . p.e,p r - m, ...x v,~ y .s,~. w. c.. l Sandy IIall [ I Data liase Anahst J l Santee Cooper..\\f oncks Corner, SC "In this coniputer age of number. crunching, we work hard to remain user. T l ,;,, n - f riendlv to both our employees and our customers. It's important to maintain perspective on the people in the company who are using this niodern e technology to increase the efficiency, economy, and ellectiveness of Santee Cooper's service. We also keep in mind that our customers are more than retail account numbers, meters, and rate payers out there. They aie people, I 1 uut af ter all, it's for the benefit of people that Santee Cooper is in the power business." 9%% ' I' # v./ ? fr(

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~__ l t l 4 Corpomte Forecasting, Rates, clude testing of new opticai encoder to include certain conunercial applica. and Statistics lui[nnent. tionsWsinforni u n wiH help Santee Cooper achieve its corporate Santec Cooper placed a general rate The Rate section's innovative residen-objectives in rate design, energy adjustment into effect Nmember 1, tial monitoring program using 75 management, and marketing. 1985, which increased customers' rates solid-state recorders to determine the by an average of 5.5 percent. Santee load characteristics of residential The Statistics section tested programs Cooper does not anticipate another customers' hot water, heating, cooling, that will be used to billlarge in-rate adjustment until the 1990's. and total energy use was awarded an dustrial, municipal, and cooperatis e I American Public Power Association's customers on a calendar month basis I A pilot program, to determine the Demomtration of Energy Efficient beginning with the August,1986, bill. l reliability of hilling data from solid-Deselopments grant. Showing good in-ing for, july consumption. This process state recorders, y as extended to in-itial results, the project was expanded fits calendar-month energy sales to monthly operation records, which are used in cost of-service studies and rate lYak Demand Fourcasts (MW) designs. It also a!!ows Santee Cooper i calenitar Year and its customers to match monthly expenses and te enues. y, 14w I 1 Management Information

1. i: I i

?I me Systems en 2.1%7 I E Peripheral c<tuipruent was added to l 4lm m the company's mainframe computer sptem. This included more disk j g;,., I g storage for imprmed data access a new controller to imprme com-2w, "}7 l m m munication w ith iemote locations, and an uninterruptible power supply, a l 4 g batter) based backup sutem to pie-i 2.ile,1 M sent computer downtime due to power ] y iluctuations. g) m { 2h IM M in the area of commercial applica. 2;m IM M tions, the following w ere accomplished: Energy Forecasts (GWil)

• Made significant enhancements to i

calen tar Year applications systems, including pur-chasing and retail billing. y, n i,.a gy

• Added a taxable fringe benefit pio-gram for the papoll sptem.

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• Dncloped a reporting sptem to pro-agu jay vide accurate accounting for me er imentory.

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• Completed a study with Trammis-sion and PEP for a sptem to

'l7 automate impection, pinentisc nem maimenam e scheduling. and woik $,7 actis ity. I 91 l '7

• Designed a sprem to pimide infoi-ir maiion prou ssing onmein,d ana iow i

1 external training programs, tuition Applications of Revenue aid, professional memberships and exams, college degrees, equipment Years EndedJune 30,1986 and 1983 inventory, andjob deselopment. 1986 1985

1. Descloped a s) stem to teroid, track

• Total Operating Rnenue, S 455h00,175

$ 430/i21S83 and report the asailability of substa-Operating bpen ct tion equipment, such as Opnation transformers and circuit breakers, Produt oon 195,057,706 203.3M1M27 that hase been capitaliied and are Pun hased and Inten hanged currently out of sers ice. P"*" - net (213,3N H371330 Iransmnsion 1,991,478 IJ442A77 D '""bu non 2,158,299 IMM o Analyzed and purchased a software Cuuomer Auounts IA49,974 I M 1921 package to meet material control m, - w, gg3 p;t;, formation requirements. Adminmratisc and General 21231,152 23333.imM Alaintenanc e 34396A25 31,1910o3

1. Analyzed a fuels management system and obtained management appt osal lotal Operation and to design a system in house.

Staintenantc hpenses 260,955300 2M231235 Sum,in Lieu of lases 2,176,137 1920Ao9 During the thral) car, the h hnical SupporI staff upgraded all operating lotal Opnanng bpenso 263,131537 261.151 el system sof tware running on the com-pam's two mainirame computeri This P"'"" included a new telecommunications

5) stem which gises access to either Rnenue Madable for Dcht Srnic e mainf rame.The support proyided to and Oihn Purpose.

218,555368 1914o11M5 the engineering and s(icntiht users total Debt Sen nr 150,910,358 121230M 7 was gicall) increased. A inodeling I caw Pasments to Centrat 5,466.375 1466280 system which esaluates the perfor-Prindpal and Imereu on Oihrr mante and clikien(ics of cat h of the Obhgationi 23,759,265 10.167.o17 generating stations was a major ae complishment in this area.1 he olnc e "'I'"' ' d h " De l" '"" " ' I ' automation I>ilot project was com-Painienn. and Odin OWganons 38,419, 2 M%oM Pasments to the State of South pleted su((essfull),and personal Com- %,hna IMO 012 L700MM puter wot kstations were added to the P.nment to die Spnial Resene mainframe based computer sptem. Fund -- nei 1,392,M65 1.201.622 Standaton M1 Alhetanon for Treasury Capit.d imp,os,m,n,, 26,057,7 4 m2o7.922 in FY 86 Santee CooIjer sold an addi. Rnenue Asailable for Operating tional E.lectric Splem Expans. ion g 3,,,y, n g ,33,,;9 5 i;3miny Res enue llond,1986 A & 11 Ref unding l Series, at an aserage cost of 7.89 per. (ent.The proceeds of the refunding bonds, along with other asallab!c inoliics, were used to adsan(c refund m I hinumnian bibren prepaird honi die hnan. 6.d uatrinenn and" dire d.it.i $166,975,000 outstandilig bonds. This ,,1 the Autholin and h.o not been c%amined in Ihr Indrpetutent aiutatois I hn sununan pic.cnn ihe nri irsenuri ai adabic io ibc krs enne l und toi restille(I in an aserage annuJl sas illgs purgmre sut h as pang iding for itu tren in mot kang s apel.d irepsiirmrtif s 11 of $d),9 l1 alid a total Sasings oser the ddirt t itom thr Statement ol Rettn nled l arnings m that 11 trpe rseills t adt lifc ol the refunding bonds of tr aniai oonion ds hi wo a r andm onhnah ru hnin non i a'h iirm""' h $28,126,163. e dr P'r d a ""n a ll"" <"" ' I"' I" "d""rd d" "" * ( ""'" "' """" "" '" hr troneted from futner snenur,and amon ovaoon of de bt dmount.unt During the year, management of daily "P'"" cash deposits was hnprosed through the use of personal < omputer pro-grams and hetter communication with diutilt of fices 43 m o

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Financial Stat'ements South Carolina Public Senice Authority Final Year 198ci 46

Report of Indegndent Certified Pubhc Accountants 'I he Aihisor) lloaid an<l floard of Ditectois South Carolina l'uhlic Smite Authorit) Colutnhi.i, South Carolina We base exarnined the balante sherts of the South Carolina Public Seisice l Authority as of June 30, I!)86 and I li)8.*i, and the related staternents of scirnested c,trnings, att uintilatetl earnings teilnested ist the busincu, atul changes in financial positioli lor each of the three ) cars in the petioct endedJune 30, I!)86. Our exatnina-tions uric Inade in accordant c with generally ar(cpted auditing standaids and, arroldingl) induded nut h tests of the accounting iciolds and such ollier auditing procc.utes as uc ton-l Sideted Herenary ill the l ( lt t u nista tu es. Ill out opitiioli, the liliatu ial st.itet"ents tolerical to ahose picsont faith the liti.incial position of the South Catoima Public St nic e Authotiti as of June 30, !!686 and ItlM.*>. anil the irsults of its opelations and 4 hanges in its lin.itnial positioli lot c.nh of the thier st als ill the priiod rndedjune 30, lilN6, its ton-l lottnity with gericialb aucptrd at-counting piinciples applied on a ron. shtent basis. fuw@.g Coopen & l.dn and Coluinhia, South Caiolina Augmi 211, itH6 l l 1 l l 17

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~,

1 South Carolina Public Service Authority' June 30,1986 and 198ry*. Assets ' ' ~ 1986 1985 l,,. (l~housands) - , Utility Plant - At Cost:' i Electric plant in service, $ 2Al8445 $ 1,955.788 ' 1 i Construction wo:L in progress

• 57,232 77.658

'1btal 2A75,777.' 2D33.416 ~ , Less acmmutated depreciation' 1 352,252 290E69 Electric plant - net 1,723525 .1,742,577 Nuclear fuel-net '22366 31,211 ,= Utility plant - net 1,745A91 1,773,788. Other Physical Property (Net of Acamulated Depreciation) 390 400 ' Unexpended Funds from Sale of Electric System Expanolon Itetenue Bonds 63,593 l 4M67 Debt Service and Other Special Funds 271,771 217.218 Orrrent Annets: ' t Cash and securiiles held by trustec 33,125' 35,688 Atcounts recchable,less allowance for doubtful accounts of $3.619D00 in 1986 and $1.202000'in,1985 51367 40h90 Accrued interest receivable 1483. 2373 Imentories, at aserage cost:. Fuel (coal and oil) 41,100 51/ill Materiah and supplies 5,911 5,393 Prepaid expenses 2,024 1,407 'lotal current assets 135310 137p62 Deferred Debits: Unamortlied debt expense 22,045 ~ 22.218 Unarnortlied loss on refunded debt .154 466 127,593 Costs to be retmeted from future revenue 168,426 14 @ 63 0ther 2.727 1,230 'lotal deferred debits .347p64 291/i31 .'Ibtal $ 2465,319 $ 2,49fil69 - nar.amammamenens a l \\ ,lhe secompam6ng ni,tes sie an integral part of the Anancial statememe.

• 48,

I l 13 abilities and Capitalisation 1986 !!)M5 (Thousands) Imag%rm Debt: Priority obligations 62385 61,175 Electric System Expansion Rnenue lionds 1,740,1445 1,720375 Subtotal IA03,230 1,781,750 . Electric Revenue lionds 135A00 135.000 Capitallied lease obligations 74538 77,258 Other 543 I;ill li>tal long term debt 2A13,311 IS9M;115

1. css:

Reacquired debt 2A80 2A23 Unamottlied debt dinount and premium - net 18,387 20,116 1.ong term debt - net 1,992 #44 1975,871 Accrued Interest on inngTerm Debt 71519 65Ji31 Construction Fund Liabilities - Accoums Payable 6,632 11.238 Other Non current Liabilities 4,410 2/iti2 Current IJabilities: Commercial paper 50A00 25,000 Anounts p.nable 22519 2&212 Customer delmsits 4,435 3,700 Autued sums in lieu of tases IA76 1 /11 9 Other 6,935 3,106 li>tal current liabilities 85,265 61;137 Commitments and C<mtingencies Deferred Creditu Unamortlied gain on reacquhed debt 833 7ti9 Nuclear fuel settlement 1%I28 15,955 Total deferred ciedits 16,961 16721 Capital Contributions - U.S. Gmernment Grants 34,438 31,138 Accumulated Earnings Reimested in the llusiness 353,750 32,i.585 i Tbtal $ 2365,319 $ 2,196169 =, _. l 19 I

Statements'of Accumulated Earnings' Reinvested in the Business South Carolina Public Scryice Authority Years EndedJune 30,198R 1985 and 1981

• 1986' 1985 198i

/ (I housands) q. 4

• Accumulated earnings rei'mested tri the business

. $ 325,515 $ 281,297 $ 232,182 Feginning of year Reimes;ed earnings for the > car 30,106 45,918 50,115 Total 355,651 '327,215 282737 ' Distribution to the State of South Carolina

• (See note below)

I,901 1,700 1,fiOO Accumulated earnings reimested in the business - ' end of > car $ 353,750 $ 32 MIS $ 281,297 Note: The distribution to the State of South Carolitia h determined utilising a calculation formula te. quired under the Indenture which is based 1 essentially on operating cash flow and man-datory resene requirements. Such calculation varies substantially from reimested earnings for the year which includes among other things in. terest income earned on testricted funds and, where applicable, an allowante for funds used during comtiuction. e 4 i 1 .I Y / e 1he aienrnpanung'n "tes are an integral part of the financial sutementi. 50.

Statements of Reynvested Earnings South Carolina l'uhlic Senice Authoilty i Yean EndedJune 30,198ti 1985 and 1981 1986 19M5 19Ml (I housands) . Opecating Ilesenues: Sales of elettricits $ 451437 $ 124361 $ 354713 Other operadng rnenues 3,463 2,261 ~ 1,9 811 'Iotal operating rnenues 455,000 130/122 35K699 Operating Expenses: f Operation espeme-Pioduction 195,05.1 203;iN3 161315 l'urrhased and intenhanged pimer - net (213) (l;171) 17,172 Tramminion 1.991 1812 1,720 !)istrilmtion 2.158 IJi65 I;10 8 Cmtoiner anounts 1,850 IE2ti 2;11 9 Sales 284 162 97 Administratise and general 25,231 23333 20,210 Maintenaru e espeme 34396 31,193 2R7tM 'linal ope ation and inaintenatur expenic 260,955 259,233 2.16;lx9 1)epiniation 63,764 tiljil0 17;l72 Suam in lieu of tases 2,176 1,920 1,750 'liltal operating espemes 326,H95 322,793 2x531i Operating income 12&l05 107M29 7AINS Other income: Intenc's income: Other funds 26#33 26.059 11285 llorrimed funds 5,459 16,$x3 3 1/670 Other stuonne (expeme)- net (146) (125) (108) i ' Intal other im orne 32,146 12,517 lit 251 160,251 150;ll6 122,439 Interest Charges: Inteirst on long tesin debt 150,221 159/131 160,259 Allow nue for funds med durlog comtimilon - holismed funds (61,29th i Other 5,983 8,205 3.571 l 'Iotal inicrest i harges 156,207 167839 10233I 4,081 (17,493) 19.905 Cmts to be recmcred from future revenue 27#63 67,207 30310 Other deductions - net (l#01) (3,766) Reimested Earnings 5 30,106 $ 11918 5 30. l15 e l$' M$ $ $IlI! SellIk h!I h000 $*5 ESW IhII !! $ l,I Sehh $1 l II lIsIlll haO klslkk'lII$ hj 5 51 ~.

Statements of Changes in Financial Pbsition South Carolina l'ublic Service Authority i Years Endedjune 30,19'841985 and 1984 i 1986 1985 1981 i (Thousands) r l Funds Provided Byi i Operations: s $ 50,415. Reinvesteti carnings $ 306106 $ 15S 18 Charges (credits) to reimested earnings not preniding or requiring funds: Depreciation 63,764 61/140 47;172 (til 296) . Allowance for funds used during construction i Amortitation of debt dinount and expense 2,281 2,483 2316 Amortliation of gain or loss on reacquired 1 I debt - net 1,228 (14fi) 37 Costs to be reancred from future resenue (27#63) (67,207) (30310) i ' Intal from operations 69316 42,718 M,531 3 Sale of bonds / notes 195,955 189,060 75,000 4 i inng term purchase agreement ~, " ! Jill i 'Increaw (decrease) in accrued interest on long term ] Nuclear fuel settlement 173 479 (7.151) debt 6,167 (10,529) Ill08 'lotal funds prmided 271All 523.039 77.7H1 Fsnds Applied To: k Increase in utility plant 35#57 56256 91/i57 i Retirement of long term debt 177,475 493,268 M3,291 Intrease (decrease)in unespended funds from the sale of Electric S) stem Espamion lionds 17,226 (61,Hil) 4/i88 Im rease (decrease) in debt sersice and other spet tal f unds 24553 (17/i33) (97,929) I increase (decrease) in unamottlied debt discount and espeme 50 (1,770) 396 j Detlease (inticase) in tonstruction fund liabilities 7/>06 4/)51 3,935. j Principal payments - capitalised lease obligatiom 2,716 2/il5 2,568 1 Distribution to the State of South Carolina , 1,901 1,700 IJiOO Imacase in unamurtlied loss on refunded debt ' 2H.237 56160 { . Other - net 1,370 1,290 (529) I 'Ibtal funds applied 296,991 501,406 92/i37 Increaw (Decreaw) in Working Capital $ (25,180) $ 21,633 $ (I1856) Increaw (Decrease) in Working Capital by Component: Cash and seturities (2563) 9,710 5;133 Auounts rescisable,less allowance for doubtful I accounts llA77 9s0M (1/ 87) i Accrued interest recchable (1.190) 372 (63) Imentories (9,993) 9D50 (3,376) Other cur ent assets 617 (193) 211 j Accounts payable 5493 (u201) (3,200) i Customer deposits (735) (809) (303) Accrued sums in lieu of taxes (57). (151) (307) (10,000) Commercial pa er (25,000) Other current I abilities (3,529) (80) (2068) increaw (Deefeate)in Worldng Capital $ (25,180) $ 21/i33 $ (IIE5fi) J 1 s 5 t he suompanHntt notes sie an integral part of the Onandal statements

.-.g - m -- - - - -- ^-" - l l %g g Qg gg IIoin future rncinue. Alsin, the inethod of tak ulating June 30,19M6 the allowaru e for funds used during tomuut tion p A1:UDC") was t hanged to rcilco the net (mi of bor. j i towed futuh used during tonsuudion rather than the formularyinethod nnlomh folkmed.'lhe aom. i j Note I - Summary of Significant inmenis of cmt to he conc ' d liom future inenue e 1 Accounting Pralicies: i { ami the adimtinents to AFL'DC resulting from the im-l pleinentation of STAS Nn 71 follows, I A - Setem of Anounts - The aco>unting recorth l j 'of the Authority ate maintained sulntantially in ac. 1986 19M5 1984 i (ordame with the L!niform Sptem of Anounts . llimmands) l l pinctibed by the Federal Energy Regulatory Corninh-Cmn to be reunen d I I e i) Plant Capitalliation and hiaintenante - Additiom to plant are snorded at (mt, w hkh in. y '[,, g j' I ""l[,"# dudn mate:ial, labor, earthead, and an allowame for mer deln sen ke.,,... $ 27#63 $ 11,159 $ 30310 funds used during tominaction. 'Ihe onts of repairs F.undalintnnt onts ? and minor repla<cments arc (harged to appropriate af ter in sen ke date. 2 tin IN j operallng atul maintenam e npcmc. 'I he,unts of renewah and betterments are capitalised. Ihc 27#63 67,207 $1 *>10 i original smi of utilit) plant retient and the cmt of j rernmal Ins sahage ate s harged to auumulatril depreciation. AICIL, - i f12722' l"3 l C - Depictiation - Depredation is oimputnl on } a straight fine hash mer the esumated mcfulihn of $27#63 S 51,185 S 37,913 the sariom dann of il c plant, Annual degnedation 1 pimhlons, npreoni as a pettent of asciage i t .ilrijirdable utilin plant in senkc, w,n appiosimately Note 3 - Unespended Funde from Sale of 3.31 for each of the thirc ) cats in the period endnt Espanolon Ihmde, Debt Senice Funde, 4 i june 30,19M D - Rnenue Reuignition - Substantia!h all Other Spedal Funde and Cash and Senarisin: ~ wholnale and itulmtrial enenun are billed and Unnpendal fumh f rom the sale of npamion inonfed at the end of ca(h month. Rnenun hom bomb, debt sen it e funds, other spnial fumb aiul t ash l treall(mtomeri are inogniini on a monthl) nde .nul securitin are hehl and maintainnt bs timercs and i h nis I url tma aic orOnint in operating npemn ag their me intrk ted in au onlanc e w ith appik able pro. mmumni. s blom of saglom trust hulentuin, bon <linolutiom, F. - Pemion Cmts - Emplmen of the Authorin ime agreemenn, and the Enabling At t hu lutled in the l ate onried bs a State Pemion Plan.uhninktered bi South Ceuolina I.ns; Sm h huuh tonsht pihn ipalh of the South Caiolina State Rothement Sperm which ' imntninus in pncrnment sn uritin nn oni at annor ( pimkin for emplmre and Authorin sontt butions Ilird unt, w hk h approximatn maiket. Contrihudon ratn.uc niabikhnt bi State statutes llalam n in the satlom iumh atJune 30,1986 and { lhe AuthoritCs mntributiom to the'St.uc Pcmion 1985 kele; Plan wrec $2#linno,52.601000 aml $2,11Inno for l the 3ran endnljune 30,1936,1985 amt 198 8, inpcc. 19Md 1985 thch. Data onurtning a<ount hentlin aint prmion i lund aurts sclating toAuthoritt empimen,uc not (Ihousunh) l l asailabic. Unnprintal fumb ( i F - Allowame for i umb Usnt During Comtruc-198216 thunh (Com 'M b $ IN317 $ 21,171 don 'Ihe Allowaine for i umb Usnl During Con. i staudhm fAI UDCl b the net une of hoirown!lumh Gencial impo nement I unds 45,046 21196 i i mnl during mmttmtion. 'lotal $ 63391 $ 16.367 i G - Amordiation - Unamoitlent debt dhmunt, j lnnniurn alHi eXperHe ate bring Jinortired to lin'ome ,mm.m m i mer the tonn of the irlated drht hsun Unarnostiini })phgSenlgyRnpggp[undg galm or foun on eclutnini debt asc amortlini to in. Indennne lhmds $ H,926 5 H F80 E 219,1N13 220,133 onne as innpaont through the rate making prm ns, 3ds i.unkm lbmds go m4.di) m m d ,n m,,d ihr n n, d d e h,e m g,, e dim d IWh o 23361 W99 sg ] Capitallmponement l und 2 #10 228 6 Note 2 - Costs to be Merm ered from Future Revenue: 1.mc rumi(Cential spiend 459 136 Contingenn rund 1.169 1,156 Iti Fhtal Year 1981 the Authotit) full) adopted the prenhiomot Finandal ArmuntingStanilanhiloant Nudca Fud %rkingiund KlM9 2377 j htatement Nn 71 (SFA% No 70, whkh pinoibn the Sununn Plant an onniing prindpin to he folkmnl by enudo subini Dconmniuioning futul 3,2M2 Dio? to a er tain n pn of regtdatlon. I he inmt signilk anI lin-se,y,,Ikg ypy,pggg ,,.,72 ie.ni on the' Authority was to tr(ognier tiening dif. i 'lotal $ 271,771 5 217.218 s rrmn betaren unn as drunnlin the rate making "' "~~ " l pt f M Ns atul(osts deterfilinCd in at (nedamc with N generall) au cptni an ounundupon dcht sen k c and peind det 'Ihr Authoti. h5 'D u*r .tC$ ratn are ntabhshed base Roenne rund $ 2KlMM $ 30.612 i +n.idngrundiniuhnnenn.Deperd..nonhnoiom. Sped.dann,cruna u37 wr6 4 sidered in the ont of sen k c e aludation/l hh enuin in j timing dificirtu n ermgnited as onts to bc tron ried to.d $ 33,123 ') 3 % 88 1 i b'l I

i Not)4 - Summer Nucle:r Station: "9"".niuloning(ouuner the ternaining hfe of the facihty. I hoc tmts aie being rconned tinough the T he Authority and South Caiolina Elect:ic and Gas Authoiit)N ratn. I he cuimaird dn onuniuioning (mis (SUMD are partie to ajoint ow nenhip agreement at e perimlicall) inicwed and adjuuments acc onied as prmiding that the Autinuity amlhCE&G shall own the 'apps opriate. Summer Nuc lear Station w hh undn ided intant of 'I he supplier under the niiginal uranium supply 33 h 9 aml 66 % 9. sespn tisely. hCI'&G is udch . contrac t breac hed the rontrac t in 1975 duc tu uranium inpomible for the drugn, tonstiut tion, operation, mar ket conditions. SCEAG initiated ac tion sccking i spctilic perIorman< c of the contract prminiom, ami a mamtenantc.and onomminioning of theSummer Nuclear $rariott and the Authority n obligated to pay 'imal settlement was reached and appnned by all par. i its ow nenhip v iarc of all(mts rclating thereto. At]unc tics in April 1980. Ily terms of the order apptming the seulement, the omt t imp'med umfidentiahty ulwm the '50,1986 a uf I m3, the plant accounts induded apprmimateli S I' 5,tm0JHm and $ l17,619,000,inpcc. letaihof thesettlement. Ihe Authority hasinched J 1 incl, scpresenting ihe Authositvs inintment,in-apinmimately $10,21:t000 in cash as pas tial setdement i duding Af t'DC,in the hummer Nudras Station. of thelawsuit. Additionally, the agiccment pimhin for Nudcar f uel costs are being arnos tired based on dehsciy of some uranium,long ter m dehscrin of l cnct gv npended w hu h indudn a < omponent for nluijunent and senices (induding comenion and luci, naimated disposd amis of spent nudeas fud.1he e f abr scation) at a diu ount. amortizatium are included in luct expeme and aic Anu,unts te ched due to the breath of umnac t h,nc reuncied through the Amboritis rain Deunmnis been imluded in deferied nedin and will be applied sioning oniduots to take the plant out of senice in as a irduttion of uranimn fud ontCI hk in omiuent I i the f uturellor the 5ununer Nudcar Station aic - with 5CIMrs tiratrnent punuant to an order f rom the ntimaint to bc $ lli million for the Authorirti% South Carolina Public Sen h e Commiulon.The ont of ownershi based on a 30 scar mcful hic with derom. nudrai fuel pun based has been reduced by appimi-i minioning npcued to uinunente in the scar 2013. mate!) $ 1D00D00. 'I he Authority u oun for its shaic of the culmated Note 5 - temgili tm Debt Outs:anding: , june 30 1986 19 9 11 humandi) Printits obligationt l.In trit Rnenue llomb, Sriin of 1930, hearing internt at VJ01 and duc Ph6 to 1993 $ 9,295 $ 9,580 IinirIc Rnenue lionds, $ctin of 1967, bearing intrint at 1.109 and duc 196 aint 2006 49,135 19,765 l 1In tr n Rnenue lionds, Rrfmnhng Scrin of 1973, hearing ) internt at 59 and duc 19x6 to lim 9 3,955 -1930 'lotal Psiorits Obligatiom 623M5 61.175 ) I In titi 53urm INpamion Rnenue llonar 1973 Sciin. hcat ing 6ntet nt it um 5"01 to 5 '. 4 and duc 19%6 to 1993 and 2013 98315 93390 197 8 Sriin, heat ing intrint itom 4 1 64 to 6 h y aiul duc 19M6 to 1999 and "01i 10l#15 1 % I20 1 1977 Refumbng 5crin, hearing internt i hum 6 % 9 to 64 and duc I'm6 to 1997 aml 2002 and 2016 196,230 199h63 1977 serin, bearing imernt hom I lo'i to 5 '. 9.md duc 19% to 2002 arn! 2017 113.290 11:(733 197M Serin, hearing internt ! rom l 709 to 5%q and duc 1986 to 109M and 200M and 2018 197,055 19MD23 1979 Setin A, hearmg internt itom 5 % % to 6%9 and duc 1986 to 2003 and 2009 and "019 107,280 10M,265 1%4 Sriin A hearing intotot liom MAny d lo 980 9 hiulihic 19"'6101995 and 2002 30,150 7331S l i98iscon A,hoongimnnihmn u w ' to 9 % y and duc 1936 to 1997 and 2002 32,445 75D00 i i

• 1981 Scrin it braring imnnt hom 9 % 1 to ll % 9 61D00 1981 $ cries C hearliig interest f roin 10 % 9

) to 11 % %, and duc 19M6 to 1991 5.580 10000 l

• 1982 hrein A, hcating ininnt hom 9 4 4 l

to ll % 9 arni duc 198n to 1991 10,180 IMD00 j

• 1982 5crin it hearing intetnt f rom 9 % 4 4

i to ll 4 fi and duc I'md io 1992 5,990 ISD00 j 1982 Refunding hetin, hearing intrint from 7 4 910 9309 l j and duc 19M7 to 199 i and 2002 and 2012 and 2022 298#00 291D00 194 Ref unding Scrin, hearing imnnt f rom 5 % M to 9 % 1 and due lim 6 to 2000 and 2003 and 2022 176,215 17ti215 51

19MSA Refunding Series, hearing interest inun l i . 5 % 4 tolt20% and duc 1987 to 1999 and 2003 amt 2021 177,1645 177#15 j 1986 A&ll Refunding Series, hearing intesest h om 6 % % J to M10% and duc 1991 to 2008 and 2019 and 2020 195.955 ] lotallilectrit S stem Expamion knenuellomis 1,740845 1,720575 i i Elc(t e ir Roenue lionds,1985 Ser ies hearing intes est i from 6% tor 70% amiduc 1986 to 1995 135400 135/HH) l Caphalised Subordinated I. case Contrac is, pay able 1986 to 2015 74.538 77.251

i.,

Other 543 1;lli 'IntallamgTerm licht $ 2A13,311 $l#98;ll5 i

• See u hrdale below for erfunded debt.

I 1 he Authorit) utilires piments of debt lunes orldnall> mL lou of appimimatch $161/Hlofl00, debt ju lmaril) in Hnancing itu omtim tion piogram, sen k e reductiom w ill iotal $ 151,273/100 mer the I he Authority refunds and ilricases debt primaiily refutuhng period. Refunded bonds are retlied as the)

i as a means of redming debt sen kc, therch) postpon.

Inatmr, or at the earlics: rallabic date funn the pm. l ing or reducing future elecerit sate adjmiments. a ceds of gmernment obligatium held by the Refunding Ahhough aiham e refundings h.nr t esulted in an Ti mtec. j Amounts outstanding. original lose on refunding. and the unamottlaed lose at June 30,19N6 follows: l t Refunded ] Ilefunding Refunded Ammmt Original Unamortlard l Inoue Bond. Outstanding ime ims ) finomana9 1 1977 Refunding l and Spn tal Obligadon Refunding 1971.md 1976 Serics "$ 99;l15 $ 11,24 i S 7,772 $100JH!O of the 19NI Series C 1982 Ref unding and r ] $127JW)0 of the 1982 5ciles A 227JH)H 62SMH 62388 i 1985 Rrfunding $150,000 of the 19M2 Sciits 11 15HJ)00 30370 25.N89 i $13nJH10 of Ihe 1981 Sciles 11 198M Hrtunding and $ -10JH)0 of ihe 1981 Series C 179/lon 2785:1 2ti361 l Cash 11rfrasam e 5 20J)00of the 19M2Sesics A 20)HHI 2,763 2.652 19MOANilNeluiHhng $ 12,72 5 ofth r 19X0 SClirs d 1 $ -12jH)0 ollhe l9MI Sriits A [ j $ Olflouof the 19M1 Snics11 $ 1.420 of the 1981 Serits C i l $ 7#20of the 19M2 Setits A l $ 9.010 of Ihe 1982 Sriirs 11 16fi975 2&812 29.102 l lotal $882;120 $ 163#30 $ 151M6 I, "Im ludes prim ipal outitamling on Spn lal Obligation Ref unding and t riunded homit l bf Audlolitb boint ilH14*Illules nin hic for (rilain tesuktiom,the'nunt signilkant of s hkh air: 3r.us b at least equal 10 N9 of the Authot ht s 4 a l he ande,n>. men.mn fo nt.o.h n,.nn.md no-tnennn us *nnedon On Ha~ 1 a hat ges adequale to prm ide inenun sulH. Inncdin Hu al)c.ns. I he Audun hs in n luni-auhhdona p,nh) npansio l t irnt, among nihti things, to p n debt son h e odn1 things,du, Audunk)p1;omhit among donsulung when due on the prim kg obhgatium and n-i I pamion bonds to matricquh rd p n ment, I nginen in HHn that nel nienun us de J w hen due into the Ir.nc imni and Ihe a apital Huntiin r.u h suu rnhng Hu al scar aHn die huponement fund,and to p.n the onn of dan on w hk h sua b.ukhnonal hoinh.u c sohl 4 opnation atutinaintenamcof tlu Authosith to.nulinthnhng du l.un of(anin shinisuo 4 I clnirir 9itrm and all nn ru.n 5 te sain. ' *"U."fHu at )c.n)ahn die ndniatnMu "U d" dl Cd' dh" '"'l"l"C "' dd d"' I Untlu teplairments, and trairwah threro. onnmrittalopnatnonof am pimes plantio l 't hr Anthority h pinently rcquhni to pa) an. pay thcont of umstimdon' lwhhh.uldi. o nuall) into Itu apital impn nement fuad an ilunal npamion bonds h,n e hern, air heing. amount uhk h. together nitti the amounts m air then authorital to be tunni, shall be at ( Oh I a -,,-------~~---n,.,n--n n--- .,,-~r--. ,--..,-~--r-,-,.---nc------

+, n -,, .a 7 xc c, - l 7 + ~

~

~~ ' ~ v s c' t least equel to the suth of the amounts required ' ' own,45% of the second unit at Cross and the Pee Dee ,in such liscal year for (i) debt service on the

• ' generatingctatio'n6 subject t'o obtaining financing

, priority obligations and the expansion bonds - 1 guaranteed by REA, . Future minimum lease l a)n,ent$ ori Central leases, . then outstanding, being issued,or authorised y i but not >d (iii) payments into the cy,italim-ct haued,(ii) pas ments into the lease,' atJune 30,1986, werer s fund. an , Years end'ingjune 30:.,

Amount pnnement fund.

.i s Staturnies of electric toenue bonds, tions and expansion bonds during the > priority obligae.' ears endmg T '.1987 O (Thousands) a '$ 5,466 g June 30,1987 through 1991, are as followsg. ,. gggg, v 5,402 " Irriothh 'l 'A 'I989 5,545 lueuric ' 8' ). Renaue Ohugations k G ,1991 5,258 l .nona. bpansion'nond. Tei.1 (thousands)

• Thereafter 85,677,

t ', $ 27450 -June *l,l'm7 $ Is.W s 14.110. 'lotal minimum lease pay ments 112,406 junestim .. t s.sm - 15,780 tatso Less, amounts tepresenting interest.. t 37,868 ,c JuneSti m 1000 . lum . So,sio ,' C,, !!alance atJune 30,1986 $ 74,538 ,, June so, two t s.w ~s7345 - ,s1,445 .i', ~ ~ ~ n ~ ~ ~ ~ ~ ~ '" ~ ~~~~ Junc$tIwe is,soo 19.ino - 'stsso Note 8 - Commitments and Contingencient I,aan s 67.w s na,m, s 15:345' The Authority's Construellon lludget, as adjusted ' for known changes, prm ides for expenditures of ap. Note 6 - Commercial Papert - 3roximately $8.6,100,000 during the fhcal )' ear endmg une 30,1987, and $157,600,000 during the following The lloard of Directors authorised the issuance of two years. ~ r-commenial paper not to exceed $50,000,000.The < pased o'n a Siav 1985 loa'd forecast, the lioard defeb paper will he hined for salid corpotate purposes uith , red imlefinitely the construction of the second unit at a term not to extced 270 days at an annualintere i rate the Cross Generating Station. In conjunction with this not to exterd 9 % %. As ofjune 30,1986 and l985, the def erral, $3,766/)00 oliontraci cancellation charges. cfIccthe interni rate on outstanding borrowings wa5 were incurred and t hargrd to reimested earnings for 4.17% and 4351, respecthel). During l986 and 19M5

1983, the aserage elfccthe internt rate was 4.729 and

+ Durino 1982 FERC notified the Authority that the 1369, the aserage amount outstanding wa' Pinonolfs West Dam and the North S. mice Dam, $ 13529.Ono and $25/100/100 and the aserage matut it) . whit h form a pari of the Authorit)*: ciertric utility was 13 and 21 dan,inpet thely. antem, ponnied marginal schmfe stabilitt under ap. At June 30.19M, the Authorits had a Resolving C echt Agreement with varlous lenders of $50/)o0,n00 pilt able dolan carihquake criteria. FERC Indicated. Thh Agreemept b used to support the Authorlt)'s h. ' that remediaTmeasurn should be underuken by the cuame of conunculal paper. L nder the Agrectnent Amborin un pnn ide an increated loci ofichmte - ,tabilliv.The Authority engaged an enginecting firm ihe Authorit> is requited to pa a fee equal to % of l'i, io perihrm studin and planning to determine the.. r on the totalline of credit, plus)% of 14 of the aserage primipal amount of the paper outstanding. No loam , extent and cost of work netenarv to correct the design i weaknenet'l he initi.d engineer)ng study has been were ountanding umler the Agreement atJune 30,1986. t ompleted and mbmitted to l'ERC for its rn lew. , Until FERC has completed its inlew on the pro-l Note 7 - Cimtracts with Central poicd nunHilcationuo the Pinopolk Wnt Dam and Electric Power Cooperative. Inc.: the ino used ieniedial nicaturcuo he undenaLen b> the Aut mrity on the Notth Santee D.un,it b not 'I he Authorit) has icaic contracts with Central Elec. poulble tu ntitr, ate the extent of work necenary to itic Pdwer Cooperathe,Im. cmcring a steam electric, corInt the design weaLuenet flated on the faus as generating plant, tramminion facilities, and various eley turtenth exht, management belinn that an other facilitin. 'I he lease terms range from nine to t ml inmrred by the' Authority related to the dams) twentynine ) cart Quar terly lease pas ments are b,ned woldd not materially affeu tiie finamtal pmition of j on a tum equal to the imerne on and principalof the Authorit). i Centraliindebtedncis to the Mural Elecitifkation Adminktration for fundi horrowed to comtruct the ahme mentioned facibiles. The Authority has an Note 9 - Major Customerst option to purt haic the leased properties at any time during the period of the lease agreement for a sum . S,dn m du. Admtiy'uwo Nonmmnu rs for the equal to Central : indchtednen remaining outstand. ded.M 30xm ing on the property imohed at the time the option b g9g 3933 39gg netched or to return the propet ties at the termina. [Hmmamh) tion of the lease.The Authority planuo nncise each and nery o nion toacquiteownenhipof such Cemrd Eleutic Power f acilitien pr or to expiration of the le. net Power supp-Cooperath e. Inc, $ 193,000 $ 173,000 $ 131000

1) and tranunhilon sen kn are prmided to Centralin -

au ntdam e wlih the Power Sutem Coordination and Alumax of South Integration Agreement datedjanuary 19,1981, rhh Candin.o Im, $ GM/M)0 $ N6.000 $ 79.000 agtrement ahn prm idn that eat h part) will hav an option to share ow nenhip of futuie generating f,u llitin to be tomtruned b) the other, Central has mh hed the Authority that it will exerche its option to Sn o

$N As ofjune 30,1986 - (in Thousands) i i $rries 1976leeue 19n64leeue 19 ell A lemme IMIRleeue '1961Cleeue 19A2A lowe 19M2R lswe l Call Dese July I,1986 July 1,1990 July 1,1991 ' july 1,1991 July I,1991 July 1,1991 July 1,1992 Original h4asurity Int. Itate Amt. Int. Rase Anne. 'Inc. Rase Anne. Int. Rase Asne. Int. itase Amt. Int. Rate Amt. Dese Inc.Itase ' Amt. '19N6 S'le 793 s 1987 afi$ M43 e 19AM 5N0 903 19m9 i',M) 970 two 600 1 9.10 - 1991 613-1.19 3, IW2 (L10 1,lMS 12AM) 1J13 12fH 2313 !!r83 6 60 1.273 12't. 1,170 1230 2.390 II M 1385 1*J 6 ti't. 1370 12 % lJi33 12m 2#93 It'M) 1.513 1993 sual I.%3 llJM)- $J)90 12.10 1.Ml3 19*Hi 6 70 1.3M0 11.10 4Jwm 12,20 2Jain 1997 tiV. l ti93 II.20 ' 4.220 1230 2?)3 IWM

1. Pl.

IA23. 1130 4RM) IW9 11.40 SJ):Me 2tNMI II's, 12filo 2f Nil 13 % 20)MM)* &#12 2003 13 % 2nJHN)* 2ts) 4 ?!NI3 12 Y. 4dijHitt* ' Vinsti ti% 20.750' l 2007 21hM4 2t M el 2010 Imt. 42.723* 2H11 i 2012 2013 9% 2MJH u t* gull 2013 Imnt 2n/ n n >* 2niti 700 39.944* 2017 2014 Wil'e [ 2020 14 % 421HN) 12hD WyMM)* - 1 2"21 10 t, SoJnut* I iV. lixuwnia 2022 l i't. 177Junt* 1300 lisukup* h e % crete !Ni7 li 42.723 41JNN) 2fNUMN) l 4 4,l20 l%lA20 lYyllH i

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c 7 97 / 4 3, Schedule of Bonds Outstanding ~ As oGune 30,1986 (In Thousands)' 14aturity ' 1950 Issue l'967 Issue ' 1973 Itefunding Issue - 1973lasue' ,1974 Issue ' 1977 Itefunding lasue ~ 1977 Issue 1978Issu Dese. [ July I

• Int. Rate Amt, Int.Itsee Amt.'

Int. Rate : Amt.' - Int. Rate Amt. '. Int. Rate Amt.. Int. Rate Amt. ' ' Int, Rate Amt. Int. Rate A i 1956 . 2.70 a 290 .4.10 600* 5.00 ' 920 520 1,130 600 1,170. - 4% " 2.975 4.40 470 4.70 1.* ) 1987 ';. 2.70, 300. 4.10 ~685* SD0 965 1,185 600: 1,250 J 4.90 1120' 4% 490.4h0 . 'l/ , 520, bl,250

• 15'8 8 2.70 310 410

,715* &OO 1410 c520-600 1,325'. 500, 1280 ' 460 515 4.90 1, 1,405, J ;510 1989 2.70 480 4.10

• 575*

.MO 1960 l5%. L I,315 610 3,450 4.70 540 5Do 1,: 1990 2.70 1,900 4.10 420* 5% 1580. 620 1,505 ' 520 3,620 f430 570 105 1, 1991 2.70 1950 '4.10 440* 130 ' I,455 - 6%' I,590 ' 530 - 3,830 490.. ,590,110 la 1992 '2.70 ' ' 2005' 4.10 455* 'i40 ~1330 630 ' 1,695, l 140 4435 100 625 515 14 ] '1993 2.70. 1 2#60 4.10 480* 140 1fil5 630- ,1,795 f5% ~ 4,260 - 510 660 520 - 1; 1994 4 10 2h05* - 5% ci,700 * : 640 1910 . 160. 4,480 120 720 5% 1,. .-1995 4.10 2,720' 5% '1,795* 640? 2D35 5.65 4,710 130. 785 530 1, 1996 4.10 2345' 5% 1,900* - 640 .2,155 $70 4S95 - 140 830 135 ll + '1997 '(10 ' 2S75* '5% 2,125* ; 6 % ~ 2,295' . 1 70 1265: 145 890 140 l> 5% .2#10*. ' 6%' l '1998 4.10 3,105* 2,435 '5% 5390* 5%. 935.540 Il 'l999 ' 4.10 1245* 5% - 12,245* a 6% 2,590 '5% A915'. 5% 1905 1 70 if .2000 4.'10 3,395* 5%' 2,375* '6%~ -2,750' 5%' ~4275* - 555 1965 5 70 If ' 2001 .4.10 33459 5% 2310*, 6%.. 2 S20' 5%. fx665* 560 1,130 5 70 2J 2002 4.10 - 1705* 5%1 .2,655' 6%' 1110' 5% 7D50'. 560' l.220 170 - 2, 2003 4.10 3370* 5% 2 /11 0

• 6%'

3,295* '_600 7,490*. 5% 1,295*.570 2J 2004 4.10 4D 45' 5%,. 2,970* 6% 1505* 600 7,950* 5% 1380* 170 2; .2005 4.10 4.230*. 5% ,1140*, 6% &730* ~. 6DO 4450' ~5% I,460* & 70 21 2006 4.10 4,420* 5%- 3,325' 6% 3,9508 600 8S 70* 5% 1.570* A70 2) 2007 ~ 5% 3.515* 6 % 4,205* 600 9,400* 5% 1,795* 170 7; 200M 5% 1715* 6% 4,470* E00 0.950' 5% Isis

• 170 71 J

2009 5% 1930*. 6 % 4,745* . E00, - 10,565* ' 5%. 2,080* 5% 8; ] 2010 5% 4.155' ' 6% - -5,045* 600' 11,210' 5% 2,225' 5 % MJ i 5% 11320' 6% 1350* &OO 49M0* 5%

• 2,180* 5%

' 9J 2011 'l 2012 5% 12,1Mo * ' 6% 1695* E00 5,315' 5% 2,300* 5% 9,5 2013 5% ' 12,880*' 6% 6045*' 600 ,5,625* . 5% 2,500* 5% 10,* 2014 6% -20Dl5+ - 600 6,010' 5% 2,640* 5% IlJ 2015 600 9.515* 5% '21D65* 5%. It! 2016 600 11,285* 5% 21,235' 5% 121 2017 5% 34,5M0

• 5%

13,1 2018 e 5% 50) 2019 i

• 2020 2021 2022~

i j i I ~!otal j Outstanding 9,295 49,135 1955 94.315 104f)l5 196230 111290 197J . Ilonds Redeemed 4 1o63086 6905' 2,465 8#95 1685

4985 18920 1,710 2,1

' Bonds Refunded to (> 30 86 0 0 0 ,0 0 0 0 i Otigmalluue 15.300 51/>00, ,12D50 100E00 109h0() 211150 115/100 200J ,*Tetm Bonde

• • $5#00000 maturity at 9%% and $11690#00 sinking fund redemption at 9%W,

4 hee M hedulc of kefunded ilonds, b '58

19794 Issue 19m44 Issue ISBIA Isome 395tC lasise 1981A lamme. 1982B Immue 1982 Re(meding leeue 1955 Refineding lesme ' 19u5 los e 19454 Refund.ag lasme 19nh4A5 Refussling lasue Tasal . Ammeng Tosal Principal. lateswas Debe lua. Rose Ams. Bes. Base Ams. Bas. Race Ams. ImL Race Ams Isa. Rase Ame. las. Base Aans. Iss. Rose Aems. Ins. Race Ases. ImL k no Aans. lat. Race Amos. Res. Race Ams. niesseense Seren.e 5's. Iv25

• LMu Him 705 es!5 lu%

76c 4% IJ75 9% %5 5%. 4tu muu liks. 27&M 14gM3m 174.4e4 155 1865 190 575 7JIo two 10% - 7M5 1u00 1.%5 luun 655 7% 415 6% 415 6% 1U00 5% 310 242MO 144bl9 371299' 500 1.lui 9 sat sw auG 760 !!!c leh5 10 % ' 1395 10 % 740 7% 470 6% 4eo b% 115uG 6% 335 30,310 142.165 172,475 170 Ll50 u no ID15 4 13 645. Its thi, llDO 1J35 low n15 , 7% 505 71su 4W - 7 10 11.%0 .6% 3c0 31.445 14nl40 17!385 5% ~ Livs 9 20 Llw $30 - 9W ' 41 % 1970 11% - 1 *5 10 % .9w sum 545 7% 525 740 11500 700 $H0 32bilu 137.962 thb42 5s3 1.240 9%. 123. a45 IvM 11 % 1.las 11 % 2.105 !!1m the0 ' 120 5x5 7% %5-7 7u. 13.% 0 7% 410 . 6% 1pw 359uu 13452 171352 iw l>m 9.30 IJW, he0 3.165 11 % 1.195 140 e35 7% 14 5 500 43.5m 7% 440 71m 2 65 37.485 13.1#45 170330 395 L3eo 9 40 1.475 n%. ' 1 2'15 ano 690' 690 6W E20. 115m 7% 470 7 15 7,3MO Sg45, 13n419 109.4b4 t,im _1425 9 45, 1415 a30 1.435 -~ 4% 7w a2ft 705 3 40 11300 ILOG,, 510 7_% 72Pm 40485 127A90 144375 mo5 - ~ L490 9% 3.'%5 900 _ 1400 9% 815' a40 706 37D It50s) . E20, 2.425 7 40 ELSMO 42.500 124.7W 167.259 Cle 3305 9AD 1330' 1 15 ' IJ75 9%. st:0* min 825 a40 2A30 7% 7h45 3 @ 70 12lA23 152393 m20 th45 - 9MO 2.12U* sJld. 1.970 9% 975* Amo 900 E60 2.390 7bo 7995 3U00 119.500 152400~ ~ C*3 - 1.43 9Mu 231p*, 9% 2.19 0* ' 9%- ,1/t70* 9fm l#ed 1 70, 49HO 770 5s25-31230 117.197 152.427 035 lAll 9m0 23o0*. 9% ' 2.43u* ' - 9% Ll65* 205 1.lte 8% 8(405 7AO - 6365 37.750 ll4A19 152.429 6 40 - L915 SMO. tal0*. 9% - 2.7U0* ' 9% L275* 930 1.lW 7A0,,11200 40#50 11$54 52J04 645 '2#25 Sim SpaP 9%. 2.995*. 9% 139 9 9% EJed* ' S00 IIA 20' 790 's35 '41330 199A39 1503b9 '6% 2,135 9.30 %365* 9't. [4000* 9% 1325* 9%. ' 2.710* ' 9fM). In090* 790 900 44A30 - 105.9M 3 % 568 6% - 2.2tc 900 Im70* - 9% 239u' 900 15,390* fuso 4495 4 mas 25 ' 102.549 15a374 0% 2.390* ~Shu 3400* 9% &#1Mu' tiso 5070' 51379 99001 1 % 571 (%, 2340* , %60 ' .1275* 20A90* eVJO ',1475 55490 95 pas 4W578 6% 2i=95* 960 157v 9% 1320* noo Aglo. Sa.563 90565 129.430 g% 2.sh5* ' tem 3#95* 9% - n %5' K10 EL390 41.135 44306. 121445 a% 5010* 9.te 4.250' 9% IJs55' $10 4905 41945 Sh4M6 129.431 cg' glece 900 4h40* 9% 24W '. 814 7.465*. 4 @ 65 82.46N 12R433 i 4% ' 3,335' 400 . 5#7u* 9% 2.265* R00 EDho* 50,250 - 7%229 124439 6% 3325* 960 1755' 9% 2.505* afM) - 14480* .5435 7%753 12%438 gg gg;5* e und 4.10 9 9% - 2.750' Eco 13315' 57.360 , 72 #74 12%434 6% 1720'. , S70 ' 4 415' 9% 3425* au0, 12.230' 61305 14136 129.441 ) 6% ' o w* 9 70 146V .9% 1515' 9 20 4745* 8D0 2D96* 61.705. 61983 12418 t r. 437u. s 9 70 - 5645* 9% 1655* S20 7,700* E00 2.260* 64160 54469. 12429 9 70 .173x5* 9% 4p20' 6% ista* - (% 437e* % 70 1%575* 9% 4.445* _ lLOQ_ 2.445* 74A35 _ 54300' 128,935 ham 2A25* 7%285 49635 - S10 21445* 9% E465* noo 2E50' '84940 . 44#06 ~ 12E920 1135* i[ J $70 23.425*

• 9%.

4330* - .R20 29.520*, ano 1740* 87.720 S7306 '12 % 26 12 O 46 C% 2 %550* ' 2 970 25A15* 9% 6#60* . 9 20 59.725' 7DO, '2475* '91275 30,348 ' 12 % I6 9.70 5431)* 9% (L715* ,920 1 4L200* - 104.245 21D49 - - 12fil94 170 6287ua 9% 62620' 125,590 6028 s + 13L415 i 107.2Mu 344% ' 32.445 15a0 10,1M0 ' , A9W 294#00 17tL215 13ws0 177#45 195,965 '1334230.- 3,3h%728 ' 5J07,951 2.720 1325 555 e 0 0 0 0 0 0 0 55910 144,420 15432u, , 159410 0 0 0 0 0 542975 0 42325

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of D. Board m t nyvi 7,- --} trectors ,ot !.f j - I 'a, . h.f .e s ~ 7 *~ ' S t 1 c E s Iherght.t liasin James 't. tarer \\talter T Gm IM AMerman,)r. Mwr t 12 ltennett v r.- r 5 t ~; h-s r e, r e'f' d

• A V.

i + T' i s; m ) J1. \\\\' shmgton, til l Gemgr lYJar:rs,Jr. John 1.%2es Eugerw F tMner ilandd M. Robertum Mart,n M. Ihomas a i Giariges in ihe Boartl Department of Parks, Ret reation and Dwight A.Ilokler Robert D. Bennett If arold %!. Robertson l Tourism,and was its first chairman Pu kens and liitton IIcad Columhu Walterboro a Two(hanys on the board of directors from 19ti7 to 1977. Chairman - l'ormer Elet tric - Reprewnting ist l' occur:cd during the past fival > car. Ca> perative Exnutive Congrenional District i On %f ay 19,IIcnry R Ric kenbaker of James T. Gricr f OnJulh },198% Dwight A. Iloider of h"'".f representing the Sixth (he tunmnton began sen ke on t Spartanburg on-George W. Jones,Jr. Af anin Af. Thomas ha Vice Chairman Inris Georgetown Pi(Lens and Ihhon licad bland began grenional Dntnct. He replat cd - Reptcwnting 4th - Representmg florry County - Representing Georgetown ( senitc as hairman, completing the B ntnano ann ng w a Congsenional Distnct unexpired term of Robert S. Dasis of ""' ' P "" "E oh" E. % fit ' I l Columbia.who rctired foll< ming !5 I afin u " tears of wn i< c. T hat term omtinues J L Washington,!!! Clemum - Reprewnting 5th Orangeburg until %f ay 19.19'Nt Ri< kenbaker is a Clarend.m County 2nd Vice Chairman Congresuonal District - Reprewnting 2nd e agri businen tradcr and has sened as - Reprewnting 3rt! Congrenional Diserit t I Ilohler, w ho owns and operates scscral < hairman of the South Carolina unit Congrenional District Eugene E Oln.er businenes in the southeast, had most of the National Cotton Coun<-il and in ifoncks Corner retently wned as thairman of the a tariety ofleadenhip roles in t om-BG. Alderman,Jr. - Reprewnting Bruketcy N t;'h Carolinajobs honomic munity and eisic organizations. %!anning County Desclopment Authority. Prior to that, - Representing 6ih he had sened in the South Carolina On Aagtnt 21.198fi Director CongrenionM Distric t f f louw of Repreentaines, was in-J 1. Washington. !!! of Orangeburg strumental in estabhshing the M'. died following a bricf illnew 60

Management Advisory Board William C..\\f escher 11.Roderick Afurchison Richard W. Riley President and Chief Executive Treasurer Governor Officer Emily Brown J.Travis hfedlock W. Andrew Burke Corporate Secretary Attorney General Vice President - Economic Development Albert Boyt,Jr. Grady L. Patterson.Jr. Group Af anager-State Treasurer i l Kenneth R. Ford Transmission l Vice President - Earle E. 5forris Jr. j Finance Bill.\\fcCall,Jr. Comptroller General Group.\\ tanager - l Joe C. Norman Production Operations John T. Campbell Vice President - Secretary of State Commercial Operations Robert E Petracca Group.\\f anager - Robert E. Rainear Property & Transportation l Vice President - Systems Engineering & Operations l Byron C. Rodgers.jr.. Robert V. Tanner .\\lanager - Vice President - Station Construction Production Joseph P. Thomas E Eugene Williams .\\ tanager - Vice President - Design Engineering Gosernmental Affairs Ronald 11. Ilolmes Curtis L Williamson Atanager - Dis ision Vice President - lluman Resources llorrpGeorgetown Disision 1 Jerry L Stafford Charles II..\\fcGlothlin.Jr. Director - General Counsel Corporate Communications John E. Bishop Controller For Additional Infiirmation

Contact:

Jerry L Stafliird Diiector Corporate Commu nications One Risensood Diise .\\ font ks Corner South Caiolina $11 i1-0398 (80:D 7til-lO31

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