Checks and bill credits are a part of $520 million class-action agreement
If you were a member of Lynches River Electric Cooperative for any period between Jan. 1, 2007–Jan. 31, 2020, you may receive an unexpected bill credit or check this month.
These credits (for amounts of $50 or less) and checks (for amounts greater than $50) are the result of a class-action settlement involving the failed nuclear construction project at V.C. Summer Nuclear Generating Station. The funds are being paid by Santee Cooper, a state-owned utility that partially owned the project.
The lawsuit argued that consumers should not have to pay for the nearly $9 billion in costs that were sunk into the failed project. Lynches River Electric Cooperative was neither a party to the case nor had any ownership in the project. However, our members were affected because some of the power we deliver to you is purchased from Santee Cooper.
Before the lawsuit went to trial, the parties came to a settlement agreement which called for $520 million to be returned to customers of Santee Cooper and members of South Carolina’s electric cooperatives. This means some of our members are due a share of the settlement based on their power use during the referenced 13-year period. Eligible members have already received the first of two settlement payouts in 2020.
Lynches River Electric Cooperative did not calculate the payments. They resulted from a court-approved process after the settlement agreement was reached. Those who became members after Jan. 31, 2020, are not included in the settlement.
Frequently Asked Questions (external link)
If you have any questions regarding the settlement process, you may contact the Settlement Administrator by calling toll-free 1-(833) 947-0894 or .