It gives me real pleasure to provide some much-needed good news: As a member of PDEC, you have been assigned as a plaintiff in the class-action lawsuit brought against Santee Cooper and SCANA regarding the unfinished V.C. Summer Nuclear Power Plant expansion.
On March 17, 2020, this case received preliminary Court approval of the settlement, and PDEC members will be receiving payments from the class-action settlement in two separate installments. We expect 70% of the payment to be distributed before the end of 2020, with the remainder issued in 2022.
As a member of PDEC between January 2007 and January 2020, you are part of this settlement and can expect future payments, which will be distributed in one of two ways:
- Members who are entitled to settlement payments of $25 or less will receive bill credits from PDEC.
- Those entitled to receive payments over $25 will be issued a check directly from the Court Administrator, made payable to the member on record.
Earlier this year, you should have received a notice from the class-action Administrator regarding your opportunity to “opt-out” of the settlement. If you did nothing, you will receive a check or bill credit from the Court Administrator. We have been advised that you should start to receive the first round of checks or bill credits in late November or early December of this year. As noted, the second and final payment is expected to arrive in 2022.
Should you have any questions, please reach out to the Court Administrator listed on the notice directly. Please note that PDEC is unable to provide any specific payment or member information regarding this settlement as it is being handled solely and strictly by the Court.
Thank you for your support of Pee Dee Electric Cooperative and we look forward to continuing to provide you with safe and reliable power, at the lowest cost possible, for many years to come. PDEC has diligently worked to lower your power cost and we are excited to announce this coming payment, as well. I hope both this news and the payment or bill credit itself, find you well, especially during these uncertain times.
William Fleming, Jr.
President & CEO