SC state-owned utility hands out executive raises

MONCKS CORNER, S.C. (AP) - The South Carolina state-owned utility Santee Cooper has approved pay raises for five top executives.

The utility's board had approved a three percent pay increases for the executives in April, but gave bigger raises to 2 of them at Monday's meeting in Moncks Corner.

The executive vice president for financial affairs, Elaine Peterson, is getting a 13 percent increase, to nearly $304,000.

The executive vice president of corporate services, R.M. Singletary, is getting a 9 percent increase to about $261,000.

President and chief executive Lonnie Carter's salary will be nearly $417,000.

Board chairman O.L. Thompson says the increases were needed to retain and reward good work. The executives got no raises last year.

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