SC state-owned utility OKs exec raises

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

The Post and Courier of Charleston reports the utility's board had approved 3 percent pay increases for the executives in April, but gave bigger raises to two 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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