Santee Cooper's board today approved a $2.9 billion budget for 2014 today.

The spending plan is flat compared to the past two years.

It includes $2.1 billion for the state-owned utility's electric system, $829.9 million for capital expenditures and $8.1 million for its water systems

Slightly more than half of power system budget is allocated for fuel and power purchases from other generators.

"Santee Cooper has worked hard to keep costs down. I'm pleased that we could put forward a budget that reflects that hard work, especially in the face of increasing regulatory requirements and fuel costs," said CEO Lonnie Carter. "We are focused on diversifying our generation mix, to maximize our ability to control fuel costs and deliver reliable electricity not only in 2014, but for decades to come."

The 2014 construction and capital equipment expenditures include:

$583.0 million for the nuclear station expansion in Jenkinsville;

$62.5 million for renewable generation and environmental improvements; and

$184.4 million for the transmission and distribution systems, and othe rsystemwide improvements

Santee Cooper's directors approved the budget at their monthly board meeting today The public utility is based in Moncks Corner.