08 OCTOBER 2012Therepublic.com
Century Aluminum reviewing new electricity rate plan for Ravenswood plant
Edited by : AL CIRCLE
1 min read
Century Aluminum says it's reviewing a plan offered by West Virginia regulators as part of the quest to restart Century's Jackson County smelter.
The state Public Service Commission ruled Thursday that Century's Ravenswood plant could pay a special rate for electricity for up to 10 years. That rate would hinge on aluminum prices.
But Century would ultimately remain on the hook for the actual energy costs. Stronger aluminum prices would make it much easier for Century to cover those costs.
Appalachian Power would provide the electricity. Utility officials say they're still reviewing the decision, but consider its approach a reasonable plan of action.
Both companies commented Friday. The smelter shut down in 2009, throwing more than 650 people out of work. Retirees later lost their health benefits.
The state Public Service Commission ruled Thursday that Century's Ravenswood plant could pay a special rate for electricity for up to 10 years. That rate would hinge on aluminum prices.
But Century would ultimately remain on the hook for the actual energy costs. Stronger aluminum prices would make it much easier for Century to cover those costs.
Appalachian Power would provide the electricity. Utility officials say they're still reviewing the decision, but consider its approach a reasonable plan of action.
Both companies commented Friday. The smelter shut down in 2009, throwing more than 650 people out of work. Retirees later lost their health benefits.
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