Century Aluminum signs two-year power deal to keep Mt. Holly smelter open through 2020
Century Aluminum of South Carolina, Inc., a wholly-owned subsidiary of Century Aluminum Company, announced that the company has signed a two- year extension of its contract with South Carolina's state-owned electricity provider Santee Cooper. The agreement will allow the Goose Creek, SC plant to continue to operate at half capacity.
The US-based aluminium manufacturer said in its press release that the deal with Santee Cooper has a term through December 31, 2020, but can be terminated by Mt. Holly on 120 days' notice.
“Under this agreement, Santee Cooper will continue to service 25% of the Mt. Holly load at a standard cost-based industrial rate. The remaining 75% of the power required to serve Mt. Holly is expected to be sourced from a third-party supplier at market prices that are tied to natural gas prices,” according to Century Aluminum.
Century Aluminum said it will continue negotiations to buy 100 per cent of Mt. Holly’s electricity requirement at market rates to allow the smelter to operate at full capacity and employment in the future.
Century’s wholly owned Mt. Holly aluminium smelter has a production capacity of approximately 231,000 metric tonnes of aluminium per year.
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