31 DECEMBER 2015www.live5news.com
Santee Cooper board authorizes new Century Aluminum contract
Edited by : AL CIRCLE
1 min read
The board of directors of Santee Cooper authorized management to execute a new power supply contract for Century Aluminum's Mt. Holly plant.
The three-year contract, which takes effect on Friday, January 1st, specifies Santee Cooper will deliver 100 percent of the plant's electric needs, according to a release from the company.
“This new contract essentially continues terms Mt. Holly has had since 2012, utilizing a combination of Santee Cooper and third-party generation, which already has saved Mt. Holly $130 million,” Santee Cooper president and CEO Lonnie Carter said in a statement.
Santee Cooper announced on December 18 Century Aluminum had accepted in principle an agreement for the utility to power the plant, thereby reducing by half the estimated 600 layoffs that had been scheduled for the days leading up to Christmas Day.
The deal also specifies that beginning February 1, the utility will provide 50 megawatts from its own generation resources and deliver 150 megawatts from a third-party source. For the month of January, Santee Cooper will provide all of the plant's power needs, bridging a gap in securing out-of-state transmission capacity Century Aluminum was unable to secure for that month, the release states.
The three-year contract, which takes effect on Friday, January 1st, specifies Santee Cooper will deliver 100 percent of the plant's electric needs, according to a release from the company.
“This new contract essentially continues terms Mt. Holly has had since 2012, utilizing a combination of Santee Cooper and third-party generation, which already has saved Mt. Holly $130 million,” Santee Cooper president and CEO Lonnie Carter said in a statement.
Santee Cooper announced on December 18 Century Aluminum had accepted in principle an agreement for the utility to power the plant, thereby reducing by half the estimated 600 layoffs that had been scheduled for the days leading up to Christmas Day.
The deal also specifies that beginning February 1, the utility will provide 50 megawatts from its own generation resources and deliver 150 megawatts from a third-party source. For the month of January, Santee Cooper will provide all of the plant's power needs, bridging a gap in securing out-of-state transmission capacity Century Aluminum was unable to secure for that month, the release states.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
US aluminium producers to go slow on their smelter capacity cut plans
Next articleSlowing demand from China weighs LME aluminium down 0.3 percent
Grow with
AL Circle
