Alcan pays out $110M to Powerex to settle claim, recalls power deal

Dec 30, 2004 | 07:52 AM | David Brooks

Alcan Inc., Montreal, said Wednesday that it paid $110 million to power company Powerex Corp. to settle a long-running dispute dating back to the collapse of energy giant Enron Corp.

The settlement arose from the cancellation of the Kemano Completion Project, under which Alcan had assigned to Enron Power Marketing Inc. the rights and obligations to deliver a certain quantity of power to Powerex, a subsidiary of BC Hydro, Vancouver,....

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