Seattle rate hike could deter investments

May 09, 2012 | 05:06 PM | Frank Haflich

Tags  steel, Nucor, Seattle, Boeing, John Ferriola, Frank Haflich

LOS ANGELES — Industrial consumers in Seattle could face a 30 percent or greater increase in electric power rates by 2018 if the city adopts a proposed series of hikes that Nucor Corp. says could discourage future investment in its steel bar mill there.

A "strategic plan" transmitted this week to the Seattle City Council by Seattle City Light (SCL) includes an "average 4.7 percent (annual) rate increase each year over six years," a utility spokesman said.....

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