W.Va. rules on Century Aluminum electricity rate

Oct 04, 2012 | 04:14 PM | Suzy Waite

Tags  Century Aluminum, Public Service Commission of West Virginia, PSC, Appalachian Power, Ravenswood, West Virginia, aluminum, London Metal Exchange Suzy Waite

NEW YORK — The Public Service Commission of West Virginia (PSC) passed legislation Thursday to give Century Aluminum Co. a special rate for electricity from Appalachian Power Co., but it rejected the Monterey, Calif.-based producer’s requests to pass along costs to other customers.

"The comprehensive, long-term special rate mechanism authorized by the commission in today’s order rejects Century’s proposal to place the risk of revenue shortfalls on other Appalachian customers. It places that risk instead on Century, and requires Century and its parent company to enter into a corporate guarantee and undertaking with Appalachian to assure payment of any revenue shortfalls and to otherwise comply with the conditions of the order," the PSC said in a statement.....

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