PSC’s plan 'positive' for Ravenswood: analysts
Oct 05, 2012 | 05:34 PM
| Suzy Waite
Tags
Century Aluminum,
Davenport & Co.,
London Metal Exchange,
Tim Hayes,
John Tumazos,
Very Independent Research,
aluminum,
Appalachian Power Co.
Public Service Commission of West Virginia
NEW YORK — Analysts say Century Aluminum Co. could restart its idled smelter in Ravenswood, W.Va., after the Public Service Commission (PSC) of West Virginia came out with an order Thursday regarding a special power rate.
The Monterey, Calif.-based aluminum producer has spent much of this year working to restart the smelter, and put forth a proposal to the PSC earlier this summer requesting a power contract that would protect the smelter from periods of weak London Metal Exchange prices and also that its payments be supplemented by a number of sources, including contributions from some residential customers of Appalachian Power Co. (amm.com, May 16).
On Thursday, the PSC passed an order that would allow for a special rate but rejected Century’s proposal to pass on the cost to other customers (amm.com, Oct. 4). ....
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