Shale gas driving power prices down: Alcoa

May 06, 2013 | 08:47 AM | Michael Cowden

Tags  Alcoa, Klaus Kleinfeld, shareholders'l meeting, shale boom, oil, natural gas, hydropower, power rate negotiations gas exports

CHICAGO — The shale oil and gas boom in the United States is helping to reduce electricity costs and give big power consumers, such as aluminum smelters, more clout in rate negotiations, according to Alcoa Inc. chairman and chief executive officer Klaus Kleinfeld.

But Kleinfeld warned that policymakers should be cautious about granting too many export licenses for natural gas until the country’s reserves are better understood.....

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