Ormet wins partial relief on power rate
Oct 02, 2013 | 05:13 PM
| Michael Cowden
CHICAGO Ormet Corp.s future wasnt immediately clear after the Public Utilities Commission of Ohio (PUCO) granted the bankrupt aluminum producer a fixed rate for power but denied its request to buy electricity on the open market.
PUCO approved a monthly power rate not to exceed $50 per megawatt hour (MWh) beginning with the Hannibal, Ohio-based companys October 2013 bill and continuing through December 2014, according to an order dated Oct. 2.....
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