Ormet wins partial relief on power rate

Oct 02, 2013 | 05:13 PM | Michael Cowden

Tags  Ormet, Public Utilities Commission of Ohio, PUCO, electricity, power rate, American Elecetric Power, AEP, Hannibal plant Steven Lesser

CHICAGO — Ormet Corp.’s future wasn’t 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 company’s October 2013 bill and continuing through December 2014, according to an order dated Oct. 2.....

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