Cold weather lifts Century’s first-quarter power expenses
Feb 21, 2014 | 03:17 PM
| Michael Cowden
CHICAGO An unusually harsh winter has driven up power prices for Century Aluminum Co.s smelters in Kentucky, according to company officials.
The Chicago-based aluminum producer had forecast that energy prices for its smelters in Hawesville and Sebree would be in the low-$30-per-megawatt-hour (Mwh) range, but the severe weather means energy prices will be about $50 per Mwh in the first quarter before returning to an average of about $37 per Mwh for the rest of the year, company executives said.
"We still think (the previous forecast) is a good number. ... That having been said, in the first quarter our power costs will be a good deal higher," Century president and chief executive officer said Michael A. Bless said during a conference call with analysts Feb. 20.....
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