Market divided on impact of Felman power rate
Apr 04, 2014 | 04:01 PM
| Daniel Fitzgerald
NEW YORK Silicomanganese traders are divided on whether free-market spot prices will be negatively impacted after Felman Production LLC won a special electricity rate for its New Haven, W.Va., smelter.
The West Virginia Public Service Commission (PSC) has authorized a plan that would give Felman a discount of up to $9 million per year off its full electricity rate from supplier Appalachian Power Co. Inc. (APCo).
Letart, W.Va.-based Felman began idling furnaces at its New Haven plant in May, citing the "decline in silicomanganese prices over the past several months combined with rising manufacturing costs, such as electricity" (amm.com, May 20), and proceeded with a full shutdown of New Haven smelting operations in June (amm.com, June 28). ....
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