Warren Steel seeks lower rate to restart
Jun 10, 2014 | 05:45 PM
| Michael Cowden
CHICAGO Warren Steel Holdings LLC wants to restart and ramp up production to 1 million tons per year, its maximum capacity, if it can wrest a lower power rate from Ohio regulators.
The Warren, Ohio-based electric-arc furnace (EF) steelmaker wants the Public Utilities Commission of Ohio (PUCO) to approve an initial rate of $50 per megawatt hour (MWh), one-third less than the $75 per MWh the company said it was paying before it shut down.
"Without a competitive power rate, Warren Steel does not have a near-term plan to restart operations," the company said in documents filed with PUCO earlier this month, noting that a lower rate was necessary for the "long-term viability" of the plant.....
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