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Power Company, Smelter Reach Tentative Deal on Electric Rates

Tue, 04/30/2013 - 9:47am

HAWESVILLE, Ky. (AP) — A regional utility has reached a tentative agreement with an aluminum smelter on electric rates that would keep the facility in western Kentucky open.

Media report that Henderson-based Big Rivers Electric Corp. and Hawesville-based Century Aluminum announced the agreement on Monday. The entities had been trying for months to negotiate terms for a new power contract, and the aluminum plant had given notice that it could shut down if an agreement wasn't reached by August.

The proposal would allow Century to purchase power at the wholesale price on the open market.

If finalized, the agreement would save 650 jobs at the plant.

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