Kentucky Coops Tentatively Agree to Power Provider Setup
Posted on Apr 29, 2013 in Financing, Rates | Comments Off on Kentucky Coops Tentatively Agree to Power Provider Setup
Century Aluminum of Kentucky, Big Rivers Electric Corporation and Kenergy Corp. have agreed to a framework for providing market-priced power to the Hawesville smelter located in Hancock County, Kentucky. Under the agreement, which is subject to further negotiations and approval by various third parties, the coops would purchase power on the open market and pass it through to Century at market price plus additional costs incurred by the coops. The parties hope to finalize the agreement before the expiration of the current power contract on August 20, 2013. To read the parties’ full press release, click here.
