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Century Aluminum rejects W.Va. power proposal

Tuesday, 9 Oct 2012 | 3:05 PM ET

CHARLESTON, W.Va. -- Century Aluminum Co. is rejecting a proposal meant to aid the restart of its West Virginia smelter.

The California-based metals producer announced Tuesday that the electricity rate offer from the state Public Service Commission falls short.

The utility regulator proposed allowing a special electricity rate for Century's Ravenswood plant for up to 10 years. But the commission's ruling, issued last week, also kept Century ultimately responsible for making up the difference between that rate and actual power costs.

More than 650 people lost their jobs when the plant closed in 2009, and the company has since cancelled retiree health benefits.

Century says it's looking at other ways to restart the plant, and is also asking the commission to reconsider its decision.

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