Century Aluminum has announced a tentative agreement with Big Rivers Electric and Kenergy Corporation on the framework for providing market priced power to the Hawesville smelter.
According to a company press release Monday morning, the electric cooperatives would purchase power on the open market and pass it through to Century at the market price, plus additional costs incurred by them.
Century officials said the arrangement should have no impact on the current rate proposal of Big Rivers, or the related flow-through rate proposal of Kenergy. Both of those proposals are currently pending before the Kentucky Public Service Commission.
Officials said the framework is subject to the negotiation of definitive agreements and approvals from various third parties. This includes the boards of directors of all parties, the KPSC, the Rural Utilities Service and others. Officials said the parties intend to move as quickly as possible to finalize the agreement before the current power contract expires in August.
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