Supported by testimony of the United Steelworkers Union, community organizations, legislators, Missouri Retailers Association, and the Missouri Industrial Energy Consumers, the filing requests an initial rate of $30/MWh for New Madrid.
Noranda Aluminum chief executive officer and president Layle Smith said, "New Madrid should have competitive power rates to remain sustainable in today’s aluminum price environment."
"Noranda respects the Commission’s process and seeks to actively participate in this process and to engage in a constructive dialogue with all stakeholders," Smith added.
Under the proposed ten-year rate structure, New Madrid’s power rate will not be subjected to fuel adjustment charges, but would share in future rate increases granted to Ameren Missouri by the PSC, subject to a 2% cap for each general rate case.
The rate design requested by the company is revenue-neutral to Ameren Missouri, and is expected to increase other consumers’ rates by 1.8% or less.
With the support of various consumer groups, Noranda has requested the Commission to approve the reduced rate on an expedited basis effective August 1, 2014.
