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PUCO Modifies Ormet's Application For A Unique Arrangement

October 3, 2013

On Wednesday the Public Utilities Commission of Ohio modified and approved Ormet Primary Aluminum Corporation’s application for a unique arrangement....

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JohnTheBaptist

Oct-03-13 8:53 PM

I would hate to see Ormet close, but could you imagine if the average customer tried what they have done? You enter into a contractual agreement, you fulfill your end of the bargain. If you can't, you endure whatever penalties come along with it.

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LucidNitemares

Oct-04-13 10:55 AM

JohnTheBaptist- If you are AEP's largest customer, you enter a "unique arrangement" and are paying $39/MWH and it is raised to $62/MWH, how is that fair to the customer. If you went to the bank and got a loan for 10% interest and they raised it to 50% interest, would you be ok with that? I doubt it very seriously. What company can absorb a $110M raise on electricity per year. The media fails to cite the amount paid for electric bills at Ormet. Ormet consumes about 500MW per hour (or the equivilant of a city the size of Pittsburg). How is it justifiable to raise a power rate by 58%??? As a consumer / customer, you would be flipping out if your bill was raised that much in that time period! There is also the omissions by the media which fails to show AEP's profit margins... $1.3 Billion in 2012 and $1.9 Billion in 2011! I guess they must be really struggling and are really taking a hit by giving their largest customer a break (insert sarcasm).

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JohnTheBaptist

Oct-06-13 1:20 AM

The point is this: You entered into an agreement. They have operated within that agreement. No matter how unique, or how right/wrong the contract was, it is still a contract that you willfully entered into.

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