OPC, consumers file new proposal to lower Noranda power rates

The Missouri Office of Public Counsel (OPC) has filed a new compromise proposal agreement with the Missouri Public Service Commission (PSC), proposing a reduced electricity rate structure for the Noranda aluminum smelter plant in New Madrid, beginning Dec. 31. The proposal, filed last Friday, carries into the current Ameren general rate case a proposal that was originally submitted in August, and was not considered by the PSC, in recently rejecting Noranda's request for lower power rates. The filing follows PSC's recommendation that both sides in the case continue to negotiate a compromise position that can then be re-presented to PSC for consideration. The Ameren case, filed in July, requests a $264 million increase in Missouri electricity rates. This is the sixth such Ameren request in the past eight years. Noranda's Vice President of Communication and Investor Relations, John A. Parker, said "We are encouraged by this proposal, and we appreciate the quick decision by the Office of Public Counsel and other consumer groups to bring forth this proposal."