Herald News: Ormet, AEP hearing continues

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Herald News: Ormet, AEP hearing continues

Noting the potential closure of Ormet Corp. would “cause irreparable harm to Hannibal and its surrounding communities,” U.S. Sen. Sherrod Brown urged the Public Utilities Commission of Ohio to cut the aluminum producer a break.

Hearings at the PUCO regarding Ormet’s request to pay a lower American Electric Power rate continued Wednesday, said commission spokesman Matt Schilling. A final decision in the matter is not expected until at least October, according to Ormet President and Chief Executive Officer Mike Tanchuk.

Brown, D-Ohio, hopes the commission will allow Ormet to stay in operation.

“Rising electricity costs are crippling the plant’s competitiveness,” said Brown. “Its closure would cause irreparable harm to Hannibal and its surrounding communities and our country’s ability to produce aluminum. The company is asking to buy electricity at market rates, instead of the increased rate that has been imposed.”

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