Noranda, consumer parties reach agreement on allocation of Ameren Missouri electricity rates

Noranda Aluminum Holding Corporation announced it has joined in a rate design agreement with consumer groups in the Missouri Public Service Commission ("PSC") general electricity rate case for Ameren Missouri. The consumer agreement remains subject to approval by the PSC as part of the Ameren rate case, which is expected to be decided by May 31, 2015.

Among other provisions, the consumer agreement establishes a new electricity rate structure for Noranda's aluminum smelter in New Madrid, Missouri. The proposed smelter rate structure has a ten-year term, an initial rate of $34 per megawatt hour, and exempts the smelter from fuel adjustment charges. Compared to rates in place during 2014, at full production the proposed smelter rate structure would have reduced the smelter's electricity costs by $30 million in 2014, or approximately $0.05 per pound of primary aluminum produced.

The consumer agreement was filed by the Office of Public Counsel on March 10, 2015 in PSC case number ER-2014-0258. In addition to Noranda, other consumer groups joining the consumer agreement are the Consumers Council of Missouri, the Missouri Retailers Association, and the Missouri Industrial Energy Consumers.

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