Lawmakers Want Noranda Power Cost Tied to Jobs

8 years 1 month 2 weeks ago Thursday, March 31 2011 Mar 31, 2011 Thursday, March 31, 2011 4:29:00 AM CDT March 31, 2011 in News
Source: Associated Press

JEFFERSON CITY (AP) - The price one company pays for electricity in Missouri could be tied to the number of jobs it supports in the state under legislation being filed Thursday. Tennessee-based Noranda Aluminum has about 900 workers at smelting facility in New Madrid. It pays less for electricity than residential customers under an exception in state law.

Jefferson City Republican Jay Barnes told The Associated Press on Wednesday that a bill he's sponsoring would let Noranda keep its rate if it employs 200 people in Missouri. If Noranda employed fewer people than that, it would have to pay a rebate to residential customers.

Barnes says the company's special electric rate is similar to tax credit: the company saves on an expense, but in exchange he says it must help the state's economy.

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