Business & Tech

Mt. Holly Power Bill Struggle Continues as Decision to Renew Delayed

Alcoa has said it will close the Mt. Holly site if power rates aren't made more affordable.

Whether or not Alcoa Mt. Holly will continue its power contract Santee Cooper will not be decided June 30, as previously agreed upon by the two companies, but later in the year. 

The aluminum manufacturer has previously said that it needed an affordable power rate or the facility would close. More than 600 people are employed there. 

This week, Alcoa Mt. Holly and Santee Cooper reached an agreement to extend Mt. Holly's June 30 power contract deadline for six months to Dec. 31, 2013. This deadline requires Mt. Holly to notify Santee Cooper if the current contract, which expires in December 2015, will be renewed.

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The extension allows Mt. Holly and Santee Cooper to continue discussions regarding the development of a post-2015 power contract.

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