Year Extension in Alcoa Power Dispute

Alcoa and Santee Cooper have agreed to delay a contract deadline a full year while the two sides hash out a power bill compromise. The news provides some relief for the 600 plant workers worried about the fate of the local site.

The aluminum manufacturer said in August that  or the facility would close. The contract runs through December 2015, and Alcoa had until June to give notice if it decided not to renew. They now have until June 2013.

Plant manager Mike Rousseau said the agreement pushed the deadline down the road, but he's hopeful for a new contract sooner rather than later. "The extension provides additional time for both sides," he said.

In September, , noting the company provides $110 million in state and local revenue and has a $900 million economic impact in the state. 

Gov. Nikki Haley and U.S. Rep. Tim Scott have , offering support for a compromise to keep the plant operating.

"You have created the platform for the conversation to continue," Scott told employees in March. "I'm hopeful that Santee Cooper and your executives will stay at the table until the deal is done."

Market analysts cited Alcoa's aggressive cost-control measures as a reason for the surprise news in April that .