Century Aluminum (CENX) Unable to Complete Long-Term Power Contract for Hawesville, KY Smelter
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Century Aluminum of Kentucky, a wholly owned subsidiary of Century Aluminum Company (NASDAQ: CENX), today announced that due to unfavorable business conditions, it is unable at this time to move forward on a proposed new, long-term power contract for the company's Hawesville, Kentucky smelter.
Century, along with Western Kentucky Energy (a subsidiary of E.ON U.S.), Big Rivers Energy, and Rio Tinto Alcan, has been working for more than five years to negotiate an "unwind" of the existing contractual arrangement between Big Rivers and Western Kentucky Energy (WKE), and to define a new agreement that would provide long-term and affordable power to the two smelters in western Kentucky.
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