FOR IMMEDIATE RELEASE
August 20, 2014
Contact: Irl Scissors (314) 368-4330
Missouri Public Service Commission Says NO to Noranda
Liquidity crisis unfounded, electric consumers would not be better off
Jefferson City, MO – Today, the Missouri Public Service Commission (“PSC”), in a unanimous 5-0 vote ruled against Noranda Aluminum’s claim seeking a twenty-five percent rate reduction that would have shifted over half a billion dollars of their electricity costs onto the backs of Missouri residents and other businesses.
PSC Chairman Robert Kenney explained the rationale behind their ruling stating, “We were not persuaded that Noranda’s liquidity crisis was of such severity to justify the relief requested and secondarily that Ameren Missouri’s remaining customers would not be better off with Noranda taking service at a lesser rate…”
“This is truly a win for all Missouri electric consumers. I’d like to commend the PSC staff, Commissioners and Judge Woodruff for their careful consideration and analysis,” said Irl Scissors, Executive Director of Missourians for a Balanced Energy Future.
“Shifting costs incurred by one company onto the backs of other consumers is neither good policy, nor is it fair to the thousands of consumers who depend on low electric rates to operate their homes and businesses,” said Scissors.
Approximately one thousand Missouri residents and business owners submitted comments in opposition to Noranda’s claim, representing tens of thousands of employees and working Missouri families.
In the post hearing conference, Commissioner Scott Rupp said it best stating, “I did not believe the liquidity crisis was as much as being represented. I don’t think it’s fair to ask all the shareholders or all the ratepayers of Ameren…to burden the whole cost of any type of rate reduction.”
MBEF continues to review the ruling as documents become public. Look for the PSC’s full judgment on their website at www.psc.mo.gov