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Santee Cooper announces deal in principle with Century Aluminum



12/18/2015


MONCKS CORNER, S.C. – Santee Cooper officials announced today that Century Aluminum Co. has accepted a deal in principle regarding power supply to the Mt. Holly plant. The agreement is subject to approval by each organization's board of directors.

The deal would provide a new, three-year power contract through which Santee Cooper will deliver 100 percent of the Mt. Holly plant's electric needs, including 150 megawatts (MW) from off-system resources and 50 MW from Santee Cooper resources.

"I'm pleased Century has accepted our offer and will continue Mt. Holly operations," said Lonnie Carter, Santee Cooper president and CEO. "Most importantly, it saves more than half of the jobs at Mt. Holly, and it does not increase costs to Santee Cooper's other customers."

Santee Cooper is an entity created by the state and does not earn a profit. The utility's enabling legislation requires, among other things, the issuance of fair and just rates, and so Santee Cooper is prohibited from favoring one customer in a way that requires subsidy by other customers.

"This has been a long process, and I appreciate the interest and involvement by the members of the Berkeley County delegation, Gov. Nikki Haley, and local elected officials," Carter continued. "This new contract will give Century the opportunity to continue Mt. Holly operations while it pursues other relief."

Santee Cooper is South Carolina's largest power provider, the largest Green Power generator and the ultimate source of electricity for 2 million people across the state. Through its low-cost, reliable and environmentally responsible electricity and water services, and through innovative partnerships and initiatives that attract and retain industry and jobs, Santee Cooper powers South Carolina. To learn more, visit www.santeecooper.com