RELEASE: *** PSC HEARING COUNTDOWN CLOCK: 6 DAYS *** Noranda Received $10.4 Million in Taxpayer Funds – Now They Want More Money from MO consumers
With Less than One Week Until the PSC Hears from Southeast Missouri, St. Louis, and Mid-Missouri, MBEF Reminds Electric Consumers Why Noranda’s Rate Shift is Bad for ALL of Missouri
Jefferson City, MO – Today, Missourians for a Balanced Energy Future (MBEF) stands up for Missouri consumers, who are being asked to fork over up to a billion dollars over 10 years to cover an electric rate reduction for Noranda Aluminum. Noranda already received over $10.4 in taxpayer subsidized funds and pays far less than Missouri electric customers.
MBEF is reminding Missouri consumers to oppose Noranda’s rate shift claim filed with the Missouri Public Service Commission (PSC). The PSC plans to hear from community members in Caruthersville, St. Louis, and Jefferson City at 6p.m. on June 9th, 10th, and 11th respectively.
“Missourians already pay more (approx. 60% more) than Noranda does for electricity. It is appalling that Missourians are being asked to pay even more.” MBEF Executive Director Irl Scissors said.
In January of 2009, Noranda took $3.5 million in an Action Fund Local, $2.5 million in Development Tax Credits, and $2 million in job retention training program funds. In 2010, Noranda got another $1 million in Energy Efficient Pilot grant from the Department of Natural Resources through the Federal Recovery Act.
Then, in July of 2013, Noranda received $1.3 million in Enterprise Zone Funding and $40,000 in job training credits to help with Noranda’s $45 million capitol development program that was supposed to create 29 new jobs at their New Madrid, MO smelter. However, less than six months later, Noranda announced layoffs of 75 New Madrid workers with no explanation about where the taxpayer funds went.
Noranda now seeks a 25 percent electric rate reduction through a formal request with the PSC. The reduction is in addition to a rate that’s 60 percent lower than any other Ameren Missouri customer and 90 percent of their customers live more than 100 miles from Noranda’s smelter.
###
Missourians For A Balanced Energy Future | moenergyfuture.org |
