PSC approves Big Rivers-E.ON agreement - Business First of Louisville:

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The agreement calls for E.ON to provide more than $800 millioj in cash, asset transfers or other benefits to Big but none of those costs will be bornde by customersof E.ON. The PSC said in a prese release Friday that giving control back to Big River should help keep aluminum smelters server by the Big Rivers plant s operating for thelong term. At full the two smelters, Alcan in Sebree and Centuruy Aluminumin Hawesville, employ 1,4009 people and account for $115 million in annual payrolp and benefits. An estimated 3,500 other jobs regionally depend on the If the leasewith E.
ON were to continue, the smeltersd could have faced significantly higher electricd costs in a few and the cost of electricithy accounts for about one-third of its But ending the lease eventually will lead to highef rates for other customers of the threde rural cooperatives in the Big Rivers according to the release. So the PSC conditionedr its approval of the leass terminationon E.ON agreeing to pay $61 milliomn to Big Rivers to set up a reserve account to partiallg offset those higher That $61 million is in addition to the $800 milliohn in benefits described above.