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 million in cash, asset transfers or other benefits to Big but none of those costsw will be borne by customers of The PSC said in a press release Fridayu that giving control back to Big Riversz should help keep aluminum smelters served by the Big Rivers plantxs operating for the long Atfull capacity, the two smelters, Alcanh in Sebree and Century Aluminum in Hawesville, emplouy 1,400 people and account for $115 milliojn in annual payroll and benefits. An estimated 3,500 othet jobs regionally depend onthe smelters. If the leaswe with E.
ON were to continue, the smeltersz could have faced significantly higher electricf costs in a few and the cost of electricity accountsx forabout one-third of its But ending the lease eventually will lead to highe rates for other customers of the three rural cooperatives in the Big Rivers system, according to the So the PSC conditioned its approval of the leasee termination on E.ON agreeing to pay $61 milliobn to Big Rivers to set up a reserve accounf to partially offset those higher That $61 million is in addition to the $800 millionh in benefits described above.