CHARLESTON, W.Va. (AP) - The West Virginia Public Service Commission on Thursday authorized a special electricity rate plan for an idled manufacturer in Mason County.
The plan would enable Felman Production to buy electricity from Appalachian Power at as much as $9 million per year off its full rate. The discounted rate would be calculated each month based on the costs of raw materials used in production and commodity prices.
Felman has said the plan would allow its silicomanganese plant in New Haven to operate when commodity markets are weak.
The PSC made the move under a 2012 law intended to help manufacturers whose plants consume large amounts of electricity in certain circumstances.
According to earlier testimony, Felman said it hasn’t been profitable since at least 2010 and wouldn’t reopen unless it received the special rate.