Noranda Aluminum’s Revenue, Sales Drop In Q1

Courtesy of Ameren
Courtesy of Ameren

Noranda Aluminum Holding Corp., the company asking regulators to lower the electricity rate it pays to Ameren Missouri, blamed its fourth straight quarterly loss on “extreme” weather that drove up energy prices. Noranda, based in Franklin, Tenn., said it lost $16.8 million, or 25 cents a share, compared with a profit of $600,000, or a penny a share, a year earlier.

The company, the largest Ameren Missouri customer, is asking the Missouri Public Service Commission to reduce electricity rates for its giant aluminum smelter in New Madrid by 25 percent or it may be forced to close the operation. Because Noranda buys roughly 10 percent of the power Ameren produces, the adjustment could lead to rate increases for other Ameren customers.

Read more from the St. Louis Post-Dispatch


Tags:, , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students