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Ormet Workers Watch and Wait

Monday was final day for comment on pending case

September 10, 2013

HANNIBAL — Only the five members of the Public Utilities Commission of Ohio can decide whether Ormet Corp....

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(21)

BigMike

Sep-11-13 11:22 PM

Ormet, when (if) it can be profitable does something that many local business's cannot do. That is, since it is directly involved in the global metals market, it can transfer global wealth to the Ohio Valley. That is not a bad thing, since it benefits the region as a whole. Stop, and think about this for a minute.

Loghog writes about the development of the gas industry in the region, and that is a positive development. In fact, Ormet is seeking to use that natural resource as the fuel to power its smelter. It seeks to free itself from ratepayer subsidies and be self sufficient, as it should be. In my opinion, I believe we should support those industries that, in the past made America great. We have seen the demise of the steel industry and the attacks against the coal industry, weakening a once great nation. Without them we could not have defeated the Axis in World War II. The Ohio Valley along with Pittsburgh, Cleveland, Detroit and many other cities and towns built this nation,

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BigMike

Sep-11-13 10:32 PM

Loghog writes: " I'm sure the school systems can tap into some the gas well money to make up for any lost money from ormet property tax. the property tax on all the gas lines alone should be enough."

I'm not going to do your research for you, so you'll need to justify your statements with some facts"

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LogHog

Sep-11-13 4:57 PM

thanks nightmare...maybe I should buy some AEP stock... is that your 1st name or your real name?

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LogHog

Sep-11-13 4:55 PM

I have nothing against Ormet. If they can pull a rabbit out of the hat and keep running while loosing money, go for it. Just don't make my grandma pay any of their electric bills... none... she is on a fixed income

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LogHog

Sep-11-13 4:52 PM

AEP owes nothing to Ormet. Ormet wants to get reduced rates from AEP until Ormet builds it's own power plant to then cut out buying from AEP. Does this sound like a sound business plan for AEP?

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LogHog

Sep-11-13 4:45 PM

Summerfield, Ohio... easy to see from the old school grounds

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Jessie26

Sep-11-13 9:57 AM

From the energy collective: "Wholesale electricity prices briefly touched as high as $230 per megawatt-hour in New England. Wholesale "nodal" prices across the PJM system, which spans from the mid-Atlantic states westward through Ohio, West Virginia and parts of Indiana, Kentucky and Illinois, also ranged from $150 to $200 per megawatt-hour. For comparison, typical wholesale prices frequently range from $35 to $60 per megawatt-hour." Check your electric bill and tell me what your rate is. Ormet is paying well above the highest typical rate indicated. Check YOUR facts!

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1whoworks

Sep-10-13 9:04 PM

Jessie, If Ormet wants the going rate why don't they just get it? The going rate today was in excess of $260 per mwh. Check out PJMs website. Then check your "facts".

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1whoworks

Sep-10-13 9:02 PM

I for one wonder how AEP is going to ask for rate relief when Ohio is going deregulated. Full dereg by June 1, 2015

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dyingov

Sep-10-13 7:54 PM

jessie, What is the going rate?

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Jessie26

Sep-10-13 7:32 PM

I don't think anybody realizes that Ormet is paying A LOT MORE for electricity than ANY other aluminum smelter in the country and ANY other residential customer. The problem is in 2009 the rates started to increase. Every time AEP "gives" a reduction to any customers, AEP has the PUCO charge somebody else for it. There is a 5 million dollar charge per year to big industry for AEP's hot water tank program. Ormet is not asking for a favor, they are simply asking for the going rate - plain and simple.

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dyingov

Sep-10-13 7:23 PM

rangar, AEP has a multiple PAC's! That is the "lobbying" arm. My point we have the best goberment that money can buy. I doubt that the Union/Company workers in any business have a clue who they support with dues paid......

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electrichead03

Sep-10-13 6:49 PM

Why does everyone want ormet to shut down? If ormet gets this help...they will create jobs when they build the power plant. Aep won't have to worry about ormet then.seems everyone thinks that ormet is causing the increase in power rates but when ormet shuts down. ..watch the rates go up anyway.I know they will sell the power somewhere else but untill then I guarantee the rate will still go up.probly more than if ormet would run.people we need to keep these jobs! Sheesh!

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Ragnar

Sep-10-13 6:26 PM

dying

Since 1998, the United Steelworkers of America has spent more than $6 million on lobbying.

In the 2011-2012 election cycle, the USWA donated $3.12 million to Democrat politicians and PACS.

More than 60,000 steelworkers lost their jobs while Clinton was President yet, Bush gave them the tariffs that they demanded and they STILL give 100% to Democrats?

Since 2004, AEP has donated $66,828 to political causes, with $0 spent on lobbying.

In 2012, AEP paid $604 million in income taxes and $915 million in dividends, in addition to employing 18,000 Americans in good paying jobs AND buying millions of tons of coal, thus supporting coal jobs.

AEP's shareholders are widows, pension funds, retirement funds, mutual funds and investment banks, along with tens of thousands of small time investors who like the security and 4% yield.

If Ormet goes kaput, it will cause a little pain.

If AEP went out of business, it would affect millions of Americans.

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Ragnar

Sep-10-13 6:11 PM

LucidNightmares

That is correct. AEP made a profit for its' shareholders (owners) like all businesses should.

It is not AEP's fault that Ormet cannot run their business. Blaming the power company? C'mon!

Maybe I can try that. Open a car wash and then demand that the power and water come to me at dirt cheap costs, with my neighbors making up the difference.

If you cannot sell your product for more than it costs you to produce it, you lose money. If you lose enough money, you go out of business.

Remember, Ormet wasn't exactly churning out big profits when they were getting electricity at a massive discount.

If you can't make it in business, get out of business.

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dyingov

Sep-10-13 12:51 PM

AEP has "donated" 5.6 million dollars to politicians since 2004, 93% of which has been given to the incumbent! Keep on thinking this is the "desired" political system that the counties of the World want.......

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LucidNitemares

Sep-10-13 10:58 AM

LogHog showed his knowledge on the matter... raise the price of the products (he obviously knows nothing about the metal exchange or how prices change due to global demand). Also, cutting costs (that's what the hearings are designed to do... cut costs). And this Billion dollar processing plant is being built where??? Oh yeah, he never responded to that question. A natural gas fired power plant is being planned to be built... On Ormet property utilizing the gas that is being drilled... on Ormet property. And AEP is going to continue to raise rates on it's customers because they have been granted the authority by PUCO so they can meet obligations to their stockholders. Don't forget, they made their stockholders $1.3B last year and $1.9B in 2012.

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CraigL50

Sep-10-13 10:23 AM

Where is this billion dollar processing plant being built LogHog? Provide us with some details.

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electrichead03

Sep-10-13 9:55 AM

I say give them a break...let them run!

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LogHog

Sep-10-13 4:54 AM

Truth is there is a billion dollar processing plant being built now on Monroe co. And many wells being drilled. Big, big money floating around. Big, high paying jobs also. But, but the employees must Work long hrs. If ormet's costs are too high, then cut them. Or raise price of products, or close doors. Or do what GM did. Get Obama money?

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LogHog

Sep-10-13 4:42 AM

The school tax issue should not be an issue. It was stated recently that Monroe Co. has the most productive gas well in the state. Producing gross money exceeding $300,000 per day. I'm sure the school systems can tap into some the gas well money to make up for any lost money from ormet property tax. the property tax on all the gas lines alone should be enough.

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