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Ormet Moves To Full Shutdown

CEO blames PUCO for not enough help

October 5, 2013

HANNIBAL — Mike Tanchuk blasted the Public Utilities Commission of Ohio Friday for not further reducing Ormet’s electric bills as he announced the company would cease all operations by next wee....

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(79)

Thebudman

Oct-04-13 4:24 PM

obama's War on Coal has driven the price of electric up and this is the result!

6 Agrees | 5 Disagrees | Report Abuse »

daWraith

Oct-04-13 4:26 PM

How that Hope and Change workin' out for ya??

D-E-N-I-A-L ain't a river in Africa.

7 Agrees | 5 Disagrees | Report Abuse »

daWraith

Oct-04-13 4:32 PM

But But But GAS is so cheap, it is cheaper than coal, yada yada yada.

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oldsteelmaker

Oct-04-13 4:43 PM

Yes, gas is cheap...

once you pay off the old plant, pay for the new one, and wait the couple of years it takes to design the plant, make the equipment and build the power station and infrastructure to tie it to the grid.

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oldsteelmaker

Oct-04-13 4:44 PM

But don't worry, someone will come along and buy the place, just like they did in Mingo.

Ask Santoro how that's working out.

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daWraith

Oct-04-13 5:10 PM

OSM, BINGO!

And by the time you PAY OFF that investment, the ports and boats to EXPORT it to JAPAN, Europe, et al where is will sell for $12 per mcfm will RAISE the price of Gas HERE to comparable levels.

Economics 101.

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tellnya

Oct-04-13 5:12 PM

Blame management not the freaking electric bill. Nobody else gets a discount.

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Blackrock

Oct-04-13 5:28 PM

Thank you, Obama. Much more to come. This area will become a ghost town with only the elderly and welfare recepients remaining. Thanks Libbies.

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justme4you

Oct-04-13 6:06 PM

my take

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justme4you

Oct-04-13 6:09 PM

I am an employee of Ormet and about to lose my job. I stand behind our management team 100%. They have went above and beyond what anyone will ever know to keep this place operational. Our current management are our friends--they are not just high-ups sitting in an office. Blame should not be put on them whatsoever. The blame lies with PUCO and AEP.

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dyingov

Oct-04-13 6:30 PM

Mitchell (AEP affiliate) just invested 1.4 billion dollars in scrubbers, that investment is paid for on your electric bill! Thank the EPA for your electric rates!

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sounder

Oct-04-13 6:54 PM

A state, a region that has clung and held on to old technology for so many years; much of the United States has moved on to another economy if they were lucky to land on their feet with a game plan. I don't believe that landing on your feet, making a serious effort to move your workforce and population into better jobs with added value--that doesn't seem to be a priority or one of hit or miss in West Virginia, those areas of Ohio that stuck with the tried and true. The clock won't be turned back and the remaining population slowly drifts into the numbers of aged or those who can't adapt with a better education and training.

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BigMike

Oct-04-13 7:00 PM

The PUCO Commissioners never mentioned in their comments that Ohio's energy policy transition to market has massively increased energy costs and is misguided, with its first major casualty being Ormet. How can this Administration justify an energy policy that puts thousands of people out of work?" said Mike Tanchuk, Chief Executive Officer and President of Ormet Corporation.

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Blackrock

Oct-04-13 7:07 PM

Sounder, that's a good line, now move into reality. What "better jobs with added value" might you suggest for the areas you deride? What sort of " another economy" shall we move to in this area? Get your nose out of the textbook, son, and get into the real world. What better economy do you speak of, Sounder?

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Blackrock

Oct-04-13 7:09 PM

Sounder has all the attributes of an educated idiot.

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electrichead03

Oct-04-13 7:27 PM

I just hope the rates go down cause ormet shut down! Cause now I don't work! Idiots!

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WVUGEO

Oct-04-13 7:27 PM

daWraith: "But But But GAS is so cheap, it is cheaper than coal, yada yada yada." Yup, yup, that ole Mr. Marcellus, he's gonna make it all okay. Maybe these 750 guys and gals from Ormet can get on at that new symbol of OV industry, the Warwood frack flowback treatment plant.

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sparky75

Oct-04-13 9:27 PM

What happens to retirees pensions now. Ormet did not keep up their payments to the PBGC to insure their pensions?

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atoddh

Oct-04-13 9:38 PM

Just: It is not the role or AEP or the public to support your job.

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atoddh

Oct-04-13 9:43 PM

Sounder has a point. Nothing has been done to finance new business starts in the area or WV. Everything has been for the non profits per the folks in power. Even when, for example, private financing was offered for the Capitol the proposal was turned away by the City in favor of squandering public money to support non profit power, control and jobs. A very unhealthy situation.

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1whoworks

Oct-04-13 9:58 PM

The bottom line it that the economy stinks. After 5 years of Obamanoics we have late 1970s growth and unemployment rates. Not matter what the feds say about manufacturing numbers it just isn't there. Nor does the current admin want it. The more people thrive on their own the less they need the power hungry like Obam to give them hand outs.

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1whoworks

Oct-04-13 10:01 PM

Oh an for the Ormet employee who feels they got a bad break. If they got their electricity totally free this year they would still have lost money. Do the math.

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Ragnar

Oct-05-13 12:26 AM

atoddh

West Virginia is too stupid and corrupt for this, of course, but they should look at Innovation Works in Pittsburgh as an example.

Innovation Works brings together businesses and venture capitalists. It also provides initial startup capital, free office space for several months and advice to new entrepreneurs.

Pittsburgh has a booming technology/VC business, thanks to Carnegie-Mellon, Innovation Works and other entities.

Just over an hour away, Becker Meachem VC invested in a company that makes robots for warehouses. This company sold to Amazon for $775 million.

Mark Cuban got his start in Pittsburgh, as did the guy who founded Groupon, the co-founded of You Tube, the co-founder of McAfee, the co-founder of Sun Microsystems, the founder of Lycos and many others.

Wheeling could have done something similar, though it does lack the research background/wealthy alumni like Carnegie-Mellon and Pitt.

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Ragnar

Oct-05-13 12:27 AM

I am sorry for Ormet's workers but this is what happens when a company cannot compete.

Don't blame AEP for your woes. Even with free electricity, no pension contributions and millions of debts dumped in bankruptcy court, it is highly doubtful if Ormet could have survived.

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acousticportal

Oct-05-13 12:42 AM

I don't believe a word from Ormet...same scam they've been doing for decades...the hiring process for cheaper new employees has already begun.

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