One of the largest employers in the Charleston area has threatened to leave. Alcoa, which is the global leader of aluminum production, wants a new electric deal with Santee Cooper--one that's lower.
"We cannot continue to operate at a rate that's not competitive," Alcoa plant manager, Mike Rousseau said. "We have to have a competitive power rate to allow us to compete as a global commodity business."
Alcoa employs 640 people locally, and has been here for 30 years.
"Alcoa is one of the most respected businesses in Charleston," said Santee Cooper spokesperson, Laura Varn. "In order to compete in a business and global market, their costs have to remain competitive. We understand that, but we too at Santee Cooper are facing increased costs pressures," she said.
Varn said there are multiple costs they have that limit their ability to slash costs for companies like Alcoa.
"Things like rising fuel costs, transportation issues, and most notably the environmental regulations that are bringing increasing costs to our business," she said.
Neither company will say how much Alcoa's bills are, citing confidentiality. One thing is for sure, Alcoa feel it is too high.
"The rates we are paying continue to escalate and we are paying some of the highest rates around," Rousseau said.
Alcoa and Santee Cooper are in talks. Their current contract expires at the end of 2015.
A renegotiation clause allows Alcoa to notify Santee Cooper by June of 2012 if it wants to terminate the deal.
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