AMM
American Metal Market

By Daniel Fitzgerald
December 24, 2013
 

PSC seeking more data after Felman alters power request

NEW YORK - Felman Production LLC has been ordered by the Public Service Commission (PSC) of West Virginia to provide more financial and production data after the silicomanganese producer revised its request for a special electricity rate.

The PSC has ordered Felman to provide its 2011 and 2012 financial statements "in the maximum available detail," including the silicomanganese volumes produced and electricity purchased, within 21 days of its Dec. 20 order.

"It is further ordered that Felman provide a detailed schedule showing its calculation of the actual margin per ton and the adjusted margin per ton included in the original filing within 21 days of the entry of this order," the PSC said.

The order follows evidentiary hearings from Dec. 9-11 that saw Felman and Appalachian Power Co. (APCo) each present energy rate proposals.

“The Felman proposals, including its original rate mechanism and the revised version that it offered as Exhibit BN-7, appear to rely on data from operations in 2011 and 2012. Considering the importance of the 2011 and 2012 financial and operational data to the Felman proposals and the need to properly undergird any final decision, the commission directs Felman to file certain information in a readily accessible manner," the PSC said. 

Felman's revised request includes a $500,000 minimum annual guaranteed contribution to fixed costs, while the original petition contained no such clause. The revised petition also contains changes to the minimum rate and premium cap.