Posts Tagged ‘Noranda Aluminum’

State Sen. Jason Crowell, known as a brick wall on two spindly legs for his filibusters in the Mo. Senate when he opposes legislation, is term-limited, winding up his last year of legislative service and he is not seeking another office. So – why did Noranda Corp.of New Madrid donate $10,000 this week and two previous donations of $10k donations earlier this year – bringing to a haul of $30k from the aluminum smelter he has been protecting in the lagislatture? Not bad for a country lawyer from Cape Garagedoor. For those keeping score, Noranda is the largest consumer of electrical energy in the eastern half of Missouri – yet it pays a dramatically lower industrial power rate,even lower than the poorest customers of Ameren.  It’s probably a coincidence that Sen. Crowell’s filibusters historically blocked any legislation that could have  raised Noranda’s electric bill.

Noranda Aluminum is AmerenUE’s biggest industrial customer, running a mammoth aluminum smelter in New Madrid, Mo.  Noranda is also paying the lowest rate per kilowatt hour for power of any AmerenUE customer – several cents per kwh less than the poorest residential ratepayer in our town.  The company is part of the combine of large industrial customers now fighting AmerenUE’s rate increase proposal at the Missouri Public Service Commission with lots of hand-wringing about how they are on the ropes financially.  Interesting?  Leon Black, CEO of Noranda Aluminum’s holding company, Apollo Global Management LLC reportedly plunked down $47.6 million for Raphael’s drawing, “Head of a Muse,” at Christie’s in London, setting an auction record for a work on paper. Noranda also recently bought about $250 million in mines. So, Noranda continues its fight against a rate increase in Stoddard County and will likely push legislation that limits what it will pay – on the back of residential and small business customers.