MONCKS CORNER, S.C. (WCBD) – Santee Cooper’s board of directors approved on Monday a new contract with Century Aluminum.
Through the new contract, Santee Cooper will provide Century with electric needs to its Mount Holly plant through December 31, 2023.
According to a press release Monday afternoon, Santee Cooper will serve Century under an experimental rate that takes advantage of incremental power – excess capacity available until Winyah Units 3 and 4 are retired at the end of 2023 (Winyah 4 was idled Dec. 31, 2020.)
Because all of Century’s load will be served from Santee Cooper resources, the deal also frees up 150 megawatts (MW) of transmission capacity, used by Century under its existing contract, which Santee Cooper can now use for economic wholesale market sales and purchases that will benefit all customers.
“Throughout these negotiations, Century’s team has worked elbow to elbow with Santee Cooper in developing a unique service agreement that truly benefits all parties,” said Mark Bonsall, Santee Cooper president and CEO. “The South Carolina Department of Commerce also played a pivotal role in facilitating this deal, and I thank Secretary Bobby Hitt for supporting the process. The Mount Holly plant is a model of efficiency in its industry, an important employer in this area and a good corporate citizen, and Santee Cooper is pleased to continue to power its success.”
Santee Cooper says the new power agreement allows Century to continue operations at its Mount Holly plant, which employs about 300 people currently and is expected to increase operations and jobs under the new contract.