An equity fund, unions and Washington’s governor all wanted to restart an idle factory needed for the auto industry, but a federal power agency has balked
But in the Pacific Northwest, negotiations collapsed this week over an attempt to reopen an aluminum smelter that was seen as a litmus test of Biden’s plan to build a homegrownA private equity firm — backed by labor unions, electric-car makers and much of the Washington state political establishment — said it has failed to seal a deal with a federal electricity agency that would have restarted an aluminum smelter that has been idle for 2½ years, and some are questioning why the White House...
hydropower for the Intalco plant, which is set on the shores of the Puget Sound. And BPA’s position is backed by local electrical utilities who cherish their dependable power supplies — and low rates — from the federal agency, which is overseen by the U.S. Energy Department.
“Secretary Granholm worked hard to identify a slate of possibilities that would help Blue Wolf produce aluminum using clean energy,” the Energy Department said in a statement."We are disappointed that the spike in electricity prices in the Northwest has resulted in no combination of options able to satisfy the parties’ financial requirements.”
In the Pacific Northwest, the decline of the aluminum manufacturers has reduced electricity usage, but that has been offset by greater industrial demands; a 15 percent increase in Washington state’s Once Russia invaded Ukraine and disrupted world markets, the price of electric power rose broadly, nearly doubling in the Pacific Northwest. Many aluminum makers around the world have curtailed their operating hours because of it. Before the war in Ukraine, Russia had been a modest exporter of aluminum to the United States.
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