State officials considering taking over from Alcoa Inc.
Published: June 30, 2008
North Carolina legislators are contemplating a state takeover of hydroelectric-power plants along the Yadkin River.
The company that runs the plants, Alcoa Inc., is firmly opposed to the idea. But that may not be enough to stop the state from taking control of the dams, reservoirs and power-generating facilities.
A provision that would have the state study the issue was inserted into the 2008-09 budget bill that was passed earlier this month by the N.C. Senate. The provision calls for a study of whether North Carolina should create a "Yadkin Power Authority" to "produce, distribute and sell hydroelectric power for the benefit of the people of North Carolina."
Senate and House leaders are negotiating a final state budget plan, and it is unclear whether the hydroelectric proposal will be included in the final budget.
Alcoa hopes not. (more…)
