FOLLOWING EFFORTS BY REP. RYAN AND SEN. BROWN, WARREN STEEL HOLDINGS RECEIVES NEW ENERGY AGREEMENT THAT WILL ENABLE PLANT TO RESTART AND SAVE JOBS
WASHINGTON, D.C. – Today, U.S. Sen. Sherrod Brown (D-OH) and U.S. Rep. Tim Ryan (OH-13) applauded a ruling by the Public Utilities Commission of Ohio (PUCO) that would help protect hundreds of Mahoning Valley jobs. PUCO agreed to a “Reasonable Arrangement” that will reduce energy costs for the Warren Steel Holdings company and enable it to remain competitive. The ruling follows Brown’s and Ryan’s efforts earlier this month to urge PUCO to take this action for the wellbeing of the Valley and its workers.
“This is excellent news for Mahoning Valley workers and the local economy,” Brown said. “A plant closure would have cost the region hundreds of jobs and employees would have lost $53 million in compensation. By approving a fair electricity rate, the Valley will avoid job loss and potentially see new jobs created in the future. PUCO made the right decision, and as a result, the Mahoning Valley will be strengthened.”
“I am pleased that Warren Steel Holdings will be getting a utility rate reduction that will protect local jobs and allow them to restart their mill,” Ryan said. “This decision will help Warren Steel Holdings remain competitive as they seek new opportunities for growth and increased employment.”
In March 2014, Warren Steel Holdings suspended operations due in part to high energy costs. The company indicated that it had no plans to restart operations unless it acquired a more competitive power rate. Today’s ruling would not only enable the company to restart operations, but to upgrade its facilities and create new jobs.
Brown’s and Ryan’s June 2014 letter to Tom Johnson, the Chairman of PUCO, can be read in its entirety HERE.