Quantcast

Monday, July 28, 2014         

 Print   Email   Most Popular   Save   Post   Retweet

Hoku Corp. wins partial victory in Idaho dispute

By Star-Advertiser Staff

POSTED:



Honolulu-based Hoku Corp. won a partial victory in its quest to reduce the high electric bills threatening the viability of a polysilicon plant Hoku is building in Pocatello.

The Idaho Public Utilities Commission on Friday denied Idaho Power’s request to collect an additional $1.8 million deposit from Hoku, and ordered Idaho Power to renegotiate its contract with Hoku for future electric bills.

Idaho’s largest electric utility had threatened to cut off power to Hoku’s $390 million polysilicon plant because the clean-energy company was behind on its electricity payments. Idaho Power said Hoku’s arrearage included an unpaid November electric bill for $1.9 million due on Dec. 21, and the $1.8 million deposit due on Dec. 31.

The cash-strapped Hoku paid the November electric bill on Friday after receiving approval to borrow up to $10 million from a Chinese bank. Hoku got additional relief when the Idaho PUC ruled that it did not have to pay the deposit, which was in addition to a $4 million deposit Hoku already paid to Idaho Power.







 Print   Email   Most Popular   Save   Post   Retweet

IN OTHER NEWS
Breaking News
Blogs
Political Radar
On policy

Warrior Beat
Apple fallout

Wassup Wit Dat!
Can You Spock ‘Em?

Warrior Beat
Meal plan

Volley Shots
Fey, Enriques on MJNT

Political Radar
Wilhelmina Rise, et al.

Court Sense
Cold War