The Jamestown Board of Public Utilities has agreed to a four year, flexible electric rate plan with its largest customer, Vesuvius-Monofrax of Falconer. BPU General Manager W Haase said that under the BPU's first ever "flex rate" agreement, Monofrax will save US$650,000 - money that is required to be reinvested into capital upgrades at the plant. The company also is required to maintain a certain number of jobs - 215 in the first year and 175 in the next three years. "The purpose of the flex-rate is to attract new industry, to help grow our existing customer base and to retain at-risk industries on behalf of our community," Hasse said. Monofrax, which manufactures fused cast refractories, was one of the BPU customers considered to be at risk under the board's new three year 25% electric rate increase. (whole item)
