Algoma Steel moves to prevent power-price shutdowns

Management at Algoma Steel Inc. has taken steps this month to prevent shutdowns related to high spot prices in Ontario's newly deregulated electricity market, SooToday News has learned.

The unspecified measures were taken after one power-price spike during the past two weeks almost caused temporary curtailment of operations at the company's plate and strip complex, senior vice president Glen Manchester told us this afternoon.

Any shutdown would probably have been limited to no more than a few hours, Manchester said.

"I don't think that Algoma's unique in that regard," Manchester added, pointing out that many Ontario manufacturers are facing similar concerns.

Temporary shutdowns are still a possibilty this month at some steel mill operations, but the probability of that happening has been considerably reduced since the company took preventative measures, he said.

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