Business Services Industry
Seattle Council Negotiates Higher Power Rate for Nucor Steel.
Knight Ridder/Tribune Business News, February, 2004
By Bob Young, The Seattle Times Knight Ridder/Tribune Business News
Feb. 26--The Seattle City Council has forged an electricity-rate deal with Nucor Steel that calls for the company, the city's largest consumer of power, to pay slightly more than it would have under an initial agreement negotiated last month by Mayor Greg Nickels.
By getting more money from Nucor, council members aim to quell complaints that the special rate Nickels proposed to encourage the company to stay in Seattle amounted to a corporate subsidy that would be unfair to other City Light customers.
As part of the tentative deal with Nucor, council members also hope to get a written commitment from the company that it will invest several million dollars in its...
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