OHIO STEEL PRODUCERS PRAISE THE SENATE AND GOVERNOR FOR SWIFT, EFFECTIVE ACTION ON ELECTRICITY

COLUMBUS, Ohio (October 31, 2007) –  The Ohio Steel Industry Advisory Council applauds the Ohio Senate and Gov. Ted Strickland today for working diligently to pass an energy bill that will ensure predictability and stability in electricity pricing for all Ohioans.

Substitute Senate Bill 221 passed the Senate 32-0 Wednesday and now will head to the House of Representatives for consideration. The Council urges House members to act expeditiously on the legislation, so the Public Utilities Commission of Ohio (PUCO) can institute new rate structures for Ohio consumers before Rate Stabilization Plans (RSPs) expire at the end of 2008. Once legislation is passed, the PUCO will require much of next year to implement the changes.

Sub. SB 221 is a substitute bill based on a proposal from the Strickland Administration that will return Ohio to cost-based pricing with oversight by the PUCO. At the same time, it introduces an option for utilities and their customers to go to market if and when a viable free market for electricity develops.

“We are very encouraged by the leadership of the Strickland Administration and the Ohio Senate. They have addressed this difficult issue head-on,” said Alan McCoy, vice president, government and public relations for AK Steel Corporation and a member of the Ohio Steel Council.

“Now we are looking to the Ohio House for similarly swift and balanced review of the legislation,” McCoy said.

The Ohio steel industry is heavily energy dependent and is the largest industrial sector consumer of energy in the State of Ohio, spending nearly $1.6 billion per year, of which $267 million is purchased electricity.

The Ohio Steel Council is a public private partnership designed to strengthen ties among the steel industry, the state of Ohio and its citizens. The Council’s member organizations are AK Steel Corp., Lorain Tubular Operations (of United States Steel Corporation), ArcelorMittal, Ohio Department of Development, Ohio House of Representatives, Ohio Senate, PRO-TEC Coating Company (joint venture of U. S. Steel and Kobe Steel), Republic Engineered Products Inc., Thomas Steel Strip Corp., The Timken Company, United Steelworkers, V&M STAR, WCI Steel, Inc., Wheeling-Pittsburgh Steel Corp., Cleveland State University and The Ohio State University.