Page Contents

    Advertiser Disclosure: At, our number one goal is to help you make better energy decisions. We adhere to strict editorial guidelines, however this post may include references to products offered from our partners.

    Steelmaker Acero Junction has been granted a multi-million-dollar discount on electricity rates.

    The Ohio Public Utilities Commission granted the company a $26 million discount across 6 years so it can jumpstart hiring and investment in the region.

    The decision was made Wednesday: "In this finding, the order of the commission adopts the stipulation to establish reasonable arrangement between Acero Junction and AEP Ohio."

    The discount was granted under some specific conditions: Acero Junction must create 270 jobs within 3 years of resuming full steel production. Those jobs would have to come in part through $60 million in capital and infrastructure investments.

    This is already the second piece of good news for Acero and its stakeholders this week. On Monday, Acero had paid back $8 million owed to its contractors as part of the stock buyout from JSW Steel.