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IFL electricity buyback deal with Eskom ends
International Ferro Metals has confirmed the successful switching in of the two furnaces on 1 June, following the end of the electricity buyback agreement with Eskom.
Under the electricity buyback agreement, the company switched out one furnace on 1 March and the second furnace on 1 April.
Eskom bought back the electricity which would have been consumed by the furnaces, at a rate that resulted in a net financial benefit to the company.
The shutdown of the furnaces did not adversely affect customers.
At 1:06pm: (LON:IFL) share price was +0.75p at 14.25p
Story provided by StockMarketWire.com
01/06/2012