Kaiser denies impasse with BPA over sharing power profits

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SPOKANE - A Kaiser Aluminum Corp. official denied Thursday that the company is at impasse in negotiations for sharing some of the millions of dollars it is making by selling federal electricity rather than producing metal.

Kaiser vice president Pete Forsyth said the company has made an offer to the Bonneville Power Administration that is equal to one-third the value of profits the company will make from remarketing the federal power that Kaiser gets under a contract with BPA.

BPA spokesman Ed Mosey said Thursday the company stands to make $500 million from selling power through Oct. 1, when a new five-year contract takes effect.