Aspen Power's shutdown means temporary loss of 33 jobs

Aspen Power's shutdown means temporary loss of 33 jobs
News
Wednesday, February 29, 2012 - 11:04am

Two months after it began production, Aspen Power will sit idle until May in response to low energy prices, according to owner Danny Vines.

Vines said the current price set by the Electricity Regulatory Commission of Texas is too low to make it lucrative to continue production.

“We’re not the only one. There are a lot of other plants forced to shut down because of low prices,” he said. “We set a target date of May because that is typically when demand starts increasing and prices go up.”

The cost-saving measure leaves 33 of Aspen’s 52 employees without work. Vines said he expects they will file for unemployment until higher energy demand brings the plant back online.

To read more on this article at The Lufkin Daily News  http://lufkindailynews.com/business/article_23191e9e-6168-11e1-a401-001871e3ce6c.html

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