A couple weeks ago a bipartisan group of state senators filed legislation to create the Yadkin River Trust and become part of an effort to operate the Yadkin River hydroelectric projects if Congress authorizes a recapture of Alcoa's operations there. Alcoa is seeking renewal of its federal permit to operate the projects, but it faces increasing opposition in part because it no longer employs a substantial workforce at its Badin plant.
Now the state House has weighed in with a similar bill filed by an equally bipartisan group of nearly two dozen lawmakers, including former House Speaker Harold Brubaker, R-Randolph, and Reps. Melanie Goodwin, D-Richmond and Lorene Coates, D-Rowan.
You can read more about the issue at the Web site of the N.C. Water Rights Committee (www.ncwaterrights.org).
The committee also offers a discussion of what it thinks is the value of the hydroelectric projects. Alcoa believes any fair compensation would run to the hundreds of millions of dollars. The Committee argues that under federal law, the price should be net investment -- a little over $24 million -- plus severance costs. That's a pretty big gap between the two sides.
