You could of course argue it is still too high, but it is also within the current status quo.
A PE firm is trying to buy it up, but the bonneville administration isn't playing ball and giving them the same rates, so it'll likely sit empty.
Rio Tinto have a poor record and leave toxic waste in various places. It seems possible that the taxpayer will be tidying up their mess.
The subsidies are staggering:
> The total cost of $2.7 billion comes to $274,338 per job per year during 35 years for the 740 jobs in the new plant. If we use the figure of 10.0 cents/kWh, which is the expected cost of new projects under study, the cost per job per year rises to $370,864
And these are 2007 number!!! And no, the smelters aren't paying their employees FAANG wages.
> It is far more profitable to export electricity directly through interconnections than indirectly through aluminum ingots.