Rep. Michele Bachmann last week raised the possibility of a federal agency operating the Mississippi River hydroelectric dam at the site. But at least for now, Verso will continue to operate it under a 40-year contract with the Federal Energy Regulatory Commission.
The 46-foot-high, 388-foot-long dam, initially constructed between 1905 and 1907, was licensed to St. Regis Corp., a forerunner of Verso, on March 13, 1985. The FERC contract stipulates the license holder to operate the dam for 40 years unless a petition is submitted and approved to relinquish control. Barring any changes, Verso would be responsible for operating the dam until March 1, 2025.
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