"The most odious element of the immediate restart plan Century proposed is the potential shift of up to an additional $185 million in Century electric costs to other ratepayers," the ruling said.
"The Commission previously rejected transferring any further payment obligations from Century onto other customers," the commission said.
The commission based its original October ruling on price forecasts provided by Century that said aluminum prices would rise over the next decade.
Given Century's strong rejection of the PSC's plan, commissioners said Century appears to have little faith in those projections.
Appalachian Power also had concerns about the PSC's plan, which required Century to provide a guarantee that it would pay for any power bill shortfalls still on the books at the end of the 10-year rate plan.
Power company officials said they had serious concerns over the financial stability of Century as a company. They argued if Century went bankrupt, they may have no way of recovering their costs of the plan.
Commissioners said they considered other options in their original deliberations, but believed a simple guarantee was enough. However, they admitted they were unsure about that now.
"While we continue to believe that a corporate guarantee by Century and its parent is acceptable, given Century's lack of faith in its aluminum price projections, there is a solid argument that there should be some limitation on the amount of the payable from Century to APCo that is secured only by the corporate guarantee," the ruling said.
The commission said it would consider changing that provision should APCo and Century hash out a modified deal and present it to the PSC at a later date.
The PSC did encourage Century and APCo officials to consider other options to help the Ravenswood plant restart.
The commission said the two companies should come up with a plan that is more than just a "starting point" -- which is how Century described its original proposal -- but rather something more concrete that can be reviewed in a future PSC case.
Commissioners said they want to see the Ravenswood plant restart, and hoped the companies can work out their differences on their own.
"The Commission cannot overstate the importance of this matter," the ruling said. "We know that it affects the local and state economy, impacts the lives of potential employees and retirees, and requires the protection of the utility and ratepayers from unreasonable rate impact and risk."
Contact writer Jared Hunt at jared.h...@dailymail.com or 304-348-5148.