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Unytite Inc. in north Peru will likely move its hot forming operation out of Peru because of a “significant” electric rate increase that began in July, according to Chuck Hundley, general manager. Ten people are employed in the operation. A feasibility study is under way to see if it is financially reasonable. “We will make a final decision at the end of this month or April, based on the results of the feasibility study,” Hundley said. “Discussions with electric facilities, such as Ameren, have revealed that we could reduce electrical costs about in half.” Currently, Unytite is paying about 10 cents per kilowatt hour. With Ameren, it would be 5 or 6 cents per kilowatt hour. Annually, that now amounts to about $700,000 in electrical costs for the hot forming operation, which manufactures primarily nuts and some bolts. By paying 5 or 6 cents per kilowatt hour, that total could be reduced to $300,000-$400,000, Hundley said. Unytite met with the city of Peru three or four times to discuss industrial rates, which ultimately resulted in a graduated fee increase, as opposed to a one-time total increase. Unytite has looked at several site relocations, including La Salle and out of state. By the end of March or April, Unytite plans to have a new site location for the hot-forming operation. Then construction of a new building will follow with a target date of June 2014 for start up of the process. Other plants and businesses in Peru with significant electrical usage have been meeting together and with the city of Peru to discuss the rate increase. Unytite has been in Peru since 1990. It makes structural nuts and bolts and parts for heavy equipment and the automotive industry. It employs about 105 people.