Earlier today, Alcoa announced it has reached agreement with the Bonneville Power Administration to amend its current power contract to help improve the competitiveness of the Intalco smelter. As a result, the Company will not curtail Intalco at the end of the second quarter as previously announced.
The amendment to the power contract is effective July 1, 2016 through Feb. 14, 2018 and provides for additional access to market power during this short-term period.
“This amendment with BPA, combined with the state of Washington’s $3 million budget proviso for on-site workforce training are significant factors in helping Intalco remain competitive amid challenging market conditions. We are grateful to Governor Inslee; our federal delegation led by Senators Murray and Cantwell, and Representatives DelBene and Larsen; our state legislative delegation led by Senators Ranker and Ericksen; and BPA for their support. We also appreciate your continued support.”