Alcoa reaches electricity deal with Hydro-Quebec
QUEBEC – Alcoa and Hydro-Quebec have reached a long-term agreement that will see the multinational’s three smelters continue to get electricity from the provincially owned utility.
Alcoa had threatened last October to close its facilities in Quebec if Hydro-Quebec refused to lower its electricity rates.
The company did not release details of the electricity rates.
The agreement runs through 2030 for smelters in Becancour and Deschambault and through 2036 for the smelter in Baie-Comeau.
Alcoa says the agreement will allow it to proceed with $250 million of planned investments at the smelters over the next five years.
Premier Pauline Marois and Alcoa officials made the announcement at a news conference in Baie-Comeau this morning.
Alcoa has about 3,000 employees in Quebec.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.