Consumables

Alcoa, Hydro Québec Sign Power Agreements Through 2040

Monday 22. December 2008 - Alcoa (NYSE:AA) today announced that it has finalized new power agreements in Quebec through 2040.

The agreements will supply clean, renewable energy to all three of the Company’s aluminum smelters in the province – Baie Comeau, Becancour (ABI), and Deschambault — and enable Alcoa to upgrade and expand Baie Comeau production. The agreements cover approximately 1.1 million mtpy, or more than 25 percent of the Company’s production.

Alcoa finalized with Hydro Quebec the renewal of existing power agreements in Quebec as well as the signing of new agreements for additional power. This is in line with a Memorandum of Agreement (MOU) reached on March 4, 2008 with the government of Québec on a new, renewable energy contract to supply all three of the Company’s aluminum smelters in Québec with a combined 2100 megawatts of hydropower through December 31, 2040.