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News

Alcoa continues to work with Government Officials to seek new power solution

Alcoa : 03 May, 2006  (New Product)
Eastalco has been operating under a power arrangement from Allegheny Power, but that contract is scheduled to expire on December 31, 2005. The current rates paid by Eastalco are approximately 40 percent higher than the global smelting average paid for electricity. Discussions with power providers in the Pennsylvania, New Jersey and Maryland market area which services Eastalco are suggesting retail market rates that would increase Eastalco's rates to more than three times the global average.
Alcoa announced it has issued notices to more than 600 employees at its Eastalco aluminum smelter in Frederick, Maryland that the plant will be curtailed if a new competitive power supply cannot be secured within the next two months. The company continues to work with government officials and others seeking ways to secure power for the 195,000 metric ton per year smelter.

Eastalco has been operating under a power arrangement from Allegheny Power, but that contract is scheduled to expire on December 31, 2005. The current rates paid by Eastalco are approximately 40 percent higher than the global smelting average paid for electricity. Discussions with power providers in the Pennsylvania, New Jersey and Maryland market area which services Eastalco are suggesting retail market rates that would increase Eastalco's rates to more than three times the global average.

The company is now working with government officials on other options, including possible legislative actions that could provide a short-term solution until a longer-term arrangement can be finalized.
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