Alcoa reaches new power agreement for its smelting operations in Massena, NY; the future of its 130-kmtpy smelter looks more certain

The New York governor announced today that Alcoa and the New York Power Authority reached an agreement for the allocation of low-cost hydropower to the company’s smelting operations in Massena, NY. The new power agreement extends through 2026 the about-to-expire power contract, and has yet to be approved by the New York Power Authority Board of Trustees. Although the power agreement supports the continuity of the smelter’s operations, we understand that the company has yet to negotiate a labor contract with unionized workers at this location.

More details in full report.