Portland smelter contract renewal finalised
AGL Energy Limited (AGL) today announced that it has finalised a new agreement to supply a proportion of the electricity requirement of the Portland Smelter Joint Venture Participants’ (Alcoa) aluminium smelter in Portland, Victoria, until July 2026. The agreement takes effect from 1 August 2021 when the existing supply contract ends.
AGL Managing Director & Chief Executive Officer, Brett Redman, said: “AGL recognises the importance of the Portland smelter to the communities it supports and as a large wholesale electricity user. The total Portland load comprises approximately 10 percent of Victoria’s total energy demand and we are pleased to play our part in securing its continued operations.”
The new contract represents a mutually beneficial outcome on commercial terms, for a volume of 275 MW, and provides AGL with flexibility including rights in relation to the short-term reduction of volume at times of peak demand.
Authorised for release by AGL’s Market Disclosure Committee.