Alcoa reaches electricity deal with Hydro-Quebec

PHOTO: THE ASSOCIATED PRESS

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.

Leave a comment:

showing all comments · Subscribe to comments
  1. LMAO posted on 02/25/2014 04:08 PM
    Now see how much our hydro bills will go up to pay for the PQ corporate wealthfare handout program.
  2. clint posted on 02/25/2014 05:12 PM
    Woah !....where's my deal ?
  3. John Clayton posted on 02/25/2014 05:23 PM
    Rates with Alcoa not published because Marois lost those negotiations you can be sure of that. She is such a fricking loser just like all the losers that voted her in.
    1. clint posted on 02/26/2014 08:57 AM
      @John Clayton "In October 2013, the company threatened to close its three plants in Quebec if Hydro Quebec went ahead with its scheduled plan to increase the company's rate to 4.7 cents per KWH in 2015."
  4. markR posted on 02/25/2014 08:05 PM
    Yes, let's give away electricity at rock bottom prices for the biggest waster's like ALCOA and let the taxpayers of KWEEBEC make up the shortfall. Mismanagement of our provincial finances is the PQ's core competency.
  5. Karla Liebrandt posted on 02/25/2014 09:00 PM
    Oh great, then they turn around and raise consumer rates!
showing all comments

News Videos

Latest News

  • Teen OK after riding in wheel well of Hawaii jet

    Officials say a 16-year-old boy is "lucky to be alive" and unharmed after flying from California to Hawaii stowed away in a plane's wheel well, surviving cold temperatures at 38,000 feet and a lack of oxygen. Read More
  • After bombs, Boston Marathon under tight security

    One year after a pair of homemade pressure-cooker bombs killed three people and wounded more than 260 others, turning a day of athletic triumph into one of tragedy, the Boston Marathon returns to the streets on Monday. Read More