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 30 June 2035. The agreement takes effect from 1 July 2026 when the existing supply contracts end.

AGL Managing Director & Chief Executive Officer, Damien Nicks, said: “AGL is pleased to extend our supply agreement with Alcoa, one of our largest customers. The agreement supports the Portland smelter to continue to provide stability to the State’s energy network, 760 jobs in the local community and valuable exports for the economy. We are very pleased to continue working with Alcoa and its ongoing operations in Regional Victoria. AGL is looking forward to continuing to work with the Portland smelter to assist in their energy transition in line with our accelerated decarbonisation strategy.”

The new contract represents a mutually beneficial outcome on commercial terms, for a volume of 300 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.