‘Alcoa Corporation today announced new agreements with multiple power generators for the Portland Aluminium Smelter in the Australian state of Victoria. The five-year agreements with AGL, Alinta Energy and Origin will each commence August 1, 2021, when an existing agreement with AGL expires on July 31, 2021.
The Australian Federal Government has committed, subject to approval, to provide up to $14.8 (A$19.2) million per year for four years to underwrite the smelter’s participation in the Reliability and Emergency Reserve Trader (RERT) scheme. The arrangement will recognize the smelter’s ability to rapidly shed load when required to help protect the power grid from unexpected interruptions when it is under duress.
In addition, in recognition of the valuable contribution Portland Aluminium makes to the Victorian economy, the Victorian Government has agreed in principle to a funding package to match the Federal Government contribution.’https://au.finance.yahoo.com/news/alcoa-announces-multi-repowering-australia-223000804.html