LONDON — Alcoa Inc. has finalized a long-term contract with the Bonneville Power Administration (BPA) for the aluminum producer’s Intalco smelter in Ferndale, Wash.

The contract, which will cover the 279,000-tonne-per-year smelter’s power through September 2022, provides a power rate of 300 average megawatts annually, down from a previous rate of 320 average megawatts (amm.com, May 24).

"Solidifying Intalco’s long-term power supply security is a major accomplishment that not only helps protect jobs, but helps sustain manufacturing and its economic impact in Washington state," Bob Wilt, Alcoa’s president of global primary products for the U.S. region, said in a statement.

The agreement also benefits BPA customers as it offers "lower rates in the near term and increased long-term rate stability," BPA administrator and chief executive officer Steve Wright said.

The Pittsburgh-based producer and the Portland, Ore.-based agency reached a tentative agreement in October (amm.com, Oct. 9).