Investor Presentaiton
Long term renewable power
contracts ensure robustness
Smelter business operating cost
curve 2022
USD/tonne
3 200
3.000
Power sourcing for smelters
in Europe
Power sourcing for Hydro smelters in Norway1)
TWh
18
16
14
12
10
86
4
2
0
Total consumption
2 800
2 600
2 400
Spot/Short-term
Long-term
Captive
Medium-term
2022 2024 2026 2028 2030 2032 2034 2036 2038 2040
Wind power
Hydropower Current captive
2 200
2 000
1 800
Power sourcing for Hydro JV smelters 2) Power sourcing for Hydro B&A³)
TWh
TWh
1 600
1 400
12
10
Total consumption
3.0
Total consumption
2.5
1 200
1 000
8
2.0
800
6
00
1.5
600
4
St
1.0
400
2
0.5
200
0
0
0.0
0
10 000
20 000
30 000 40 000
50 000
60 000 70 000
2022 2024
2026 2028
2030 2032
2022 2024 2026
2028
2030
2032
Coal
Gas
Mix
Renewables
Hydro
Tomago
Alouette
Albras (other)
Albras (Rein)
Albras (long-term)
Qatalum captive
Paragominas - Rein
Paragominas (short-term)
Alunorte - Rein
Alunorte (short-term)
Source: CRU, Hydro analysis
1) Net -8 TWh captive assumed available for smelters. 2) Hydro Share: Qatalum captive (50%), Alouette (20%),
Tomago (12.4%), Albras (51%). 3) Total Alunorte and Paragominas - all consumption sourced through Hydro
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