News: ORG UPDATE 1-Alcoa Australian smelter wins new lifeline to 2026

(Adds details of agreements, background)

March 19 (Reuters) - Alcoa Corp AA.N said on Friday it had signed new, five-year electricity supply agreements with AGL Energy (AGL) , Origin Energy (ORG) and Alinta Energy for its Portland aluminium smelter in the Australian state of Victoria.

The Portland smelter consumes about 10% of Victoria's electricity and is the biggest single electricity consumer in the state.

The federal government had proposed a revenue top-up scheme in December last year to ensure the smelter remained open after its operations were threatened as Alcoa sought to cut costs.

The government had offered to ensure the smelter earned at least A$76.8 million through June 2025, and the company said on Friday that the state of Victoria had agreed in principle to match the federal government's funding package.

The smelter is co-owned by Alcoa, Australia's Alumina Ltd (AWC) , CITIC Resources 1215.HK and an arm of Japan's Marubeni Corp 8002.T .

The agreements will commence on Aug. 1, after its existing agreement with AGL expires, Alcoa said.

Financial terms of the agreements were not disclosed.

($1 = 1.2890 Australian dollars)