Alcoa paying less?

According to an article on aluminium company Alcoa's homepage, the company pays 50 percent less for hydroelectric power in Iceland than in Brazil.

Alain Belda, chairman of Alcoa, states in the article that in Brazil, Alcoa pays 2,200 kronas per hour of megawatts but in Iceland the price is half of that, at 1.100 kronas.

Director of the National Power Company, says that the figures in the articles are wrong. " The basic price in our contract with Alcoa is much higher." Alcoa in Iceland released a statement yesterday saying that all price comparisons between Iceland and Brazil were absurd.

They have also apologized to the National Power Company for the statements made in the article, which has since been removed from Alcoa's homepage.