Except that aluminum smelting requires near constant power levels or the smelting pots will freeze and need to be replaced. So it's not really relevant here.
Fun fact: this is why the US aerospace industry grew up in the pacific northwest.
At the beginning of the 20th century we went on a bit of a dam building spree up there (and all over, but heavily up there). Then when WWII broke out and we got a huge demand for airplanes (which require light aluminum), the industry congregated around where there was an excess of cheap hydro. Hence Boeing, Lockheed, and friends all being out of Seattle.