Electrica Threatens Blackout At Oltchim, Over Unpaid Bills
Romanian state-owned electricity supplier Electrica reduced volumes delivered to chemical company Oltchim (OLT.RO), because of a debt worth more than EUR100 million, and it is summoning the company to pay its debt by Wednesday, or have its electricity supply halted.
“Oltchim was summoned last week to pay its electricity debt, which is more than EUR100 million. If Oltchim fails to pay, Electrica will cease deliveries Wednesday, and the contract might be terminated Thursday,” people close to the matter told MEDIAFAX.
The electricity contract was concluded in 2008.
The chemical company posted a memo on the Bucharest bourse Monday, saying Electrica reduced deliveries and negotiations are under way for a solution to the situation.
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