Romanian Hidroelectrica Terminates Bilateral Contracts With Four Companies
Romanian state-owned hydropower producer Hidroelectrica terminated all direct sale contracts it had with SNLO, Salrom and CLMB Patinoar Brasov, while Luxten Lightning ended the contract “for image purposes”, people close to the matter told MEDIAFAX.
SNLO, Salrom and CLMB Patinoar Brasov were buying low amounts of energy, at some of the highest prices applied by Hidroelctrica in bilateral contracts. Even so, the prices were nearly half the ones obtainable on the regulated energy market, OPCOM.
Economy Minister Ion Ariton on Thursday published an activity report for 2011, where he says Hidroelectrica terminated four contracts.
“Following talks with representatives of the International Monetary Fund, mid-December we have decided to send out notifications for the termination of all bilateral contracts within the legal timeframe. Four of these contracts have been terminated,” Ariton said without offering any details.
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