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Hidroelectrica sold energy worth RON 105 million on the energy market

Power company Hidroelectrica sold energy worth RON 105 million on April 3 and 4, representing over 600.000 MWh, the company announced recently.

2014-04-09 18:33:32

The company completed 29 contracts and sold 615. 650 MWh in packages of 5,10 and 55 MW, for intervals such as one week, one month, 5 months and 8 months. The cumulated value of the 29 contracts is worth 105 million RON, with an average price of 163.3 per contract.

Hidroelectrica has managed to exit insolvency in June 2013 and, at one year since it declares incapacity of payments, the company has laid off 700 employees, annulled direct contracts through which it had lost over EUR 1 billion and recorded a turnover of RON 399 million in the first five months of this year, compared to losses of RON 190 million in the same period of last year. At the end of 2013, the company representatives said that by 2014, Hidroelectrica planned to sell 88 small hydropower plants, representing 1 percent of the overall installed power, due to significant operational and maintenance costs.

Hidroelectrica shareholders are the Romanian state with 80.05 percent of shares and Fondul Proprietatea, with 19.95 percent.



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