Hidroelectrica sold electricity worth 11 million Euro on the energy market

Hidroelectrica announced it sold energy worth 11 million Euro following completion of 12 contracts to seven companies.

2014-05-30 18:42:00

The volume of energy is estimated at almost 271 thousands MWH, to be delivered to the seven beneficiaries between July 2014 and December 2016. The seven beneficiaries are Entrex Services, three contracts with Electrica Distributie Transilvania Sud and one contract each for Tinmar, Transformer Energy Supply, C-Gaz&Energy Distributie, Enel Energie anf GEN-I Bucharest.

The sale package exceeded the value of 200 RON per MWh, while the peak price has been achieved for the energy to be delivered in 2015, for a price of 205.43 RON per MWh.

In April this year, Hidroelectrica announced it signed 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.