German company E.ON an investor in local distribution company Electrica Moldova was granted a arbitration fee against Romanian state.
The Romanian state will have to pay the German energy group E.On EUR 2 million compensation. The amount represents the legal costs of a dispute that Romania has filed at the arbitration court in Paris against the company, which it lost.
The state accused E.On of not having made the investments promised in the privatization contract of the former Electrica Moldova. It asked the German company to pay EUR 33 million, but the court in Paris ruled in favor of E.On, because the state’s claims were overdue.
The state also has other legal disputes with international companies that took over electricity distributors in the country. Romania also went to court against the Italian energy company Enel, demanding EUR 500 million compensations. The state claimed that Enel, which took over Electrica Muntenia Sud, didn’t respect the privatization contract.