Romania: Hidroelectrica Filed Lawsuit against Nuclearelectrica for electricity trading loss

Nuclearelectrica announced that Hidroelectrica had filed a lawsuit against this company. Hidroelectrica demands that Nuclearelectrica pay a compensation of up to 9.2 million euros, which represents the loss created by selling electricity at a price that was much lower than the price paid to the nuclear power producer. In addition, Hidroelectrica demands that the respondent company pay the lost profit related to the sale of 1.044.605 MWh of electricity, calculated in accordance with the rules of the regulatory agency ANRE, as well as the default interest as from the judgment date to the payment date.

The sources familiar with the situation claim that the problem has arisen because of the agreements concluded before 2012, when Hidroelectrica went into bankruptcy. These agreements had been concluded with Nuklearelectrica and thermal power plants. Nuclearelectrica took the electricity when the price was high and sold it when the price was low, which was established in the audit report that was finished only last year.

Nucelarelectrice officials said that they would take all necessary steps to protect the company interests.

Nuclearelectrica announced that, in the first quarter, they had achieved a profit of 8 million euros, which is by 11 percent more compared to the same period last year. Within the same period, an 11 percent drop was recorded when it comes to operating costs, whereas electricity production was lower by 2 percent.

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