Romania: Hidroelectrica won all disputes against electricity traders, SEE Energy News
The Romanian electricity producer Hidroelectrica has won all disputes initiated against the electricity traders, due to the unilateral termination of long-term contracts. Electricity purchase at a price that was below the market price was envisaged by these contracts.
The last lawsuit launched by Alpiq Romindustries was dismissed by the court. Hidroelectrica terminated the contracts with suppliers in August 2012. Due to unfavorable contracts, Hidroelectrica lost 94.4 million euros within the period from 2006 to 2012.
However, Hidroelectrica is involved in 16 more disputes related to claims. These trials have to be concluded for the company to come out on the exchange.