Bloomberg News

Hidroelectrica Lost 1.3 Billion Euros From Contracts Since 2006

July 19, 2012

Romania’s hydropower generator Hidroelectrica SA lost as much as 1.3 billion euros from 2006 until May 31, 2012 because of bilateral contracts on supply of power at below-market prices, the President’s office said today in a statement on its website.

Hidroelectrica is currently holding talks with several companies and may renounce bilateral contracts from July 16 to July 22, after terminating one such contract, the Bucharest- based office said in the statement based on information received from the country’s Economy Ministry today.

To contact the editor responsible for this story: Irina Savu at isavu@bloomberg.net


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