Hidroelectrica SA, Romania’s state- owned hydro-power operator, is in talks with smelter Alro SA (ALR) over raising electricity prices at least 10 percent, Ziarul Financiar reported, citing unidentified people close to the discussions.
Hidroelectrica plans to renegotiate a bilateral contract for selling power to Alro by Feb. 14 and a price increase may cost the aluminum producer an extra 36 million lei ($11 million), according to the Bucharest-based news paper.
Alro, majority owned by Vimetco NV (VICO), is being investigated by the European Union competition regulator for allegedly buying electricity from Hidroelectrica at below-market prices.
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