Hidroelectrica Lost 1.3 Billion Euros From Contracts Since 2006
By Irina Savu -
2012-07-19T16:39:13Z
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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