BUSINESS

Hidroelectrica cancels contracts with SNLO, Salrom and CLMB Patinoar Brasov

Hidroelectrica cancelled the direct electricity selling contracts with SNLO, Salrom and CLMB Patinoar Brasov, while the company Luxten Lightning dropped the agreement “for reasons related to their image”, sources within the state-owned company argued, quoted by Mediafax. SNLO, Salrom and CLMB Patinoar Brasov bought electricity in small quantities at the highest prices Hidroelectrica applies for bilateral contracts. Even so, the company’s prices are twice smaller compared to the prices obtained on the OPCOM market. Economy Minister Ion Ariton forwarded to the press an activity report for 2011 indicating that Hidroelectrica had cancelled four contracts. “Following talks with IMF representatives, in mid-December we decided to remit notifications concerning the cancellation of the contracts as soon as possible to all bilateral contracts beneficiaries. Four of these were cancelled,” Ariton stated, without providing further details.

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