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February 9, 2023
BUSINESS

Hidroelectrica wants to sign two bilateral contracts

Hidroelectrica wants to sign two bilateral contracts for the sale of 24,480 MWh of electricity through OPCOM – the Electricity Market Operator. According to the auction announcements, on July 19 the company will conclude two bilateral contracts with identical sales offers, HotNews.ro reports. Each offer refers to the sale of 12,240 MWh at a minimum price of 189 RON/MWh, VAT exclusive. The delivery interval is August 1 – December 31, 2012. The electricity amount put on sale is very small, compared to the approximately 12 million MWh delivered by Hidroelectrica to the so-called “smart guys.”on June 26, the judiciary administrator of Hidroelectrica denounced the contract with Euro-PEC, one of the ‘smart guys’ of the energy sector, so certain amounts of electricity were made available for sale. Euro-PEC was receiving each year some 300,000-400,000 MWh, and this was one of the least important ‘smart guy’ contracts. This year, until the end of May, Euro-PEC received approximately 130,000 MWh.These days, the company will stage a new round of negotiations with the beneficiaries of bilateral contracts. Remus Vulpescu, the special administrator of the company, recently said that the renegotiation process will be finalised this month. On the other hand, the energy delivery contracts with ArcelorMittal Galati observed the legislation, and the Galati-based steel mill is a big energy consumer, not an electricity trader, explained Bruno ribo, the CEO of the steel mill, quoted by Mediafax. “We collaborate with Romanian authorities to demonstrate that this is no case of state aid. we are not energy traders, we use the energy in the production process. And we are a big consumer, we constantly purchase 200 MW a day. This is not merchandise we buy from supermarket. We need stability,” Ribo mentioned. The European Commission reached the preliminary conclusion that two bilateral contracts between Hidroelectrica and ArcelorMittal Galati could be regarded as illegal state aid, and launched an investigation procedure. According to preliminary conclusions, Hidroelectrica accepted the prices proposed by ArcelorMittal Galati on the OPCOM market, despite there existed other offers at similar or higher prices. Furthermore, the Commission found out that ArcelorMittal Galati did not purchase the energy only for its own use, but also for the other companies held by the group in Romania.

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