BUSINESS

Hidroelectrica sells EUR 18.5 M worth of energy

Romanian state-owned energy producer Hidroelectrica concluded five contracts with Arelco Power and three with Electrica Furnizare on the sale of 431,360 MWh of energy during a bid organized on May 9 by on the power exchange OPCOM. The energy will be delivered between May 19, 2014 and June 30, 2015. The total value of the contracts is RON 81 million (EUR 18.5 million); the average price was of RON 187.94 per MWh (over EUR 40). Hidroelectrica became insolvent in June 2012 and exited insolvency a year after, only to re-become insolvent in February this year.

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