Hidroelectrica explains gift to Alro: The contract allows us to attract funding

Hidroelectrica, the cheapest energy producer on the Romanian market held by the Economy Ministry, says the signing of long-term contracts with big energy consumers such as Alro Slatina and ArcelorMittal Galati can help the company attract funding, while at the same time supporting industries, which employ thousands of people.

The energy producer has recently signed a contract that extends until 2018 with Russians at Alro Slatina, under which Hidroelectrica will deliver 3 TWh per year, and get around 30 euros per MWh from Alro, although the energy costs around 40 euros per MWh on the market.

ArcelorMittal Galati pays 32.8 euros per MWh, with the energy supply contract spanning 2010 as a whole. In all Hidroelectrica will get around 100 million euros from Alro until 2018 and around 60 million euros from Mittal in 2010.