Hidroelectrica preserves its turnover despite 8.3% power consumption decline

Hidroelectrica, the cheapest state-held Romanian energy
producer, was able to preserve its turnover last year at the same
level as in 2008, whilst energy demand fell by 8.3% on the overall
market, with many producers seeing sales down in this unfavourable
context. “Last year we recorded a 2.47 billion-RON (584
million-euro) turnover, slightly up against 2008, when our turnover
amounted to 2.44 billion RON (664 million euros). The company’s
revenues could have been higher had it not been for the drought and
for the works on one of the hydro power stations (Lotru i.e.),
which affected us,” said company representatives. Hidroelectrica
managed to preserve its RON-denominated turnover due to the fact
that, despite a lower energy production, in 2009 it renegotiated
upwards most of its energy delivery contracts with big energy
consumers and traders.