Hidroelectrica renegotiates free market contracts

Hidroelectrica, Romania’s cheapest power generating company, has registered net income worth 30m RON (9m euros) in the first 6 months of the year amid the renegotiation of most contracts sealed on the free market with the purpose of offsetting production losses caused by the drought. “In the first half, we posted gains of around 30m RON (9m euros) amid turnover worth 950m RON (285m euros), in line with preliminary figures, similar with those registered during the corresponding period of last year,” stated Traian Oprea, general manager of Hidroelectrica. The quantity of power generated during the first 6 months of the year amounted to 9 TWh, with revenues of approximately 560m euros forecast for the yearend. Regarding the privatisation of micro hydropower stations, the company will organise a tender in late September to sell 16 of these facilities.