Outcome Of A Decade Of Secrets: Direct Contracts Cost Hidroelectrica EUR1.5B In Lost Profits

03.13.2012 By Roxana Petrescu

In 2001, the newly incorporated Hidroelectrica, the cheapest electricity producer created by the reorganization of the Romanian energy system, signed its first direct contract to sell power, as well as its first export contract. A decade later, after its direct contracts caused harsh political reactions, accusations of undermining the economy and long lists of managers and directors against which charges were brought, the amount of profit the company gave up by selling its power cheaply to companies well connected to political circles exceeds EUR1.5 billion.

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Keywords:: HIDROELECTRICA; , CONTRACTS; , LOSSES

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