Romanian Hidroelectrica pledges to terminate ongoing below market value contracts

Romania’s biggest energy company Hidroelectrica will cancel as soon as legally possible some widely criticized ongoing contracts at prices below market value, company representatives announced earlier this week. The beneficiaries of bilateral agreements not traded by the Electricity Market Operator in Romania have received notification to cancel the contracts, wherein the state owned utility company sells energy at prices way below market value. It is part of an International Monetary ...

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