Ascultă Radio România Actualitaţi Live

Former directors of Hidroelectrica sued

Euro Insol company asks the shareholders to approve a lawsuit against former directors of the company, through which will be recovered damage.

Former directors of Hidroelectrica sued
Photo: Agerpres.

Articol de Daniel Neguţ, 05 Octombrie 2012, 12:50

Hidroelectrica judiciary manager, Euro Insol company, ask the stockholders to approve a state court action against former directors of the company, through which will be recovered Hidroelectrica damage.

The power producer owned by the economy ministry became insolvent on June the 20th and since then is in judicial administration of the company Euro Insol.

The company recorded big losses due to preferential sales of energy, mismanagement, and a prolonged drought.

Hydropower is in a process of restructuring and work re-evaluation, a complex measure that included nearly three months ago the terminated contracts with so-called "smart guys in power".

We would have expected that after this radical decision to relocate the electricity market. Why it did not happen tell us the energy analyst, Gabriela Moroianu, Energy Focus Director.

The energy analyst Gabriela Moroianu, Energy Focus Director, says that some contracts were terminated, not all.

"They disbanded six contracts, from ten," the analyst said.

Moroianu Gabriela said that on the energy market nothing happened because of the drought that, practically annulled the beneficial effect of abolishing contracts with "smart guys".

"These contracts were supposed to release an amount about 5 terawatts of energy per year.

"Well, this quantity we will not get and that's because it did not rain, and Hidroelectrica, a company that in an average year hydrologic produces around 17 terawatts, or if you want 17 million megawatts, this year seems that will not produce but 12 terawatts.

"Basically, the same amount that was withdrawn from the "smart guys", said the energy analyst.

Gabriela Moroianu added that the effect of eliminating contracts with the "smart guys" will be visible when it rains.

"Obviously, when it rains, I know, next year, two years, only then we will feel the positive effect of canceling the contracts with the "smart guys", more or less because the price of electricity will be to rise, given that so far, in one way or another, has been kept artificially on hold.

"The first increase has already occurred by 5 percent and by 2018 there will be periodic such increases," said Energy Focus Director.

The price increase calendar of the electricity was agreed with the International Monetary Fund and the European Commission.

Translated by Alexandra-Diana Mircea
MTTLC, Bucharest University

17 banks participate in this year's edition of the New Home programme
News in English 28 Martie 2024, 18:57

17 banks participate in this year's edition of the New Home programme

Three more banks are participating in this year's edition of the New Home programme to support home purchases, bringing...

17 banks participate in this year's edition of the New Home programme
Final preparations before Romania's entry into the Schengen area with sea and air borders
News in English 28 Martie 2024, 18:55

Final preparations before Romania's entry into the Schengen area with sea and air borders

Final preparations are being made ahead of Sunday, the first day when there will be no border controls at the 17 airports and...

Final preparations before Romania's entry into the Schengen area with sea and air borders
The budget deficit reached, after the first two months of the year, almost 29 billion lei
News in English 28 Martie 2024, 18:53

The budget deficit reached, after the first two months of the year, almost 29 billion lei

After the first two months of the year, the budget deficit reached almost 29 billion lei, representing 1.67% of GDP. This is...

The budget deficit reached, after the first two months of the year, almost 29 billion lei
The draft law on the social assistance reform was adopted by the Chamber of Deputies
News in English 27 Martie 2024, 03:02

The draft law on the social assistance reform was adopted by the Chamber of Deputies

The draft law on the social assistance reform has been adopted decisionally by the Chamber of Deputies. The bill was drafted...

The draft law on the social assistance reform was adopted by the Chamber of Deputies
Ceremony marking the 200th anniversary of the Romanian Police
News in English 26 Martie 2024, 01:19

Ceremony marking the 200th anniversary of the Romanian Police

The Romanian police needs to invest in modernisation and logistics, but also to constantly adapt legislation to the evolution...

Ceremony marking the 200th anniversary of the Romanian Police
National Institute of Administration opens new courses for public administration employees
News in English 26 Martie 2024, 01:17

National Institute of Administration opens new courses for public administration employees

The National Institute of Administration is coming this year with a new course for public administration employees. They deal...

National Institute of Administration opens new courses for public administration employees
The names of the joint candidates with which PSD and PNL will participate in the local elections on June 9 "will be decided on Monday"
News in English 24 Martie 2024, 21:33

The names of the joint candidates with which PSD and PNL will participate in the local elections on June 9 "will be decided on Monday"

The names of the joint candidates with which PSD and PNL will participate in the local elections on June 9 will be decided on...

The names of the joint candidates with which PSD and PNL will participate in the local elections on June 9 "will be decided on Monday"
"By the end of the year" Cluj will supply water to Salaj
News in English 24 Martie 2024, 21:32

"By the end of the year" Cluj will supply water to Salaj

Romania's longest water main is nearing completion. It will carry water from Cluj to Salaj. The pipeline is a...

"By the end of the year" Cluj will supply water to Salaj