Romanias Hidroelectrica fails to sell most of power offered on market.

By bne IntelliNews October 31, 2012
Romanian hydropower producer Hidroelectrica has closed only two of the nine power delivery contracts offered for sale on the power exchange in October and cancelled another nine contracts scheduled to be auctioned on October 30-31. The price paid by the winning bidders in the two contracts won by E.ON Romania and GDF Suez Romania was only marginally above the RON 220 per MWh required by Hidroelectrica. State-controlled Hidroelectrica, currently under insolvency procedures, is auctioning during Oct 30-Nov 5 several large electricity delivery contacts of a total size of 1.7 TWh. The total size of the contracts accounts for 14% of the company's power production this year,which was below its long-term average due to unfavourable weather conditions.

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