Romanias Hidroelectrica declares force majeure amid low water level in dams.

By bne IntelliNews August 7, 2012
Romanian state-controlled hydropower generator Hidroeelctrica declared force majeure effective as of August 7 due to adverse weather conditions, Agerpres reported. The Trade and Industry Chamber endorsed the company's notification. The company will generate only 700GWh output in August, against 1,100GWh projected. Even after terminating long-term contracts with major customers, Hidroelectrica still has to deliver 926GWh in August under the contracts that remained in force. Hidroelectrica took a similar force majeure step last September but it resumed normal operations earlier in May. Meanwhile, it filed for insolvency on the back of cash flow problems.
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