Competition body probes into alleged juggles with the price of energy sold by Hidroelectrica

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Competition Council is investigating Hidroelectrica, under the suspicion of abuse of dominant position. There are suspicions that the state owned company would have avoided the market where the energy price is lower, to deliver energy on the market that boasts the most expensive energy prices.

„The Competition Council has the suspicion that Hidroelectrica, through his tender conduct, has limited the quantity of energy sold on certain market shares (mainly on the Market for the Next Day) with the aim of making some offers with higher prices on the Balancing Market,” the Competition Council has announced on Monday.

Hidroelectrica, Romania’s largest energy producer, whose majority stake holder is the Energy Ministry, recorded a net profit of RON 1.36 billion last year, the highest level in company’s history, and posted a turnover of RON 3.25 billion. The company has 3,300 employees.

In 2016, the Hidroelectrica’s net profit was RON 1.228 billion. At the same time, in the first quarter of this year, Hidroelectrica had a net profit of RON 485 million lei, compared to RON 399 million in the same period in 2017, due to the improved hydrological situation.

 

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