“We are certain that we did not benefit from state aid and we will continue to co-operate with the European Commission, to make sure that our position is understood,” ArcelorMittal said in reply to an announcement of the Commission regarding an in-depth investigation into preferential energy tariffs at Hidrolectrica.
Earlier Wednesday, the Commission said it has opened five distinct in-depth investigations to assess whether Hidroelectrica purchased or sold electricity at preferential tariffs.
Two of the bilateral agreements in question were signed with ArcelorMittal in 2009 and 2010, at prices seemingly below market levels, the Commission said.
Aluminum smelter Alro Slatina (ALR.RO) was also singularized in the Commission’s statement. The Commission said Alro has an ongoing contract with Hidroelectrica for the delivery of 3 TWh of electricity per year at a price very close to Hidroelectrica’s own production costs and subsequently indexed annually on the basis of the aluminum price quotation on the London Metal Exchange.
“Our analysis doesn’t indicate that we have benefited from state aid,” Alro said in a reply later Wednesday. “We will wait for an official confirmation and further details from the European Commission,” it added.