“It’s not an accumulation of losses on our part but simply an acute lack of liquidity, so we are seeking protection,” said company owner Viorel Tudose.
He said the company hasn’t terminated any electricity supply contracts.
“This is just a stage. We are confident that if Hidroelectrica, the biggest energy producer in Romania, overcame this stage well, so will we, the biggest local supplier,” said Tudose.
Getica 95 became the biggest local electricity supplier on the competitive market in January, with a market share of 12.15% compared with 7.9% in January 2020.
The company had a turnover of RON1.5 billion in 2020, more than double compared with 2019, and a net profit of RON81.5 million from RON26.1 million in 2019, according to finance ministry data.
According to energy regulator data, Getica 95 had a share of 9.36% of the competitive energy market at the end of 2020, from 5.97% in 2019.